Buy an investment property in Nuneaton without spending a penny!

With house prices at all-time highs, many homeowners are likely to find they have a good amount of equity in their home (particularly having repaid some of the mortgage over the years).

Even those who bought as recently as five years ago have seen house prices increase 24.2% in Nuneaton (31% nationally).

This, coupled with historically low interest rates, could mean there are ways to increase your exposure to the property market by purchasing a buy-to-let property, without using any of your own money.

Let me explain with an example of a landlord I helped recently (who also took advice from a mortgage broker, IFA and accountant) before going ahead with the plan to invest for their long-term security; without costing them a penny!

They had purchased a house in 2012 for £250,000, with a £50,000 deposit and a £200,000 mortgage. Just five years later, their mortgage balance was £166,000, whilst their home was now valued at £350,000.

This means if they were to re-mortgage their home at its current value, on the same 80% loan-to-value as they had done five years ago, they would receive a surplus of £114,000 above their current mortgage balance. A five-year fixed rate mortgage at this level would come with an interest rate of just 2.1%

In this case, £95,000 of the surplus funds was used as the deposit for a £270,000 buy-to-let property whilst the £175,000 balance was leant by a bank at a cost of £379 per month (2.6% interest-only, fixed for five-years).

With both mortgages fixed for five years they knew exactly what needed to be paid, knew they could afford the repayments on the residential mortgage and that the rent would cover the interest on the buy-to-let mortgage (and give them some money left over each month). They also had £19,000 left to cover the mortgage arrangement fees, stamp duty and legal fees, meaning they paid absolutely nothing to purchase their £270,000 buy-to-let property.

They’ve obviously taken on debt to do this, but with the payments fixed (at record low rates) and a surplus being generated each month from the rent, they are now set to make £2,700 for every percent the property increases in value, at no cost to them.

This is the same principal that I and many other long-term landlords have used; refinancing their rental properties to buy more. I believe there is now an exciting opportunity for a far wider audience to prosper due to the current climate of low interest rates and recent property price rises.

If you’d like to have a chat about how this could work for you feel free to get in touch on 02477 674545 or pop in and see us on Bond Street.

Have you heard about ‘Rent To Own’ in Nuneaton?

When we had someone come into our office a few weeks ago, complete overwhelmed by the prospect of thinking they had to sell their house in order to tie up everything before emigrating, the feeling of being able to take that pressure off them was a good one!
The story goes a bit like this…
Said homeowner didn’t particularly want to sell in order to emigrate as the property was in negative equity. She had only lived there 5 years and by all accounts had paid over the odds for the house. We explained to her that she didn’t have to sell now, nor did she have to rent it out (knowing that she is making a permanent move, it’s a property she wont be returning too) however, she does want to sell the property eventually.
We told her about ‘rent to own’ and how it works. That we would find her tenants who would rent the property for 5 years, knowing that at the end of the 5 years they would be buying the house off her. It’s a no brainer. Tenants move in, knowing the house will be theirs to own in a few years, looking after it in all aspects from cleaning to all maintenance , and paying the set rent per month for 5 years!

Want to know more about how this could work for you?… So many vendors are now choosing this route, and the great thing is, there is an influx of tenants who want to buy, but currently are not in a position too, who are also very excited about this opportunity. Give us a call today on 02477 674545 to find out more!

Landlord Horror Stories


While children are excitedly preparing to dress up as scary mythical creatures ready for Halloween, many Landlords are faced with the far scarier reality of damaged property, rent arrears, disruptive tenants and all the other fears associated with managing their own property.

If you are currently experiencing any of the above issues, please read on. If you are not experiencing any of the above, you may as well read on because sooner or later you will most likely need to read this…

Damaged Property

If you’re anything like me, you’ll spend a lot of time ensuring that your rental property looks clean and presentable for your new tenant. Now, there’s nothing more annoying or upsetting than people not respecting your property or maintaining it to the standard that you gave it to them….am I right? Ok, so rent arrears are probably No.1 but we’ll get to that in a minute.

