Lenders Give Out Fewer Mortgages to Buy-to-Let Landlords Amid New Rules

A recent report in the Daily Mail shows that mortgages given to buy-to-let landlords have decreased over the past year.

A raft of new tax rules along with more stringent mortgage rules has meant that fewer would-be landlords have been granted mortgages for buy-to-let properties.

In a bid to help more first-time buyers get onto the property ladder, the Government has bought in a variety of regulations aimed at making it more difficult for people to become buy-to-let landlords or to increase their property portfolios. These include the Bank of England introducing stricter lending guidelines, limiting the tax relief landlords can claim on their mortgage and other costs associated with a buy-to-let property, and a 3% stamp duty surcharge.

Only 5,500 mortgages were granted for buy-to-let purposes in March, a reduction of 19% on the same time in 2017 and financial experts are predicting this number will continue to fall over the next few months.

Less Casual Buy-to-Let Landlords Due to Changes                                                         

The buy-to-let property market has changed significantly over the past couple of years, with many casual landlords deciding that the overheads concerned with owning a buy-to-let property have squeezed their profit margins too much for them to continue, leaving them in a position where they need to sell my house fast. On the other hand, those with sizeable property portfolios are continuing to invest in the buy-to-let market.

With many landlords wanting to offload their properties, problems can arise in difficulties in selling. Often the properties are in areas where there are already a high number of rental properties and are less attractive to first-time buyers.

A fast house sale can prove difficult, as many landlords are forced to wait months or even years for a buyer to come along. If they already have tenants in situ, this can compound the matter and make selling even more troublesome.  However, there are solutions for anyone who in a position where they need to sell my house fast.

Companies that buy houses fast  | Sell my house for cash
Companies that buy houses fast | Sell my house for cash

How to Sell My House Fast?

Property buying companies allow landlords wanting to offload their rental property an option for a quick way to sell my house for cash. Often the transaction can be done with weeks, even days in some circumstances, and in most cases the state of the property is not an issue.

Buyingpropertyfast.com Gives landlords a way to sell my house today and be in a position to recoup their investment, regardless of whether they currently have tenants or not.

Often a quick house sale for cash can save a landlord money down the line, particularly if they are struggling to attract tenants, or need to invest more money into costly repairs to their property. The longer they continue to keep the buy-to-let property, the more mortgage they will have to pay, along with increased income tax.  The months, and often years, it can take to sell a property can be extremely stressful and increasing expensive as time goes by making a fast house sale a necessity.


Declining Neighbourhoods Causing Problems for Landlords

Landlords can find themselves unwittingly buying property in undesirable areas and struggling to find tenants in Grimsby. In a recent report featured in Homes and Property, Victoria Whitlock talks about her difficulty in finding families and professionals to rent her recently purchased property.

She explains how, at first, she thought it was due to the flat needing a little bit of attention and smartening up but was later informed in a chance meeting with another local landlord that the area she had bought into had a bad reputation for antisocial behaviour.  Other landlords have experienced similar issues where the area they’d invested in has slowly declined over the years, leaving them struggling to find good tenants and prompting many to seek advice on how to sell my house for cash to help recoup their losses.

Property buying companies | How to sell my house fast
Property buying companies | How to sell my house fast

Declining Neighbourhoods Can Lead to Loss in Revenue

Often in cases such as this, landlords can be forced to lower their expectations of available tenants, often to their detriment. In order to rent out the property and not lose money, they are tempted into renting to people they wouldn’t normally have considered. While many tenants are model citizens who look after the property well and pay their rent on time, there are also many undesirables who end up costing landlords in Grimsby hundreds if not thousands of pounds in repair bills and unpaid rent, leaving them wondering how to sell my house fast.

While the initial low price of the property may be a draw, often the landlord will spend a lot of money updating the property in a bid to attract nice tenants and a decent rental price. In certain parts of the area, however, this may be a false economy and the money spent on refurbishments may never be recouped in either rental income or in resale value if the neighbourhood takes a turn for the worse. Often this can lead landlords in Grimsbyto a position where they need to sell my house fast.

