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Renting now more expensive than buying in all areas of UK By Emma Simon 20th June 2018 10:04 am Average rental prices are now higher than average mortgage repayments in every region of the UK, according to research from Santander Mortgages. According to Santander the average rent in the UK now stands at £912 per household, compared to monthly mortgage repayments of £723 for the average first-time buyer. This equates to savings of £189 a month or £2,268 a year for the typical first-time buyer. Read the full story here: https://www.mortgagestrategy.co.uk/renting-now-more-expensive-than-buying-in-all-areas-of-uk/?platform=hootsuite- 16 replies
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Hello, I’m after some advise on my strategy. I have 2 options. I currently rent out one property and have done for 5 years. I am currently living in rented accommodation at the moment. What would be the best option without going into too much detail I have summarised the two options below: Option 1: > Continue renting out my rental property. > Continue living in rented accommodation. > Buy another investment rental property for around £100k (add money by renovating) and rent out. Option 2: > Continue renting out my rental property. > Buy a house to move into and live in for around £250k (add money by renovating). I would base the return percentage as being the same for both new properties within the options. Any advice on the above would help. Thanks
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I have been thinking of investing my money in Manchester but don't fancy the travel. My question to you all would be would have you ever purchased a buy to let (or anything) without physically seeing it? if Yes what did it take to make you feel easy doing it? If No, Why? Thanks!
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Hi everyone! Newbie investor here, currently working on our 1st and 2nd investment property. Going forward I'm looking to purchase future properties in a limited company and would appreciate any help on the steps required to set up a limited company and any advice and pitfalls to avoid during the process. Also wondering if anyone rents off their own limited companies and whether that makes things cheaper at all or whether it makes sense economically. Looking forward to getting stuck right in to the forum! Thanks in advance!
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Hi everyone my name is Jamie and thought I would introduce myself! I am a part of a new prop-tech startup from Bristol called Bunk. Bunk is the UK’s first end-to-end lettings ecosystem, connecting landlords with pre-verified tenants to make your entire journey effortless. From finding tenants, to signing contracts, collecting rent and reporting maintenance - Bunk handles it all. Through the benefits of digitisation, we automate the rental journey to provide a seamless, hassle-free experience for everyone. We provide the tools for everyone involved to manage everything on one platform without the need for traditional agents. For tenants, you can search, sign and secure your property with our innovative platform in an instant as well as using Bunk to pay your rent and report any maintenance issues you have directly to your landlord. For landlords, we provide an easy-to-use management dashboard to allow you to list your property, manage offers, contracts and, once moved in, any rental payments and maintenance issues. Our platform is very close to our launch date now, so I am very interested in speaking with landlords with and around the Bristol area to get feedback on our platform and work in cohesion to create the perfect management tool for them. It would be great to chat to anyone in Bristol who is interested. All the best!
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Hi John here, I'm looking for a bit of advice regarding property in general to see if its something which would make financial sense. I've looked at it in the past however with lack of funds it hasn't been viable. Recently I have come into some inheritance due to a family member passing away and instead of spending it, I would like to invest it into something that will continue to grow. Little about me - 24 Years old, Salary 20-25k, Lump Sum £125k. What I'm Looking for - - Should I invest in a house or flat?, I understand that houses are usually less and incur no service / ground rent charges? however flats seem more desirable. - For my first investment, what should I look at buying? any Tips/Tricks? - Is a Buy-to-Let mortgage a better idea or should I buy it outright? - Should I go for fully Managed or rent only with an estate agent (any estate agent recommendations in the north west would be great) Thanks for you time.
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Just wondering as a newbie to property investment, is letting a barn conversion a good choice and if so why? The main reason I am considering it is with my estimated numbers it is substantially cheaper than buy to let in a town or city. on the other hand the problem I see is that the demographic that rents property is not willing to live rurally due to commitments (work, school) in the towns and cities. Any more input is appreciated.
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Hi all, I was having a lively discussion with some fellow investors and wanted to hear what people on this forum think. Whether you're a seller or a landlord, how do you choose which agent to market your property? I've had 3 projects with 3 different agents and I can't say I've nailed down a system yet. First, I went with the cheapest, thinking it was good business sense. But of course, you get what you pay for, which I learned the hard way. Then I went for the agent who originally sold me the property - thinking they know the property and how much work I put in renovating it. And lastly I went with a personal recommendation from a friend who had a good experience. All 3 eventually sold, which means I can't complain too much, but I want to develop some kind of rule/decision process to make this easier. What does everyone else do?
