First time buyers surges as more plan to leap onto the property ladder

ladder to the skyThe number of first time buyers jumping onto the property ladder has hit levels not seen since the peak of the last property boom. The latest figures from the Council of Mortgage Lenders (CML), show that the number of mortgages offered to first time buyers is up by 33% on the same time last year, whilst total lending to first timers is up a massive 48% on this time 12 months ago. The number of first ...

Average rents near record levels, as 1 in 3 council tenants fall into arrears

iStock_000001437287_ExtraSmallRecently released figures show average rents are just £1 off a record high, whilst council tenants are struggling to cope, following the introduction of the so-called ‘bedroom tax’. The buy to let index, compiled by LSL Property Services, shows average rents rose to £743 per month during the month of August, just £1 short of a new high. Compared to July rents were 0.7% higher, but were only up 1.3% on the same time last year; well ...

Buy to let: Renting to students “offers highest rental yield”

Tiny Houses 2As students head back to university and investors look for attractive returns, new research has shown that students can make the best type of tenants for buy to let investors. The research, conducted by the National Landlords Association (NLA), shows property let to students offers an average gross rental yield of 6.7%, much higher than the UK average of 6.1%. At the same time Houses of Multiple Occupation, or HMOs, for short, where a single property is ...

23 years to save for a house deposit? It really could take that long

iStock_000002419188XSmallA financial provider has revealed it could take tenants more than 20 years, to save the money required to put down as a deposit on their first house. Too Expensive Scottish Widows, who conducted the survey, discovered the average renter will save around £2,000 a year towards a house deposit. This means that it could take a whopping 23 years, to save the average £50,000, required to make the down payment on their first house. The survey, which involved ...