Researching an Area is Vital

Understanding the area in Grimsby you’re tempted to buy in is critical, this way you know who you’re pitching your product at and who you are likely to attract as tenants. This can help you to better plan any needed refurbishments to ensure they are investment worthy.

Speaking to neighbours or local businesses can give you an idea of the type of community you’re investing into. Is this the right opportunity for you, or do you need to look elsewhere? An investment opportunity is only a good one if you can attract a tenant who will pay a fair rental price for the area, and one which delivers a good return on your investment.

Likewise, it pays to keep on top of any changes occurring in the neighbourhood, particularly if it is going to affect rental prices. If a rental property becomes too troublesome to find suitable tenants for, a fast house sale may be a better bet.

Sell My House Fast

For those caught up in such a predicament, a fast house sale may be the best way to recoup your investment and move on. Property investment companies such as buyingpropertyfast.com can help anyone who wants to sell my house today. Allowing landlords to focus on other areas and reinvest their money in a different property which may attract better tenants. Often the sale of the property can be done with tenants in situ and no repairs need to be carried out on the property.




Number of Empty Properties on the Increase

The number of empty properties throughout England is on the rise, fuelling Government concerns that there are not enough houses for first time buyers in areas such as Leeds and Liverpool .

According to a report in the Telegraph, the number of vacant properties has increased for the first time in ten years. It now stands at 205,293 empty properties up and down the country and said to be worth an estimated £50 billion.

Fast House Sales in Leeds and Liverpool

The financial crisis in 2008 saw many home repossession and bankruptcies and a high of 326,954 empty properties. Since then, the number of empty properties around the country had been on the decline. 2017 saw this trend reverse and the number of vacant properties around England leapt by 2.6%.

While the number of long-standing empty properties remain highest in the capital, where many of the homes are second properties or investment properties where the buyer is holding on to them until the value increases. However,areas such as Leeds and Liverpoolare also high on the list with a registered 2709 properties standing empty in 2017 in Leeds and 3889 in Liverpool. In most cases, the reason for the homes being vacant is rarely due to the owners waiting for them rise in value and usually due to either repossession or the inability to sell the property.

Although the number of empty properties only accounts for around 0.9% of the housing stock in England, Government officials are keen to address the situation and bring these homes back into play to help ease the housing crisis.

Sadly, many of the empty homes in Liverpool and Leeds are now of a poor standard and need lots of refurbishing work to bring them back up to a liveable standard. In many cases, the owners of the properties needed to sell my house fast but a slow-moving housing market has not allowed this to happen.


Sell my house for cash | Need a fast house sale
Sell my house for cash | Need a fast house sale

How to Sell My House Fast?

This situation could have been avoided for many.If the owners of the properties had approached a property buying company such as buyingpropertyfast.com, they could have solved their problem quickly and would not be saddled with either an expensive empty property or had the bank repossess their home through defaulting on their mortgage payments.

Buyingpropertyfast.com allows people to sell my house for cash and in many cases, sell my house today. While many home owners feel that using approved property buying companies may lead to them losing money on the value of the home, having the property repossessed or standing empty long-term leads to much more money being lost and potential credit black-listing.

With so many long-term empty houses out there, many local councils are taking measures to bring them back into housing stock by forcing owners to sell at well below market value or increasing the amount of council tax charged on properties left vacant and unfurnished for more than two years. Some politicians have asked that capital gains tax be suspended for the sale of long-term empty investment or second properties to help deal with the situation and prompt more owners to put the properties on the market or reduce the asking price in order to get a quicker sale.


Landlords Offloading 3,800 Buy-to-Let Properties Each Month

The number of buy-to-let properties coming onto the market has risen sharply according to a report from the Ministry of Housing and sees no signs of slowing down.

Many landlords are facing tough times and are struggling to make decent returns on their buy-to-let investments. This has led many to decide to cut their losses and put their properties on the market.

The number of rental homes available has fallen sharply over the past year and a half, with approximately 3,800 buy-to-let properties being sold each month. This has left ministers concerned about the number of available rental properties and rising rents for tenants.