The last thing you want to do when a tenant moves out is have to deap clean; kitchen, bathroom, carpets…the lot. You also don’t want to have to be spending money re-decorating the whole place again. So, avoid the heart ache and arguments and ensure you do a thorough Inventory before the tenant moves in. Also, make sure you take a deposit (and secure it with a recognised deposit scheme). With these two things in place you can claim the cost from the deposit and use your inventory as proof.

DO NOT- Think “Oh they seem like good people; I don’t need an Inventory or Deposit”. Assume all people are Witches and Ghouls because things can turn ugly and scary VERY quickly!

This is advice from an experienced Landlord…take it, please!

Rent Arrears

This is probably the scariest thing about managing your own property and can quickly turn into a real life horror movie before you know it. If a Tenant doesn’t pay the rent, who pays your mortgage? You of course but it’s a serious financial struggle and, in some cases, an impossibility which leads to very serious financial problems.

ALWAYS- make sure you do full reference checks on your tenants. Be wary of certain situations e.g. someone who says “I’ve been living with parents”. This is sometimes code for “I’ve racked up thousands of pounds in rent arears with my previous landlord and he won’t give me a reference”….funny that!

Insist on rents being paid by standing order and keep on top of rent payments! The second they are a day or two late, get on the phone. If they don’t respond, email them. If they still don’t respond call their next of kin and say that you are concerned because you can’t get hold of your tenant. Etc etc etc

You also have to be incredibly careful with the notices you serve; some have to be served on a specific date, some you can serve at any time but they need to be in 2 months rent arrears, by which time you’re struggling to pay your own mortgage let alone two. And the horror continues.

Disruptive Tenants

Put your hands up if you’ve had one of these….oh come on, get your hand up, I know you’ve had at least one?!

Well these tenants are the equivalent to vampires; only awake at night time and are intent on causing disruption to the entire village!

There should be a clause in your Tenancy agreement regarding noise and nuisance to neighbours. Tenants must agree not to make unnecessary noise which could disturb neighbours.

If neighbours do come to you with a complaint about your noisey tenants, ask them to talk to them about it. If they do not feel comfortable about this you should discuss the issue with your tenant in a calm and reasonable manner.

What to do now?

Although I enjoy writing to you lovely readers and, lets be honest….you’ve enjoyed it, I am also a Lettings and Estate Agent in Nuneaton. Don’t sigh and switch off!

If you are looking for an easier life whereby you kick off your shoes after a long day at work and just sit in front of the fire with your family chilling out, give me a call. We can take care of absolutely everything for you from finding a suitable tenant to collecting the rent, managing the maintenance and even guaranteeing the rent.

No more horror stories for you. We’re more like a fairy tale; after you have a chat with us at QT Homes you’ll feel all warm and fuzzy inside *cheesy smiles*

I hope you’ve enjoyed my article. Please get in touch if you have any concerns or worries about your current tenancy and I’d be happy to have a chat about it.

I look forward to hearing from you 02477674545

Always read the small print!

At a family Birthday party at the weekend, my brother-in-law pointed out the promotion on the pack of a popular crisp snack; “Collect 3 packs and get a free Bluetooth speaker***

Except the *** referred to a host of terms and conditions including the fact you need to pay £3 towards postage. Why not just say “Collect 3 packs and get a Bluetooth speaker for £3!?

And it reminded me of some letting agents’ promotions. 0% management fees to landlords, free management and free this and free that. All with the caveat that it’s only for a certain time frame or that other fees apply, making the saving completely redundant.

The simple answer as to why companies do this is it is attention-grabbing marketing, designed to get people to contact the promoter, who then has one foot in the door.

I feel there is a lack of transparency amongst some letting agents in regards to the fees they are charging (to both landlords and tenants), which was one of the reasons we started QT Homes Lettings in 2013.

Even though it is now a legal requirement for letting agents to publish all their fees to both landlords and tenants on their website and in their offices, many don’t comply and the authorities seem to do nothing about it. Price on application or fees negotiable by property type is not permissible and contracts should be free of hidden nasties tucked away in the small print.

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It was sad to hear recently from two sets of prospective tenants who were shocked to find their previous letting agent was withholding a reference unless they paid them a fee. I believe in the notion of charging a fair and transparent price for a great service and not trying to make a few extra quid in the short-term just because I could.

