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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.

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Bad Time to Buy Property as an Investment? By Lawrenson of LettingFocus

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A weird thing happened last year.
An old pal of mine from Merseyside bought a house right next door to the place where we used to live on the Wirral when I was just a small kid. This next door house was identical to our one.
He paid about half a million for it. My father paid £30,000 for ours back in 1971.
Not a bad increase in price over time I guess.

Don’t Compare Oranges with Bananas
But when comparing property prices over time don’t forget that properties need to be maintained which costs money.
And, of course, the quality of what’s in today’s properties is so much better than what one would have put up with in the 1970s.
Bleeding obvious I know - but often forgotten by many commentators.
So when comparing property prices today with what they were some years ago and saying “Gosh, how much things have gone up” we must always remember that we are not exactly comparing like with like because maintaining and improving property costs real money.

Inflationary Hedge
But all the same, those kind of figures really does show how property is a great inflationary hedge.
Money left in the stock market over the period 1971 - 2009 would have done pretty well too.
An investor friend of mine - Rochdale Andy - noted that he rather fancied gold at the moment but then added “Unfortunately I can’t leverage up to 70% buying gold.”
And nor can you borrow money to buy shares either.
Just go to your bank and see if they will loan you money to buy shares without any asset to back it and see how far you get.
And I imagine that, even if it were possible to borrow money to buy gold or shares, it would not normally be tax deductible either in the same way as investing in let property is .
And neither would gold produce a rental income.
These factors, for me mean that the right type of let property will beat shares most of the time.

Is It a Good Time to Buy Now?
It’s better to buy now than it was in 2007 right? House prices are down so it has to be better to buy now. Isn’t it?
Well, I bought 2 places in 2007 and where I have invested prices are down between 5 and 10% on 2 years ago.
Should I not have waited? Should I not have seen what Sir Fred and the other banking eejats were up to and held on through the credit crunch to buy now.
I disagree. At least not for one who needed mortgage financing to complete the purchase.
Why?
Well, back then I could get an 85% loan to value at a buy to let mortgage rate of just .69% above base rate FOR LIFE for a mortgage fee of about £500.
Now, the best loan to value is a measly 75%, the best buy to let mortgage rates are a whopping 4.5% above base for just 3 years followed by 2% above base for the rest of time.
And the fee is a whopping 2.5%, )which would have been £2,500 on that particular property.)
I’ve done the maths and because of the effect of the cost of money, it still looks like 2007 was a better time to buy. That said, I think 2009 will also prove good in the long run too partly because I think inflation will come roaring back within 2-3 years.
But I will look in more detail at why I think today is a good time to buy to let in a forthcoming blog.
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ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
We are LettingFocus.com - the property experts.
I’m, David Lawrenson, the author of “Successful Property Letting” which for the last 3 years has been the UK’s top selling property book.
What’s unique about LettingFocus is that I offer independent unbiased
property seminars covering property investment and letting because 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 tell you where to buy (which areas), what type of property to buy, when to buy, how to buy property at a low price, how to make sure you get tenants who are going to pay the rent and how to manage a rental property to make £s at my one to one consulting service.
I can also comment on “No Money Down” Schemes and “Buying Below Market Value” methods too.
I can answer all your questions on letting property too because I have been a landlord and property investor for over 25 years.
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Buy to Mortgage Rates Deviod of Competition as Lloyds and Nationwide Clean up says Letting Focus

Whilst a little bit of competition is slowly creeping into residential mortgage lending for owner occupation, buy to let mortgage rates and fees are still as high as ever and showing no signs of coming down.
No surprise there because buy to let mortgage lending is now dominated by Lloyds Group (now the lucky owners of the old Halifax Bank of Scotland brands) and Nationwide (via the Mortgage Works brand) and they are keeping rates high.
There is hardly any competition that they face so they can charge pretty well what they like.
It means buying property with a buy to let mortgage is still very expensive, even despite the low BOE base rate.
We are now typically seeing mortgage fees of at least 3% and a margin over base of around 4%. Maximum loan to values are 75%.
Hopefully competition will come soon, but as usual the other mainstream lenders (the likes of Woowlch and the Chelsea BS) are all too terrified to be in buy to let mortgaes just at the time when they perhaps should be lending.
But surely, they could afford to lend up to 75% loan to value without any undue risk.
The centralised lenders – the likes of Paragon - who require wholesale funds to re-lend to Joe Public are not lending new money because the market for wholesale money has died along with the credit crunch and it will be a very long time until it starts again.