Various tax reforms along with mortgage changes for buy-to-let properties have led many landlords to reconsider their future in the rental sector. The changes see an end to the increasing number of privately-owned rental properties witnessed over the past two decades and have plunged the number of rental properties available for tenants into decline.

Stamp Duty and Tax Relief Changes

The introduction of a 3% stamp duty charge for buy-to-let properties along with changes to how much tax relief a landlord can claim has changed the landscape of private rentals.  Landlords now face higher start up costs along with lower returns than they did before the measures were brought in.

This situation has led to a significant rise in the number of properties up for sale, and with many landlords owning more than one property, they are often keen to sell my house fast and hope to recoup their investment as quickly as possible.

Need to sell my house fast
Need to sell my house fast

Third of One Property Landlords Considering Selling Up

According to a report released by Simple Landlord, around a third of landlords who hold just one rental property were planning to sell that property and come out of the rental sector. This leaves many in a desperate situation where they need to sell my house for cash.

Property buying companies can offer landlords a quick and easy solution by offering to buy property for cash. Anyone who finds themselves in the situation where they need to sell my house fast can use buyingpropertyfast.com to quickly sell their buy-to-let property and close this chapter of their lives.

How to Sell My House Fast?

A fast house sale is dependent on finding a buyer, however, in the open housing market this can often take months, and in some cases, even years. The traditional route of marketing your property with an estate agent and showing around potential buyers can be a long, drawn out experience and often expensive. In many cases they will need to either find a buyer who is willing to take on any sitting tenants they have or wait until their tenants’ lease is up for renewal.

Buyingpropertyfast.com can overcome these hurdles by offering a cash value for your buy-to-let property, regardless of the condition of the house and if you have tenants in situ.  So, if you want to sell my house today, this could be the solution for you.

Many Landlords Considering Selling Their Buy-to-Let Investments

According to a report in the Daily Mail, the new tax implications on buy-to-let properties are having a dramatic effect on landlords.

It’s been reported that up to a third of landlords who possess just one buy-to-let property are thinking about selling their investment. Conversely, many landlords who have larger property portfolios are actually considering investing in more buy-to-lets.With certain areas of the UK ripe for investing into buy-to-let property, places such as Peterlee offer would-be landlords a perfect opportunity to get on to the buy-to-let ladder and buy a relatively cheap property that offers attractive rental yields.

Government Changes Have Hit Landlords Hard

However, the Government has bought in a series of changes over the past couple of years which affect the way landlords are taxed on buy-to-rent property. Changes have included a 3% surcharge on stamp duty, buy-to-let mortgages based on higher rental yields, and tax relief abolished so landlords now have to pay tax on all rental income not just the profit once the mortgage repayments and other costs are taken into account.

This has led to many people who were thinking of jumping on the buy-to-let bandwagon becoming cautious and many who only own one buy-to-let property are looking to offload their investment.

Sell My House Fast | Sell My House For cash | Need to sell my house fast
Sell My House Fast | Sell My House For cash | Need to sell my house fast

Strangely, those who have bigger buy-to-let portfolios are less concerned by the recent tax and mortgage changes. So much so that a reported 38% are actively looking to build on their investments and purchase more buy-to-let properties in the near future.With many parts of the country, such as Peterlee, still suffering from a depressed housing market. Anyone who might need a fast house sale may be affected by these moves.

Sell My House Today

Traditionally, anyone who wanted to sell my house fast needed to go down the estate agent route and hope that they could quickly attract a buyer. With a slow-moving property market, many home owners have found that it can take months and sometimes even years to sell their house, a situation which often causes undue stress and worry and can prove expensive.

Using an approved property buying company can help anyone who may need to sell my house fast for cash. Buyingpropertyfast.com offers home owners a feasible way of selling their property quickly and walking away with cash in their hand.

How to Sell My House Fast

Buyingpropertyfast.com can help home owners avoid waiting months to secure a sale for their property. This can often work out saving them hundreds (or thousands) of pounds in the long run, particularly if they would need to make expensive repairs to bring the house up to a marketable standard.