You can find a full list of our services and fees on our website – www.Qthomes.co.uk.

And that’s my business model – simple and transparent; take on nice properties (there’s lots of these around Nuneaton), choose good tenants (lots of them around Nuneaton too), keep my overheads low and my service levels high.

If you’re a landlord and wish to work with a letting agent who is passionate about providing a good service to everyone at a fair price, without the hidden complexities you sometimes find in the industry, please give me a call.

Nuneaton or Hinckley? Where is best to invest?

Are you looking to invest in property but in 2 minds as to whether to invest in Nuneaton or Hinckley? Well hopefully I can throw some figures at you that might help decide which is the right option for you…

Todays’ house in question will be a 3 bedroom terrace. I will compare 2 properties both done up to the same standards and look at what each house would cost in each town and also what your rental income and annual yield would be from them.

I f we start with Nuneaton: here we have a property that yes, is dated, it would need a fresh coat of magnolia and a new bathroom sweet as a minimum in order to attract suitable tenants. It is on the market for £120,000 with Pointons, in a desired rental location of Nuneaton. I would suggest once said works had been done to the property you could ask a rent of £625 PCM. I would also suggest offering an asking price that would allow you to spend that bit you ‘saved’ on fixing up the property. So, in total, if you were to spend £120,000 on the house including works, and you were getting a rent of £625, your annual yield would be 6.25% for the first year, barring in mind that rents are continually increasing making your expected yield higher also.
property particulars

The same type of property in Hinckley, also dated and in need of some TLC is on the market for £130,000 with Fosse House. Looking at other rentals in Hinckley the achievable rent would be £550- £575 PCM giving you an annual yield of 5.31% at the higher rent rate. I would also strongly suggest making an offer on a property like this that would allow you the money you have ‘saved’ to then do the work needed to fix up the property.

property particulars

Both areas are highly popular for rental, and the way the current market is, any investment in property is a wise one. If you would like to speak to us further about investing in Nuneaton or surrounding areas, please feel free to give us a call on 02477 674545

Star buy of the week in Nuneaton with a 6.5% yield

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Its been a while since I’ve found and spoken about a star buy in Nuneaton, mainly because no sooner do they get advertised..they are then SSTC!

However, whilst looking on Rightmove this morning, I did find this 3 bedroom semi-detached property on hill top in Nuneaton, with an asking price of £120,000. The property is currently on the market with Foster Lewis and Co.

Property Particulars

With a property like this you could expect to receive a rent of around £650 PCM which would give you an annual yield of around 6.5% with rents increasing all the time giving this the potential to be even higher.

The house is situated ideally for commuters as well as families looking to get their children into the catchment area schools.

The best thing about this property is you would literally have to do nothing to it in order for tenants to move in, the house has clearly been newly renovated so it would be good to go.

If you would like to speak to us about this property and our lettings management services we offer, please feel free to get in touch on 02477 674545. We look forward to speaking to you.

Why invest in Nuneaton?

After a really interesting morning of Networking with the Nuneaton and Bedworth Business Support Expo, I really wanted to share with you several reason why I personally think Nuneaton is a lot more appealing in terms of property investment than people realise.

Speaking at the Expo were Terry Spall, Commercial Director for MIRA Technology park Ltd on the A5, As well as Lisa Garley Evans, General Counsel and Chief Compliance Officer at Holland Barrett (Head Office in Nuneaton) amongst other very informative speakers on the regeneration and improvement of Nuneaton as a whole.

Both Mira and Holland Barratt are International companies, and are literally on our doorstep! Both companies have had Billion pound investments in order to expand further, meaning, more and more jobs are being generated for the area! Currently Holland and Barrett have 60 jobs available at their head office, and in the past few weeks held a job expo where over 200 people turned up interested in working for them. MIRA and H&B alike will have jobs suitable for local people and also people looking to relocate, even those who are currently commuting from places like London will soon see the sense in Moving to Nuneaton simply for the cost of living being substantially less!

