Property Investment Club Launch

Introducing our Property Investment Club

Walton & Allen has launched a property investment club in Nottingham. Whether you’re an experienced buy to let landlord or a first time investor it is well worth joining – And it’s free!

By becoming a member of the Property Investment Club you will gain access to:

  • Exclusive property deals
  • Enhanced potential gross yields
  • Property purchase discounts
  • Free advice on the best places to invest
  • A property finding service based on your requirements
  • Mortgage advice

Launch Open Day

We are holding an open day in February 2018 for those who are looking to start or increase their property investment portfolio.

During your appointment you will be able to discuss your requirements, receive advice and pick up your membership welcome pack.

We will also be offering discounted management fees on new instructions to those attending on the day.

Register your interest

The launch open day is likely to take place on 23rd February 2018. To register your interest, please fill out the form below. We will be in touch with a date and appointment time to suit you. We’ll be conducting branch appointments and phone/Skype chats.

We need your permission to be able to send you relevant investment property emails. Would you like to receive these updates?
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Visit our dedicated Property Investment Club website to find out more.

Property Investment Advice

Property Investment Advice

Have you registered your interest in our Property Investment Club?

Investing in the right property can be tough. Are you getting the most for your money and will you see a large return on investment?

How Property Investment Club Works

When you register with the Walton & Allen Property Investment Club you will gain:

  • Notifications on the best property deals coming to market, before anyone else gets a chance to hear about them
  • Property investment mortgage advice
  • Advice from our Investments Manager on the best places to invest in and potential gross yields
  • Exclusive property deals which won’t be available anywhere else
  • A personal property finding service based on your requirements

Registering with our Property Investment Club

To register your interest, simply fill out the form below. You can also read more on our dedicated property investment page.

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Current Investment Properties for Buy To Let

We currently have some great deals available online for buy-to-let landlords. These include

Asha House
Number 47
Havana House

First Time Landlords

Are you a first time landlord looking to invest in your first property? We offer plenty of free property investment advice to help you purchase your first buy to let. We can also help you find a tenant and manage your rental income. Get in touch to find out more.

Selective Licensing Update

The case for Selective Licensing in Nottingham is flawed, according to ‘Nottingham Against Selective Licensing’ (NASL).

A group of local Landlords has produced a report “urging the Government to reject Nottingham City Council’s scheme for Selective Licensing because it has failed comprehensively to satisfy the tests set for its introduction.” The 11 page report is made up of the following headings and can be downloaded below;

1. Introduction
2. NCC has failed to demonstrate that SL is an effective tool for driving up standards in the PRS
3. NCC has failed to fully explore effective alternatives to SL
4. No proven link between the PRS and high levels of deprivation
5. The lack of causality between ASB and the PRS
6. A biased consultation and selective feedback
7. Conclusion

Please contact us using the below form if you wish to read the document.

We shall be posting a further blog on this subject in the next 48 hours offering interested Landlords the chance to download a further report by NASL titled ’A critique of Nottingham City Council’s case for selective licensing alongside proven alternatives.’

Nottingham: The best city to invest in property

Nottingham will be the the best city to invest in property for the next 10 years.

According to the land registry, Nottingham property prices will grow faster than any other city in the UK. If growth continues as it has done from June 2016 to June 2017, prices could rise by a whopping 160%!

This means an investment property valued today at £100,000 could be worth £260,000 in 10 years time!

How do we get this figure?

Looking at the UK House Price Index supplied by the Land Registry, we can see that Nottingham house prices have increased on average by 0.8% month on month. The average house price is around £133,215 which could work out at £346,359 by 2027.  Do you know how much your property is currently worth? Get a free property valuation via email or in person.

nottingham best place to invest in property

How do other cities rank?

The second fastest growing city for property prices would be Glasgow at 131%, followed by Edinburgh at 112% and Manchester at 93% price growth.

What does this mean for property investment in Nottingham?