With so many people now in a position where they are unable to get onto the housing ladder and are forced to rent, properties can be on the market for considerable lengths of time before the right buyer comes along.

With no worrying about bringing the property up to date or the responsibility of showing around potential buyers, sell my house for cash is a quick and easy option for those who know their property is unlikely to sell quickly on the open market.

New Medway Council Legislation Could Hit Buy-to-Let Landlords

Current Government policy dictates that owners of houses in multiple occupation (HMO) require a special licence if the building is three storeys or higher and has more than five people living in the building. This is due to be extended in October to include all property housing more than five people from two or more households, regardless of how many storeys high the building is.

According to a report in the Medway Property News, several Medway councils are considering planning further licensing schemes making it more difficult for landlords to procure licences for their rental properties and could also affect those who need to sell my house for cash.

Selective Licensing Schemes Could Cause Problems for Buy-to-Let Landlords

Some areas in the Medway are proposing to implement licensing schemes for all HMO rental properties, regardless of how many tenants are in situ. Others are looking at selective licensing where they can target certain areas that may have problems with anti-social behaviour linked to rental properties.

For landlords with large portfolios covering different areas in Medway, this could cause some confusion as each council may have different rules regarding licensing. It’s up to the landlord to check the policy regarding each property they own and ensure they have the relevant licence for each property.

Not Complying with New Licensing Regulations Could Lead to Large Fines

This may lead to a huge impact on the buy-to-let sector and turn many would-be landlords away from purchasing property in the area for private rentals. Landlords who already own HMOs which now require further licensing may be tempted to offload eligible properties and look to buy property in other areas, where less licensing is needed. Failing to get the correct licences could lead to large fines.

Need to sell my house fast

Sell My House Fast | Sell My House For cash | Need to sell my house fast

More Restrictions on Rental Properties May Have an Effect on the Medway Housing Market

There is the potential for many private rental properties to suddenly come onto the market in Medway, which could cause significant problems for those who need to sell my house fast. If large numbers of landlords choose to downsize their portfolios to eliminate HMOs from their stock, it could lead to many people who need to sell my house for cash.

With larger numbers of property with multiple sitting tenants, the housing market may be affected in the Medway and this could have an adverse effect on both prices and the average time it takes to sell a property of this nature. For those looking to sell my house today, there is a viable alternative solution.

How to Sell My House Fast

Approved property buyers can assist those who need a fast house sale. They are often in a position to give an immediate quote on the property and offer to buy property for cash.

With competitive valuations and instant access to the equity in your home, anyone who needs a fast house sale should make a point of contacting buyingpropertyfast.com to find out how they can help them quickly move forwards with their house sale and get the best return for their property.

Council Plans to Build 400 New Homes in Stoke-on-Trent

Fortior Homes, which is owned by Stoke City council, has declared that it has plans for building a property portfolio worth £68million. The company hopes to have built 400 new homes in the area over the next ten years according to a report in The Sentinel.

The council has budgeted for a £55million investment in its self-owned Fortior Homes over the next two years and hopes that taxpayers in the area will reap the benefits of the investment.

Construction work is due to begin over the next two years on various projects including two sites in Hanley, one of which is a project involving 277 apartments in Smithfield and another, 120 houses at Bridgewater.

Council Hopes to Reinvest Revenue Raised on Local Services

Stoke City Council hopes the investment will yield an average of around 5.9% return on investment each year, which has been revised from its previous figure of 5.4%. It’s estimated that through dividends, interest and additional council tax, the project could yield a £10.3 million return over the next ten years.

Residents in Stoke hope that this revenue is used by the city council to improve local services, whereas private home building companies’ priority would be to pay their shareholders.

Sell My House Fast | Sell My House For cash | Need to sell my house fast
Sell My House Fast | Sell My House For cash | Need to sell my house fast

Could an Influx of New Properties Affect Local House Prices?

How might this affect house prices in Stoke-on-Trent? This may make selling property in the area a little more difficult and in turn have an adverse effect on house prices. Anyone who wants to sell my house fast, could find that it takes much longer to sell their home through conventional methods, particularly if the new properties lead to a slow-down of other house and apartment sales.

