Charwin Buy-to-let

Charwin Buy-to-let Not all Buy to Let Brokers have the range of experience or expertise Charwin provides. Call us today on 01603 216881

08/06/2022

The popularity of holiday-lets has continued to rise, fuelled by the staycations boom.

We continue to see a substantial increase month on month in holiday-let lending since 2019.

During the course of the pandemic may customers opting to purchase second homes for their own personal use, alongside letting them on a short-term basis for lucrative yields.

There has been a flurry of lenders who have recently started supporting the market to confirm this is viewed as a growth area.
The dynamics of the market are also changing.

Historically lending in areas such as Devon, Cornwall and the Lake District was the choice, but are now seeing a lot of activity in larger cities, particularly across the North of England, where short term lets can accommodate weekend breaks now that restrictions have eased.

The ability to use for personal purposes is also really appealing along with the accounting and tax advantages over regular buy to lets.

Latest Private Landlord report published. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/att...
26/05/2022

Latest Private Landlord report published.https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1078643/EPLS_Headline_Report_2021.pdf

20/04/2022

Tenant demand hits an all-time high confirming that investment property remains a strong market for existing and prospective investors.

The proportion of landlords reporting increasing tenant demand reaches an all-time high of 62%.

Current industry research has revealed that the strong tenant demand seen during last year has continued into 2022 after growing to the highest level recorded since 2011.

Figures for the first quarter of the year suggest that numbers of people seeking privately rented homes have grown consistently throughout the course of the Covid pandemic.

The 62% of landlords who reported increasing tenant demand in Q1 2022 is double that of the same period a year ago and almost four times the level reported in Q1 2020 when only 16% of landlords felt that demand was growing.

As part of the most recent research, over 700 landlords were asked to assess tenant demand over the previous three months.
A ‘significant increase’ was seen by over a third, 34%, of respondents, with a further 28% reporting slight increases.

Perceived decreases in tenant demand, both significant and slight, were recorded by just 3% of landlords, the lowest on record.

As the appetite for Holiday Lets as investments continues to increase, The Cumberland Building Society has brought back ...
06/07/2021

As the appetite for Holiday Lets as investments continues to increase, The Cumberland Building Society has brought back its two-year fixed rate holiday let mortgage.

The product has a rate of 3.84 per cent and has a maximum loan to value (LTV) of 75 per cent.

The move comes after the building society cut rates in June on loans over £750,000 for its holiday-let range as it anticipated market growth due to increased holidays in the UK.

The building society will lend up to £2m on an individual transaction and up to £5m for aggregate borrowing across a portfolio of properties.

Their holiday-let products are available for occupancy-restricted property and larger portfolios in mainland UK, and the Isles of Anglesey, Arran, Mull, Skye, Lewis, Harris and Wight.

26/08/2020
80% BTL rates are now back on the market. Question is for how long?
30/07/2020

80% BTL rates are now back on the market. Question is for how long?

Stay ahead of the curve. Get the best insights and mortgages from Charwin Buy to Let. Call 01603216881
17/07/2020

Stay ahead of the curve. Get the best insights and mortgages from Charwin Buy to Let. Call 01603216881

Holiday lets – A more profitable alternative to BTL? Reductions in the hospitality sector, travel bans, limited air trav...
11/07/2020

Holiday lets – A more profitable alternative to BTL?

Reductions in the hospitality sector, travel bans, limited air travel and, indeed, fear of catching the virus itself will severely limit UK citizens’ desire to travel abroad.

Considering the continued unpredictability around overseas travel, there is strong evidence to suggest that UK holidaymakers will look to stay closer to home this summer and beyond.

Prime opportunity

We have experienced a noticeable surge in holiday let inquiries since the pandemic began. At a time where people wish to minimise contact with others and journey to more remote parts of the country, this is a prime opportunity for the holiday let market.

In fact, Holiday-lets had risen in popularity even before the pandemic hit. Increased taxation and regulation around buy-to-lets had led buyers to transfer their attention to holiday-lets for alternative sources of income.

Additionally, the popularity of websites such as Airbnb & Travelnest have increasingly led to a global demand for self-catered accommodation.

