Record number of deals for first-time landlords

British landlords have seen many changes to the Buy-to-Let sector in recent years, some of which have driven some landlords to sell up. From the tenant’s fees bill, stamp duty surcharge and stricter affordability testing it’s been enough for some landlords to leave the market and look for alternative investment opportunities.

But what about first-time landlords? Is it all doom and gloom? Is it worth purchasing your first Buy-to-Let property when seasoned landlords are leaving the market?

If you’re thinking about purchasing your first investment property and becoming a landlord for the first time then right now may be a good time to consider your options. The number of deals available for first-time landlords has reached a record high, according to figures from Moneyfacts.

Over the past five years the number of Buy-to-Let mortgage options on offer for potential first-time landlords has more than doubled. In 2014 there were 645 deals on offer – compare that with a massive 1,405 deals that are available today! Providers are continuing to offer a wider selection of products amidst the current uncertainty in the property market.

In the past year alone, product numbers have increased by 137 and two-year fixed rates now start below 1.5%, Moneyfacts states. As well as this, for those of you who would be looking to fix your rate for longer, you could benefit from a significant improvement in rates over the past five years. The average five-year deal for firsttime landlords has fallen by 1.16% since July 2014, down from 4.68% to 3.52% today.

This is why, when thinking about purchasing your first investment property and becoming a first time landlord and being faced with so many options and having a host of different products available, seeking professional advice can be invaluable.

*Average deals and rates available correct as of July 1st

If you’re thinking of becoming a first-time landlord and want to discuss your options, contact one of our advisers today.

Protection: do you know what it means?

Life insurance and critical illness cover, do you understand the jargon or are you confused by the industry terms?

Research by Legal & General has revealed that most customers are confused about the language used for protection products. Legal & General surveyed 2,000 people, and found that many consumers didn’t know what was meant by protection.

The survey found that only around one in 10 people associated the term ‘protection’ with life or critical illness cover, whereas some 40% assumed it related to protection against physical harm or protective clothing, while 19% of people did not associate the word with anything at all.

Protection is a term used when talking about critical illness cover and life insurance in the sense that it can financially protect you and your loved ones in case the worst were to happen. This type of protection can be invaluable.

If you’re diagnosed with a critical illness and can’t work, do you know what you’re entitled to from the state? How will you keep up your mortgage payments? If the worst were to happen, would your family be financially stable? These are the questions you must ask yourself!

Just over half of those surveyed by Legal & General did not have any life insurance or critical illness cover in place yet two thirds said they would be willing to pay between £10 and £20 a month for cover.

Seeking professional advice when looking for protection is important; your adviser will be able to find the cover that is best for you and your individual circumstances, as well as talk you through the industry jargon!

If you’d like to discuss your protection needs, contact one of our advisers today.

Mortgage Administrator Apprentice

We are looking for a Mortgage Administrator apprentice to join our small busy team, learning all aspects of working in an office environment whilst studying towards your Business Admin Qualification.

You will be working towards your L2 Business Admin apprenticeship by assisting in a range of duties relevant to your studies. You will also be set aside time to complete your learning.

Duties include:
Answering phone calls, email enquiries and greeting any clients that have appointments in the office or are dropping of documents that need to be photocopied.
Checking various documents, then packaging the documents to upload to mortgage lenders and email solicitors.
Upload documents to our back-office system to complete mortgage files.
Phone solicitors and mortgage lenders to check the progress of cases.
Enter messages and queries on diary system to update mortgage advisers and clients.

Will pay minimum of minimum wage based on age, not the apprentice rates – this will be reviewed after 2 months.

Working Week:
Monday to Friday- 9AM to 5PM
40 hours per week including 1 hour for lunch- we have small staff room.

Possible permanent position upon completion of apprenticeship. Please send CV and covering letter to julie@warrenifa.co.uk.