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LettingFocus

Unbiased buy to let, property investment and letting coaching, mentoring, advice and seminars for landlords from top selling property author and media commentator.

Landlords, Rents and Buy to Let Mortgage Loans by LettingFocus.

Richard S, one of the regular attendees at my landlords networking meetings, highlighted the dangers of landlords who have borrowed too much relative to the value of their properties.
Particularly at risk are those investors with high loans to value and who have a special mortgage rate deal (usually a low fixed or discounted rate for a period) which will soon end.

HOUSE PRICES

His opinion is that there is every chance that house prices will remain static, at best, for the foreseeable future.
I’m a bit more positive. I think house price growth will be slow but steady just as long as mortgage financing (high deposit requirements, high margins over base and high fees) remains restricted.
However, I think nil or negative price growth is likely in oversupplied and under populated parts of the country, especially areas which have been hit by significant job losses.
Once mortgage availability becomes better - lower fees, lower deposit requirements and lower margins over base - then house prices will tick up again at a more rapid rate.
This should happen when The Lloyds Group (HBOS and C&G) and Nationwide finally have some real competition in buy to let lending.

BASE RATES LIKELY TO RISE


But right now, the only way for the Bank of England Base rate is steady or up.
So what should investors do?
Well, all investors should be now taking a good look at the sensitivity of their portfolios to interest rate rises.
In other words, they should work out what would happen if the base rate went up from 0.5% to 3% or even 5%?
Even if the base rates does not go up, all investors should know what will happen if and when their mortgage rate comes off any special deal and back onto the lender’s reversionary rate.
Could they survive?
How strained would their portfolio be?
If they are at risk, they should start working on risk strategies right now rather that wait for the rate to rise.
My advice right now, given the real risks the economy faces, is to not go above 65% loan to value across your whole buy to let portfolio - even if you are on trackers linked to base rates – and ideally you should stay under 55%.

BUY TO LET MORTGAGE RATES FOR NEW MORTGAGES

Buy to Let Mortgage financing for new mortgages or remortgages is not getting easier.
Indeed, 2 years after the credit crunch started it is actually getting even harder (even though some residential mortgage rates have now eased a bit.)
For example, for a 75% loan to value mortgage, before Xmas the best rate was from C&G, part of the Lloyds Banking Group.
Natch, like all mortgages these days, it came with a thumping “product fee” but its reversionary rate was 2% over Bank of England Base rate.
The reversionary base of the same mortgage, if you took it out today, is 4.34% over base and it is not guaranteed to track the base rate either.
In effect, with this mortgage over the long term, you will now be paying more than double what you would do pre-Xmas.
It is exactly the same with other lenders which is why people in search of buy to let mortgage financing are finding it very hard right now.

CAN YOU RAISE RENTS TO HELP CASH FLOW?

There is one very good silver lining though.
If mortgage finance remains hard to get AND interest rates rise, first time buyers and other non-landlords will also struggle to get mortgages – which will push even more people into renting.
This will, in turn, increase demand for rented accommodation and push up rents.
So, one possible way out of rising interest rates for lanldords could be to increase rents to offset their rising loan costs.
Whether you can do this or not will depend on the area you have bought into and the strength of tenant demand.

MORE ABOUT LETTINGFOCUS AND WHAT WE DO

LettingFocus.com is the home of landlord information.
I’m David Lawrenson, a landlord and property investor myself for over 25 years, and author of “Successful Property Letting” – which has been the UK’s top selling commercially published property book for the last 3 years.

Services to Businesses and the Public Sector

Primarily I am a consultant to banks, local authorities, social housing providers and other organisations – helping them with their landlord facing or buy to let product strategies and services.
For example, I help banks improve their buy to let mortgage lending practices and I help housing association / local authorities find private landlords (private rented access schemes, local letting agency models etc.)
I also write for property websites and am regularly quoted by the broadcast media.

Services for Private Landlords

For private landlords and other investors in the private rented sector, we now do just two London seminars each year.
We also find some spare time to help landlords and property investors by coaching them in how to make money in the private rented sector using ways that work, which are ethical, fair to tenants and which involve minimal risk to the investor.
We pride ourselves on giving independent unbiased buy to let advice on either a one-to-one mentoring / coaching basis or through our occasional group seminars.
With no links to property firms, developers or bridging loan providers we can advise on where and what type of property to buy for investment and when to buy it.
We also show you how to manage tenants properly.
Coaching can be done over the phone.