HARDER TO MAKE PROPERTY DEALS STACK UP
All this is blowing away deals that were doable 3 years ago out of the water, unless you are a landlord who is really gung ho about capital growth and happy to put up with low or even negative cash flow in the interim.
Of course, if you don’t need a mortgage for cash to buy, you are sitting very pretty right now.
As Lloyds and Nationwide are heavily dominant in buy to let, they are cleaning up (and no doubt making a healthy profit too) that should easily outwieght the minimal risk they can be taking if the borrower is putting up 25% of the equity.
I would say that this could be a good time to buy Lloyds shares but after the disaster of Lloyds’ purchase of HBOS, I’m not saying you should even go there.

STRESS TEST YOUR PROPERTY INVESTMENTS
Linked to all this talk about mortgage rates, you really should occasionally stress test the financing of your buy to let portfolio – even if you only have one or two properties.
Adjust the numbers on a spreadsheet and see how your income from your properties would look if mortgage rates were to go up.
Find out at what point (what rate) you would actually be losing money on your portfolio.

LOCAL HOUSING ALLOWANCE RATES (LHA)
Following on from a recent blog post, I see in the excellent “Letting Update” journal published by The Letting Centre that a landlord in Acton is making hay having bought a property in Acton for £1.2 million and letting for £144,000 a year - all rent paid for by the LHA.
A tidy yield of 12% gross I think.
This is a good example of the daftness of the way the Rent Service sets LHA rates.
Here it is a high rate because it is worked out on the BMRA rate for the whole of Westminster, a considerably more expensive area overall than Acton.
The same thing applies in mnay areas where BMRA are too widely defined.
Well done that landlord for sniffing out a good deal but what a waste of taxpayers’ money. The people in government and in the Valuation Office and Rent Service who set this up should answer some tough questions from said taxpayers.
To find information on local housing allowance rates and areas, go to this website and follow the prompts under "Find your LHA" at https://lha-direct.voa.gov.uk/
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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 accidental and experienced landlords 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 letting 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.
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Copyright: David Lawrenson 2009. This blog is updated roughly once a week.
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Record keeping for landlords in buy to lets – from LettingFocus.com

The cut in base rate today will be a shot in the arm for the housing market. And the news that the biggest mortgage lenders will be passing on the cut in full is better news still.
As you may know, I have all my mortgages linked to the Bank of England’s base rate, not to the lender’s arbitrary SVR rate – the SVR is, of course, only adjusted when the mortgage lenders feel like it or when competitive pressure forces a change on them. Many people have found this to their cost recently!
And in recent years I have tended to opt for lifetime base rate trackers too.
The reason I like lifetime trackers is that I tend to hold my properties for a long time and the hassle of switching to a lower mortgage rate is something I can do without.
Being on a lifetime tracker also ends up costing less in the long run as you won’t have to pay the mortgage companies ever steeper “application fees” every few years.
Shorter term variable rates mean you have to change to a different mortgage deal to avoid the dreaded SVR every time your deal expires -each time costing you money in fees.
What about the housing market?
Well, house prices are going down and bargain properties are there to be had. I know, I’m out there and there are bargains galore to be had.
As you know, I don’t think the downturn will be that hard for well located bread and butter type properties where tenant demand is strong, so it is now time to get out there and negotiate good deals.