This aside, Nuneaton will always be a hot spot for renting, especially your typically 2/3 bedroom terrace property- they will never have large void periods, ( experience tells us this) but people with slightly more desirable properties or those looking to invest in similar properties shouldn’t be deterred. There are re-location agents who contact us regularly asking us to keep them informed of these types of properties for tenants who will be moving from all over Europe just to come and work in a specialised field at companies such as MIRA. Again, experience has shown us that said properties have never been an issue to rent out – families/working professionals and relocators alike seeking 3/4 bedroom semi detached family homes in the more affluent areas of Nuneaton.

If you are looking to invest, or similarly have rental properties in Nuneaton, please feel free to give us a call or pop in and see us on Bond Street. We are always happy to meet like minded people. Property is a great game to be in, but…you have to be in it to win it!!

We, at QT Homes, have now gone into sales! We will sell your home for £695.

Melissa and I are delighted to let you all know that we have now also gone into sales as well as lettings!

It was a natural progression for us and our business- QT Homes- and since we started a few weeks ago we have already successfully marketed and sold 2 properties, and are currently marketing our third property in Bedworth.

We cover Nuneaton, Bedworth, Hinckley and this side or Coventry, as well as Atherstone and surrounding areas.

If you, or anyone you know, are interested in Selling their property, we do offer a £50 recommendation (upon completion) to anyone you pass our way.

It couldn’t be easier. Just give us a call and we can talk you through what we offer. Our sales package is £695(no VAT) which is paid upon completion.

We look forward to hearing from you and offering you our friendly, professional service.

Nuneaton Buy-to-let is still lucrative investment despite Government Measures


Oh my, oh my, if I had a fiver for every landlord we’ve had on the phone or in the office, drowning their sorrows (in a lovely cup of tea that I made) over the recent tax changes as well as tenant fee ban and anything else the government has thrown at them in the last year or so, I would be sunning myself in Barbados right about now instead of writing for you lovely people.

Those of you who are familiar with the blog will know what super fans we are of investing in property and how, we believe, there’s no better place to invest your well-earned pennies.

For a long time now the buy-to-let market has yielded fantastic returns for all those brave enough to take the leap into the world of property investment and it has beaten all major asset classes in the last five years, hands down!

Yes, I know the Government have gone all psycho loco on Landlords and think that we’re the Devil but, despite the tax changes, investors will still be able to gather pretty good returns. Yes, the days of 7+% yields may be out the window but, according to research carried out by the Centre for Economics and Business Research (who did research into the BTL market on behalf of UK retail and Commercial bank), you’re still looking to get a pretty healthy return so, do not despair.

Word on the grapevine is that the biggest gains for investors will be from profitable growth and it predicts that the UK home average price will have increased by 59% by 2027 against 2016’s level. You may think 2027 is far away but, it’s only 10 years! You may have a few extra grey hairs and wrinkles but you’ll be able to spend the profit from your investment on rectifying those physical signs of aging and have plenty left over.

Not only do you get a good profitable growth, you also have an increased demand in tenants to look forward to. It’s estimated that private rented residences will rise from 21% (2016) to 28% by the end of 2027 (The Office for National Statistics predicts the UK’s Population to rise by 4.4 million over the next 10 years reaching 70 million in 2027).

Investors ask me is it safe to invest in property. The analogy I use is that if you were to go to your bank for a loan, they would go through the formality of asking you what it was for. If you then proceed to tell them it was to buy stocks, in the stock market there probably going to smile politely, tell you they can’t help and then boot you out the door. BUT, When you go and say you’re investing in property, they will gladly continue with you, as they know property is a safe investment for them, which is not the case with stocks and shares.

If you’re prepared to ride the storm and feel strong in your position as a landlord, I say, keep going because it will be worth it.

If you have any concerns or questions relating to your Nuneaton property investment(s) please feel free to give us a call. There’s no question too big or too small.

If you’re finding your Nuneaton property investment stessful but you’re not ready to sell, why not give us a call and ask how we can help you manage the property for you. If you’re not ready to give us a call, feel free to visit our website www.qthomes.co.uk for more information.

Our first question to you, if you come and see us, is “What would you like to drink”. You’re always welcome to pop in and have a chat so, make the most of it. Look forward to seeing you soon.