If you’re looking to invest in property you are extremely likely to benefit, whether you will sell to make a profit or let to a tenant. You can usually invest in property for as little as 25% of the value of the property and if you are looking to buy in cash it may be worth considering splitting it into multiple deposits to buy multiple properties. It just means you can make a greater return on your investment!

First time investor? Read more about how you can invest in property for the first time.

If you’re an experienced investor and wish to invest in more property, Ricky, our investments manager, can recommend the best areas to gain the highest gross yields. Contact him below.

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Looking for buy to let mortgage advice?

Enter your contact details below to receive a call or face to face meeting and find out how much you could borrow.

Letting Fees Ban

The banning of letting agents fees, currently payable by tenants, was debated in Westminster Hall yesterday.

The main points discussed on a letting fees ban, which are likely to be implemented are as follows;

Redress Scheme
Landlords are to join a government redress scheme to which tenants can make a complaint about their Landlord. Currently all letting agents have to be part of one of these schemes and where a complaint is made, we have to pay the scheme a fee of £300 for them to adjudicate the complaint, even if it is judged in our favour. The complainants do not have to pay a fee.

Deposits
It is being considered to cap the level of deposits that can be taken at the outset of a tenancy to just one month’s rent, leaving landlords further exposed. There was some objection to this, so watch this space for the outcome.

Referencing/Inventories/Check in’s/Check outs/Renewals
The contributors to the debate were all adamant that the full cost of these should be paid by the Landlord and not the tenant.

Holding Fee
A tenant is likely to need to pay a holding or reservation fee, which is deductible from the first month’s rent if the tenancy proceeds. However, if the tenant pulls out after referencing fees have been incurred by the Landlord, then these can be recovered from the holding fee.

How to Let Guide
An MP is working on producing this guide for Landlords and Agents. It will be similar to the How to Rent Guide that must be provided to tenants at the beginning of a tenancy.

Banning Orders
Local Authorities will be given powers to ban Landlords from letting property if they are found to be contravening the laws.

Let Only Landlords
Those Landlords that self-let are not currently required to lodge the deposit with a third party. The requirement is only to insure the deposit. The debate showed concern that Landlords could abuse this at the end of the tenancy when considering deductions. This matter will not go away so expect changes.

Rental Increases
The Government is concerned that increased costs to Landlords will be passed on to tenants through increased rents. This is inevitable, it is just a matter as to how much.

Passport Scheme
The government has agreed to look into producing a tenant ‘passport scheme’ whereby a prospective tenant has already been referenced and approved (similar to an ‘agreement in principle’ for a mortgage). We do not know the details of this yet but will keep you informed.

Walton & Allen is a letting agent in the East Midlands based in Nottingham. We are committed to protect our existing Landlords and lobby the various authorities.

Nottingham House Prices Report

Nottingham house prices continue to rise as demand outweighs the amount of property currently on the market. The latest report from Rightmove compiles property information throughout the UK.

  • Demand for housing remains high
  • There is still a shortage of properties for sale, resulting in many buyers missing out
  • Sales agreed are up 4.6% on last month
  • Fantastic low interest mortgage rates means property sales are up
  • East Midlands house prices are up 4.9% on last year

With a large amount of excess buyers, and with prices still on the up, is now the right time to consider selling your home?

Nottingham house prices

Nottingham house prices continue to rise and were joint 2nd across the country in terms of increase at 0.9%. Nottingham property values are also up 6% on the previous year. The average Nottingham house price stands at £145,900.

Looking at this graph provided by Hometrack, you can see that prices are continuing to rise since 2010.

nottingham house prices

Rental prices are also up 2.8% this quarter and 1.9% on last year. The average asking rent across the whole of the UK is now at £790 per calendar month.

How much is your property worth?

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Mortgage rates

Are you coming up to the end of your fixed rate mortgage deal? With mortgage rates at the lowest we have seen in years we would definitely recommend having a chat with an independent mortgage broker. You can arrange for a quick phone call using the form below, or a face to face meeting. See how much money you can save!