RECORD KEEPING
Before I go, just a quick note on landlords record keeping….
As landlords, we can be so busy running about building up our property portfolios and then managing them that it is often all too easy to forget the paperwork or leave it “to another time”
However, keeping up to date with your records is essential.
Here are my tips.
At the start of a tenancy you will have the tenant’s application form and / or references combined with any background checks that you do on them. Keep these until the tenancy has run its course because this is gold dust if you need to trace a tenant.
Get into the habit of keeping a written record of when something happens on each of your properties. This might be as simple as a record of a phone conversation where you agreed to do (or not do something) or it could be a written record of a report of say, a physical inspection or a gas or electrical certificate or an estimate for a repair or a change to the inventory.
Landlords who don’t have a thorough and up to date inventory which lists the state and condition of the property and everything in it –right down to the colour, make and model number of each item – risk losing out when the tenancy comes to an end.
Another good idea when decorating is to keep a note of the paint colour used in each room in case you need to “touch it up” at a later date.
Right now I’m advising a landlord who let a property without doing an inventory and who has now fallen out with his tenant. In the worst case the tenant could take all the furnishings that were in the property when the tenancy agreement was entered into. If that were to happen the landlord would have a very difficult job to recover any losses to his inventory.
Keep records for the taxman too. This would include records of allowable costs incurred, rents charged, dates that the property was let out, bank statements, invoices and receipts.

HMRC INVESTIGATIONS
HMRC could, if they were doing an investigation, ask you about any payments made into your bank account so it is useful to make a note of what these are for as well.
These sorts of records should be kept for six years if you are self employed or running your rental property as a sideline to your main job or seven years if you have a limited company.
Some records should be kept for longer than six years for capital gains tax purposes. Where you sell a property you may be liable to CGT so you will need a record of the dates you bought and sold it and the prices paid until you sell.
Look out for me in the Daily Mail on Friday and Daily Telegraph on Saturday.
I’m David Lawrenson from property investment mentors lettingfocus.com.
I’m the author of “Successful Property Letting - How to Make Money in Buy to Let” the UK’s top selling property title. buy the book
It is fully up to date with all the recent changes to tenancy deposit schemes, HMOs, licensing, capital gains taxes and it has new sections on buying below market value. I’m an expert on the UK property market and a well known property investment blogger and I contribute to newspapers and a host of property websites, write a property investment blog, a number of columns in the press and run a landlords advice service.
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services.You can read more of my blog & find details of my networking, advice, buy to let networking programme at my website.What’s unique about lettingfocus.com is that we offer independent property mentoring because unlike most people in the buy to let and property “advice” business we are not linked to a property company, a developer, an agent or bridging loan financier and do not receive commissions from any of these sources.If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
Copyright: David Lawrenson 2008. This blog is updated once a week. Permission must be sought before using the material in the blog.

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The credit crunch means it is time to make offers in the UK property market says Lawrenson of Letting Focus

Ah, the credit crunch continues to spook the market!
The number of house buyers on estate agents’ books dropped from an average of 276 registered per agent in January to 243 in February 2008, the lowest recorded since the survey started. And the difference between asking and sales price has risen again this month – to 4.5%.
Today, if you want to buy a property either for yourself or to let out and you have not got a decent deposit to put down or you have a bad credit record things will be looking a bit bleak for you.
In fact, things have become quite a bit tighter for everyone.
Just 2 weeks ago Lloyds TSB, their C&G subsidiary and the Royal Bank of Scotland (RBS) reduced their maximum loan to value back down to 90%.
And Alliance & Leicester and the Britannia have pulled their 95% loan to value mortgages. These moves follow hard on the heels of the Halifax who have just raised their interest rates again.
Lenders are “pulling” mortgage offers suddenly and without warning proving how hard it is for them to get funds.
So, it seems the days of cheap money have disappeared for a while and we can see the back of six times income multiples at least for a year or two.
Does it matter –well, yes.
The problem is made worse because about 150,000 people in 2007 borrowed over 90% of their property’s value. So, this clampdown on loan to value really does have the potential to reduce demand for houses and could hit prices harder than we have seen so far.
Naturally, the best deals in the standard residential market are available to those borrowers who have to borrow the least. Nationwide has said its best mortgage rates would now only be available for borrowers who put in at least 25% of a property’s value!
So far, we have only seen a gentle tailing off in house prices. The Nationwide said that February marked the fourth month in a row of house price falls with annual growth down to just under 3% annually.
Mortgage approvals are also low - at 75,000 for January - which is the second lowest figure for 12 years.
Also, a lot of people - most estimates put it at 1.2 million - are coming off fixed and discounted deals taken out two to three years ago and are facing big increases in their mortgage rates this year.
Sounds bad?
Well, yes it does, but so far, whilst repossessions are going up, they are still only at about one third of their 1991 peak and less than they were at any time in the 1990s.
But it is possible that things will get worse and property values could fall more sharply. We will see!
It has also got tougher for buy to let borrowers. Moneyfacts.co.uk recently calculated that UK landlords need to find about £5,500 more of their own money to buy the average buy to let property than they would have had to one year ago.