AT OUR WEBSITE LETTINGFOCUS.COM:

THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
For general info on our CONSULTING click here: Consultancy and Seminars
ONE TO ONE PRIVATE CONSULTANCY click here: Property Mentoring

NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors:Next Property Investment Seminar and Networking Event
We have OFFERS on a range of services and products for landlords too; click here including landlords insurance, tenant referencing, tenancy agreements and more: Services and Products for Landlords
TO READ CLIENT TESTIMONIALS – both commercial and private click here: Testimonials

BUY “SUCCESSFUL PROPERTY LETTING” click here: Buy the Book at Amazon plus anything else you fancy at Amazon.co.uk
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to [email protected] - Please note we WILL NOT send spam or sell our mailing list to advertisers!

IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR TO OUR WEBSITE?
IF YOU SELL SERVICES TO LANDLORDS, YOU COULD BE A PARTNER ON OUR AFFILIATE PROGRAMME. PLEASE GET IN TOUCH!See our TWITTER PAGE:
http://twitter.com/LettingFocus

Copyright of Blog: David Lawrenson 2009. This blog is updated roughly once a week usually on a Monday or Tuesday.

TO VIEW RELATED POSTS select a “Category” at the bottom of this page.

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Choosing Letting Agents / How the UK’s dopey banks made a mess of buy to let mortgage lending by David Lawrenson

Following on from last weeks’ blog, where I said landlords are not suffering too much, it seems that some landlords are suffering after all – even in the face of record low interest rates.
Latest figures from the Council of Mortgage Lenders now show investors’ arrears rates are significantly higher than for standard residential.
So, what’s the truth?
Well, the truth is there are landlords and there are landlords.
Unfortunately, lots of would-be landlords did not do their research and believed all the hype spun by the many Get Rich Quick gurus and have gone on to make a complete muck up of it – bankrupting themselves in the process.
Many of these will have been to a guru’s seminar and went out and either bought existing housing with No Money Down from distressed sellers using bridging finance with a back to back next day remortgage or they bought new build ghetto flats with gifted or hidden deposits.
Both techniques have finally been stopped as the UK’s rather dozy mortgage lenders finally woke up to the fact that they had in fact just lent on 100% of the property’s value (or at least what the buyer paid.)
(Many borrowers would also use credit cards and loans for non existent kitchens to finance deals.)
With little understanding about how to be a landlord quite a few of these would-be investors got into trouble - and therefore so did the banks and building societies that lent them the mortgage cash.
On the other hand, landlords and property investors who ignored the hype, hopefully the type who read my property investing book – and listened to informed experts of the likes of Richard Bowser, Tom Entwistle and myself at property shows will have done rather well.

BUT WHY WERE BRITAINS MORTGAGE LENDERS CAUGHT OUT ON BUY TO LET?
That’s a very good question.
At a recent seminar I heard from John Corey, an American property expert about how in the USA, the types of techniques that borrowers were pulling here to raise big buy to let mortgage loans in which the borrower had no equity, had long been known to mortgage lenders and had either been stopped by law or through the use of intelligent underwriting techniques.
For example, by requesting up to a years worth of bank statements the American lenders could really assess a borrower’s true financial position. In the USA, it would have been impssible to raise say, £25K on a loan for something else one month and then use it as a deposit on a house the next month.
But in the UK, these kinds of things and many other sneaky tricks went on for years.
I suspct that many mortgage lenders in the UK did not have a clue about back to back re-mortgaging as a technique for someone to acquire a property with “No Money Down.”
OK, by sometime in 2006 and 2007 they had all finally woke from their slumber and have now stopped this kind of thing.
But if you get a buy let mortgage loan today, you will still walk out of the bank with virtually no help, no guidance or anything else to help you be a good landlord.
Unless you have read the right stuff you will have a good chance of becoming another arrears statistic on their buy to let loan book a few years hence.
A few years ago I contacted some senior figures in some of the banks (not easy – even getting their names is hard enough) and suggested that as a leading property author I could help them correct this failing. I’m still waiting for the call back.

