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Buy to Let & Brexit

Brexit has caused uncertainty across many industries including the Buy to Let Investment Sector. Up to a third of property investors have not invested since 2017 when the official Brexit negotiations started.

The survey from Censuswide found that 60% of property investors have continued to invest since the 2016 Brexit referendum, others are thinking of investing and 17.1% are waiting until after Brexit before they invest again.

Most of the investors who took the survey think that the buy to let market will recover strongly over the next 3-5 years.

However, there are opportunities to be found now.  The uncertainty has created new below-market deals and although there is speculation as to what will happen to prices in the market with Brexit (or no Brexit) if you buy at the right price your investment should be protected.

As soon as the market starts to pick up finding those below market value investments can be made more difficult.

No-one knows whether Brexit will happen next month or not so the question for investors is how long are you planning to keep your investment for?

If you’re looking at 5-10 years on your buy to let investment, then why not invest now and start delivering returns?

We have some great deals and investments.  Check out our latest blogs for great investments in Sheffield and Bradford. 

Sign up for the latest deals and more to our Investor mailing list – Click Here

Thanks for reading

Jo Fox.

Bradford Investment Opportunity

Modern Student Apartments

All apartments in the project are spacious, with the clever use of natural and electrical lighting, the apartments are light and airy, providing truly special homes. Communal areas will be provided, including a games room, common room, lounge and gym.

Apartments are available for just £49,000

The first stage of apartments are now completed and the remainder will be ready by October. Due to being a conversion, everything is new and covered by warranty, therefore no maintenance issues are expected.

The University

As well as a world-renowned university, Bradford campus also has a college, student village, Fieldhead Business Centre and Listerhills Science Park.

Bradford University enrolls 11,000 students annually and there is a shortage of good quality student accommodation in the area.

Bradford University is ranked 7th in the UK for Graduates Employment, many of these students chose to remain living in the city. As well as the broadcasting industry, the University has strong links with local business and offers courses which lead directly to qualification in a job, such as healthcare courses.                       

The Area

Bradford is a city of 350,000 and is situated in West Yorkshire, on the edge of the Yorkshire Dales National Park.

Bradford has several major employers, with many national companies making the city their home; including Morrisons, Yorkshire Building Society, Yorkshire Water, Santander Bank, JCT600, Safestyle UK, Hallmark Cards, Provident Financial and Seabrook Crisps.

Bradford is home to 2 FTSE companies, more than any other Yorkshire City.

The City is served by the M62 and M606 motorway, along with 2 City Centre Train Stations and a bus interchange linking Bradford to other parts of West Yorkshire and beyond. Leeds-Bradford International Airport lies to the north east of the city, giving international air links, as well as being home to Jet2 Airline.

Bradford has experienced great gentrification, with £75 million being awarded to the town, a number of City Centre iconic Buildings have been restored, the central £25 million “Bradford City Park” attracts visitors from across Yorkshire, the National Science and Media Museum brings visitors from across the UK and beyond.

The economy in Bradford is strong; once an industrial powerhouse now experiencing growth as part of the Northern Powerhouse, the economy is worth £9.5 billion, the 2nd largest in West Yorkshire, after Leeds. The economy in the wider Yorkshire region grew by 3.03% in the 12 months of Q2 2018 – Q2 2019.

The Numbers

Apartments are available for purchase at £49,000. They will rent out at £100 per week.

Expected yields are between 8-10%. No sourcing fees!

A great investment opportunity.

If you would like more information, please contact us here.

PPN Mastermind Sessions

A different format for PPN this month to give you even more!

This is your opportunity to kick-start/reboot/hit the ground running after the Summer holidays.

Whatever you’re doing in property, this event has experts that you can speak to directly, and not just for 5 mins at the end of the night.

Buy-to-lets, property finance and lettings are just some of the topics you can quiz experts in. And, if that’s not enough, you will have the opportunity to switch experts and learn even more.

I’ll be one of the Masterminds at this event covering Sourcing, Buy to Let and much more.

Imagine the impact you could have on your business if you just got the answer to your biggest challenge right now and how much you could get done before the end of 2019 by taking action right now.

Full details of who’s coming to Sheffield will be released on the PPN Page.

Tickets to this event are limited because as only a few people can sit with each expert, so do yourself a favour and secure your seat with an expert now!

FREE Rent Protection!

Offer extended until 30th September!

Our very special offer in August has been extended for all landlords.

For every property you ask us to manage in before the end of September 2019 we will include our Rent Protection for FREE!

No conditions, no catches, simply a great offer.

Complete peace of mind and your investment protected for FREE!

Contact us now! Call 0113 347 0824 or click here…https://www.investleeds.co.uk/contactus/

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What is Rent Protection or Rent Guarantee?

Landlord’s Rent Protection Insurance also referred to as rent guarantee insurance, guarantees you receive your rent should your tenants be unable to pay.  It helps when the unexpected occurs.