With new properties on the markets, many property owners may be prompted to find alternative solutions if they need to sell my house fast. If you’re in this situation in Stoke and are wondering how can I sell my house today, there is an answer.

Sell my house for cash

With these new property developments about to take shape, many would-be buyers might be thinking of waiting and buying a brand-new property, rather than an existing property. This could make life difficult for anyone who needs a fast house sale. However, property buying companies may be the answer and can help home owners in Stoke-on-Trent to navigate a quick, cash sale without having to wait for the right buyer to come along.

Buyingpropertyfast.com can help people in Stoke to quickly sell their property for cash. This negates the need for the services of an estate agent or trying to sell their homes online which could take months, or even years. If you’re wondering how to sell my house fast, your first point of call should be to Buyingpropertyfast.com who can give you a quick valuation and offer you a fair price for your home, regardless of whether it needs any repair work or if it is in a location where properties are slow moving.

Medway Council Announce Plans to Combat Housing Crisis

According to an article in the Medway Property News, Medway Council are putting into place plans to address the chronic housing deficit in the area and how to meet the predicted rise in population.

It has been suggested that Central Government have told Medway Council that it needs 37,000 new properties to keep up with demand. However, other news sources have said that Medway Council has plans to construct from 730 to 1,410 homes a year by 2035, which would make a maximum of 23,970 – falling short of the Government recommendations. More confusion has arisen when another draft suggested 30,000 new homes would be built by Medway Council by 2035, coming closer to the Government target.

Medway Population Set to Rise By at Least 17% by 2035

It has been estimated that Medway’s, which includes, Chatham, Rochester, Strood, Gillingham and Rainham population is set to grow by at least 17% over the next 23 years and is predicted to be home to around 330,200 people in 2035. This is an increase of 18.5% since June 2016 where the region’s population stood at 278,542.

The additional population has put a great strain on housing in the area and investment into building new homes for residents will be greatly received, although residents are keen for Medway Council to also invest in other vital services which will be required from a larger population such as more classrooms, doctors’ surgeries, road links and other essential amenities.

Property investors are looking at Medway as a possible place to build their property portfolios. The predicted increase in population means that they are guaranteed a large number of tenants to choose from and as new housing take time to be put into place, a high demand for rental property could lead to increased rents.

 How to sell my house fast
Sell My House For cash | Need to sell my house fast | How to sell my house fast

How Will This Affect House Prices in Medway?

It is uncertain as to how this news will affect house prices in Medway and what affect it will have on the housing market overall. If you’re struggling to sell my house fast, an influx of new properties in the area could lead to a slower overall time taken to sell a property.

For many home owners, waiting months or even years to sell their property is not an option, they simply need to sell my house today. Approved property buyers can assist in these situations, particularly for those who need to sell my house for cash.

How to Sell My House Fast?

Buyingpropertyfast.com can help home owners in Medway quickly sell their home with the minimum of fuss. We can offer a quick and fair valuation which can help you sell your house for cash and begin a new chapter in your life.

This option allows home owners who need a fast house sale to forego the traditional route of trying to sell their house or apartment through an estate agent, or even have to try to market the property themselves via online websites.

If you’re in a situation where you need a fast house sale, a quick call to us could help you on your way and save you months of stress and worry.

House Prices Slumping in Many London Areas

According to a recent report in the Guardian, house prices in London are falling in various areas. Figures released by Zoopla show that while other areas such as Manchester and Liverpool are showing increases in house prices, many post codes across the capital are seeing a decline.

Since the economic crisis in 2008, most properties in London and the South East has risen in value, in sharp contrast to areas such as Hartlepool where the prices have struggled to return to pre-crisis value and has hindered home owners who need a fast house sale.

Knock-On Effect for Suburban Areas

It’s estimated that around 40% of postcodes in London are experiencing slumps in house prices, including prominent areas such as Islington, Wandsworth and Camden. This is starting to have an affect on some of the more suburban areas surrounding the capital like Kingston-Upon-Thames and Harrow, prompting concern among estate agents and home owners who want to sell my house fast.