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up with repayments on your mortgage. Think carefully before securing a debt against your home.

Shirebrook Mansfield Property Investment

Estate agents Mansfield, Walton & Allen, have just acquired a fantastic property, available now to buy at just £60,000.

The terraced house is located in Shirebrook, Mansfield, NG20, and requires little renovation to bring it up to modern day standards.

The average Shirebrook house price stands at £103,043 according to Zoopla. This means the property on Central Drive is an absolute steal!

shirebrook property estate agents shirebrook

Shirebrook sits on the border between Nottinghamshire and Derbyshire. The town benefits from a thriving economy, partly due to the Sports Direct warehouse which provides many jobs for the local area.

According to our lettings team, this property would rent for between £450 and £525pcm, depending on decor. This could give you a huge gross yield of approximately 10.5%!

If you were to buy this property in Shirebrook with a buy to let mortgage, you would need to put a 20% deposit down of £20,000. This means your gross yield would shoot up to around 31.5%, before taking financial costs into consideration.

Investors can also chat to our Investment Manager, Ricky, should they want to find out more about how we can help you as a Landlord.

Nottingham City Council Selective Licensing Update

Do you know about the Nottingham City Council Selective Licensing scheme? Read our notice.

Today, Tuesday 18th July, the Council is holding an Executive Board meeting to discuss the results of the consultation and it is likely that it will be approved, in a revised format. The key changes are as follows;

1. Having given full consideration to the consultation responses there is still believed to be a case for selective licensing in Nottingham. It is however no longer recommended that a Citywide scheme is pursued, but that the focus of the scheme should be on those areas which contain a high proportion of Private Rented Sector (PRS) properties. This is felt to be more proportionate to the problems being experienced in Nottingham and will provide a targeted response which can be reviewed and assessed. The reasons for proposed reduction in the size of the designation are outlined more fully in section 2 below.

It is anticipated that the Designation will now cover approximately 32,000 properties within the City

This is a reduction of circa 3,000 properties mainly in the Wollaton, Rise Park, Clifton South areas and in Social housing estate areas in the north west of the city.

2. Fees £655 for non-accredited Landlords and £400 for accredited landlords, paid in two parts, for a 5 year licence.

3. It is anticipated that 10% of accredited properties will be inspected and 50% of non-accredited properties will be inspected. This is likely to mean that not all landlords may receive an inspection.

4. 59 officers are to be employed to govern the scheme.

Once the recommendations are approved by the Council, the scheme will be submitted to the Secretary of State for Communities and Local Government (DCLG). The DCLG is expected to rubber stamp it with a proposed start date of 1st January 2018, only 5 months away.

Walton & Allen, as a letting agent and Landlord, is extremely disappointed with Council’s response as it is another kick in the teeth for Landlords who are already being targeted with new taxes and legislation.

The writer, Mark Batty, is investigating how Landlords can become accredited and the costs involved. Accredited Landlords can at least save £255 per property, which is some scant consolation!

To see the Councils Executive Board meeting agenda and relevant downloads click the link below and scroll down to item no. 7.

http://committee.nottinghamcity.gov.uk/ieListDocuments.aspx?CId=177&MId=6595

Walton & Allen is a proactive and forward thinking letting agent, keeping Landlords in the Midlands up to date with legislation and introducing new ideas to offset costs imposed by local and national government meddling in the PRS industry.

You can potentially save £255 per Nottingham city centre property.

Landlord Property Healthcheck

Are you making the most of your property investment?

  • Are you achieving the maximum possible rental income for your buy to let property?
  • Is your property always let, minimising void periods with no rental income?
  • Is your property checked as often as it should be to avoid maintenance issues?
  • What is your estimated buy to let property value?

Leave your details below to receive a free ‘health check’ property report, stating if you should be entitled to more rent, inspections and to see if your property has gone up in value.

