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A successful Investor Webinar

Industry experts from Knight Frank, the Mortgage Advise Bureau and Barratt London gave a good insight into current market conditions for investors.

Missed the webinar? You can watch it below

Your questions have been answered by the experts

What are the tax implications for UK e.g. capital gains? 
This will be dependent on your personal tax circumstances and a tax adviser can assist with this.

Why are the lenders so keen on buy to let? What is driving this increase in appetite from the lenders? 
With less lenders returning to the higher loan to value residential mortgages they are utilising these resources to buy to let.

Can you explain the process of re-mortgaging the Help to Buy? 
It is dependent on the individual. Speak to one of the team at Mortgage Advise Bureau we can run through your options.

I live in Florida and my income is coming from here. Can I get a mortgage in the UK, will lenders in the UK offer mortgage financing to overseas buyers? 
Yes they will.

My daughter will be turning 18 in December would i be able to buy a property in her name?
Yes this is possible.

If a foreign investor wishes to purchase a property in the UK with full cash do you provide any assistance with that? 
Yes we can. Please contact the Mortgage Advise Bureau to talk through your financial options.

Are there any further requirements (due to Covid-19 or otherwise now) that would apply for any persons applying for a buy to let mortgage who are self-employed? 
Extra bank statements required mainly to show the sustainability of the business.

I am a first time buyer and am buying a home with Barratt with Help to Buy. Will I be able to buy to rent and what would be the interest rates or deposits? 
If you are buying with Help to Buy you can unfortunately not buy to rent.

What is the best way for my son to buy one of my buy to let properties to live there?
He would be able to speak to one of our brokers to buy a property to live in rather than rent out. Please call us on 0333 057 6666 to discuss.

What criteria the lenders follow when lending to a company?
Assessment of the Directors and the company SIP code.

Typically how much down payment is expected to get the best possible rates?
35% deposit 

Is repayment good for buy to let? 
Depends on the overall goal for the client.

Can you clarify your 5% NHS staff scheme discount please? Does it apply to BTL property and in conjunction with rental guarantee scheme?
To say a big thank you to our brilliant NHS workers who have shown such courage in the face of the COVID-19 crisis, we've launched our NHS 5% Deposit Scheme. The scheme was launched to help NHS staff get on the property ladder and was not intended to be used to build a BTL portfolio. Therefore the rental guarantee cannot be used in conjunction with the NHS deposit scheme. 

The quoted yields of between 4% and 5% - are they net or gross? What typical allowance for operating leakage per annum would you expect for an investor?
The quoted yields are gross and expenses / costs would need to be deducted from the gross yield. Typically there would be a derogation of circa 1% from gross to nett yield. 

What has been the average discount on asking prices accepted on new build properties in prime central London since the pandemic vs prior to lockdown?
According to Knight Frank which was covered in the webinar, prime central London house prices have fallen circa 10% 2013-2019.

Given market condition is it better to buy in London or outside. I know you do lot of London properties.
It completely depends on what your motivations are for purchasing the property. The property needs to deliver against why you are purchasing the property. 

We have noticed there has been a general delay on release on new properties is this related to the delays on the construction side during the pandemic or is this related to any particular financial circumstances?
The lockdown has effected the delivery of new homes right across the UK however most developers including Barratt London are now back to pre-lockdown levels of production.  

What is the estimate rental yield in Blackhorse view development?
This is a new development which has just launched. The yield is between 4-5% dependant on the unit types.

I am interested in Hayes Village and Millbrook developments. What are the estimated service charge rates for these developments?
The service charge is quoted on a £/sqft basis and will dependant on the provision of services on the development. It is generally between £2-3 sq/ft. It is best to contact the development and they will be able to give you a specific quote based on the property that you are interested in. 

Are you providing any offer for the first time buyers, if we are buying with Barratt?
We have a variety of schemes available to help make moving home easier, such as Help to Buy which lets you buy with just a 5% deposit. Please click here for more information.

Is the Help to Buy scheme available on Barratt homes?
Help To Buy is widely available on Barratt London homes in the capital under £600,000. Please click here for further information.

Barratt London developments and highest achievable yields

Rental yields