MIND IF WE KICK YOU AGAIN SIR?
Don’t tell my partner but I have subscribed for most of the rights issues in the shares I have.
Many of these shares are well down on what I paid for them, so it’s a bit like asking a mugger if he would like to hit you and rob you again.
But the shares are all very heavily discounted and I figure that after the RBS’s famous 200 pence a pop rights issue surely, no one would be allowed to put out a rights issue prospectus which was so clearly full of nonsense.

TIPS FOR USING LETTING AGENTS
Don’t go with the letting agent that charges the lowest fees or one who claims he can get the highest rent. It is important yes, but not the only thing that counts. If the agent says they can get a premium rent. Fine. Ask them to prove what rent they have achieved for properties like yours by showing you comparables.
Ask other landlords which agents they use and trust. Then check if the agent is a member of a recognised trade association such as The Association of Residential Letting Agents which has a code of practice for members and client money protection schemes in place. Others bodies offering similar protection include The Royal Institution of Chartered Surveyors and the National Approved Lettings Scheme.
Landlords should check what protection the agent’s membership of a trade body gives them and if the agent is really still a member.
True, there are some very good and long established agents who are not members of any trade body for good reasons - like the very high cost of membership.
If you are set on using one of these, that’s fine, but make extra sure to check references and find out how long they have been in business.
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
I’m David Lawrenson of LettingFocus.com - the landlord experts. Read Property Articles.
I’m the author of “Successful Property Letting” which for the last 3 years has been the UK’s top selling property book - buy Property Investment Book. The new edition is for both accidental landlords and more experienced residental property investors and is fully up to date with all the recent changes to tenancy deposit schemes, landlord registration and capital gains taxes.
I’m a property expert and property speaker - and I run the well known property blog that you are reading now.
I contribute to newspapers and a host of property websites, write a number of columns in the press and I provide general advice on property letting to anyone looking to buy property for themselves or to let.
What’s unique about lettingfocus.com is that we offer independent unbiased advice on renting out property because unlike most people in the buy to let and property “advice” business we are not linked to a property company, developer, agent or bridging loan financier other than through the links we have on our affilate scheme page. Find out about some great deals we have arranged at our Property Affiliate page.
For landlords' insurance products such as rent guarantee cover and property insurance click on Ukinsurancenet. Don't forget to quote our reference code, LFOC, to get the best rates from them too.
Copyright: David Lawrenson 2009. This blog is updated roughly once a week.
WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?
Over on the right hand side under all the previous blog entries and the bit where it says “Links” and “Subscribe” you will see a button saying “Site Feed.”
Just copy the site feed link into your News Reader or News Aggregator. Even a non techie like me managed to do this.
Please note if you have a website & are thinking of reproducing material here - that’s fine but we DO require a link to the blog to be included, including also the links in this section. The full article including all links must be available to ALL VIEWERS of your site and not restricted.
WANT TO ADD A COMMENT
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Mortgage companies tighten buy to let lending by LettingFocus

There were some interesting bits of news from the weekend financial press.
First off is the fact that Alliance & Leicester is to restrict lending on new build flats to 70% loan to value amid continuing concerns that prices of new build are falling in many areas and there is a big oversupply problem -too many flats and too few tenants causing landlords who have bought into these places to struggle with falling rents and capitals values.
Those who came to see me speak over the last few years will be well aware that I’ve warned of a big problem to come with identikit flats. Well, now it’s here!
Second, Paragon’s shares were under pressure last week. Paragon is one of the biggest buy to let mortgage lenders. Formerly, known as National Home Loans, they struggled in the credit crises of 1989-1990, when they had to be bailed out. Just as in 1989, they still raise nearly all their money from the money markets -so this really is a case of history repeating itself.

Will Buy to Let Become a Rich Man's Game?
Third, mortgage lenders’ continued tightening of lending criteria in the buy to let market has led RICS to say that buy to let will be a rich man’s game from now on.
I don’t think it’s that bad, but if you have not been in buy to let before you are going to have to find at least 20% of the value of a property – and probably 25% from your own funds from now and for a little while.
So, yes it will get harder for the novice.

Gifted Discounts and No Money Down
But if you are a new to buy to let and you don’t have at least 20% to put in, please don’t be tempted to listen to all the guff about “gifted discounts” on new build and bridging loans to buy below market value – if you do, you are only asking for trouble further down the line.
Sorry to say, but if you cannot really afford to get in, don’t play the game.

