Limes Avenue Investment - 5% return from day 1

We have a landlord looking to sell her investment property. It is on Limes Avenue in Melton Mowbray and is a really nice 2 bed terrace with many of the Victorian features retained. It has a large upstairs bathroom and a private rear garden.

The current tenants are very happy there and have been living in the property since January 2015.
If you were interested in purchasing this property then you would be collecting rent from day 1 and even though it could achieve a higher rent if it came up for re let in today's market - this property is currently achieving a healthy 5% yield.

To arrange a viewing or for more details give me a call on 01664 569700 - Charlotte.

http://www.rightmove.co.uk/property-for-sale/property-62611447.html

New Street Asfordby £107,000 - 6% potential return

This 2 bed property is for sale with Bentons, its on the market for £107,000 and is in Asfordby.

We would be able to let this for £550 pcm which in its current condition but you may be able to achieve a little more with a bathroom upgrade ...

http://www.rightmove.co.uk/property-for-sale/property-61523383.html

Buy to let with appeal to the family rental market.

In Melton Mowbray we see a huge demand for rental properties that would suit a family. When I saw this one on the market for sale on Nottingham Road with Richard Watkinson I thought it would really suit several of the families we have registered with us at the moment. 

It is a 3 bed house with off road parking at the rear (this is a busy road so you would need to have parking if you were living on Nottingham Road). The house looks to be in good order, it could possibly do with a kitchen upgrade in the future but the bathroom looks to have been recently fitted and there is a large enclosed garden. 

This would easily let for £625 pcm which would give a potential 5% return if it was purchased for £150,000.

http://www.rightmove.co.uk/property-for-sale/property-50800860.html

5.5% Return on a £120k investment? This 2 bed has to be worth a look....

This is a lovely terrace for sale with Newton Fallowell on North Street in Asfordby Valley. We have let one just along the street for £550 pcm  and if you purchased this for £120,000 this would give you a 5.5% return on your investment. 

It looks to be in good condition so should need little work to get it ready to let. 



http://www.rightmove.co.uk/property-for-sale/property-62103535.html

Best buys in and around Melton Mowbray under £125k this week 12/9/17

Newton Fallowell are advertising this 2 bed apartment in the Beckmill development for £115,000. We currently achieve between £550 and £575 pcm for this style of apartment in this development. It does give a good potential return but with and flat there is always the ground rent and block management fees to consider.

http://www.rightmove.co.uk/property-for-sale/property-61770247.html

        

Newton Fallowell are also advertising this apartment just off the Leicester Road. It has 2 beds and an en-suite. It would easily let for around £550 pcm  so you would be looking at a potential return of 5.5%.

http://www.rightmove.co.uk/property-for-sale/property-61340026.html

        

Bentons have a smart 2 bed terrace property for sale at Asfordby Valley.  Its on the market for £124,995 and has a great kitchen and bathroom. The garden looks lovely to. It would achieve £575 pcm so again a potential return of 5.5%.

http://www.rightmove.co.uk/property-for-sale/property-50502432.html

          

Please note these values are for guidance only as the properties have not been fully appraised and are based on details available online. The % returns are gross so do not include any running costs of the let or Stamp Duty Land Tax. 

If you are considering investing in property please give me a call to discuss the rental returns 01664 569700 Charlotte.

Stafford Avenue £149,950 - potential 5.2 % return

This is a lovely big 3 bed property on Stafford Avenue. It is for sale with Harrison Murray for £149,950 and is in an area very popular with families. We would expect to let this property for £650 pcm as it has a nice garden and large rooms. 

The lack of parking is overcome by the generous room sizes so it could provide a potential return of 5.2%. It would be very popular with families as there is a good primary school around the corner. 

http://www.rightmove.co.uk/property-for-sale/property-68734205.html

More properties to let on the market this week - Why is it good for Landlords and Tenants?

