The majority of landlords say that tenant demand is growing!

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A staggering 94% of landlords reported that tenant demand is either stable or growing, according to a survey by buy-to-let lender Paragon Mortgages.

The survey, which is carried out every quarter, also reported that the average yield across landlord portfolios has remained around the same level during the previous 12 months, with landlords reporting an average yield within their property portfolio of 6.2%.

The second quarter showed that 38% of landlords feel somewhat optimistic for their rental portfolios, whilst more than half reported that there was no change in their views whatsoever. The survey also reported that 16% of landlords are looking to increase their rental portfolios within the third quarter.

Managing Director of Paragon Mortgages, John Heron said:

“It is interesting to see the improvement in confidence amongst landlords in the PRS. We are seeing much more activity in the private rented sector and, in turn, the buy-to-let market as a result of continuing strong rental demand and the investments made by landlords. Tenant demand is clearly staying very healthy, and this is likely to remain a common trend over the coming months, particularly as we are still not seeing the level of house building that the wider housing market so desperately needs.”

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Halifax to return home insurance costs to First Time Buyers!

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It has been announced by Halifax that any First Time Buyers who have taken out a Home Solutions insurance policy with the bank will be refunded a year’s insurance premium.
The refund is available on selected mortgages and will be paid directly into the account which is used to pay the mortgage payments – this will continue until the 18th of August (the payment will be made within a 60 day time scale from when the mortgage commenced).
£150 cashback will also be given to those who have opened a Halifax current account, which will be payable to the customer’s conveyancer upon completion.
Mortgage Director at Halifax , Craig McKinlay, said: “Upfront costs when purchasing a new property can add up and First Time Buyers often fail to account for the cost of home insurance when planning the finances for their new home, so we’re delighted to be able to make their lives easier and provide the added peace of mind that their home is fully protected.”
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Help to Buy creates 35,000 new homeowners!

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Kris Hopkins has announced that over 35,000 home seekers have been given a helping hand onto the property ladder through ones of the current government’s Help to Buy scheme.

The Help to Buy scheme is welcomed by the Housing Minister, as the scheme is playing an important role in the government’s economic plan, which is providing people with the chance to take a step onto the property ladder whilst creating jobs in construction as the houses continue to be built.

New figures show, since the launch of the Help to Buy scheme 14 months ago;

22,831 people have purchased newly-built homes through Help to Buy: equity loan scheme,

7,313 sales through the Help to Buy: mortgage guarantee and

5,173 sales with the Help to Buy: New Buy scheme.

This takes the total sales through the Help to Buy scheme to over thirty five thousand.

It has been noted that across the country 86% of Help to Buy: equity loan sales were to first –time buyers.

Housing Minister Kris Hopkins said: “In 2010 we inherited a broken housing market, where hard-working people who could afford a mortgage were locked out of home ownership because they couldn’t get the deposit together. Help to Buy is changing that – to date, this scheme has enabled 35,000 people buy their own place with a fraction of the deposit they would normally require. And with house building up a third over the past year, it’s clearly having a wider impact, getting workers back on construction sites and building the homes communities want and need.”

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Further details have emerged on the forthcoming £400m ‘Affordable rent to Buy’ scheme!

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Further details have been revealed on the approaching £400m ‘Affordable Rent to Buy’ scheme that will start this forthcoming summer.The Government is pinning their hopes that the loan finance scheme will attract developers who are new to the building for rent.
There was little detail revealed about the funding in last year’s Spending Review. However, the working paper from last week’s Department for Communities and Local Government adds more detail for the forthcoming bidding guidance that is due during the summer of this year.
The access to funding will be through a bidding process which will be assessed for value for money and credit-worthiness – deadline for bids is set for October 2014. The model put forward will see retrievable loans from the Government, which are available to meet part of the development costs.
These available loans would be 50% at the start on site and another 50% on completion. Lastly, any homes built under the Affordable Rent to Buy, should be then let at an ‘Affordable Rent’. This is calculated up to 80% of the surrounding market rates for at least seven years. When the initial seven year period comes to an end and on successful repayment of the loan finance, developers are free to sell the property or rent the property for full market rent.
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New measures will allow Londoners to rent their homes on a short term basis

It has been announced that new measures will end previous laws dating back to the 1970′s that does not allow residents within the county of London from renting their own residence on a short term basis. The new measures announced by Communities Secretary, Eric Pickles will end the outdated rules from the 1970′s.

