The effect of the recent Interest Rate increase on Walsall Property…

The effect of the recent Interest Rate increase on Walsall Property...
The effect of the recent Interest Rate increase on Walsall Property…

I wrote my thoughts in an article in October 2016 after interest rates were slashed to 0.25%. You can read the full article by clicking here. Then in December 2017 I wrote a further article when it was announced interest rates would be increased to 0.50%. The full article can be found by clicking here. Existing clients and Blog reading friends alike have been asking me for my thoughts on the recently announced increase…the current average value of a property in Walsall currently stands at £181,994 so what will the recent increase in the base rates to 0.75% from 0.50% do to the local property market?

In many of my articles, I talk about what is happening to property values over the short term (i.e. the last 12 months or the last 5 years), but to answer this question we need to go back over 40 years, to 1975.

The average value of a Walsall property in 1975 was £8,285

However, since 1975, we have experienced in the UK, inflation of 807.5%.

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My BTL Deal Of The Day Is A 3 Bed Semi In Shelfield, WS4 Yielding 7.50%.

This 3 bed semi detached home is situated on Woodbridge Close, Shelfield, Walsall, WS4.  On the market with Bairstow Eves (01922 312791).  Priced at £100k, but asking for offers over that amount. The full details can be found here.

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

The property looks well maintained and in good decorative order, but without an internal viewing it is difficult to assess what improvements are required, if any.

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GDPR & Walsall Landlords

GDPR and Walsall Landlords
GDPR and Walsall Landlords

Don’t know about you but I had heard so much about the new GDPR laws which came into force towards the end of May 2018 that I thought many of my Blog reading friends wouldn’t wish to hear another word on the matter!!  On the contrary…I’ve received several requests to clear matters up for you guys especially, around your personal responsibility when it came to staying on the right side of the law.

If you are letting a property in Walsall or indeed the UK for that matter, GDPR for landlords certainly affects you in a few key ways.  Before I address these major changes, let’s take a quick look at how we got to this point.

A brief history of UK data protection

In essence, data protection regulation has been enforced in the UK as a way to ensure that businesses and business owners do not abuse or misuse the data of their customers.  The purpose is to ensure it is not just used correctly but also stored safely.  In the UK, the first Data Protection Act was introduced in 1984.

It has been subsequently revised over the years and in 1993, a famous case was brought forward which saw PC Brown being prosecuted for mishandling data.  Though the ruling was eventually overturned, it was a landmark case and UK businesses seemed to start taking data protection more seriously.

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Do Walsall Landlords need Letting Agents?!

Do Walsall Landlords need Letting Agents?!
Do Walsall Landlords need Letting Agents?!

So far 2018 has been hectic or what…??!!  Time seems to be running through my hands like water.  As a landlord and a property manager my daily workload is varied and that’s what I like about my life (afterall, as the saying goes – ‘variety is the spice of life’).  The planned stuff mixed in with the unplanned keeps a working day interesting.  However, if you are prone to anxiety attacks and don’t like uncertainty of a day in the life of a property manager, then perhaps you would be best advised to seek out the assistance of an expert…

So, the short answer to the question posed by a friend of mine (who is also a self-managing Walsall landlord) is that landlords don’t need to use the services of a Walsall letting agent.  Many Walsall landlords decide to be hands-on and undertake the whole lettings process themselves.

I started investing in Walsall buy-to-let property nineteen years ago in 1999 and I was keen to learn and control the whole process myself.  I was wary of entrusting others with what was ultimately my financial future and my thoughts were that no agent could possibly care about my Walsall property as much as me.

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Today’s Buy To Let Deal, 3 Bed Semi Detached House, Chestnut Road, Walsall, WS3. With Yields Of 5.03%.

A very nice 3 bed semi detached house in Harden, Walsall, WS3. Currently marketed by House Network (01245 409116). It has a very nice spec with gas central heating and double glazing.

It is certainly a family home with spacious gardens and being fairly low maintenance. Parking is off-road. The master bedroom has an en-suite shower room and there is a separate dining room.

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Today’s Buy To Let Deal, 2 Bed Terraced House, Camomile Close, Walsall, WS5.

A two bedroom terraced house, Camomile Close, Tamebridge, Walsall, WS5. Ideal for a buy to let investment opportunity. Marketed by Bairstow eves (01922 312791) and at a very reasonable £120k asking price. You can find the full property details here.

Situated in the highly popular Tamebridge estate, which is very conducive for long term letting.

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2 Bed Semi Yielding 5.49% Makes My Buy To Let Deal Of The Day

A beautifully pressented two bedroom semi detached house on a popular newbuild estate approx 1 mile from Walsall town centre, WS2. The property has an immaculate spec and is ready to go.

There are two double bedrooms, a modern fully fitted, a medium sized rear garden and off-road parking. It would be better appreciated by a viewing. The location is within easy reach of all the major road networks, services and other amenities lending easy access to Walsall town centre.

This property is absolutely ideal for the rental market.

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