Rise of staycations

A survey from Lastminute.com showed that 33 per cent of British people intended to remain in the country this summer. Depending on how long the pandemic continues, there is evidence to suggest this could be part of a far longer trend.
The lack of opportunity for a foreign holiday has led Brits to consider the wealth of vacation opportunities within the UK.
Lastminute.com has said the hotel booking trends showed a 45 per cent week-on-week increase for the UK and particularly for London, Manchester, Blackpool and Bristol during summer and autumn.

The fact that booking interest extends beyond the summer suggests the staycation trend will not be confined to the warmer months.

Another site has reported a significant increase in holiday lodge bookings for the summer with its Norfolk Broads bookings up 28 per cent year-on-year, a trend likely to increase even further as a result of the pandemic.

Indeed, in mid-June it said internet searches for lodges in Norfolk had increased by 21 per cent and in Suffolk by 30 per cent since the government eased certain restrictions.

Holiday lets, a more profitable option?

The Holiday Lets we are arranging are creating a net yield to the owners that far exceeds the traditional BTL alternatives, even net of agents costs and other allowable expenses.

The accounting and taxation for furnished holiday lets is not the same as regular BTL property and may prove favourable in many cases.

Then there are also the lifestyle benefits. The ability for the owner to use the property for personal use for a number of weeks per annum meaning that not only do you get to check the property, you also gain a well-earned break.

Stamp duty cut is being extended to second homes and BTLThe stamp duty cut announced in today’s budget is great news for...
08/07/2020

Stamp duty cut is being extended to second homes and BTL

The stamp duty cut announced in today’s budget is great news for aspiring BTL landlord and the rules apply to those buying second homes as well as buy-to-let properties.

Government documents published following the Chancellor’s speech this afternoon state that the tax relief for properties worth up to £500,000 will apply for those buying a first or subsequent property.

However, the 3 per cent surcharge for buying additional properties will apply in addition to the new standard rates.
Therefore, for purchases in addition to a first home, just 3 per cent will be paid for properties valued at up to £500,000, as opposed to the 5 per cent paid before the adjustment.
After that, rates will apply as follows:

The next £425,000 (the portion from £500,001 to £925,000) 8%

The next £575,000 (the portion from £925,001 to £1.5 million) 13%

The remaining amount (the portion above £1.5 million) 15%

The relief will also be applicable for properties to which inheritance tax applies.

The government says: Companies as well as individuals buying residential property worth less than £500,000 will also benefit from these changes, as will companies that buy residential property of any value where they meet the relief conditions from the corporate 15 per cent SDLT charge.

More positive signs for our panel recovery with Accord relaunching product ranges at 80% LTV for both purchase and remor...
03/06/2020

More positive signs for our panel recovery with Accord relaunching product ranges at 80% LTV for both purchase and remortgage.

Accord now returning to offering its full range of LTV products following the forced changes at the end of March.

New purchase products at 80% LTV include a two-year fixed rate at 2.89% and a five-year fix at 3.25%, both with a £950 product fee, free standard valuation and £500 cashback.

For remortgage, 80% LTV products include a two-year fixed rate at 2.76% and a five-year fix at 3.20%, both with a £950 product fee, free standard valuation and either £250 cashback or Accord’s remortgage legal service included.

New 1% BTL rate!From tomorrow, we will have access to The Mortgage Works new one-year fixed rate buy-to-let product.Exis...
03/06/2020

New 1% BTL rate!

From tomorrow, we will have access to The Mortgage Works new one-year fixed rate buy-to-let product.

Existing landlords looking to transfer to a new product can opt for the new one-year fixed rate mortgage, which is available at 1.00% up to 65% LTV with a 2% product fee.

The new product marks the lowest fixed rate ever offered by TMW.

This product is available through our Adviser team. Get in touch on 01603216881 with any Buy to Let enquiries you may have. Our range of products cover standard BTL, holiday homes, bridging, refurb and development.

