House Investment Walsall

Walsall Property – Jargon Busting Terminology (PART 1)

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
Walsall Property - Jargon Busting Terminology (PART 1)
Walsall Property – Jargon Busting Terminology (PART 1)

Something different this week for my blog reading friends…in recent months I have been asked on several occasions to explain certain terminology that has cropped up during Walsall property transactions or just in conversation.  For ease of reference I have gone through the list in alphabetical order; the overwhelming array of acronyms and specialist terminology in simple layperson terms.  To save the article from being endless pages I have split this into two parts with part 2 releasing soon – so watch this space!  If there is anything I may have missed please feel free to comment or get in touch.

The meaning behind the lingo…

A

Abandonment – Abandonment is when a tenant leaves the property (usually without notifying the landlord or agent) before the tenancy has ended.  Very often this occurs when the tenant owes rent and the tenant may or may not leave possessions in the property.  Although the tenant is in the wrong for many reasons, they still have a legal tenancy and can return and demand to take up residence at any time, despite not paying rent.  Taking over an abandoned property is fraught with difficulties for the landlord and specialist advice should be sought.

Advance – A mortgage loan – an additional loan is referred to as a further advance.

Adverse Credit – Used to apply to a borrower or application that has past problems with bad credit, for instance frequent late payment, breached arrangement, bankruptcy or County Court Judgement.

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What if…the UK Population lived on One Street??!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , ,
What if…the UK Population lived on One Street??!!
What if…the UK Population lived on One Street??!!

In my line of work I meet many property entrepreneurs…from budding enthusiasts…to seasoned developers.  Meetings whether face-to-face, by phone, Skpe or email lead on to many interesting conversations some of which, I write about.  I don’t profess to have all the answers but I like reading and learning about property.

This sometimes takes me away from our local Walsall property market, to conversations about our region and the national geographic area as a whole.  My expertise is in the local area where I ‘ply’ my trade to ‘eek’ out a living.  Anyway, I thought I would share something different with you this week, my blog reading friends, which I found really interesting and entertaining at the same time…hope you do too!

If the population of the UK were condensed into just a single street, more than a third of us would live in a semi-detached house worth £207,000.

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Today’s Buy To Let Deal, 3 Bedroom Semi Detached House, Booth Street, Walsall, WS3. With Yields Of 7.52%.

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Buy to Let Property Deals , , , , , , , , , ,

A very nice 3 bed semi detached house in Blakenall Heath, Walsall. The area has changed for the better over the last few years due to the housing regeneration that has happened. Currently marketed by Webbs estate agent (01922 312727). It’s a decent spec, but will need some attention in certain areas of the decor. It has gas central heating and double glazing.

It is certainly a family home with a spacious rear garden with awning over a patio area and being low maintenance. Parking is off-road on the front curtilage with space for at least two vehicles.

The location is ideal commuting distance to Walsall town centre and close to the major transport routes. Schools and healthcare centres are aplenty and within easy reach.

The minimum pcm you could expect is £595.00 and if the property sells at the current asking price, this would mean a yield of 7.52%.

If you would like an instant online appraisal as to the rental value of your property, please click here.

Click here for full property details or call Webbs estate agent (01922 312727) to arrange a viewing, I highly recommend it.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: http://www.walsallpropertyblog.com

Facebook:https://www.facebook.com/AshmoreLettings

Twitter: https://twitter.com/AshmoreLettings

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Would you buy a leasehold house in Walsall?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,
Would you buy a leasehold house in Walsall?
Would you buy a leasehold house in Walsall?

Following on from last week’s article and my marathon break from the blog – I’ve had some interesting queries around freehold and leasehold property.  I have written about this subject in the past (click HERE for the previous article) however, the theme I’ve noticed amongst my blog reading friends requests is…’which one is the more beneficial?’

In total there are 23.36 million properties in England and Wales with 64% being of owner occupied tenure and 36% being rented (includes both the private and social landlords).

Over nine out of ten of those English and Welsh owner-occupied properties are a whole house or bungalow. Now, most people would assume they would be freehold – however, of those renting nearly half of rental properties, 44% to be precise, lived in other leasehold apartments and flats.

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As a Walsall landlord is it wise to set up a Limited company?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
As a Walsall landlord is it wise to set up a Limited company?
As a Walsall landlord is it wise to set up a Limited company?

A question I get asked all too often is around whether to set up a limited company or not?  I’ve always maintained my expertise is not around tax (as much as it is the Accountant’s job and that’s why I have one..you should do too), but on this platform I can always share my thoughts with you.

In November 2015, George Osborne disclosed plans to restrain the buy to let (BTL) market, implying its growing attractiveness was leaving aspiring first time buyers contesting with landlords for the restricted number of properties on the market.  One of things he brought in was that tax relief on BTL mortgages would be capped, starting in April 2017.  Before April 2017, a private landlord could claim tax relief from their interest on their BTL mortgage at the rate they paid income tax – (i.e. 20% basic /40% higher rate and 45% additional rate).