ABOUT LETTINGFOCUS.COM
We are LettingFocus.com - the property investment experts and I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property book for the last 3 years.
What’s unique about LettingFocus is that I offer independent unbiased
property information and one to one advice covering all aspects of being a landlord and investing in property.
Unlike most people in the buy to let and property “advice” business I am not linked to a property company, developer, agent or bridging loan financier.
I can advise where to buy (which areas), what type of property to buy, when to buy, how to buy property at a low price, how to eliminate the risk of getting a bad tenant and more. I have been a landlord and property investor myself for over 25 years.

LINKS
IF YOU HAVE A SITE WHY NOT LINK TO THE BLOG OR OUR WEBSITE?
Our Events only take place twice a year. For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here:
Next Seminar Event
Find out about GREAT DEALS we have arranged for landlords with our Partners by clicking here: Services and Products for Landlords and seeing our Landlords’ Resources (Useful Links) page.
If you sell products to landlords and property investors and you have national coverage and would like to join our partnership programme, please get in touch!
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
For ONE TO ONE CONSULTING click here: Property Consulting
For TESTIMONIALS from past customers click here: Testimonials
To BUY THE BOOK click here: Buy the Book at Amazon
For THE HOME PAGE OF THIS BLOG click here: Blog
For THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to [email protected] - Please note we WILL NOT send spam or sell our mailing list to advertisers!
Read our article on Getting a Mortgage from a Broker
This blog is updated roughly once a week usually on a Monday or Tuesday.

WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?
It's easy peasy. Over on the right hand side under all the previous blog entries, there is a button which says “Site Feed.” Simply copy the site feed link into your News Reader or News Aggregator.
If you have a website & are thinking of reproducing material here, that’s fine but we DO require a link to the blog to be included, including also all the links in this section. (The full article including all links must be available to ALL VIEWERS of your site and not restricted.)
To view posts on related topics select a “Category” at the bottom of this page.

WANT TO ADD A COMMENT OR VIEW OLD COMMENTS?
To add a comment to this post, simply click on “link to this post” then add your comment. Use "link to this post" to view past comments.
Copyright: David Lawrenson 2007. This blog is updated at least twice a week. Permission must be sought before using the material in the blog.

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Higher Mortgage Loan To Value Ratios Are Coming on Buy to Let and Expect More Rejection for The Riskier Property Deals

One of the results of the credit crunch is that the mortgage lenders are getting more choosy about the type of property they will lend money on.
On Saturday the FT carried a story that said it was thought that Northern Rock had pulled out of some agreed mortgage offers on high rise flats, though NR claimed it hadn’t.
Basically, the banks are now dead scared to lend where they are concerned a property might be hard to sell on should it become repossessed – the risk of that has, of course, increased along with the rise in central bank base and more recent rises in inter bank lending rates.
Indeed, last week Victoria Mortgages, went into administration. They had a lot of what might be called non-standard properties. Other lenders are scared of going the same way.

Wary Lenders
As I said in previous blogs, lenders are also more wary of lending to people with poor credit records and anyone with a chequered income history may also find it harder - that will include the self-employed, people reliant on bonus payments or even landlords who are overly dependent on a rent roll.
Also, I cannot now see mortgage lenders being very keen to lend to novice property investors (those with no experience of being landlords) to buy property with “no money down” on the back of closed bridge loans or to buy new build flats against a developer’s supposed “discount”
Borowers will have to expect more scrutiny of their deals and be prepared to face outright rejection.
Unless, that is, the borrower is prepared to pay a much higher interest rate.
Perhaps we may now actually see the end of the rather daft “Become a property Millionaire in 6 Months” nonsense ads.
Yes folks, this is the era where sensible lending will be back. In fact, I expect lenders on buy to let to revert to a maximum 75% loan to value rate for all but the most experienced portfolio landlords.

ABOUT LETTINGFOCUS
I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property and buy to let book for the last 3 years. I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased advice and seminars for buy to let investors and landlords as well as one to one advice covering all aspects of being a landlord and investing in property.
Unlike many in the still largely unregulated buy to let and property “advice” business I am not linked to a property company, developer, estate agency or bridging loan provider and as such I am able to give unbiased independent advice on where to buy (which areas), what type of property to buy, when to buy and how to buy property at a low price.
I can also explain how to reduce the risk of getting a bad tenant.
I can tell you how to avoid the many scam artists that plague property advice.