BUY TO LET LOANS
Also, buy to let borrowers will now have to find at least 15% of the property value -the days of 10% have long since gone.
Woolwich, never the most gung ho of lenders, has just cut the amount it will lend landlords to 75% LTV.
Most other lenders are also now demanding 125% or 130% rental over interest and many brokers I spoke to think that this will soon be the norm (again)
A survey by Savills said that about a quarter of landlords would be unable to make further purchases because of this tightening in credit criteria.
But despite all this, recent Council of Mortgage lenders showed buy to let lending continuing to grow fast, no doubt chasing the increasing rental returns caused by so many would be homebuyers becoming tenants.
And what do I think?
Well, I viewed some properties during the Easter weekend and have put in one offer.
So, I’m not scared.
I figure that whatever happens over the next few months, we will still have a shortage of the right kind of housing.
The fact is that we simply don’t know what further bad credit crunch news awaits us.
And we may not know fort a long time yet.
So, sod it, I’m jumping back in and making offers.
If you need more advice on investment property or buy to let investments in general please ask me.
I’m David Lawrenson from property investment mentors http://www.lettingfocus.com/
I’m the author of the buy to let book “Successful Property Letting - How to Make Money in Buy to Let” the UK’s top selling property title.
Buy the new edition here: http://www.amazon.co.uk/Successful-Property-Letting-Right-Plus/dp/0716030195/ref=sr_1_1?ie=UTF8&s=books&qid=1203933977&sr=1-1
It is fully up to date with all the recent changes to tenancy deposit schemes, HMOs, licensing, capital gains taxes and it has new sections on buying below market value. I’m an expert on the UK property market and a well known property investment blogger and I contribute to newspapers and a host of property websites, write a property investment blog, a number of columns in the press and run a landlords advice service.
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services.You can read more of my property investment blog and details of my networking, advice, buy to let networking programme at my website http://www.lettingfocus.com/My next London property investors networking meeting is coming soon. Click here for details: Property Investment Advice
What’s unique about lettingfocus.com is that we offer independent property mentoring 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 and do not receive commissions from any of these sources.If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.Copyright: David Lawrenson 2008. This blog is updated once a week. Permission must be sought before using the material in the blog.

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The signs say GO for house buying – just don’t tell the journalists, says Lawrenson of Letting Focus

House prices are down for the fourth month running according to the Nationwide. Their latest figures show a 0.5% drop in the month of February which leaves houses prices up 2.7% on an annualised basis
Just a word of caution, though, February 2006 was a strong month for houses price rises, so maybe that 2.7% growth figure looks a little worse than it is.
But notwithstanding that observation, it is clear that house prices are cooling a bit.
And as further evidence, the Land Registry has reported that the number of houses sold in November was 20% less than in November 2006.
Mortgage availability continues to get tighter too. As I sort of predicted in the last blog, other lenders have followed the Nationwide’s lead and are raising the amount that borrowers need to put in when they buy a property.
So, whilst, loans over 85% are still available they come at a much higher mortgage interest rate.
Of course, commentators who love to hate buy to let say, “Aha, all those landlords will have their come-uppance too from the new mean mortgage lenders”