Last year saw nearly 5 million visitors from overseas to the capital between July and September, with properties into the thousands being advertised on travel websites as holiday lets. Nevertheless, with current laws more than 40 years old, residents in London who want to rent their properties for less than a 3 month period will have to apply for permission from the council this does not apply to any other county within the UK.

Ministers now plan to change this outdated system through a measure in the Deregulation Bill. This new measure will give freedom to those Londoners who want to rent out their home for a short term let – for instance whilst they are on holiday.

These reforms will no doubt have a beneficial effect on London’s tourism industry by providing even more competitively priced rental accommodation, while also allowing residence a chance to make some extra cash.

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Join Property Property Property’s Club – the club built for agent success!

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Property Property Property continues to grow in strength and have are teamed up with an exclusive advertising company to offer all of our signed up agents a spilt cost for advertising on TV, Billboards and other media outlets including buses in your local area.
Here at Property Property Property we believe that the more successful our agents are, then the better we will be at doing our job.
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Help to Buy helps homes buyers sidestep four year of house price inflation!

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According to new figures from Mortgage Advice Bureau, the Help to Buy mortgage scheme is helping buyers to step onto the property ladder whilst avoiding four years of house price inflation.

The broker’s National Mortgage Index revealed data showing the average price of £151,021 in April this year for house purchases using the ‘Help to Buy’ mortgage.
The average time buyers would have been paying a similar amount four years previous to acquire their first home – data from the Office of National Statistics’ House Price Index shows the average was £151,000 in March 2010. Currently there is a 22% difference as the average has risen by 27% to £193,000 in March this year between the average first time buyer and those using the ‘Help to Buy 2′ mortgage scheme.

These figures can only suggest that the Help to Buy scheme is helping those who wish to get onto the property ladder.

Head of lending at Mortgage Advice Bureau, Brian Murphy stated that the findings suggest that mortgages at 90% and 95% LTV are being used responsibly through Help to Buy to give first time buyers an option that was in danger of becoming extinct.

“The Bank of England and government are coming under increasing pressure to take the heat out of sectors of the housing market, but writing off a scheme that is aiding those who most need it – predominantly first time buyers with modest levels of deposit – is not the way to go about it.

Lending standards have been carefully monitored ever since the recession, and the new mortgage rules [under the Mortgage Market Review] mean that scrutiny of borrowers’ finances remains rigorous and thorough with careful consideration given to the impact of future interest rate rises.

Providing this continues, there is a strong argument to support the availability of mortgages with far more realistic deposit requirements than has become the norm in an increasingly lop-sided housing market, especially for aspiring first-time buyers.”

Take advantage of our special discounted rates during June 2014 as Property Property Property will be introducing reviews on your listed properties and areas in which your clients are interested in, meaning that

Here at Property Property Property, we are committed to becoming the agents property portal of choice.

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Make a difference this June by increasing your online presence!

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Property Property Property are delighted to inform you of our new review service which is available to agents who already use our site. The reviews will be on your listed properties and areas in which your clients are interested in, meaning that the public can make comments about what they thought of the properties that they have seen.

This fantastic new review service offers even more ways to market your properties and aid you in the successful marketing that you deserve at an affordable cost.

Here at Property Property Property we want to give you the best opportunity to rent and sell your available properties to the right individuals. We believe a good way of getting the most out of advertising your available properties is to allow customers to comment on the properties and services you have. It is believed that reviews can increase your online presence by up to 20%, giving agents more opportunity to showcase their available properties whether it be to rent or to sell.