As tenants tend to stay in a rented property for longer than ever, this has an impact on the number of rentals coming up for re-let.

During 2017 we have seen a decline in the number of houses available to let.  This means that when a property becomes available it is quickly snapped up.

This week however, we have seen more property available due to tenants moving on.

-          Why is this good for tenants? 

If you are a tenant looking to move, whether it is in to a larger or a smaller property, there is more choice available.   This really helps tenants to make the right move for their families and themselves, especially if they could be renting for a longer term.

It should also be easier for those families coming to the area for employment opportunities.

-          Why is this good for Landlords?

When a tenant gives notice the landlord may initially be disappointed.    But the good news is that it gives the landlord an opportunity to reappraise the property and address any maintenance or upgrade requirements.    In turn this should help minimize repairs that may cause an issue during a tenancy.

It also gives the landlord an opportunity to assess the rental market, and the amount of rent the property can achieve, which further protects the investment they have made in the property.

Without Landlords investing in property there would be even less choice for anyone looking to rent.

If you are considering investing in property then it is important to understand what tenants are looking for.    For potential ‘buy to let’ advice please give me a call 01664 569700.

Updated now potential 5.5% Potential Return

****Update this has now been reduced to £187,950 for a quick sale so you could be looking at a 5.5% return ****
This lovely 3 bed family home is marketed by Melton Premier.

Its in Asfordby and looks to be ready to let, 3 beds are in high demand and this has a garage and an en-suite. It would easily let for £800 pcm.

http://www.rightmove.co.uk/property-for-sale/property-49434210.html

  

Tamar Road - This weeks potential investment hotspot!

Two properties have come up for sale in the Tamar Road area this week - details below. This is a popular estate in Melton Mowbray that is mostly made up of good sized 2 and 3 bed houses. This area has always let well, I think because of the size of the rooms and the location is convenient for getting out of Melton towards Leicester. There is also good provision for off road parking for most of the houses on the estate.

The properties are in the vicinity of the Swallowdale Primary and St Francis Catholic Primary Schools and are really popular with families looking for a long term let. 

Depending on the final purchase price both these properties have a potential return of over 5% yield. 

Harrison Murray have this 2 bed for sale on Tamar Road-  for £129,950. It looks to be in good condition and would achieve £575 pcm

http://www.rightmove.co.uk/property-for-sale/property-67719074.html






Shoulers have this on for sale on Loxley drive for £135,000 - it comes with a garage. It looks lovely inside and would easily achieve £575 pcm. 

http://www.rightmove.co.uk/property-for-sale/property-60930883.html

Melton Local Plan – a boost for the Melton Property Market?

I have been hearing about the revised Melton Local Plan that was discussed at the full council meeting on the 4th July.  

There have been a series of amendments made to the plan and these include the number of new properties to be built in the area and the transport strategy – including the relief road.

The full details of the amendments to the plan will be available at www.meltonplan.co.uk where you can review the changes and have the opportunity to make your views known.   I hope the plan continues to move forward as the town really needs to see improvement to the traffic flow.  

There is a massive demand for housing and with so few properties coming onto the market for sale we are seeing prices continue to rise. I believe the lack of properties for sale and to rent in the town are continuing to push up prices across the board.

This is contrary to the national trend of a drop in rents recorded in June vs. May 2017 as the figures released by HomeLet seem to suggest.    In many areas, including Greater London and the South East they are seeing a fall in the average rents of a new tenancy.

The East Midlands though saw a rise on last month’s rents of 3.3% according to the HomeLet Rental index which seems to be showing similar patterns to the Belvoir rental Index for the East Midlands which I talked about last week.

The Melton Plan should eventually outline how the town will grow over the coming years and anyone investing in property or considering investing in a buy to let should keep an eye on the plans.

There are opportunities to purchase houses now that will offer secure and reliable incomes and offer a level of capital growth that will outperform other investment options if you buy wisely.