Landord Default Rate is Low
The only problem (for these commentators) is that according to the Council of Mortgage Lenders buy to let borrowers still has a lower default rate overall than other mortgage loans, so landlord investors have not actually been hit as hard as ordinary residential borrowers by the tightening of lender’s criteria.
However, there has indeed been some tightening in buy to let lending – mainly on rent to interest ratios and on lending to borrowers who have a less than perfect credit history.
So, if you have a track record of investing in property and / or you have a good credit history and access to 20% of a property’s value, these are very exciting times.
Why?
Well, as lenders get meaner with who they will lend to, this is what will happen….
First, less people will be able to get mortgages to buy property
Second, the 1.4 million people have to re-mortgage this year may well end up paying a higher mortgage rate -and they may choose to sell their properties and rent instead.
Third, the tighter conditions and fewer buyers will cause house prices to slide - though this may not happen in earnest until around May. I predict house prices will be about 5% lower in December 2008 than they are now
Fourth, these conditions make it a great time to be in the market and buying property.
Why?
Because in a weak housing market, vendors will listen to offers and you will be able to get property at a good (i.e. low) price.
And because I think this year will be so good to buy property, I will be busy doing just that.
For that reason, and because of the demands of my consulting work, this blog will appear now just once a week.
However, we will endeavor to keep it as informative as ever.
If you need more advice on property investment or buy to let investment in general please ask me.
About Me
I’m David Lawrenson from property investment advisors http://www.lettingfocus.com/
I’m the author of the buy to let book “Successful Property Letting - How to Make Money in Buy to Let” the UK’s top selling property title.
I’m an expert on property investing for profit and a well known property freelance writer and I contribute to newspapers and a host of property websites, write a property investment blog, a number of columns in the press and run a landlords advice service.
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services.
You can read more of my property investment blog and details of my networking, advice, buy to let networking programme at my website http://www.lettingfocus.com/
Come to my next London landlords networking.
Click here for details: Property Investment Advice
What’s unique about lettingfocus.com is that we offer independent property mentoring 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 and do not receive commissions from any of these sources.If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.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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Mortgage Rates & Repossessions are up but not that much says Letting Focus

So the Monetary Policy Committee, (MPC), bowed to pressure and cut the Bank of England Base Rate by another quarter point to 5.25%.
For borrowers on tracker rate mortgages linked to the Bank of England Base Rate this is of course good news.
But given the current credit issues many lenders may decide not to pass on the full interest rate cuts as they struggle with their own profitability levels meaning many borrowers on products linked to lenders own standard variable rates will lose out again.
However, the good news is that there are still many lenders actively looking for remortgage business from people with good credit records and the coming months and falling base rate will give those previously worried about remortgaging and extra fillip to do so, especially as valuation and legal costs are sometimes included in many of the remortgages now available.

Good News
I think the rate cut is good news for Buy-To-Let landlords who are enjoying the current conditions.
With property prices easing off, rates falling and rents going up fast, this is rightly seen by many as a year of opportunity.
Yesterday I did a quick “trip” around the mortgage lenders. I found that once you spread the typical ubiquitous “application fee” over the average three year term, you are now finding that mortgage rates come in about 0.95% above BOE base for the bog standard buy to let loan - which is a wee bit above the .75% above BOE last time I did the maths back in the summer and before the credit crunch really hit.
So, not that bad, all in all!
However, loan to values much over 80% are pretty scarce and if they do come, they come at a higher interest rate.
As usual, apart from the likes of Bradford and Bingley and a few others, most mortgage lenders on the high street are still completely clueless about buy to let other than, “Here is your rate mate.”