Average UK rents in the private sector increased by 1.5 per cent over the year to April, the latest figures from the Off...
20/05/2020

Average UK rents in the private sector increased by 1.5 per cent over the year to April, the latest figures from the Office for National Statistics show. The annual growth rate was up from 1.4 per cent in March.

Rents were up by 1.5 per cent in England, 1 per cent in Wales and 0.7 per cent in Scotland. In London rents grew by 1.3 per cent year on year.

It comes after the Royal Institution of Chartered Surveyors’ April survey showed a sharp decline in tenant demand and a fall in landlord instructions.

Looking at long-term trends, the ONS reports that between January 2015 and April 2020, private rental prices in the UK have increased by 9 per cent.

Separate figures from the ONS today revealed that house prices increased by 2.1 per cent in the year to March before lockdown put the market on hold.

We can run reports for customers highlighting yield “hotspots” helping to maximise the return on your investment as well as many other useful insight reports locally, regionally or nationally.

We are starting to see 80% LTV BTL rates coming back to market. Encouraging signs from lenders.
20/05/2020

We are starting to see 80% LTV BTL rates coming back to market. Encouraging signs from lenders.

Accord Mortgages and Virgin money have resumed residential lending up to 90% LTV. Whilst this is a positive sign from the lenders, we still need to see a relaxing of internal scorecards (bespoke systems used by lenders to approve mortgage applications). These have been significantly tighter since the lockdown commencement and their easing to pre-lockdown levels will be the real indication that lenders are back in business.

From today, Accord will accept residential house purchase and remortgage applications up to 90% LTV, new build purchases up to a maximum of 85% LTV and Help to Buy applications up to 75% LTV.

Accords competitively priced products at 90% LTV include two-year fixed rates from 2.32% and five-year fixes from 2.43%, both with £500 cashback and free valuation.

New Help to Buy products include a two-year fixed rate at 1.93% up to 60% LTV with a £495 fee, £500 cashback and free valuation, as well as a five-year fix at 1.99% up to 75% LTV with a £995 fee, £750 cashback and free valuation.

Virgin Money have also announced that its lending brands, including Clydesdale Bank, are launching a wider range of products supported with a mix of physical and non-physical valuations from next week.

Residential mortgages up to 90% LTV and buy-to-let mortgages up to 80% LTV will be available and temporary limits on loan sizes and property values will be withdrawn, meaning there will be a return to previous maximum loan sizes. Both Virgin Money and Clydesdale Bank will also be able to help with large loans, shared ownership, professional and new build cases.

As always, we have access to these products as well as the rest of the UK mortgage market and can get you a fast mortgage agreement, usually within 2 hours.

Paragon Bank have launched attractive new Portfolio rates that landlords can benefit from on individual self-contained p...
14/05/2020

Paragon Bank have launched attractive new Portfolio rates that landlords can benefit from on individual self-contained property as well as HMOs and multi-unit blocks.

A great opportunity to refinance existing funding, commercial loans or bridging exit.

You can reach us today on 01603 216881

The timing could be good to be looking at getting in to the BTL market or adding more to your existing portfolio?
14/05/2020

The timing could be good to be looking at getting in to the BTL market or adding more to your existing portfolio?

The Royal Institution of Chartered Surveyors' (RICS) latest residential housing market survey suggests it will take at least nine months for property sales to fully recover to their pre-coronavirus crisis levels.



This could be a reasonable opportunity for the buyer market and BTL investors to buy property at a reduced price, taking advantage of the expected slump in property prices.

The window of opportunity may be short lived though as RICS said that it is likely house prices will fall at least four per cent in the next few months, with a full recovery taking almost a year.

The survey of valuers was conducted before the news broke this week of the housing market being allowed to re-open by the government and the subsequent early surge in enquiries so sentiment may have changed slightly.

After three months of house price growth to start the year, a net balance of RICS members believed prices had fallen in April.

Survey respondents also believed the government should be incentivising the market with 62 per cent saying a stamp duty holiday would see sales recover quicker.

RICS commented that unsurprisingly, there were continued significant declines in new buyer enquiries and new instructions over the course of the month, with the instructions net balance the weakest since it began in April 1999.

