Monthly Archives: October 2018

Goodlord – Lettings for the 21st Century

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Goodlord - Lettings for the 21st Century

Please scroll down to see our conversation with Tom Glason, chief commercial officer at Goodlord – one of the PropTech heavyweights operating in the residential lettings industry… During our chat we covered the following themes: A broad overview of what Goodlord does plus what would incentivise lettings agencies and larger landlords to use the service; Why the organisation decided not to roll out this technology to smaller / portfolio landlords; How Goodlord works with both individual and franchise-based lettings agencies; The ‘build vs. buy’ argument – i.e. why would a larger lettings agency choose to implement Goodlord’s service, as opposed to creating an internal bespoke system themselves; How the technology is being implemented across the fast-growing build to rent space; Recognising the wide and varied nature of Generation Rent; Engaging with tech without over ‘dehumanising’ the process, credit checking and risks of deploying a... [Read More]

Selling A Buy-to-Let Property

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Whether it’s due to Section 24 of the Finance (No. 2) Act 2015, Prudential Regulation Authority (PRA) borrowing restrictions or the spate of other regulatory measures, buy-to-let’s attractiveness as an asset class has certainly waned in recent years. The New Buy-to-Let Paradigm Nonetheless, although some 4,000 rental properties are being sold every month, talk of a ‘mass exodus’ of landlords is arguably exaggerated. Section 24, in reality, will affect about a third of those operating in the sector.  Those that can comfortably remain in the lower tax threshold should not face too much extra liability.  Similarly, those that are lowly-geared or own their assets in Limited company structures should be able to weather the storm (assuming there are no other changes on the horizon). Since the 2015 announcement, landlords have also been exploring whether it’s possible to legally mitigate the... [Read More]

Property Refurbishment 101

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Property Refurbishment 101

Given the unpredictable nature of carrying out property refurbishment works, the entire process can often be a minefield.  This is even the case with ‘vanilla’ and simple redecoration/cosmetic update projects. Most landlords, property traders and homeowners simply want to know that they can get projects done to a decent standard without being ripped off. Fortunately, although banishing rogue traders is perhaps too much to ask, the process is slowly but surely becoming more transparent – even if you’re handling the process remotely. This extended post starts with some general tips for refurbishing a property from beginning to end.  We then outline a handful of useful tools you can use to find decent tradesmen anywhere in the UK.  Finally, we run through the main bodies and organisations with whom you can crosscheck credentials (covering general refurbishment, electrical, plumbing, gas safety, windows,... [Read More]

Birmingham Midshires on Current Buy-to-Let Lending

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Birmingham Midshires on Buy-to-Let Lending

As a lender that’s held a firm position in the buy-to-let sector across various market cycles, we really appreciated the head of sales at Birmingham Midshires (BMS), Phil Rickards taking the time out to answer a series of topical questions. Phil elucidated on the impacts of the Prudential Regulation Authority (PRA) lending restrictions, how highly-geared landlords can address their borrowing issues and handle other risks in what is constantly evolving environment. He also gave some thoughts ongoing challenges faced by the buy-to-let market, some pointers on a making a successful mortgage application, how Section 24 has impacted BMS’s own underwriting processes as well as opinions on the Greater London and South East rental markets. And, of course, no contemporary interview is complete without asking a question about Brexit (although we left this till the end in our defence!) It would be interesting... [Read More]

Property Investor’s Factfile – October 2018 Commentary

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October 2018 Property Investor´s Factfile The Property Investor’s Factfile presents a range of relevant data for buy-to-let investors, traders and developers. Below are some noteworthy observations over the last month: Property Market Trends Bearing in mind the 2-month time lag, the latest Gov.UK House Price Index reported annual price rises of 3.1% – making average property values stand at £231,422.  North-west England saw the greatest monthly price rise (by 3.4%); the East Midlands saw a 0.2% drop in prices and house prices in London decreased by 0.7% in the year up to July 2018; The Royal Insitute of Chartered Surveyors (RICS) reported ‘robust’ price growth across Scotland and Northern Ireland; new instructions ‘edging further into negative territory’ and ‘sales expectations suggest activity is likely to remain stronger away from the south of England’ (see the links to historical reports here).  Chief... [Read More]