Clueless Mortgage Companies
When I asked about tenancy deposit schemes, two of the biggest lenders on the high street said, “We don’t do those, sir.”
Oh how I laughed!
One day, their staff will get some training on this. One day.
So, if you are a high street lender and you don’t understand buy to let, I’m one consultant who would love to help you!
Today, we got the latest mortgage repossession figures. Again - not too bad really!
OK, the 2007 repossession figures are up on last year but still massively down on those seen in the early nineties, when nearly 80,000 were recorded in one year compared with 27,100 last year. The figures today are reportedly, slightly lower than those of 1999 so this is by no means the worst the market has seen. Still, the media gobbled it up with glee as more proof that the housing market is set to implode.
I still am not convinced of that at all.

About LettingFocus
If you need more advice on where to buy investment property ask me. I’m David Lawrenson from independent property investment experts www.lettingfocus.com
I’m the author of the landlords bible “Successful Property Letting - How to Make Money in Buy to Let” the UK’s top selling property title.
I’m an expert on property letting and a well known writer on buy to let and I contribute to newspapers and a host of property websites, write a property investment blog and run a landlord and tenant advice service.
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services.
You can read more of my landlord blog and details of my networking, advice, property investors seminar programme at my website www.lettingfocus.com.
What’s unique about lettingfocus.com is that we offer independent property investment mentoring 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 and do not receive commissions from any of these sources.
If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
Copyright: David Lawrenson 2008. This blog is updated at least twice a week. Permission must be sought before using the material in the blog.

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Property prices and buy to let after the credit crunch by Lettting Focus

What will happen to property prices and what will happen to buy to let and property investment after the credit crunch?
Well, now we know that the Bank of England was now thrown a lifeline to the Northern Rock and has in effect underwritten its deposits.
And much money has been made and lost in the city on trading in the shares of NR as well as Alliance & Leicester, Bradford and Bingley and Paragon - which have all seen huge gyrations in their share prices. (Expect a wee enquiry into these gyrations at some future point! I can’t help but smell a rat here!)
But back to property!

Money Markets and Buy to Let
As you may know, not all lenders raise as much cash from the money markets as Northern Rock did.
Nationwide and Halifax Bank of Scotland only get about a third of cash in this way, though that’s still been enough for lenders like these to raise their standard variable rate by up to 0.2%.
Other banks who have used the credit markets more to raise money are Bradford & Bingley and Alliance & Leicester – and their stock market prices have sea-sawed along with Northern Rock, though not quite as much.

Mortgage Trackers
If you took out a Bank of England base rate mortgage tracker for a long term, then you can sit back and relax. Your rate will not go up unless base rates do.
But if you are on a mortgage linked to the standard variable rate one or one where the fixed term expires soon, then be prepared for a hike in your rate right now.
Back in 1988 I took out a loan with a lender that raised funds on the money markets – and not linked to central bank base rates. There then followed a credit crunch and my rate went up.
I learnt my lesson way back then.
However, lots of landlords have borrowed from lenders who raise their funds in the money markets. I have not seen figures on this, but my guess is that it is a much higher proportion than on standard residential mortgages.

Mortgage Rate Hikes
Therefore, mortgage rate hikes for landlords could be particularly high and may force some to sell property, opening up an opportunity to others to buy property cheaply. (And if the private rented sector declines, rents will surely rise)
But what does this all stuff mean for house prices?
Well, lenders have already tightened up their lending criteria. They will look much more closely at (and may refuse) to lend on “risky” deals like ex council, new build flats with gifted discounts in oversupplied areas or at loan to values much over 75%.
It could also mean the “no money down deals” may only be available to experienced investors with good track records who are known to a lender.