Good news for BTL purchases in England.
13/05/2020

Good news for BTL purchases in England.

The property markets in England are back and gearing up for resuming normal business following government plans to restart England's housing market. The industry has effectively been shut since the coronavirus lockdown.

Not such great news for Wales, Scotland and Northern Ireland though as they remain shut. Home viewing are not permitted in these areas and their land registries remain on either reduced services or not registering transactions at all.

Estate agents can now open, viewings can be carried out and removal firms and conveyancers can restart operations.

The Housing Secretary said the changes must be carried out under social distancing and safety rules.

It is estimated there are 450,000 buyers and renters with plans on hold due to the Coronavirus lockdown.

Great news for Property Investors looking to refinance or buy additional property.
12/05/2020

Great news for Property Investors looking to refinance or buy additional property.

Following the recent Government guidance, surveyors are planning to resume visiting properties to undertake physical valuations. Whilst there will be an expected 2-month backlog to work through, it is good news for the mortgage and loan market.

Physical valuations have ceased since the outbreak of Covid-19 and their return is very welcomed by people looking to move, refinance their homes or BTL property or buy their first property.

The guidance for working in other people’s homes and applies to a number of home workers, including surveyors.

The guidance still recommends that businesses should "make every reasonable effort to enable working from home as a first option" and find digital or remote alternatives to physical work where possible.

However the government will now allow home visits where digital solutions cannot be found, as long as workers follow social distancing guidelines.

Some BTL rate reductions from TSB - all available through our Broker Services
12/05/2020

Some BTL rate reductions from TSB - all available through our Broker Services

New TSB rates are now available for residential and buy-to-let purchases as part of the Lenders product overhaul, which included cutting some residential rates by up to 0.25 per cent.

Available through Charwin via the Lender are a series of products to widen its 80 per cent loan to value (LTV) residential purchase offerings, including two-, three-, five- and 10-year fixed rate deals.

The two-year fix with a £995 fee is available at 1.44 per cent, a three-year fee-free is at 1.89 per cent, a five-year fix with £995 fee is 1.74 per cent and 10-year fee free with five-year early repayment charges is 2.84 per cent.

The two-year tracker at up to 80 per cent LTV has a £995 fee and is available at 1.59 per cent.

In the 75 per cent LTV space, products have seen rates trimmed by up to 0.25 per cent.

For the property investors, we have access to two, three, five and 10-year fix rate purchase products at up to 75 per cent LTV.

We have access to The Mortgage Works new range of no-fee mortgage five-year deals, as part of the changes to its product...
07/05/2020

We have access to The Mortgage Works new range of no-fee mortgage five-year deals, as part of the changes to its product our offering.

The Mortgage Works is the Buy to Let arm of Nationwide Building Society. They are also reintroducing two-year trackers with rates starting at 2.39 per cent at 65 per cent loan to value.

The no-fee range is available between 65 and 75 per cent LTV and features rates from 2.39 per cent fixed for two years or 2.79 per cent fixed for five years.

The new five-year deals are available at 50 per cent LTV, with rates at 1.69 per cent with a £1,995 fee or 1.94 per cent without a fee.

More progress at the same time with rates have been trimmed on select limited company and further advance deals.

We are here with access to the whole of the BTL market and ready to help you with your mortgages, as well as a range of industry leading tools and reporting that keep you in the know.

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About Charwin Buy-to-let

We have all the expertise you need. Whether to buy personally, proportion out equity with a spouse or partner to utilise their tax allowances, set you up a Special Purpose Vehicle (SPV) or even buying through a limited company, we have the answers. We will guide you through every aspect from rental stress testing to lender selection.

Our market position is ideal as we have access to almost all the major banks and building societies as well as the lesser known and provincial lenders. This means we can look at what your bank will offer you and compare it to what else is available. If staying with your bank is the best option, we can switch your rate free of charge without the need to visit a branch or have lengthy in depth interviews.

Our services do not end with arranging your mortgage. We can also arrange Defaqto 5 star Landlords insurance at a low pricing.

Not all Buy to Let Brokers have this range of experience or expertise. Call us today on 01603 216881 or arrange a call back.