House Prices in Hartlepool and Peterlee Still on the Decline

The average house price across the UK grew by 4.9% and costs an average of £226,000 in January, according to figures from the Office for National Statistics (ONS). House prices in London typically grew by £5,000 in the same month and were worth an average of £486,000. However, the north east area, including Hartlepool continued to see house prices fall, with a massive £7,000 wiped off the value in January, and the average home in the area being valued at £123,000.

While many property experts feel that the gap between the north and south of the country in terms of property value is narrowing, the continued fall in prices in the North East shows that the gap is ever-widening making it difficult for the housing market to gather any momentum.

Conversely, house prices in London have rocketed since the financial crisis, with some properties increasing in value by as much as 86%. This has forced many people into looking outside of the capital for property or having to remain in rented property if they wish to continue living in London.

Sell My House Fast | Sell My House For cash
Sell My House Fast | Sell My House For cash

Sell My House Today

For those living in Hartlepool and the surrounding areas, houses are continuing to be slow moving. Anyone thinking “I need to sell my house fast” may be concerned that their property could take months or even years to move.

Thankfully, there are ways to quickly sell my house for cash, giving home owners a rapid solution and saving them from months of stress and potential financial problems.

Home owners wondering how to sell my house fast, can use the services of reputable property buying companies who can offer cash for property regardless of the condition of the property or the current housing market.

Buyingpropertyfast.com gives people who need to sell my house fast peace of mind and allows them to quickly move on with their lives. Taking away the expense and stress of trying to sell their house through an estate agent and any costly repairs needed to bring their house up to a saleable standard.

Landlord Repossessions Set to Rise Rapidly

According to a recent report in the Independent, tenants failing to keep up with rental payments is causing a record number of evictions and repossessions by landlords. This is leading to many landlords being in a situation where they need a fast house sale in order to rectify their mortgage arrears and clear their debts.

Data released by the Ministry of Justice shows that while repossessions of owner occupied homes by building societies, banks and other money lenders has stabilised at a low level for the past few years, repossessions of rental properties have risen sharply.

Some financial experts are predicting that landlord repossessions may rise by 10% over the next few months as more tenants default on rent and more landlords become in mortgage arrears.

Rent Arrears Leading to Record Number of Repossessions

During the final quarter of 2017, there were more than 15,500 legal repossessions made by landlords to evict their tenants. Although London is a rising hotspot for areas where tenants are being evicted for rent arrears, other areas in the north and north east of the country such as Grimsby, Hull, Doncaster and Peterlee have also been particularly hard hit.

Interestingly, it isn’t just lower rental value properties that have been repossessed. London and the South East has seen a dramatic rise in the number of repossessions of high value rental homes, some worth millions of pounds.

 Sell My House Fast | Sell My House Today | Sell My House For cash
Sell My House Today | Sell My House For cash

Interest-Only Mortgages Outstrip Current House Values

In addition to tenants not paying their rents, repossession of rental properties from money lenders has increased as more landlords have been unable to repay their debts as lower house prices have meant they are unable to raise enough from the sale of the property to fully clear the outstanding mortgage.

Many landlords who took out Buy-to-Let mortgages on interest-only repayments in the 1990s are now finding their mortgage expired but their investment has considerably dropped in value and is no longer worth more than the original mortgage. While this is a problem in London, it is also a particular issue in Grimsby and Peterlee where house prices have still not recovered from the 2008 financial crisis.

Need a Fast House Sale?

This could be a reason for many landlords in areas such as Grimsby or Peterlee needing to sell their property fast. In order to appease their mortgage lenders, who need a fast house sale is often needed to offset the debt and stop them sliding further into financial trouble.

In many cases of landlord repossessions, the time taken between the landlord making the claim and the property being repossessed is now an average of 41 weeks according to figures from the Ministry of Justice.

Approved property buyers and companies that buy houses fast are offering people in these situations a rapid solution. Rather than have to sell their house via the route of an estate agent. Property buying companies can facilitate a fast house sale and buy property for cash.

BuyingPropertyFast.com is a reputable property buying company which specialises in buying houses for cash in Peterlee and Grimsby.