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Hi everyone, My name is Grace, I'm a TV Researcher at a company called Boundless Productions. We are making a new BBC One series about landlords and today's rental market and have filmed 3 episodes and have been commissioned to make another 2. I am hoping that people will be willing to chat to me about their experiences as landlords from when they first got involved in property up to the present day. The outline of the programme is as follows: We are looking for successful landlords with different stories and reasons to want to get to know their tenants and properties better and they will do this via a social experiment of spending a week as one of their tenants. It's important that the landlords go on a personal journey and are genuinely interested in finding out what it's like to be a tenant in today's market and we are looking out for interesting stories to justify a landlord moving into their rental property for a week. So that might be, for example, wanting to explore how their own lives and expectations have changed from when they were a renter, it might be that their business has grown to such a degree that they feel removed from their tenants and properties and would like the opportunity to go 'back to the floor'. The aim of the programme is a journey which will allows landlords to improve their knowledge of today's rental market - and their own properties - by experiencing them first-hand as a tenant. It is also an opportunity for the landlords to explore and reflect on how the rental market is changing in Britain and what challenges come with that - for both landlords and tenants. We are fast becoming a nation of renters and this is an interesting (and hopefully fun!) way of exploring the rental market. How is the market changing? How are tenants' demands changing? Do expectations and demands rise with prices? If anyone is interested and wants to have a non obligation chat then please feel free to drop me an email at grace.hetherington@boundlessproductions.tv Thanks for reading Grace
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Hi We are considering purchasing a buy to let in Colchester or close proximity to Colchester e.g. West Bergholt. The location is based on a number of factors which include: house prices, rent levels, proximity to commuting into London as well as other employers and the student market within the town itself. It's also an area we know relatively well. I would welcome any thoughts on the current market, which locations fair best in terms of easy to let properties or general knowledge about being a Landlord in and around Colchester. thank you Lorraine
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Hi guys, any oracles out here that can share/direct me to stats showing: rental demand per room across the UK regions? Thank you
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Hi there, I'm a student currently in university who has become interested in property and the whole business behind property. being new to this industry there is much that I don't understand, so first, I was wondering if people would be willing to answer the questions I list without scoffing at my naivety. 1) when looking at buying a property to let do many investors take account of the time to pay off any loans through the profit from the rent rather than just the amount of rent they will receive? 2) If you wanted to get comprehensive data regarding a property you were interested in would you have to go through an expensive advisor or estate agent who will provide you with figures you could probably work out yourself if you had the time? thanks for any help
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Hi, I need some help. I would like to know how I can find out how long it takes for a house in my area to be rented. The reason I am asking is because I am looking to rent out the property myself and deal with the tenant. With regards to finding a tenant, if it doesn't take too long to find a tenant, I can possibly do it myself. Whereas if it will take several days and viewings to conduct, I'll get a estate agent to source the tenant but still conduct the referencing myself. Thank you. Pat -
So a new piece of legislation determines that tenants can make improvements to your property if it makes your property more energy efficient. Sounds like the stuff of fairytales really, but have any of your tenants actually requested to make such improvements at their own expense?? It's one thing to offer to slap on a new coat of magnolia, but quite another to propose replacing an old boiler! Still, it's definitely worth noting that from 2018 it becomes illegal to re-let a property that has an energy efficiency rating of less than E, and Landlords with existing tenants living in a property with a rating of less than F will have to make suitable improvements by 2020. Do any of your properties fall into these categories? If so, you'd better plan ahead now. -
A new Twitter trend is fast gaining pace as 'Generation Rent' expose their worst renting stories with the hashtag #ventyourrent See for yourself here. Time for shady Landlords to feel decidedly #awkward - not that there's any of those here of course
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Hi All I see there's a lot of ads (in North London) trying to persuade landlords to rent to councils through a nationwide scheme called Let 2 Barnet. Does anyone have any experience of this - and - experience of renting out through councils in general? Many thanks Pete -
Has anyone had any issues with the local council when operating a bed and breakfast property via airbnb? I have heard that it is ok so long as you don't have more than 3 separate family members but if you have say 2 rooms rented but have 2 guests who are only friends (not family) in each of the rented rooms... Then it falls foul of the new rules! I have also heard of landlords now refusing to rent a house to more than 2 students unless they are related due to this strange rule.. when in the past you could have 5 or 6 students sharing the rent with their own bedrooms. This is in the Bedfordshire area.
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Hi all! I recently discovered this article that suggests buying a house now, whether it's residential or BTL, is a terrible idea. I would be interested to know what your thoughts. Matt https://www.linkedin.com/pulse/fallacy-home-ownership-siam-kidd?trk=prof-post
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I am looking for some advice please. I am struggling to sell my house at the moment so I have looked into selling or renting to a housing association, has anyone had any experience of this? If anyone has any advice or could share their experience this would be really appreciated.