Our Events only take place twice a year.
For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here:
Next Property Investing Seminar and Networking Event
We have GREAT OFFERS for landlords too, Click here: Services and Products for Landlords to see our Landlords Resources (Useful Links) page. (Selling services to landlords and property investors and have a national coverage? You could be a partner, please get in touch!)
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
ONE TO ONE CONSULTING click here: Property Consulting
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to [email protected] - Please note we WILL NOT send spam or sell our mailing list to advertisers!

IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR OUR WEBSITE?

WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?

Over on the right hand side under all the previous blog entries you will find a button which says “Site Feed.” Simply copy the site feed link into your News Reader or News Aggregator.

If you have a website & are thinking of reproducing material here, that’s fine but we DO require a link to the blog to be included, including also all the links in this section. (The full article including all links must be available to ALL VIEWERS of your site and not restricted.)

TO VIEW RELATED POSTS select a “Category” at the bottom of this page.
WANT TO ADD A COMMENT OR VIEW OLD COMMENTS?
To add a comment to this post, simply click on “link to this post” to add your comment and to view comments of other people.

Copyright: David Lawrenson 2007. This blog is updated at least twice a week

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Sub Prime Crisis: Shop Around for the Best Mortgage Rate But Be Prepared to Pay More If You Need To Re-Mortgage says Letting Focus

For quite a while now we have known that all was not quite right across the pond in the US mortgage market.
Over zealous brokers and lenders have been recklessly advancing heavily discounted mortgages to people on low incomes and no assets.
These loans are known in the market as “sub-prime”.
Once the loans came to the end of their discounted period, many of the borrowers - who it is fair to say, were not among the most financially astute – couldn’t meet their new higher repayments and the lenders who advanced the loans look very shaky.
And it now appears that much of this lousy debt business has been repackaged and sold on as what’s called securitised debt and bought by lots of other financial institutions – cue big falls in the share prices of the banks on this side of the water and around the globe.
Unfortunately, even mainstream interest rates could be set to go up as the credit squeeze really starts to hit. This is because, as a result of the credit crunch, the banks have increased the cost of lending among themselves to the highest rate for nearly nine years. (You can see this from the 3 month LIBOR rate (The London Inter Bank Offer Rate - which is the rate at which banks lend among themselves.))
This now stands at 6.74%, almost 1% above the Bank of England Base rate.

Mortgage Lenders
Mortgage lenders with no branches and hence access to retail savings will likely be the most affected in the short term and the most likely to hike rates – indeed some alreay have.
Lenders who use funds from their own balance sheets rather than securitise their loans and sell them into the wholesale market will offer the better deals.
The message is - shop around for the best mortgage rate - and if you have ever missed a loan or card repayment before expect to pay more for your mortgage too because lenders will be tightening up their criteria now.

ABOUT US
We are LettingFocus.com and I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property and buy to let book for the last 3 years.
I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased information for buy to let investors and landlords as well as one to one advice covering all aspects of being a landlord and investing in property.
In a market place full of poor advice, unlike many in the still largely unregulated buy to let and property “advice” business I am not linked to a property company, developer, estate agency or bridging loan provider.
As such I am able to give unbiased independent advice on where to buy (which areas), what type of property to buy, when to buy and how to buy property at a low price. I can also explain how to reduce the risk of getting a bad tenant.

OTHER PAGES AT OUR SITE LETTINGFOCUS.COM:
For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here: Landlords Seminar and Networking Event
We have GREAT OFFERS for landlords too, Click here: Services and Products for Landlords to see our Landlords Resources (Useful Links) page. (Selling services to landlords and property investors and have a national coverage? You could be a partner, please get in touch!)
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
ONE TO ONE CONSULTING click here: Property Consulting
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to [email protected] - Please note we WILL NOT send spam or sell our mailing list to advertisers!

IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR OUR WEBSITE?

TO VIEW RELATED POSTS select a “Category” at the bottom of this page.

WANT TO ADD A COMMENT OR VIEW OLD COMMENTS?
To add a comment to this post, simply click on “link to this post” to add your comment and to view comments of other people.
Copyright: David Lawrenson 2007. This blog is updated at once a week
To read archived blogs select a date from the list at the right. To read recent ones, just page down.

