If we believe all we read then Britain is in the grip of a buy-to-let boom! In the past five years, the number of homes bought by Landlords to rent out as investments has more than doubled and we’re told one is being snapped up every five minutes…..really?
There is no doubt tenant demand outstrips supply, and the result of the election looks as if the UK property market is set for further growth due to the stability it brings………….. Great news for Landlords but where are the properties for all these new investors to buy?
In the South Manchester/North Cheshire area in which we operate, new build stopped abruptly with the property crash in 2008 and it is only now that we are seeing the re-emergence of newly built homes in this area, and from what I can see in the main they are tending to be family detached properties not the 2 and 3 bedroom properties tenants crave.
So I’m sorry Mr Landlord you may have to wait a bit longer for those landlord desirable properties to arrive on the scene but where there is a demand there will be a supply – watch this space.
Local estate agents, Gascoigne Halman are delighted to announce that their Lettings Division have won silver at the Lettings Agents of the Year Awards, in association with The Sunday Times and The Times.
Gascoigne Halman collected the silver award for Best Medium Sized Lettings Agency (Northern) at the glittering awards ceremony which was held at The Lancaster London Hotel last week. Marathon ace Paula Radcliffe, MBE presented Gascoigne Halman with their prestigious award.
As part of the judging process, a panel of industry experts including The Property Ombudsman Christopher Hamer and David Cox, Managing Director of ARLA as Arbiter, assessed the company’s daily operations and customer handling processes. Further procedures were scrutinised via independent mystery shoppers and interviews, as well as the revision of customer feedback. The judges were particularly impressed with the high levels of staff retention present at Gascoigne Halman.
Competition was tough this year with over 550 agents, represented by over 5,000 offices all vying for a slice of recognition.
Commenting on the win, Philip Chadwick, Lettings Director, Gascoigne Halman said, “We are delighted to be awarded silver! This achievement is due to our extensive professionalism and fantastic customer feedback. Our high percentage of staff retention shows that we have a healthy working environment and results in our team being present at the offices for a number of years, meaning we have extensive knowledge of the local area and are longstanding members of the local community.”
Paula Radcliffe MBE presenting Philip Chadwick with the award.
The Bank of England base rate has been held at a record low of 0.5% for the 75th time in a row.
We are continuing to see economic growth and with inflation remaining low, the Monetary Policy Committee would have seen no reason to increase the base rate
This is certainly good news for borrowers as interest rates are at a record low, with Residential 2 year fixed rates from 1.28% and Buy to Let 2 year fixed rates from 2.09%.
Gascoigne Halman Private Finance are directly authorised and as such have access to the whole of the market including exclusive rates not available on the high street.
Your home may be repossessed if you do not keep up repayments on your mortgage
Interest rates are set to rise in the second quarter of 2016, according to the recent Bank of England’s Inflation Report
The Bank of England’s base rate is currently into its 6th year of remaining at 0.5%, which is not good news for savers but very good for new borrowers and those who are looking to remortgage.
Consumers have been enjoying historically low mortgage rates and the strong competition between lenders has continued to make attractive rates available.
The report brings good news for anyone seeking a mortgage in the second half of 2015, with lending approvals forecast to rise and borrowing costs remain low.