For honest rental returns keep an eye on my property blog and see what properties are on the market that could fit the bill.   Alternatively if you have seen a property on the market for sale and wonder what it could achieve or if there are any pitfalls with the area you should know about please give me a call on 01664 569700.  Charlotte Baker

Upcoming Auction *guide price £128,000* rent achieved £650 pcm

This property is being advertised by Melton Premier as going to an online auction ending on the 2nd August 2017. the guide price is £128,000 and while it may achieve more than this we have in the past let this property for £650 pcm. 

The real benefit of this 3 bed is that it has off road parking and has been extended. Whilst I have not been inside the house for the last few years it looks from the pictures to be in good order.


http://www.rightmove.co.uk/property-for-sale/property-65935619.html

Kings Road, 3 bed semi - Investment Property

Harrison Murray are advertising this 3 bed property on Kings Road for £154,950. It has been extended and has an off road parking space. 

This is a popular location due to the local primary school and this property would achieve £625 pcm. Its the sort of property that would appeal to a family looking for a long term let so should have minimal void periods for the investor. 

http://www.rightmove.co.uk/property-for-sale/property-67384379.html

Melton Mowbray - reduced to £125,000 potential 5.3% Return

*********Update - this has been reduced to £125,000*************

This may be a terrace on a busy road but it has been extended slightly to offer a larger than usual kitchen It also has a garden and with 3 bedrooms would achieve £575 pcm.
Melton Premiere are marketing it for a shade under £130,000.


http://www.rightmove.co.uk/property-for-sale/property-66672614.html

Average Rents Increase across the UK

The rental index for Belvoir Quarter 1 2017 has been released which looks at the rents Belvoir offices are achieving across the UK.   It is produced by property professional Kate Faulkner and is available at www.belvoir.co.uk.

The overall trend for the UK shows the average rent of a property is at an all time high and up 4.5% versus Q1 2016. 

Looking more locally at the East Midlands our rents in Q1 2017 have recorded a 7.5 % increase when compared to the same period in 2016.  This certainly reflects what we are seeing in Melton Mowbray. 

The reasons for the increase can be due to the larger number of higher value properties, which when coupled with less rental stock in the market can artificially raise the year on year rental increase. 

However we are seeing a new trend in offices throughout the UK.  There are increases in rents where there is a low availability of properties on the rental market.  This is something we see in the Melton Mowbray and surrounding villages.  The demand from tenants and the lack of supply of rental property is certainly increasing the rents we can achieve. 

If you would like advice on what a rental property can achieve give me a call on 

01664 569700 or follow the blog. 

What Would It Cost To Become a Buy To Let Investor?

It's one thing to recommend potential investments to people looking to get into the buy to let market but what are the real costs of becoming a landlord? 

I spotted a two bed terrace on the market with Moores Estate Agents for £94,950; this property is just around the corner from us on Regent Street.  It is a busy road but this property would let for £525 pcm.

http://www.rightmove.co.uk/property-for-sale/property-67099868.html

It looks like a great potential return on your investment of 6.6% but what are the actual costs to get into property investment?

I spoke to Tom James at Thomas Nicholas Financial Services in Melton and he had a look at what buy to let mortgages are available this week.

There is a provider currently offering an 80% loan to value buy to let mortgage which would mean a deposit of £19,000.  On a repayment basis over 25 years the cost would be £372 per month.  With an income of £525 pcm this would leave room for covering the cost of repairs and any tax due.  This is at a 3 year fixed rate of 3.29%.

This is a fee free mortgage but there will be stamp duty to pay (£2850) at the point of purchase along with solicitor fees.

You would expect rents to rise over the period of the 25 years so the margins will only improve and you will have the capital value to help with the pension pot at the end of the term.

If you are considering investing in property give me a call to discuss the costs involved and follow www.meltonmowbrayproperty.com for potential investment properties.

