Bank of England – Base Rate not moving

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Breaking News:

Angus Stewart, Chief Executive of online broker, Property Master commenting on today’s news from the Monetary Policy Committee that the base rate would not be increasing said:

“It does seem as if we have been marched up the hill somewhat by speculation that base would move today but the decision to hold will be received by landlords with a breath of relief.�

Mr Stewart continued:

“Our recent Mortgage Tracker research showed that there are some good deals out there for landlords looking to remortgage or expand their portfolios.  We found that average five-year fixed rates have fallen since the start of the year despite all the speculation around base rate.  Typical savings ranged from £5 to £15 per month.  A number of two-year fixed rates had also fallen.�

Buy-to-let rates have fallen since the start of this year despite base rate rise speculation.

The cost of a typical five-year fixed rate buy-to-let mortgage has fallen since the start of the year despite speculation that at some point the Bank of England will increase base rates again according to a new Mortgage Tracker launched today by Property Master, the digital start up that uses algorithms to match the requirements of individual private landlords against the entire buy-to-let mortgage market of some 2,000 plus products.

Property Master’s Mortgage Tracker also revealed that two-year fixed rates based on 65% of the value of the property and 75% of the value of the property also declined from January to May 1st of this year.  Only two-year fixed rate mortgages for 50% of the value of a buy-to-let property increased over the five-month period and then by 0.42%.  Angus Stewart, Chief Executive of Property Master says, “This is quite a significant increase and perhaps reflects that there are fewer lenders discriminating at the 50% LTV level.  Lenders are clearly taking margin here and giving back on other LTV levels.�

Savings on a five-year fixed rate buy-to-let interest only mortgage on a typical property worth £180,000 ranged from £5 to £15 per month and on some two-year fixed rates from £10 to £15 a month.

“Our findings show that there are some very good deals out there for landlords despite worries over any future increase in base rates.  The Monetary Policy Committee meets again this coming Thursday (May 10th) so we will see what happens then but there may be other factors operating in the buy-to-let market which explains the decline in costs that we have seen,� said Angus Stewart, Chief Executive of Property Master.

Mr Stewart continued: “Our findings come on the back of recent research revealing that the number of buy-to-let products currently on the market has reached a record high[i], so it could be that we are seeing landlords benefiting from unprecedented competition amongst lenders for their business.  This is very good news indeed.�

The Property Master Mortgage Tracker follows a range of buy-to-let mortgages for an interest only loan on a typical £180,000 worth property.  Rates from 18 of some of the biggest lenders in the market including Barclays, NatWest, RBS, the TSB and Virgin money and BM Solutions (full list below) were tracked.

Property Master was launched almost a year ago and aims to shake up the current buy-to-let mortgage market currently served by around 12,000 mortgage brokers.  It has already attracted financial backing from a broad range of private investors including a minority stake being taken by LSL Property Services, whose estate and letting agency brands include Your Move and Reeds Rains.

Property Master recently concluded a successful round of crowdfunding through the Seedrs site.  Property Master is automating what was a manual, complex process to provide landlords with a free easy to use mortgage search tool which provides a mortgage quote that’s pre-screened against each lender’s specific criteria.  Over 10,000 landlords have already tried the service and a typical re-mortgage saving is around £1,800.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Bank of England – Base Rate not moving | LandlordZONE.

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Minimum room size plans ‘fundamentally flawed’ says RLA

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The Government’s impact assessment into plans to introduce minimum room sizes are ‘fundamentally flawed’, with the RLA warning that unless the shortcomings are addressed the regulations are open to challenge by judicial review. As of October this year, a national minimum bedroom size will be introduced for all licensed HMOs, in a bit to tackle overcrowding, with […]

The post Minimum room size plans ‘fundamentally flawed’ says RLA appeared first on RLA Campaigns and News Centre.

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Fifth Anniversary of the National Landlord Investment Show

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Landlord Show:

Yes, it’s five years since the National Landlord Investment Show got started in Croydon, South London.

Meet the founders of the National Landlord Investment Show

Q&A with Tracey and Steve Hanbury

As the National Landlord Investment Show prepares to celebrate its fifth anniversary at Aston Villa Football Club on Wednesday May 16th, it’s time to meet the people behind the shows to find out what makes them tick.

The Midlands event taking place on May 16th marks five years to the day that the first National Landlord Investment Show took place in Croydon, South London in 2013.

Ahead of the fifth birthday celebrations and another jam-packed show, Tracey and Steve Hanbury, directors of the ‎National Landlord Investment Show and Landlord Investor Magazine, tell us all about how the shows started, their long-term involvement in the property market and provide some useful advice for landlords…

Q: What’s your background and why did you decide to launch the National Landlord Investment Show?