Oversupply of Property
Now, for a long time I have said there is still an oversupply in some areas.
I forecast falls in house prices in areas that are heavily oversupplied with too much of one kind of property.
Sorry folks, but many cities in the North have too many flats for the current state of their local economies and I predict prices will come down by at least 10% in these towns over the next 12 months.
I’m not alone here. Anne Ashworth, writing in the Times today, cites Liverpool as a good case in point.
However, other areas which are not oversupplied will do well and see prices and rents hold up and indeed go up.
But while all this interest rates stuff is important it is actually a bit of a side show because the real factor that is driving up the UK’s house prices is the expanding population and the lack of housing supply.

Northern Ireland
Take Northern Ireland as an example. Why did prices surge 50% in 12 months in Ulster recently? True there was a bit of property speculation, and the peace dividend also played a part. But another story that you won’t hear about in the press (well you may in the Daily Mail) was a large migration to Ulster from mainland UK by workers mainly from the new EU.
Now, if the UK economy becomes less attractive to workers from the new EU relative to other places in Europe, then much of the inward migration could fast turn the other way as workers return home or move to other better economies.
I don’t think this could happen anytime soon, but if it did, that really could put the skids on house prices and rental levels.

ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
We are LettingFocus.com - the landlords’ expert 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 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.

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What’s unique about lettingfocus.com is that we are unbiased and independent, 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 and do not receive commissions from any of these sources.
If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
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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:
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BMV Property Bargains Among the Panic (It Will Help If You Have a Good Credit Rating and Lots of Cash!)

Once the BOE had to step in to help Northern Rock, there was always going to be more than a whiff of panic in the financial system
At least with retail price inflation coming down the BOE could hold the base rate at 5.75%.
But now, the whole world seems spooked because along with expected mortgage rate rises, the stock market has been hit hard – especially the banks and in particular the lenders reliant on the money markets to raise money for mortgage finance. Stand up Paragon and B&B - who also all have a a fair bit of buy to let lending
What a change from earlier in the year!
Only yesterday, lenders had been busy relaxing their lending criteria with borrowers for non buy to let mortgages getting higher multiples of earnings, higher loan to value ratios and landlord borrrowers getting softer rent to interest calculations.

Lax Lending regime Over
Now, it looks like this laxer lending regime has ended – at least as long as the credit crunch lasts
The crunch has also come at a really awful time, because back in late 2005, according to the Council for Mortgage Lenders (CML), over a half milion people took out fixed-rate mortgages, mostly for two years, at an average interest rate of just over 4.5 per cent.
Since then the Bank of England has raised base rates five times. If you add the effect of rises in rates due to the currrent crunch onto all that and you can see how people may really suffer over the next month or two.
Are there any silver linings for property investors and home buyers?
Yes. This will all mean that there could be a lot of “distressed property sellers” out there over the Autumn.
So perhaps this is an opportunity for people to buy property cheaply and more people will decide to return to renting or put off buying a house – thus pushing up rents.
The only trouble is, mortgage finance will be hard to come by, so those with a cash pile to invest and snap up property will do well, while those with none and / or with blemished credit records will be ruing their highly leveraged or bad credit position.

LETTINGFOCUS.COM
We are LettingFocus.com - the property lettings expert 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.
As a landlord and property investor myself for over 25 years we can offer independent unbiased
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.
Property “advice” is unregulated but as I am not linked to a property company, developer, estate agency or bridging loan provider I am one of the few who can offer 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.

CHECK OUT THESE PAGES AT OUR SITE LETTINGFOCUS.COM:
Our Events only take place twice a year.
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For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
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Standard Variable Rate Mortgage Payers in For a Nasty Surprise

In my book “Successful Property Letting” I say..... “I also like tracker mortgages. With these, there is a guarantee that the mortgage rate will never be more than a set amount above the central bank (Bank of England) base rate.
If the rate is not linked to the central bank rate, the company will be free to set any rate and call that “the standard variable rate (SVR)” This might be uncompetitive, and if you’re tied in, you may be stuck on a very uncompetitive rate indeed.”
Well folks, as the credit crunch gets worse, the poor fools who did not heed that advice and took out mortgages linked to the lender’s SVR are now seeing their mortgages go up straight away. Abbey have raised their rates today.
The message is clear - always link to bank of England base rate not some woolly SVR.

