5% Potential Rental Return - Waltham Rise

Fantastic family property for sale on Waltham Rise just off Baldocks Lane and is being marketed by Melton Premier for £169,500. 
You would be looking at 4.7% - 5% return on the investment and long term tenants so it might be the type of property an investor looking for a pension income may want to consider. 
The interior looks to be in great condition too so not a lot of work required to get it let!

http://www.rightmove.co.uk/property-for-sale/property-71081660.html

    

Asfordby Valley - 2 bed semi detached would achieve £600 pcm

This 2 bed semi-detached property is being marketed by Middletons for £149,950. It is in Asfordby Valley, has a nice garden and a modern dining kitchen. It wold easily achieve £600 pcm on the rental market and I think would appeal to tenants looking for a long term rental property.

http://www.rightmove.co.uk/property-for-sale/property-64658122.html

 

Rosebery Avenue - 3 investment properties on the market...

It looks like there is landlord selling a chunk of a portfolio on Rosebery Avenue near the centre of Melton Mowbray. There are three terraces being marketed by Newton Fallowell - all in the region of £125,000 with tenants currently paying £535 pcm. 

These properties always let well if they are well maintained and give a potential return of over 5% from day 1.

http://www.rightmove.co.uk/property-for-sale/property-64731055.html

6% Potential Return for £90k investment in Melton Mowbray

We love a smart 1 bed quarter house - this would let for £450 pcm straight away! This is listed for offers over £90,000 with Mike Ford and could give a 6% potential rental return...

http://www.rightmove.co.uk/property-for-sale/property-71963228.html

    

Energy Efficiency Regulations for Landlords Effective 1st April 2018

From the 1^st of April 2018 all properties rented out in the private rented sector must have an EPC rating of E or above. This applies to all tenancy renewals and new tenancies after the 1^st April.

It will become unlawful to let out a property with an F or a G rating unless there is an applicable exemption.

Landlords doing so can face a civil penalty of up to £4000. Demonstrating that a tenancy has been correctly set up is required when looking to carry out an eviction so it is crucial that landlords are aware of the regulations.

The government have also announced that from the 1^st April 2020 every let property with an EPC rating of F or G will be required to improve the energy efficiency of the property. It really is time to plan improvements if your property falls into the F and G bands.

There are exemptions that can be applied for, if the property is listed or in a conservation area for example, where the work would not meet planning guidelines. The local planning office will advise on this and I am sure there will be a cost to applying for the exemptions.

It is a good idea for landlords to be prepared and plan for any improvements prior to their property coming up for re let. Many properties have EPC’s dating back to when they were first required and are due to be re done as they have now reached to 10 year mark.

The first thing to do is to get an upto date EPC done as the way in which these are assessed has changed over the years and it may be that the rating on the property has changed. Before this is done it is advisable to take some cost effective measures to improve the properties chance to get above the F. Sometimes simple things like energy efficient light bulbs can make all the difference.

Some local authorities also offer grants to help landlords improve the properties and there are schemes out there to help with insulation.

We are talking to all our landlords that this may affect and should you wish to discuss anything related to your rental property please feel free to give me a call.

Charlotte Baker Belvoir Melton Mowbray 01664 569700

3 Bed Potential Investment property in Melton Mowbray

This 3 bed on Edendale Road is listed with House Simple for £170,000. These 3 beds easily let for £650 pcm, they have large bedrooms and a dining kitchen so suit the family renters. 

This property looks like it could be a quick turn around for the rental market - an easy 4.5% return if purchased for the asking price...

http://www.rightmove.co.uk/property-for-sale/property-72059060.html

  

What will the Property Market look like for Landlords and Tenants in Melton Mowbray in 2018

With the news still being full of discussion about Brexit you would be forgiven for thinking it was the only thing the UK population were interested in! Talking to people in Melton Mowbray there is a lot of concern about the local housing market.

The summer of 2018 should see the Melton Local Plan adopted. This is Melton Borough Council’s housing and infrastructure plan for the town and local villages over the next 20 years.

In the pipeline are housing developments on Nottingham Road, Ankle Hill, Leicester Road and Spinney Road along with smaller sites in many of the villages.

After a lengthy period of few major housing developments in the area local people can now breathe a sigh of relief. Anyone looking to move house will be aware of the shortage of property on the market for sale and this has pushed many people to rent to accommodate their growing family.

The numbers of properties to rent are low too, as anyone searching for a good quality rental property will be well aware. To secure a property they need to make a decision within minutes of viewing before it is snapped up by the next potential tenants looking. If tenancies are lasting longer then surely tenants should be able to be more selective.

The additional properties coming onto the market should hopefully balance things out a little. More properties for sale and to let will inevitably give people more choice and encourage more activity in the housing market. We need more first time buyers to help those further up the chains move on but also investors so those looking to rent have choice and can find suitable property.