Tracey: “I started my career in advertising back in 1997 and worked for Trinity Newspaper Group. I then went on to work for a publishing company and sold portfolio advertising solutions across magazines such as OK! and Sainsbury’s.�

“I then landed a job as an international sales executive for an American company and travelled all over the world, working on a portfolio of magazines and trade exhibitions across the telecoms sector.�

“Steve and I meet at a marketing company back in 2002 and so the journey began…�

Steve: “I worked for a marketing and telecoms company heading up sales. I then went on to work for Countrywide as an estate agent. In 2011, I went into property full-time with my Dad and then Tracey and I launched the shows in 2013.�

Tracey: “We started the National Landlord Investment Show as a regional show after seeing a huge gap in the market where we could offer landlords a great event that would help them grow and retain their portfolios.�

“We chose buy-to-let hotspots throughout the UK and then set up the shows in these locations. We looked at our own experience of being fairly new into the market place and thought it would be a great idea to provide a platform where new and seasoned landlords could attend a one-day event in their area, providing them with the opportunity to meet with leading suppliers and attend seminars to gain valuable information.�

Steve: “Since then, we have grown into a national company, running our events in major cities. This includes three events per year at London Olympia, each attracting over 4,000 UK portfolio landlords. We also take our events to Manchester, Cardiff, Liverpool and still run some regional shows.

Q: Have you always been interested in the property market?

Steve: “I have been brought up around property my whole life. My dad, Les Hanbury, has been a landlord for over 40 years. I spent a lot of time going to properties with my dad, helping him strip them out and getting them ready for rental. We attended many auctions and I got the buzz for property at a young age.�

Q: How has the market changed since you started the National Landlord Investment Show?

Tracey: “We launched the shows in May 2013 and we have seen a huge amount of change during this time, most notably increased government intervention in the rental sector.�

“Some of the biggest changes that have occurred while we have been running the shows are the introduction of the Right to Rent scheme, the 3% stamp duty surcharge on additional properties and the gradual phasing out of buy-to-let mortgage interest tax relief.�

Steve: “It’s industry changes like these that make the shows even more important. Landlords need somewhere to go to gain advice, keep updated about what’s going on and speak to other landlords in a similar position.�

Q: Are you landlords? What type of properties do you own?

Tracey: “We are landlords and this part of the business we run with Steve’s dad, Les. We purchased our first House in Multiple Occupation (HMO) in East Croydon back in 2004.�

Steve: “As a family portfolio, our properties range from three to four-bedroom properties which are let to the private sector and we also let out through various council schemes in areas such as Bromley, Croydon, Lewisham and Sutton.�

Tracey: “We have also ventured into the Build to Rent market and this is headed up by our brother-in-law, who is currently in the final stages of a five four-bedroom house development in Kent.�

Q: What is the best thing about being a landlord?

Tracey: “Hopefully building a bright future for our families and providing good property for our tenants.�

Q: What is your one piece of advice for landlords starting out?

Steve: “Make sure you do your due diligence. Check everything like transport links and local schools. Is the area a good regeneration area that will be more profitable in the future? Seek professional advice, attend events like ours where you can meet with reputable suppliers and attend invaluable seminars.�

Q: Birmingham is fast becoming a buy-to-let hotspot. What opportunities does it offer investors?

Tracey: “Birmingham has quietly been becoming one of the UK’s best investor hotspots in recent years. This is down to a number of factors, including huge regeneration, affordable property prices, growing employment opportunities and ever-increasing rental demand.�

“Ahead of the show, we’ve taken a closer look at Birmingham and what it has to offer in our article ‘Here’s why Birmingham has become a buy-to-let hotspot’.â€�

Q: What is the most challenging part of your day-to-day job?

Tracey: “Steve and I have organised 56 events since our launch in 2013 and also launched this magazine back in 2014. Working in events and publishing is not for the faint-hearted and we have to make sure that we are super organised. Our day-to-day can involve client meetings, marketing schedules, sales meetings and much more!�

Steve: “As event organisers, it is our job to ensure that we have the correct type of exhibitors at our events, engaging speakers and also attract an audience of UK portfolio landlords. Our daily schedule is jam-packed and with two boys aged 14 and 11, you can imagine there are not enough hours in the day to get everything done! That being said, we absolutely love what we do and would not change it for the world.�

Q: What can landlords learn from attending the National Landlord Investment Show?

Tracey: “The shows are all about getting out there and seeing what is going on in the industry. Things change so quickly that it’s vital for landlords to stay one step ahead.�

Steve: “We aim to put on a varied programme which includes exhibitors, seminars and expert advice to cater to all needs. We’ve also found that it can be difficult for landlords to interact with each other, learn from one another’s mistakes and make friends with people in a similar situation. The National Landlord Investment provides the platform for this and we look forward to the next five years of shows across the country.�

For more information, visit: https://www.landlordinvestmentshow.co.uk/midlandsshow

The latest issue of the Landlord Investor Magazine is available here

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Fifth Anniversary of the National Landlord Investment Show | LandlordZONE.

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