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Guide to Using Mortgage Brokers - Part 1 by David Lawrenson of LettingFocus

Whether you get good advice from mortgage brokers is an interesting question and one which is a particular concern for buy to let mortgages which are treated like commercial mortgages in that they are unregulated (unlike standard residential mortgages)
Of course, with thousands of mortgages to choose from, a good broker will help you through the maze. Many people start their search by looking at sites like http://www.moneysupermarket.com/ but these sites will not list all the lender’s detailed criteria which could mean that one lender will reject you, whilst another is prepared to accept you.
This is where a good broker –who will be familiar with the nuances of each lender’s criteria - can really help. A good one will look at the whole market to find the best deals for you and do all the administrative work to get the loan approved.

Fees or No Fees

Some brokers charge nothing to clients while others charge an upfront fee for advice - thus further complicating matters.
But how much time can a broker really save you? And does the fee paid by the lender to the broker (the procuration fee) sway the advice you get from the broker and at what point does a procuration fee become a consideration in the advice process? And how do "repeat fees" paid by lenders to brokers to keep clients with that lender effect the extent to which good advice is given? I'll look at these issues in part 2 soon.

ABOUT US

At LettingFocus.com we are experts on landlord issues.
Hello, I’m David Lawrenson.
I have been a landlord and property investor myself for over 25 years and am author of “Successful Property Letting” – which has been the UK’s top selling property and buy to let book for the last 3 years.
We help landlords and property investors make money in property by coaching them in ways that work, which are ethical and which involve minimal risk to the investor.
We pride ourselves on giving independent unbiased buy to let advice for property buyers and landlords both on a one to one mentoring and coaching basis as well as through occasional group seminars.
Property syndicates and property advice in the UK is still largely unregulated and what counts as “advice” is too often more about making the promoter money than giving useful information to the investor.
But with no link to property firms, developers or bridging loan providers, at LettingFocus, we can advise you on where and what type of property to buy for investment, when to buy and how to buy property at a low price.
We also do consultancy and write for companies such as banks, local authorities, property websites and social housing providers – helping them with their landlord facing or buy to let product strategies.

AT OUR WEBSITE LETTINGFOCUS.COM:

THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
THE HOME PAGE OF THIS BLOG click here: Blog
ONE TO ONE PRIVATE CONSULTANCY click here: Property Mentoring
NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors:
Next Property Investment Seminar and Networking Event
We have OFFERS on a range of services and products for landlords too; including landlords insurance, tenant referencing, tenancy agreements and mortgages. Click here: Services and Products for Landlords
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting

TO READ CLIENT TESTIMONIALS – both commercial and private click here: Testimonials
BUY “SUCCESSFUL PROPERTY LETTING” click here: Buy the Book at Amazon plus anything else you fancy at Amazon.co.uk

To JOIN our Free QUARTERLY NEWSLETTER simply send an email to [email protected] - Please note we WILL NOT send spam or sell our mailing list to advertisers!

IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR OUR WEBSITE?
SELLING STUFF TO LANDLORDS – YOU COULD BE A PARTNER ON OUR AFFILIATE PROGRAMME. PLEASE GET IN TOUCH!

See our Twitter page: http://twitter.com/LettingFocus


Copyright of Blog: David Lawrenson 2009. This blog is updated roughly once a week usually on a Monday or Tuesday.

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Buy To Let Loans Continue to Become More Relaxed

Since buy to let loans were launched, the premium paid over a standard residential loan has got ever smaller.
It now stands at about 0.2% and I have senn lifetime base rate trackers at 0.7% over BOE base rate
At the same time restrictions on how much the rental cover should cove interest has fallen and so have the maximum loan to value ratios.
Buy to let loans are also being made more widely available to co-sharers on a mortgage.
So, look around and shop about and take full advantage.
It's my opinion that there is some pretty reckless lending going on and I have a feeling that these great rates won't last.
I would get in while you can.

MORE ABOUT LETTINGFOCUS AND WHAT WE DO

LettingFocus.com is the home of landlord information.

I’m David Lawrenson, a landlord and property investor myself for over 22 years and author of “Successful Property Letting” – the UK’s top selling commercially published property book for the last 3 years.

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Primarily I am a consultant to banks, local authorities, social housing providers and other organisations – helping them with their landlord facing or buy to let product strategies and services.

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David Lawrenson Feb 2007. This blog is updated roughly once a week usually on a Monday or Tuesday.

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