Summer is truly upon us. I know this not because of the wonderful weather we are having but because of the lack of traffic on our roads as we benefit from a temporary lull in the daily “school run”! 

The lettings market continues apace with demand continuing to outstrip supply although nationally there are a number of reports of a growing issue with arrears. At Lenwell we have always advocated the view that the quality of tenant is more important than the last few pounds on the rent as it is void periods that cause the rapid erosion of investment value.

In this edition we look at the some of the key market issues as well as the key results from the Government’s annual survey into housing. Lucinda Newell takes her own inimitable look at reputation and brand values in the light of the recent News of the World controversy.

Happy Reading!



Rob Wellstead
Managing Director

Trading Places
The government’s proposing to empower local authorities to evict council house tenants who earn in excess of £100,000, but what does it mean for the private-rented sector?
Lorna Blackwood of the Negotiator magazine investigates.........
Click here to read full article


Survey shows changing shape of UK property market and growth of private rental sector.
Published by the Department for Communities and Local Government (CLG), the survey shows that out of the 21.6 million households in England in 2009-10, a further 17 per cent were social housing renters, and 16 per cent were private renters.....
Click here to read full article
 

The Lucinda Newell Column

To be seen pottering along the highways and byways of Luton in her Mini Clubman, her trusted Scottie Malcolm at her side, our super sleuthing property rental expert Ms Lucinda Newell is on the case on your behalf!

It seems like half a lifetime ago since Gerald Ratner infamously destroyed his own jewelery company by insulting his customers with a single ill judged speech. His comment that some of his goods were cr*p and that a Marks & Spencer sandwich would last longer than a pair of his ear-rings was misjudged and has been held up as a prime example of self inflicted business disaster...Click here to read full article
 

Rise in number of buy-to-let mortgages.
Half of mortgage intermediaries reported that buy-to-let applications increased during the second quarter....Click here to read full article




 
Proposed changes to legislation in regards Energy Performance Certificates (EPCs)
PROPOSED CHANGES TO THE ENERGY PERFORMANCE OF BUILDINGS (CERTIFICATES AND INSPECTIONS) (ENGLAND AND WALES) REGULATIONS 2007 (THE EPB REGULATIONS)...


Click here to read full article


 
Average Buy To Let mortgage rates drop
The average chosen buy-to-let rate for both fixed and tracker mortgages has fallen in the second quarter 0.18% from the first quarter reveals TBMC’s Landlord Profile Tracking Index.

The research sourced from 754 buy to let applications, revealed the average chosen fixed-rate was 4.82% during the second quarter of 2011, down 0.18% from 5.00% during the first three months of this year.

The average chosen tracker rate was 4.02% during the second quarter of 2011, down 0.18% from 4.20% during the first three months of the year.

Andy Young, chief executive at TBMC, said: “The index shows that average rates fell during the second quarter of this year, following the rise in the previous quarter. This reflects the weight of opinion in the City that any rise in the Bank of England base rate is likely to happen much later in the year than previously expected, and perhaps not until 2012.

“The expectations of the City regarding interest rate rises are mirrored by the product choice of buy-to-let property investors during Q2, with variable rate products accounting for 59% of applications received by TBMC compared with 41% for fixed rates.”

“Variable rates are also popular amongst landlords as they often present the most achievable rental calculations in the marketplace.”

Rob Wellstead, Managing Director at Lenwell said: “We have seen greater competition between lenders in the mortgage market in recent months resulting in more attractive deals for buy to let borrowers and shows the need for anyone considering taking a mortgage or re-mortgaging to take professional advice.



And finally...
Everyone at Lenwell would like to take this opportunity of extending our best wishes for the holiday season.

The lettings market, of course, waits for no-one and our teams remain fully focused on providing landlords and tenants alike with the best service possible.

Should you have any comments or questions, we should be delighted to hear from you.

Sincerely

The Editor
editor@lenwell.com