ABOUT LETTINGFOCUS.COM
We are LettingFocus.com - the independent property experts 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.
At LettingFocus we offer independent unbiased seminars for buy to let investors and landlords as well as one to one consulting 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.
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.

CHECK OUT THESE PAGES AT OUR SITE LETTINGFOCUS.COM:
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
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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?

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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
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Mortgage companies now charging interest in advance says Letting Focus

Is there no end to the mortgage lenders desperate attempts to squeeze money out of borrowers to make up for ever lower headline mortgage rates?
In previous blogs you will know how I have commented on how so called “arrangement fees” have gone ever higher.
They are now so ridiculous that the lenders have now dropped the term “arrangement” when referring to these fees - possibly for fear of being done by the trade descriptions people.
I have also shown in past blogs how you can save money on mortgage lenders’ rip off valuation fee by going straight to a surveyor for a valuation or survey and also, how, by making a simple call to your lender you should be able to reclaim previously unfairly high arrangement fees.
But still the lenders come up with ever more smart ways of making money.
I have just realised that my lender now deducts interest in advance, rather than in arrears. They put this sneaky change in around June 2005.
How much extra did that clever idea make for them I wonder? Quite a lot, I suggest.

ABOUT DAVID LAWRENSON and LETTINGFOCUS

LettingFocus.com are the experts on landlord issues and I’m David Lawrenson, the 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, that are ethical and which involve minimal risk.
I have been a landlord and property investor myself for over 25 years.

At LettingFocus we offer 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 “advice” is more often more about making the promoter money than giving useful information
With no link to property firms, developers or bridging loan providers, at LettingFocus, we aim to give unbiased independent advice 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 show you how to manage tenants properly and in ways that take up as little of your time as possible.

CHECK OUT THESE PAGES AT OUR SITE LETTINGFOCUS.COM:


THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors:
Next Property Investing Seminar and Networking Event
We have GREAT OFFERS on a range of products for landlords too; click here including landlords insurance, tenant referencing, tenancy agreements and more: Services and Products for Landlords
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
ONE TO ONE PRIVATE CONSULTING click here: Property Mentoring
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon

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?

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Mortgage Lenders Just as Irritating As Ever says LettingFocus

I'm in the process of applying for a new buy to let loan - and I see that lenders have not really upped their game all that much from when I first wrote "Successful Property Letting"
Incredibly, whilst this one seemed to allow you to arrange your own survey - and thus make a big saving on what you would pay by going through them - they now charge a fee for "re-typing" it.
So, the benefits of the world of E Commerce and trading and have not yet fully filtered through. Either that or they are just using it as an opportunity to charge one of their beloved fees. Oh dear!
And whilst I have been a customer of this particualr lender for 8 years with 3 buy to lets with them - all on low loan to values- that still cuts no ice in terms of getting a better mortgage deal.
I would have to have 4 apparently to get access to the better deals.

Mortgage Arrangement Fees

And boy, do they love their "arrangement" fees, these days.
So, I can see why mortgage brokers do so well - because today many have good rates - as good as the lenders - and they have much more helpful staff plus they actually answer their phones in a reasonable time.
And no, I've not used the fact that I write about buy to let property to pull any strings with them here.

MORE ABOUT LETTINGFOCUS AND WHAT WE DO

LettingFocus.com is the home of landlord information.
Hello, I’m David Lawrenson.
I’ve been a landlord and property investor myself for over 25 years and am author of “Successful Property Letting” – the UK’s top selling commercially published property book for the last 3 years.
Primarily, I work as 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.
I also write for property websites and am regularly quoted by the media.
I have written articles, guides and documents on letting property and property investing for numerous publications including The Independent, The Telegraph and for quality landlord and property websites.

Services for Private Landlords

Despite my corporate work, I still like to talk to private landlords though and for them we still find time to do 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.

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

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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.

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 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.

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 Feb 2007. 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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