One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January.
Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, with two-thirds having knowledge of the changes to mortgage tax relief and the impending tenant fee ban.
Less well known are the reduction in Capital Gains Tax for non-property investments, and knowledge of the minimum rent to mortgage cost ratio required by lenders to approve a buy-to-let mortgage.
The survey notes that legislative changes are considered the main concern for current landlords, while agents are more concerned about tenant behaviour.
If you are a Landlord, or thinking of becoming one and you too were unaware of these legislative changes, please get in touch with me and I would be more than happy to discuss these with you. Now is also the perfect time to take advantage of the current offer of three months free management we have available for new Landlords as well as existing Landlords who are bringing new managed properties on with us. The majority of our property management team are ARLA qualified and would be happy provide you with stress-free management and piece of mind for your property or portfolio. Please do not hesitate to get in touch!
Currently on the market with Gascoigne Halman, Marple Bridge is this fantastic investment opportunity. This NINE bedroom property situated on the desirable Hollins Lane, Marple Bridge consists of nine one bedroom apartments offering a fantastic 7% yield! This property also offers fantastic development potential subject to the necessary planning permission.
The plot itself extends to approximately 0.3 acres and is offered with vacant possession. According to the selling agent the apartments have provided a gross rental income of £40,000 which could be improved further with some updating. The property also benefits from ample off road parking and is ideally situated close to Marple Bridge Village with transport links in to Manchester City Centre.
An exciting, brand new offer that we have launched across Julian Wadden is offering new or existing landlords the chance to get 3 months free management fee’s. This offer is only available for new properties and can’t be used with any current properties you may have with us. Please see the video below for more details:
Reduced yesterday to £110,000 is this two bedroom apartment situated in Chamberlain Gardens, Bredbury offering a fantastic 6.8% yield, based on £625 pcm, which we are currently achieving on another apartment in the development.
Currently on the market with Country Holmes, Glossop this property would be a great addition to your buy-to-let portfolio offering such a high yield for the area. Being offered with no onwards chain this apartment consists of a lounge with Juliette balcony, two bedrooms, a modern fitted kitchen and a family bathroom.
Externally there is allocated parking and communal gardens. The property being located so close to Bredbury train station giving you access to Manchester City Centre, it will appeal to the professional market in particular.
** PROPERTY OF THE WEEK – FERNWOOD, MARPLE BRIDGE ** A fantastic four bedroom detached property in a sought after location. Offering fantastic views, a high end finish throughout and more than enough accommodation for the whole family. Currently on the market for £1750 pcm. Please click the link for more info.
Situated on Marina Road, Bredbury is this two bedroom semi-detached property. Internal and external photo’s suggest that it needs a overhaul, bringing everything up to date but once works done you would still be achieving over a 5.6% yield.
Offering an entrance hallway, separate lounge, kitchen/diner at the back with a conservatory extension. Upstairs the property consists of two double bedrooms and a family bathroom. Externally the property needs fully cutting back and opening up.
This is a project property and needs fully ripping out and modernising. The property is currently on the market for £140,000 with Edward Mellor, Woodley and with approximately £20,000 spending on it your yield would still be a fantastic 5.6%, this is based on £750 pcm.