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First Time Buyers
landlord insurance policy
rent guarantee insurance
buy to let investors
Buy to let is hotter than ever before in the UK, as commentators talk not only of the vast number of people forced into renting by credit conditions, but often of generation rent. The average age for a Brit to buy his or her first house without any assistance from parents is now 37. With just 543,000 mortgages approved last year, compared to 2007's total of 1.013 million, and the still-difficult employment conditions forcing many to move around for work, this figure looks unlikely to be falling anytime soon.
So, more tenants means more landlords, and indeed the private rented sector is becoming increasingly important to UK housing as time goes on and not only more people rent but we all live longer and work longer also. As a result more and more investors, from the biggest institutions to the smallest armchair are flooding investment into buy to let properties around the UK. This guide is predominantly for the latter.
Who are they and what do they want? If they are students, it needs to be easy to clean and comfortable but not luxurious. If they are young professionals it should be modern and stylish but not overbearing. If it is a family they will have plenty of their own belongings and need a blank canvas.
Remember that allowing tenants to make their mark on a property, such as painting, or adding pictures or taking out unwanted furniture makes it feel more like home - these tenants will stay for longer, which is great news for a landlord.
Average rent (monthly)
Average rental gross yield
3. Kingston upon Hull
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*This page is provided for information purposes only and should not be construed as offering advice. IPIN is not licensed to give financial advice and all information provided by IPIN regarding real estate should never be treated as specific advice or regulations. This is standard practice with property investment companies as the purchase of property as an investment is not regulated by the UK or other Financial Services Authorities.