New Stamp Duty Charges announced today, coming into effect from midnight tonight!

If you haven't already heard, today the goverment has announced the following changes to the outdated Stamp Duty charges starting from midnight tonight, see this handy HMRC calculator here for new rates:

http://www.hmrc.gov.uk/tools/sdlt/land-property-results.htm?dates_Transaction=05%2F01%2F2015&moneyResidential=135000&moneyNonResidential=0

These new rates should hopefully save property investors a bit of money, depending on the price you're paying of course!

See governement web page here:

https://www.gov.uk/stamp-duty-land-tax-rates 

Under the new reforms:

• No SDLT payable at all on properties up to £125,000
• The first £125,000 on properties to be free of SDLT
• Then payable at 2% payable on the portion up to £250,000
• Payable at 5% on the portion up to £925,000
• Payable at 10% on the portion up to £1.5m
• Then payable at 12% on the portion over that amount.

2 Bedder in Ampthill for £125k = 5.75% yield

Indigo's had this nice little two bed flat on the market for £125,000 and the details say it was currently renting for £575 per month - that sounds a bit low to me. I reckon the rent could be increased to £600 or £625 per month without too much of a probelm, making a possible 6% gross yield.

Whoever bought this has got a nice little investment in my book!

http://www.rightmove.co.uk/property-for-sale/property-47635145.html

'Right to rent' checks start in West Midlands

Landlords in the West Midlands who fail to check whether prospective tenants are in the country legally will face a £3,000 fine, under a new rule expected to be rolled out across the UK.

So it's looking like all landlords will soon have to check whether a person is legally allowed to rent a property soon, are you prepared for this?

At 1st House Lettings our referencing will include these checks as standard, when (or if) its rolled out nationally, which I'm assuming it will be.

Make sure your letting agent knows about these checks coming soon, otherwise you may face a nasty surprise.

Full story here: http://www.bbc.co.uk/news/uk-england-birmingham-30251741

Property values rise by £434 per week in Ampthill

Last week, a landlord who lives in Ampthill, came in to our office to discuss the rising property values in the local area. He owns a varied portfolio of rental properties, primarily in Ampthill and Flitwick with one in Shefford, so it is interesting to compare the increase in property values around the area.

Over the last 12 months in Ampthill average property values have risen from  £279,400  to £302,000 , a rise of £22,600 or £434 per week. When I looked at some of the surrounding areas, Flitwick has had a slightly lower than average increase in property values, at around £359 per week, whilst Shefford has had a slightly better rise in its average increase of around £394 per week. It is, nonetheless, a rise in all the town’s average property values which suggests the market is recovering steadily in our area, but especially Ampthill and Flitwick– good news for home owners and landlords alike.  Interestingly, when you look at property values over the last 12 months, values in Ampthill and Flitwick have risen by 8.1% whilst in Shefford they have only risen by 7%.

When considering this landlord’s buy to let portfolio, yields can be in the order of an average 4% to 6% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in either Ampthill or Flitwick as property values start to rise.

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please come and see me at our office in the Rufus Centre on Steppingley Road, Flitwick or send me an email to graham@1st-house-lettings.co.uk

Ampthill .. Do Up and Sell On!

These don't come on the market that often, bungalows that need some 'fairy dust' sprinkled on them.

I think this is a real bargain and you don't need to spend that much to get it right.

Country Properties have put her on the market at £235,000.. have a look at the photos on Zoopla (link below).

Act quickly on this one .. I have a good feeling about it

http://www.zoopla.co.uk/for-sale/details/34566231

5% yield on this Buy To let Beauty on Oliver Street in Ampthill

Country Properties put this little beauty on the market a few days ago at £175,000.

No internals, but this will rent for around £700 a month, so we are looking at a 5% yield ... not bad at all!

Here is the link to the property on Zoopla .. I don't think she will be on the market that long ..  http://www.zoopla.co.uk/for-sale/details/34491924

Two bed cluster home in Ampthill - 5.1% yield

http://www.zoopla.co.uk/for-sale/details/34199659#oMZOSatSlcfDPUvk.97

Indigo's are offering this two bedroom cluster home for £165,000 in Ampthill, and I think this would rent for around £700 making a solid 5.1% yield. Added benefits are gas central heating and allocated parking, a good all round investment.

If you're interested I'd make an offer pretty quickly as I don't think it will be around for long!

Bargain basement one bed flat in Flitwick, 7% yield!

http://www.zoopla.co.uk/for-sale/details/33440752#zEA7d7XQ8Ocwwyom.97

This flat might not be the prettiest in Flitwick but it's certainly one of the cheapest! Nice little rental property for someone, and there's always demand for 1 bedders to rent in the area. A short walk from the train station and town centre too.

If this can be picked up for £80,000 or less it would rent for around £475pm, making a nice 7% gross yield. Need to check out the length of the lease, ground rent and maintenance charges, but if thats all ok then its a nice little investment for someone.

If you would like any advise on buying to Let in Flitwick or Ampthill, just drop me a line and I'll be happy to help. Graham@1st-house-lettings.co.uk

Modern flat in Ampthill - 5.64% yield

http://www.zoopla.co.uk/for-sale/details/33331968#Vzy5SiRM123WHZJj.97

This modern two bed flat in the centre of Ampthill is great, it should rent for £750-£800pm in the current market so if you could pick it up for £170,000 thats a possible 5.64% gross yield. This is a modern block of flats with gated access to the private car park at the rear, a bonus for the centre of Ampthill where parking is a pain!

According to the sales details the service charge and ground rent come to £95.41 per month, so this would need to be taken into account. However, investing in Ampthill is a good bet for capital growth in the long term.

If you would like any advise on buying to Let in Flitwick or Ampthill, just drop me a line and I'll be happy to help. Graham@1st-house-lettings.co.uk

Four bed detached house in Flitwick with a 6% return!

http://www.zoopla.co.uk/for-sale/details/16652201#pTMFRV9PCjiyzgEE.97

This four bed detached house in Canterbury Way, Flitwick will rent for £1350 per month, making a decent 6.2% yield if bought for £260,000 or less! I know this property well as I used to manage it for the owners before they decided to sell, it needs a bit of TLC but nothing major. Plus it has a conservatory and an office in what used to be the garage out the back!

It's a pretty good price for a 4 bed detached house, and there's demand for decent 4 bedders in the area. Usually long term lets for families. 

If you would like any advise on buying to Let in Flitwick or Ampthill, just drop me a line and I'll be happy to help. Call 01525 838848 or email graham@1st-house-lettings.co.uk