Rental Tools for Tenants

Alternative to Rental Deposits

Typically, you are charged a minimum of 5 to 8 week’s rent as a security deposit, plus a month’s rent in advance.

As you’re looking to move and are probably in rented accommodation already, you will be out of pocket by around 12 weeks of cash deposit, 6 weeks for last property and 6 weeks for next property!

That’s a lot of cash, which is better in your account!

Through an insurance model, underwritten by Hiscox Underwriting Ltd, you can set yourself up with a RentPassport™ on the Canopy app that validates your profile in 10 minutes and provides an instant insurance quote to cover your deposit.

Rather than having to pay a traditional deposit, you buy an insurance policy, one off payment, which covers you for 12 months. The advertised rent is uplifted by 5% per month, so you do pay a little extra for the privilege of the landlord participating in this great scheme, but at least its spread over the full tenancy period.

Once you received your RentPassport™ on your iOS device, share it with us and we’ll take it from there. If you don’t have an iOS device you can use their web app available here.
The cost of the insurance policy is around 5-15% of the deposit value of the advertised property.

You are not, of course, compelled to use this product as you can follow the traditional deposit route – the choice is yours!

Download on the App Store

Enhance Your Experian Credit Report

While information about mortgage payments is included on credit reports, rent payment information currently isn’t. This means that tenants who make their rent payments on time are unable to have this positive information registered on their credit report.

We believe that you should get credit for paying your rent on time. That’s why we’ve teamed up with Experian and Credit Builder, giving our tenants the opportunity to enhance their credit report and be recognised for paying rent on time.

Once you’ve chosen a new property to rent, you’ll be invited to report your rental payments to Experian via Credit Builder’s online portal.

We are the only letting agency in Nottingham able to offer this service to tenants.

Your rental payment history will help create an online proof of identity and a higher credit score means it may become easier for you to get a mortgage, have a loan approved or receive better gas and electricity rates.

Please remember, if you don’t pay your rent on time and in full, your credit score may be affected.

If you’d like further information about the Rental Exchange you can visit www.experian.co.uk/rental-exchange/tenants.html

What can you do if you’re not a Walton & Allen tenant?

We have created a letter for you to send to your landlord. This letter asks them to switch from their current managing agent to Walton & Allen, meaning you can take advantage of enhancing your Experian Credit Report. Download your landlord letter here.

If you do not know who your landlord is, you can legally apply to receive their contact details. Download the application form here and send it to your current managing agents.

experian rent credit score

PropertyFile

To help you keep on top of your rental details, we can create a secure app account for you. Using an iOS or Android device, you can monitor your application progress or account balance, view details of your tenancy, report maintenance issues and even track their status.

You will receive notifications at every stage and will soon be adding more features such as uploading documents, ie your tenancy agreement or an EPC.

Once you have agreed to rent a property with us, we can start the activation process, which will show you how to download the App.

property file

So what do I do now?

Download the InsureStreet app and create your RentPassport™. Once complete, share it with us from the app to lettings@waltonandallen.co.uk and we’ll be in touch. In the meantime, browse the properties we have available, organise viewings with our lettings team and tell us which one you want.

Not all of our landlord clients participate in the deposit scheme offered by Insure Street. If you find a property, then we can contact our Landlord client and ask them. If not, then the traditional deposit method will apply.

 

Data Protection

Experian ensures that data protection is fully secure and agreed with anyone who accepts this scheme. Proposed tenants will need to agree to this sharing.

Not only will we be able to work with you more closely to manage your existing tenancy agreement, your track record as a tenant will enable Experian to use the information supplied to them in the future to assist other landlords and organisations to:

-Assess and manage any new tenancy agreements you may enter;
-Assess your financial standing to provide you with suitable products and services;
-Manage any accounts that you may already hold, for example reviewing suitable products or adjusting your current product in light of your current circumstances;
-Contact you in relation to any accounts you may have and recovering debts that you may owe;
-Verify your identity and address to help them make decisions about services they offer; and
-Help prevent crime, fraud and money laundering.