Charlotte Baker 01664 569700

Thomasnicholas.co.uk

6.6% Potential Rental Return - 2 Bed Regent Street £94,950

This 2 bed on Regent Street is on the market with Moores for £94,950. This is a busy road and there is no parking outside but even so it would let for £525pcm. It looks like it might need a new bathroom but the kitchen looks in good condition - it has to be worth a look at a potential 6.6% return on investment. 

It might be the place to take a first step into property investment or add one to an existing portfolio! Give me a call to discuss the pros and cons of the area Charlotte 01664 569700

http://www.rightmove.co.uk/property-for-sale/property-67099868.html

Investment Property for sale in Melton Mowbray £139,000

The landlord for this lovely 2 bed Semi-detached property in Melton Mowbray is looking to sell but he has good tenants so would ideally like to sell to a Property Investor. 

It is a great 2 bed with a garden and off road parking so lets really easily. 

It is not yet on the open market but if you would like more details please give me a call on 01664 569700 

Charlotte Baker

How will the General Election result affect the Private Rented Sector in Melton Mowbray?

The General Election provided a result that no one had expected - least of all Theresa May!

There will inevitably be a period of uncertainty for the Nation added to by Brexit negotiations, inflation and reduction in the value of the pound.   The stock market is at an all time high so has only one way to go.

Against this background those with money to invest should look again at the Buy to Let market.   We have reasonable house prices compared with other parts of the UK, making investing in property an achievable aim.
In addition we are currently seeing an increasing demand for houses to rent from a high proportion of the local population choosing and needing to rent.   

Demand for housing will continue to outstrip supply in Melton Mowbray.

We need a balanced housing market for the town; remember that without investors coming into the market the supply of rental properties will be low and rents will continue to increase.

If you are considering investing in a property then think wisely about your opportunities - do your research and remember that as an investment it needs to perform well.          

Come and talk to us about the pros and cons of being a Landlord and take advantage of our considerable experience in the local marketplace.  There is no obligation and we will help you understand all the costings to make sure that it is the right choice for you.

Charlotte Baker 01664 569700 

Family home on Meadowsweet Close - secure yield and good capital growth potential

This is a really nice family home on the market for sale with Richard Watkinson for £180,000. It is advertised as no chain and this is a lovely estate so it would easily let for £ 675 pcm. 

This could give a potential return of 4.5% but more importantly it is the type of house that would see a good rate of capital growth over the long term. With this type of property there would be minimal void periods and maintenance cost should be at a minimum as it was recently built.


http://www.rightmove.co.uk/property-for-sale/property-48807645.html

Melton Mowbray house values increased by over 9% since the last election.

We last went to the Polls in May 2015 and a lot has changed for the UK since then.    So how has this affected the Melton Mowbray housing market?

There is a lot of talk at the moment of how Brexit could affect the housing market.    I believe a lot of it includes the London property market which could be greatly affected as there is so much foreign investment to consider.

I wanted to look closer to home; I like to understand how the properties my landlords have invested in have performed for them.   Many of my landlords have invested in Melton Mowbray as they are local to the area and investing in a location you are familiar with will always feel a safe option.

Give me bricks and mortar any day over stocks and shares!

I looked at the properties in LE13 and LE14 to see what had sold and what prices had been achieved.

I researched sold prices for detached and semi-detached since May 2015.   Interestingly I found that overall house prices in LE13 and LE14 have seen an average increase of 9.09% in that short time.

Furthermore, since May 2015, semi detached properties in LE13 had seen a 4% rise in value; detached properties had seen an average of 13.54% increase during the same period.

Who knows what will happen over the next 2 years?    I am sure of this – people will still need a roof over their heads and with an expanding population, a good location for employment and education, I believe the Melton area will continue to be in demand by buyers and renters alike.

The high prices seen in the London property market may take a hit.   But if you are looking at ‘buy to let’ and choose wisely then you can have a successful property investment.

Contact me for honest rental returns on potential investment properties - Charlotte 01664 569700