Rent Protection Insurance covers missed rental payments, cost of eviction, void periods, post-eviction and includes cover for Legal Expenses. 

If you’re a landlord who depends on the monthly rental income to pay the mortgage on your properties, or for other reasons, this type of insurance can be useful. 

Do I need Invest Leeds Rent Protection?

Rent Protection with us can give you peace of mind once you have let your property to a tenant. It has been designed to provide you with some added protection when you are renting out your properties to tenants.

Why should I join Invest Leeds Rent Protection?

Even the best tenants can have their circumstances suddenly change, resulting in them no longer being able to pay the rent. 

Whether you’re relying on the rent to cover the cost of the mortgage on your buy-to-let property or you’re letting to new tenants, Rent Guarantee ensures you can still receive your rental income.

We make sure all tenants pass Invest Leeds Referencing.

Referencing is required for each tenant named on the Assured Shorthold Tenancy Agreement and for the full rent outlined in the agreement.

How do I qualify for Invest Leeds Rent Protection?

Our Rent Protection is available on properties we manage. Simply place your property with us and we can offer you our exclusive Rent Protection.

*Invest Leeds Rent Protection is not available as a stand-alone product.

Get in touch & protect your investments https://www.investleeds.co.uk/contactus/

Jo Fox

Founder – Invest Leeds

Rent Protection from Invest Leeds.

What is Rent Protection or Rent Guarantee?

Landlord’s Rent Protection Insurance also referred to as rent guarantee insurance, guarantees you receive your rent should your tenants be unable to pay.  It helps when the unexpected occurs.

Rent Protection Insurance covers missed rental payments, cost of eviction, void periods, post-eviction and includes cover for Legal Expenses. 

If you’re a landlord who depends on the monthly rental income to pay the mortgage on your properties, or for other reasons, this type of insurance can be useful. 

Do I need Invest Leeds Rent Protection?

Rent Protection with us can give you peace of mind once you have let your property to a tenant. It has been designed to provide you with some added protection when you are renting out your properties to tenants.

Why should I join Invest Leeds Rent Protection?

Even the best tenants can have their circumstances suddenly change, resulting in them no longer being able to pay the rent. 

Whether you’re relying on the rent to cover the cost of the mortgage on your buy-to-let property or you’re letting to new tenants, Rent Guarantee ensures you can still receive your rental income.

We make sure all tenants pass Invest Leeds Referencing.

Referencing is required for each tenant named on the Assured Shorthold Tenancy Agreement and for the full rent outlined in the agreement.

How do I qualify for Invest Leeds Rent Protection?

Our Rent Protection is available on properties we manage. Simply place your property with us and we can offer you our exclusive Rent Protection.

*Invest Leeds Rent Protection is not available as a stand-alone product.

Get in touch & protect your investments https://www.investleeds.co.uk/contactus/

Jo Fox

Founder – Invest Leeds

Leeds Selective Licensing

Selective Licensing of Landlords in Leeds

UPDATE: 02/07/19

Leeds City Council voted to approve the plan to introduce Selective Licensing for parts of Leeds. From January 2020 landlords will need to apply for a license to privately rent out a property in Beeston & Harehills.

The majority of residents who took part in consultations were in favour of them being introduced but myself and the majority of Agents and Landlords were opposed to the scheme as ultimately the costs will be passed onto struggling tenants.

Landlords who let a property without having a licence would be committing an offence and could face an unlimited fine or a civil penalty of up to £30,000.

I was recently invited onto to Radio Aire to discuss Leeds Selective Licensing:

“Landlords are already feeling the financial drain that new legislation has brought in, and this is just going to make it worse” 

“Most landlords will add it to the rent, they’ll put the rent up by £12 a month or £3 a week.

“There are already a lot of powers that the council have got, for example, the Leeds landlords accreditation scheme. I think a good solution would be to make it mandatory for people to join that instead of stamping a hefty license fee. Tenants will be the ones paying for it.

Leeds City Council is going to introduce selective licensing in parts of Leeds including Beeston (Leeds 11) and Harehills (Leeds 9) which have the highest ratio of tenanted property in the city.  There are approx. 14,000 properties within the zone.

Enshrined in Law

Leeds Selective Licensing is enshrined in the Housing Act 2004 although local authorities were given discretion to apply it only to certain areas.

The proposed cost will be £825 per property, equivalent to £3 a week. The Council are describing it as a “one-off” fee but the licence will only be valid for 5 years.

The council have stated that they will not profit from the scheme and any surplus will be refunded.  I believe any refunds will be unlikely.

What are the differences between the Leeds selective Licensing Scheme and HMO Licensing?

The same rules apply when granting a Selective Licence as with an HMO licence.  The main differences are:

  • It is mandatory to take up references for a prospective tenant before letting a property subject to Selective Licensing.
  • Unlike HMOs, the licencing authority does not have to consider suitability for letting or amenity standards when granting a selective licence.  However, the licence holder must still be a fit and proper person.”

