Today’s Buy To Let Deal 3 Bed Terraced, Walsall, WS2. Yields 6.30%.

A good looking traditional terraced house on the Darlaston Road, Walsall, WS2. It has a decent sized and low maintenance rear garden. Overall it looks like it doesn’t need anything major doing to it. Obviously a closer inspection would be the final arbiter. So, it possibly could be lout out as is. There are two double bedrooms and a single, though the size of the single means you could get a double bed in there, but that wouldn’t leave much room for anything else. Sadly, no photos are on the listing.

There is a Modern style kitchen with space for white goods. The parking is on-road. Located on the main Darlaston Road it is not far from Walsall, Darlaston and Wednesbury town centres.

Listed today with an asking price of £100k and based on a rental of £525.00 pcm will return a yield of 6.30%.

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

Currently on offer with Purple Bricks (0121 721 9601) click here for the full property details and 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: www.walsallpropertyblog.com

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Today’s Buy To Let Deal Tamebridge Walsall WS5 Yields 6.00%

A two bedroom terraced house, Sorell Drive, Tamebridge, Walsall, WS5. Ideal for a buy to let (BTL) investment opportunity. Marketed Bairstow eves (01926 312791) and at a very reasonable £110k 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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Buy To Let Deal Of The Day, 2 Bed Terraced House, Yorkshire Grove, Walsall, WS2. Yields 5.31%

A two bedroom terraced house on a popular newbuild estate approx 1 mile from Walsall town centre, WS2. The property has a very nice spec and is ready to go.

There are one double bedroom and one single bedroom.  A fully fitted modern kitchen, a fair 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.

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Walsall Letting Agent..Corporate or Independent?

Walsall Letting Agent..Corporate or Independent?
Walsall Letting Agent..Corporate or Independent?

Recently I read a really interesting article by Christopher Watkin, renowned property guru, which really made me think about whether landlords and vendors actually know who they are instructing when putting their property for let or for sale and the implications of being unaware of whether one of the large corporate owns your local agency!

I have noted my opinions and thoughts at the bottom of the article..

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Rents in Walsall Increase!!

Rents in Walsall Increase!!
Rents in Walsall Increase!!

I was reading the Sunday newspapers last weekend whilst drinking my favourite concoction of freshly juiced Apple & Mango juice, when I spotted an article in the financial pages.  It was announced that UK inflation had increased to its highest level in a year.  Inflation, as calculated by the Government’s Consumer Prices Index, rose by 0.3% over the last 12 months.  The report said it had risen to those ‘heady’ levels by smaller falls in supermarket and petrol prices than a year ago.  If you recall, in early 2015, we had deflation where prices were dropping!

So what does this mean for the Walsall property market … especially the tenants?

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Has Mr Osborne finally delivered the sucker punch to Walsall landlords?!

Has Mr Osborne finally delivered the sucker punch to Walsall landlords?!
Has Mr Osborne finally delivered the sucker punch to Walsall landlords?!

Ding, Ding!!  Seconds out – Round 8!  George Osborne today delivered his 8th Budget Statement as Chancellor of the Exchequer.  Many consider the number 8 the luckiest of all numbers, and in Chinese culture it is favoured by business due to its association with prosperity, wealth and success.  Although, in boxing terms, not many fighters predict a knock out in round 8.  So, has Mr Osborne finally delivered the sucker punch to Walsall landlords?!

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Stamp duty changes kills the Walsall property market?

 

STAMP

As per my previous article, after receiving numerous calls and emails on the recent upcoming changes to the ‘Stamp Duty’, I feel I have to write about the subject this week…

Our Chancellor of the Exchequer, Mr George Osbourne announced in his autumn statement that from April 2016 investors buying any buy to let property will have to pay an additional 3% stamp duty in addition to the standard rate.  This has caused many landlords to ask the question; whether or not purchasing a property in Walsall will still be a viable option?

So for example, It means that the stamp duty bill for a £150,000 buy to let home will rise from the current £3,000 to £7,500 from April next year.

Stamp-Duty-bands

Many property experts are saying that property in Walsall will be worth less because potential landlords will not be willing to pay as much for them, and if house builders or existing homeowners don’t feel they are going to get as much for them, then there is less motivation to build or sell?… and the person we can blame for this is George himself.  Back in 2012, he chose to utilise the British housing market to kick start the UK economy with subsidies and initiatives such as Funding for Lending and Help to Buy.  However, whilst that helped the Tories get back into power in 2015, some say that this impressive growth in the UK property market has been at the expense of pricing out youngsters wanting to buy their first home.

Others say that this is the straw that is going to break the camels back as, over the next four years, landlords will slowly lose the ability to offset all their mortgage interest against tax on rental income, after changes announced in the Summer Budget.  At the moment, landlords can claim tax relief on buy to let mortgage monthly interest repayments at the top level of tax they pay, typically 40%.  However, over the next four years this will reduced slowly to the basic rate of tax – currently 20%.

So, that’s it then!  Surely this is the end of Buy to Let in Walsall?  Well, it’s not great news is it?  But, before we all run to hills panicking… let me give you another thought.

Although your Stamp Duty bill will rise, George has left a significant loophole in the new rules.  When it comes to selling your investment property, you can offset the purchase costs against any eventual capital gains tax; including stamp duty.

I still firmly believe that total returns from buy to let will continue to outpace other investments, such as the stock market, gilts, bonds and even pensions.  Also, the best part about investing in property is that it is bricks and mortar.  You can touch it, you can feel it, and it isn’t controlled by some City whiz kid in Canary Wharf… the British understand property and that goes a long way!

Buy to let has enough impetus behind it that prospective landlords will continue to buy even with a larger stamp duty bill.  Walsall landlords will need to be savvy with what property they buy to ensure the extra stamp duty costs are mitigated.  Buying buy to let property is a long term venture.  In the past, it didn’t matter what property you bought in Walsall or at what price – you would always make money.  Now with these extra taxes, the adage of ‘any old Walsall house will make money’ has gone out the window.  You wouldn’t dream of investing in the stock market without at least looking in the newspapers or taking advice and opinion from others, so why would you take the same advice and opinion about buying a buy to let property in Walsall?

One source of information, opinion and advice is my Walsall Property Blog; sign up for new articles by email now!

 

Phone: 01922 311016

Email: salekm@ashmorelettings.co.uk