{"id":135,"date":"2010-05-05T08:16:18","date_gmt":"2010-05-05T08:16:18","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=34"},"modified":"2010-05-05T08:16:18","modified_gmt":"2010-05-05T08:16:18","slug":"tenant-trends-shifting","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/tenant-trends-shifting\/","title":{"rendered":"Tenant trends shifting"},"content":{"rendered":"<p>\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e\u203e<\/p>\n<p>The amount of consumers opting to rent living accommodation is now surpassing the number of rental properties available and landlords are now beginning to extend their portfolios in a bid to supply the new demand.<\/p>\n<p><strong><span style=\"font-weight: normal;\"> <\/span><span style=\"font-weight: normal;\">\u201cThe shift, which is mainly due to the unstable economic climate, slow recovery of the property market and the difficulty which consumers find in obtaining high street mortgages, gives rise to the increase of renters rather than owners\u201d, according to Sim Sekhom, of Legal for Landlords.\u00a0 \u201cWe have seen a major increase of enquiries regarding legal services ranging from landlords with single properties to those with large portfolios, which reflects the current shift in the lettings v ownership trend\u201d.<\/span><\/strong><\/p>\n<p><span style=\"font-weight: normal;\"><strong>This trend appears to be backed up by research from the Housing Intelligence Group \u2018Hometrack\u2019.\u00a0 New buyers rose by only 3.3% during March 2010, while estate agents in England &amp; Wales reported an increase of 5.6% of properties for sale.<\/strong><\/span><\/p>\n<p><span style=\"font-weight: normal;\"><strong>Following this shift, a number of private banks have emerged offering the experienced Landlord new Buy-To-Let lending.<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"font-weight: normal;\"><strong>The First Bank of Nigeria will lend      between \u00a32.5m &amp; \u00a325m, allowing an advance up to 60 per cent, LTV at a      rate of around 4 per cent, with a 2 per cent fee.<\/strong><\/span><\/li>\n<li><span style=\"font-weight: normal;\"><strong>Clydesdale Bank offer a B-T-L      mortgage with a 5.99 per cent, 2 year fixed rate deal, with a \u00a31,499      fee.\u00a0 Requiring rents to cover      mortgage repayments by 130 per cent and will advance up to 70 per cent\u00a0 LTV.\u00a0      Maximum loan is \u00a3500,000 and offers free valuation and legal fees.<\/strong><\/span><\/li>\n<li><span style=\"font-weight: normal;\"><strong>Coventry      Building Society have a 3.85 per cent loan with up to 60 per cent LTV,      offers over repayment facility and payment holidays, free valuations up to      \u00a3680 and free legals on remortgages.\u00a0      Minimum loan is \u00a325,000.<\/strong><\/span><\/li>\n<li><span style=\"font-weight: normal;\"><strong>Natwest      offer a 4.99 variable loan up to 75 per cent LTV.\u00a0 The arrangement fee is \u00a31,999 with free      legals and an overpayment facility.<\/strong><\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: normal;\"><strong>It is yet undecided what effects this will have on rents if this increase of tenants, rather than owners persists.<\/strong><\/span><\/p>\n<p><span style=\"font-weight: normal;\"><strong>By<br \/>\nMadalena Penny<\/strong><\/span><\/p>\n<p><strong> <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The amount of consumers opting to rent living accommodation is now surpassing the number of rental properties available and landlords are now beginning to extend their portfolios in a bid to supply the new demand.<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - 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