Over 50% of homes in the designated areas are private rented. This compares with 15% in 2001, so there is an ever-increasing demand for housing to be inspected and of good quality. The Leeds City average of houses belonging to the private rented sector is 21%

What do Leeds City Council Say about Selective Licensing

The Council are saying there was a low take-up of the self-regulation via their accredited landlord scheme, so they are looking into what else they can do to get landlords to improve standards of living and in turn hopefully improving crime, low levels of education, high unemployment and the health of people living in these areas.

So far, 94% of landlords and 100% of agents have been against the proposals, they believe bringing in selective licensing will do the following:

  • Pass the cost on to tenants via increased rents
  • Lead to increased homelessness and empty homes
  • Lead to further poverty in these areas

Invest Leeds believe something needs doing about the state of some housing in these areas and across Leeds as a whole, we recently viewed one property with frogs in the basement, excessive damp, unrepaired broken windows and the only cooking facilities were a microwave in the shower!

Two people were living in this property as an HMO and one of the tenants had been refused access to his daughter overnight as he was considered not to be living in adequate accommodation.  He is scared to report the issues for fear of being evicted.

We also believe licensing is not the way to improve standards.

The council already have a lot of powers to make landlords improve the standards of their properties, including placing an order on a property to improve and comply within 28 days.  If this doesn’t happen then court action follows.

Invest Leeds agrees that with landlords already feeling bruised by the introduction of Section 24, increased SDLT and other measures, that forking out £825 is not a sensible approach and maybe a good alternative is to enforce landlords to join the accredited landlord scheme instead, this way, support can still be given to improve and enforcement is an option for refusing to comply.

Invest Leeds also want to state that we work with many landlords within these areas and they provide very safe, modern and compliant properties that their tenants turn into their home.

And here is my recent interview with Radio Aire on Selective Licensing

Jo Fox

Invest Leeds

If you want to rent your property out with a Leeds Letting Agent who is famililar with the licensing laws, then click here Leeds Landlords

And if you want to sell your property in the licensing areas, then we always have investords waiting for the right deal – so post your property now Sell your home in Leeds

Property Investor Show 2019

Jo will be speaking! 

Join her at 12.20pm on Friday October 4th in Room 6.  

She will be taking you through the benefits of investing in Leeds and the surrounding areas where yields of 10% and ROI’s of 25% are common place.

This is the most comprehensive exhibition of UK & International residential property and services.

About The Show

The UK’s premier property expo is the “MUST ATTEND” event for anyone serious about making money from property investment. As always the show is FREE to enter.

It is the ideal place for networking, obtaining reliable and up to date property market information and, of course, property to buy. It is designed to cater for all levels of property experience – everyone from the novice to the seasoned investor will find an answer to their questions.

With 125+ exhibitors expected and approximately 75 seminars, presentations and panel debates scheduled, you can identify the expertise and advice you need to make the right decisions on your specific area of investment interest.

Approximately 25% of the floor space will be dedicated to International property and provides the opportunity to compare established overseas markets such as USA, Cyprus & Portugal with emerging/newer/long-haul locations e.g. New Zealand, India, Dubai, Cape Verde, The Gambia & Nigeria. International agents and developers will be present alongside specialists who can advise on the process of buying, selling, and even moving overseas.

Show highlights will include …

Residency thru Investment

At last count, 23 countries from Cyprus to Singapore offered some kind of investment residency or citizenship scheme and more are being created with similar programmes proliferating across Europe. Almost half of all EU member states now offer some form of investment residency or citizenship programme – and of course, the USA offers its EB-5 programme.

Landlord Live

Every year since 2002, this show has witnessed the largest single gathering of Landlords at ANY property event staged in the UK – creating, by default, the ultimate Landlord forum. The typical visitor owns 4+ properties (35% own 10+ properties).

Mortgage, Lending & Finance

Veteran and novice investors can discuss a range of purchase, bridging and refurb’ loans from a broad range of ‘High Street’ and specialist lenders – including several crowdfunders.

Innovation … What’s New?

A rapidly emerging sector in the Technology space, the methods by which property is handled, managed and experienced are undergoing something of a revolution.  And it’s not just the
mushrooming of online estate agency – many other aspects are ripe for a technological overhaul.

Property Development Finance

The last 2 years has witnessed a marked increase in development amongst BTL investors. Projects may vary in scale from cosmetic refurbs to complex re-builds … but most require finance. Meet the specialists at this show.

Direct from the Developer                                                                  

As the name suggests this show feature offers a unique opportunity to meet and negotiate directly with a range of leading developers. The list includes several big names from the North & South of England.

HMOs

HMO investments – and the high net rental yield potential they offer – have been rapidly growing in popularity among investors in recent years. This year’s show will include representation from several of the UK’s HMO experts.

Nigeria Invest

The ONLY UK showcase of property from a selection of African countries presented in the UK this year will present a mix of residential and BTL property from a selection of leading developers and agents.

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