November Newsletter: Has property demand shifted from buying to renting?
It’s been an uncertain few months in the housing market. Everyone’s talking about inflation right now, and usually in negative terms. The current climate of rising prices is affecting us all, from filling up the car to doing the weekly shop & keeping the heating on. There’s also plenty of news about tenants and buyers feeling the squeeze.
With that in mind, this months edition of the Fish Need Water Newsletter is all about how we can assist you in negotiating these uncertain times.
Here’s what we’ve got for you:
For landlords: Rental Recovery: What can you do when your tenant pays their rent late or leaves with arrears?
For Sellers: Interest Rate Rises: How to Keep your Sale or Remortgaging Plans on Track
Property Industry Eye: Property demand shifts from buying to renting amid high mortgage rates
RENTAL RECOVERY: WHAT CAN YOU DO WHEN YOUR TENANT PAYS THE RENT LATE OR LEAVES WITH ARREARS?
Arrears – a dreaded word among landlords and, for anyone with even a mildly British temperament, an often uncomfortable situation to discuss and resolve.
We’re fortunate enough to have very few tenants behind with their rent, but we also know the current economic climate could throw anyone’s finances off-course.
As the cost of living crisis bites, household budgets are getting squeezed, and rent arrears are more of a threat. It may never affect you, but if your tenants do stop paying their rent, you need to act quickly to prevent the situation from spiralling out of control. Click HERE to read all about protecting yourself, getting your late rent paid and takign steps to mitigate the repercussions.
INTEREST RATE RISES: HOW TO KEEP YOUR SALE OR REMORTGAGING PLANS ON TRACK
There’s plenty of uncertainty and nervousness right now. The media is battling it out to write the scariest headlines of an imminent price crash and soaring interest rates, but there isn’t a newspaper, market analyst or financial expert who knows the future of the property market. So whether you’re remortgaging your home, looking to sell or even if your buyer’s mortgage offer has expired, we’re all about helping you keep your plans together. Click HERE to read more on the steps you can take for keeping your sale or remortgaging plans on track…
PROPERTY DEMAND SHIFTS FROM BUYING TO RENTING AMID HIGH MORTGAGE RATES
“Demand is rising in the rental market as some would-be buyers pause to see what happens with mortgage rates in the new year, the latest data from Rightmove reveals.
The number of people enquiring to letting agents to move in the rental market is up by 23% compared to last year, which leaves the total number of people looking to move in either the sales or rental market just 1% below last year’s levels.
There are signs that mortgage rates and availability are beginning to settle following a turbulent two months, with indications they could drop further next year. The data suggests that this is leading to some aspiring buyers looking at the rental market as a short-term alternative while they wait to see where mortgage rates will go.” – Property Industry Eye
Click HERE to read the full aricle.
What’s your next step?
Regardless of economic climates, demand for rental homes consistently exceeds supply and assures their status as long-term investments.
If you’re a landlord and you’d like some advice, why not get in touch? Call Anthony on 020 3199 3439 or email him at firstname.lastname@example.org
If you’d like to talk about the value of your home or how you can maximise your chances of moving, why not get in touch? We’d love to answer your questions and hear about your plans. Give James a call on 020 3199 3439 or email James directly at email@example.com – we’re here to help you make the best decision for you, whether that’s selling up or staying put.