Agents will have the ability to turn this off on selected properties if they wish. We feel this will be a fantastic marketing tool for agents as clients will be able to voice their opinion and read the opinion of others, working in a similar way to amazon and ebay. Reviews are a fantastic way of providing the public with further information that could potentially create a higher profile and greater visibility for your listed properties which is a great way to stand out from the crowd.

Take advantage of our special discounted rates during June 2014 as Property Property Property will be introducing reviews on your listed properties and areas in which your clients are interested in, meaning that

Here at Property Property Property, we are committed to becoming the agents property portal of choice.

To sign up today, email us at sales@propertypropertyproperty.co.uk or call us on 0843 308 1700 to talk about our service in more detail.

Post Office announces it is joining Help to Buy

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The Post Office has revealed that it will be joining the government run scheme Help to Buy, alongside with the Post Offices financial partner, the Bank of Ireland.

Since launching mortgages in 2009 the Post Office has continued to offer some of the best rates for first time buyers – throughout 2013 the Post Office provided very competitive rates for first-time buyers and remortgage customers. In October it further reduced its five year fixed rate mortgage at 4.45% (90% LTV) providing those with a smaller deposit an opportunity to get their first foot on the property ladder.

Due to the ever increasing demand of customers requiring face-to-face consultations, the Post Office plan to increase the number of branch Mortgage Specialists to 100.

Head of Mortgages at Post Office, John Willcock said:

“Joining the Help to Buy scheme is the latest in a series of steps to affirm Post Office as the go-to mortgage provider for those wanting to get their first foot on the property ladder. Coupled with the increased number of Mortgage Specialists to cope with unprecedented demand from movers, first-time buyers and those looking to re-mortgage, Post Office will provide more customers with the chance to speak to experts about the options available, consolidating its position as a leading player in the market.”

Nick Fahy, Distribution Director, Bank of Ireland UK commented:

“Bank of Ireland UK is delighted to be joining the Help to Buy scheme with the Post Office, its long-term financial services partner.
“Making Post Office Mortgages available through the government’s Help to Buy scheme is a natural step in our continued commitment to helping customers across the 11,500-strong branch network to gain access to a broad range of value for money financial products and services.”

Here at Property Property Property, we are committed to becoming the agents property portal of choice.Take advantage of our special discounted rates during May 2014.
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Landlords continue to grow their buy-to-let property portfolios

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In 2014, a third of landlords intend to boost their buy-to-let (BTL) portfolios, according to the latest research.

Research conducted by The Online Letting Agents revealed that most landlords are confident about property prices, believing that property prices will continue to grow this year. Over a third of landlords believe that prices will rise between 6-10% within the next 12 months, however the research shows the remaining landlords predict a rise of just 5%.

The research also revealed that at least a third of landlords within the next 12 months intend to raise rents, with increases of up to 5%.

Also revealed was that just 11% of landlords intend to sell some of their buy-to-let properties over the forthcoming year.

Eleanor Carroll, Director of The Online Letting Agents said that the new research shows that confidence among landlords is running high, as the economy moves out of recession and the rental market booms.

“Falling rental arrears, the increased availability of buy-to-let mortgages and the rise in rents have all contributed to the booming rental market. In fact, new figures show that the number of buy-to-let loans leapt 56% in the 12 months to March, as the rental market continues to power ahead. We have experienced over a 60% increase in landlords sign up to our lettings service year on year, which is a clear reflection of the growing buy-to-let market.

The number of people living in private rented accommodation has risen from 2.2 million in 2002/03 to nearly 3.9 million last year. Home ownership has fallen to its lowest level for a quarter of a century, as soaring property prices have seen the number of people renting almost double.”

Here at Property Property Property, we are committed to becoming the agents property portal of choice.Take advantage of our special discounted rates during May 2014.

To sign up today, email us at sales@propertypropertyproperty.co.uk or call us on 0843 308 1700 to talk about our service in more detail.