19 Swallow Drive front

Summer is here and with the arrival of the sunshine comes a whole host of new properties at Norfolk Property Lettings & Management.

 

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It is interesting to see how many former office blocks are currently being converted into city living apartments

At Norfolk Property Lettings & Management we have successfully let a number of these in recent months to those seeking a modern home in the heart of Norwich.

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It has been an exciting 12 months for Norfolk Property Lettings & Management

The past year has seen us successfully grow the business while also managing to ensure we retain the personal and professional service we are known for.

 

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Landlords working with independent agencies such as ourselves know only too well the benefits of a bespoke service

Not only do we have vast experience and extensive local knowledge but we are able to offer the kind of hands-on service the corporate companies just can’t compete with.


UK city house price inflation increases to 6.1% with robust growth in regional cities.
The house price to earnings (p/e) ratio in London is 14.5x. Three other cities have a ratio over 10x.There is further upside for house prices in large regional cities of up to 25% if affordability levels rise over the long run average. In London the p/e ratio is expected to drift lower.

Looking to rent a new home? Whether you’re a novice or it’s just been a while since last time, these simple steps will help you land there safely.
Read more with.

By Phil Spencer

Cleanliness – or its lack – has been named by letting agents as the most common reason for tenants losing their deposit.

Four people are treated for carbon monoxide poisoning in the UK every day - but 58 per cent of the population couldn’t spot a carbon monoxide leak, new research reveals.

Almost a third of renters in the UK do not have a life-saving carbon monoxide alarm in their property, with four in five unaware that it is their responsibility - and not their landlord’s or agent’s - to provide one.

A new inquiry has been launched into the private rented sector.

It will specifically look at the area of enforcement by local authorities, including whether councils have adequate powers to intervene when rental properties are sub-standard or dangerous, whether licensing schemes are working, and whether tenants are able to complain effectively.

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Research experts at high-end agency Savills say a total of £5.3 billion is expected to be invested in the student accommodation sector this year, up 17 per cent from 2016.

SAFEAgent 

Norfolk Property Management and Letting are members of SafeAgent 

This week, 3,000 lettings agents across the UK will promote SAFEagent Awareness Week.

The aim is to highlight to consumers the importance of choosing an agent which is part of a Client Money Protection (CMP) scheme run by a regulatory organisation.

The Government has just released its much anticipated Housing "White Paper".

The document outlines their plans to mend the "broken" housing market, make all types of homes more affordable, create more affordable housing, and more security for renters.

The buy to let mortgage market has suffered something of a battering in recent months but now Post Office Money is launching a new range of products on Friday, aimed at first-time landlords or those with small portfolios. The lender says its latest products are designed for those buying their first rental property, or for someone who wants to own one or two such properties. The new rates start from 1.93 per cent for a two-year fixed loan at 70 per cent Loan to Value with a £995 fee.

There was a significant rise in the amount buy-to-let landlords borrowed to invest in property before the introduction of new affordability tests brought in at the start of this month ahead of changes to tax relief from April this year, new figures show.Landlords borrowed £3.2bn in November 2016, up 10% month-on-month, but down 9% year-on-year, the Council of Mortgage Lenders (CML) said.

The Prudential Regulation Authority (PRA) Consultation on landlord ‘affordability’ management is being implemented as guidance to lenders from the 1st of January.the clock is ticking

The PRA are requiring Buy to Let lenders to take into account borrower’s increased tax liabilities due to Section 24 mortgage interest relief reductions and other outgoings when assessing the amount of loan requested.

Landlords and buy-to-let investors appear to have returned to the market following the post-Stamp Duty lull in April, Rightmove has claimed.

The portal’s Rental Trends Tracker for the third quarter of 2016 found that buyer enquiries from potential landlords and investors are now up 30% since May, following a short-term dip as additional Stamp Duty charges came in on April 1.

House price inflation continued to slow in September, Halifax has revealed. House prices did go up last month, but by just 0.1% on August.

The lender’s latest house price index recorded average prices at £214,024 for September, up 5.8% annually, which is down from 6.9% in August.

According to the latest report from mortgage industry tech supplier, IRESS, the buy to let sector continues to go from strength to strength, seeing a 49% increase in buy to let compared with it's 2015 Survey.