We need some balance in the housing market and I think the new developments will help to provide this. We are looking forward to 2018 being the start of the growth of the town that will allow more people to find their home and enjoy living in and around Melton Mowbray.  Melton Mowbray offers good employment opportunities and schools and it will be great for those coming into or back to the area to have more housing options.

If you are considering investing in a buy to let property follow this blog or give me a call on 01664 569700 to discuss potential investment properties and rental returns.

Long Clawson 2 bed property 4.8% potential return

Rural properties are in high demand from tenants as they do not come onto the market very often.

This 2 bed ground floor apartment is being marketed by Mike Ford for £147,500 and would let for £595 pcm. Its the type of property that would see minimal void periods and as it is in good condition internally should let really quickly. 

http://www.rightmove.co.uk/property-for-sale/property-71125520.html



    

Potential Investment Opportunity - Currently Tenanted

We have a landlord looking to sell a property on Fleming Drive, Melton Mowbray.

The current tenants have been living in the property since February 2016 paying £550 pcm rent. If this came up for re let it would currently achieve £595 pcm.

The landlord is looking to sell the property for £150,000 and this is your opportunity to consider this investment property before it is listed with an estate agent.

You could be getting a yield of 4.7% from day one and improve that return in the future.

This is a 2 bed Barratts property built around 2009 with an enclosed rear garden. These properties are on the development at the top of Doctors Lane and are very popular with tenants. If you would like to arrange a viewing or express an interest please let me know.

Charlotte Baker Belvoir Lettings 01664 569700

Buy to Let investment that will appeal to Families in Melton Mowbray

This 3 bed extended semi is on the market with Anthony Hancock. It is located on a popular estate to the south of Melton Mowbray and has been extended to create a good size kitchen. 

As it has a garage it would easily let for £675 pcm and with an asking price of £185,000 it could make a good investment. Its certainly the type of property to let quickly and have minimal void periods...

http://www.rightmove.co.uk/property-for-sale/property-70480955.html

House Prices Rise the Fastest in the East Midlands - but what about Melton Mowbray?

Recently the BBC reported that the property prices in the region rose by 7% in the year to October - the largest rise in the UK  - according to the Office for National Statistics (ONS).

http://www.bbc.co.uk/news/business-42322596

Delving deeper into the report and targeting the Melton Local Authority house prices have seen an annual 6.07% increase in value from October 2016. Melton has seen a healthy increase in house price values through out the year peaking at 11 % for January 2017 vs January 2016.

Statistics are useful but a more detailed calculation of the value of a property you have invested in can be predicted by using the stats on sold prices Rightmove put together. You can look at the value property achieved on the same street or estate. 

it is important to ensure that your investment is working well for you, rents are increasing - is your investment property achieving the best return it can? 

If you would like to discuss the Melton Mowbray property market give me a call 01664 569700. Charlotte Baker

Portfolio Landlords Facing Mortgage Difficulties

Buy to let investors with 4 or more properties in their portfolio are starting to feel the impact of the change in regulations for lending that came into force in September this year.  I was speaking to Tom James at Thomas Nicholas Financial Services, based in Melton Mowbray, to find out what impact this has had for local investors.

He explained that previously lenders assessed a buy-to-let mortgage applications based on the rental income and property value of the property they are lending against. From 30 September 2017, any landlord who owns four or more mortgaged buy-to-let properties will have to submit income and mortgage details on all of them every time they re-finance one, or purchase a new property.

This has hit investors looking to purchase another property for their portfolio or looking to re-finance their properties. The criteria has become much stricter than we have seen in the past so lenders are refusing to remortgage a property that previously fit their criteria.

This is resulting in some landlords increasing the equity they have in a property, considering selling their investment property and in some cases deciding not to invest in additional properties. This is not good news for tenants, who in Melton Mowbray are seeing rents continue to rise as the stock of available rental property does not satisfy the high demand in the area. 

You can do something to minimise the impact of these changes.

It’s vital that a landlord with a portfolio of properties regularly assess the rental levels to ensure they keep up with the current market rates.  Inspect the condition of your properties, it is vital they are being kept in a good condition to ensure you receive the maximum return on your investment and to minimise void periods.

If you would like to review your current portfolio performance please contact me to arrange a no obligation meeting to assess the current rent and property conditions.

You should also contact Tom and look at the lending you have in place to ensure you are fully aware of what you should expect when you need to renegotiate your borrowing.

Charlotte Baker - Belvoir Lettings Melton Mowbray 01664 569700

Tom James - Whole of market, free of charge mortgage advice: 0330 1200324

6.5% return on a £60K investment in Melton Mowbray!

These little studio apartments regularly let for £325 pcm and at a £60,000 investment it is in reach for first time investors or someone looking to add to their portfolio. 

This one looks to be in good order so could be let quickly... 

http://www.rightmove.co.uk/property-for-sale/property-51653187.html

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.