So, for example, let’s say we have a Walsall landlord, a high rate tax payer who has a BTL investment where the rent is £600 a month and the mortgage is £400 per month.  In the tax year just gone (16/17), assuming no other costs or allowable items …

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Walsall Property and the Housing White Paper..Back to the Future Part 2 (2037)!!

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Walsall Property and the Housing White Paper..Back to the Future Part 2 (2037)!!
Walsall Property and the Housing White Paper..Back to the Future Part 2 (2037)!!

I had an interesting conversation with a landlord who called me last week.  He manages his own portfolio and seemed well versed with the lettings industry.  He kept himself updated of the constant and fast changing world of housing and all the happenings in the Walsall Property Market.  He said he had been receiving my newsletters for some time now and followed my Blog with interest and wanted to pick my brain on the much awaited housing White Paper.  A summary of my thoughts and discussion with the landlord follows…

In case you didn’t know, a few weeks ago, the Government released a White Paper on housing.  It was interesting to note that the Private Rental Sector (PRS) played a key part in the future plans for housing. This is especially important for our increasing Walsall population.  It follows nicely from the article I wrote last week regarding Walsall property since 1981 where we looked back at what has happened since then.  In today’s article we can marry both the White Paper impact on Walsall’s Property Market, together with projections for the future and how they both tie in.

In 1981, the population of Walsall stood at 255,509…

…and today it stands at 278,902.

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Are Walsall Landlords Exploiting Walsall Property?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , ,
Are Walsall Landlords Exploiting Walsall Property?
Are Walsall Landlords Exploiting Walsall Property?

I can’t remember who coined it first but the first time I heard it was when Mrs Thatcher said it…“An Englishman’s home is his castle-and everyone should own their own home”.

In 1971, around 50% of people owned their own home and, as the baby-boomers got better jobs and pay, that proportion of homeowners rose to 69% by 2001.  Homeownership was here to stay as many baby boomers assumed it’s very much a cultural thing here in Britain to own your own home.

But on the back of TV programmes like Homes Under the Hammer, these same baby boomers started to jump on the band wagon of Walsall buy to let properties as an investment. Walsall first time buyers were in competition with Walsall landlords to buy these smaller starter homes… pushing house prices up in the 2000’s beyond the reach of first time buyers. Alas, it is not as simple as that. Many factors come into play, such as economics, the banks and government policy. But are Walsall landlords fanning the flames of the Walsall housing crisis by adding to the bonfire?

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Walsall Landlords vs Walsall Savers

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,

A couple of articles back, I did a piece on the effect of the 0.25% base rate on the Walsall property market. This time, I want to look at the situation that Walsall ‘savers’ find themselves in.

What, you might ask, has the plight of Walsall savers have to do with the Walsall property market… well, everything in fact!

Read the newspapers, and every financial wizard is stating that with the decision of the Bank of England’s Monetary Policy Committee in early August to cut the Bank of England base rate to an all time low of 0.25%, savers should prepare themselves for interest rates to stay low well into the early 2020’s.

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Which month of the year is ‘best’ to sell your Walsall property?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , ,
Which month of the year is ‘best’ to sell your Walsall property?
Which month of the year is ‘best’ to sell your Walsall property?

I had a homeowner from Bloxwich email me the other day. She said she had been following my blog for a while and wanted to pick my brain on when I thought is the best time of the year to sell a property in Walsall. Trying to calculate the best time to put your Walsall property on the market can often seem something akin to witchcraft and whilst I would agree that there are particular times of the year that can prove more productive than others, there are plenty of factors that need to be taken into consideration.

Even if you are putting your property on the market, you don’t know how long it will take to find a buyer. At the moment, for the latest set of figures for all 52 Estate Agents that cover the Walsall area (not including the online), the average length of time it takes to find a buyer for any Walsall property is as follows…

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Walsall Landlords & Investors – does your letting agent go THIS far?

Head of Juicing @Ashmore Lettings & Sales Ltd Walsall Property Market , , , , , , , , , ,

Walsall Landlords & Investors – does your letting agent go THIS far?
Walsall Landlords & Investors – does your letting agent go THIS far?
A local Walsall landlord recently contacted me after he found my blog (the Walsall Property Blog) and thought to take me up on my offer of advice.  He lives in Parkhall and was thinking of purchasing a property he had seen.  As I’ve always maintained, opinion costs nothing and I am always happy to pass my opinion on any property in the open market.

After he sent me the link to the advertised property I started my research and found some interesting facts.  The property in Walsall was a 3 bed mid-terrace advertised for £129,950.  Just four weeks ago, when it was first advertised, it was priced at £134,950.  So a drop of £5,000 in a month! I smelt a potentially motivated seller. Here’s what makes it more interesting…when I dug deeper…I found the property had been on the market two years ago but for some reason, didn’t sell so was taken off market at that time!!

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