Partner Article

Hull Buy to Let proves a sound investment

Buy to Let has become the outstanding investment of the last 18 years, according to recent figures, and Barratt Homes says there has never been a better time for investors to take advantage of fantastic rental yields on its Buy to Let properties.

The improved lending landscape means more Buy to Let mortgages are available and are not as heavily regulated as standard mortgages. On top of this, in April 2015, the Government made significant changes in legislation with regards to pensions, meaning those with pension savings can invest in property, with Buy to Let an attractive prospect.

Barratt Homes’ stunning developments in Hull offer a fantastic selection of different sized homes, perfect for couples and families alike, and offer a good average annual rental yield to Buy to Let investors of around 6.1%. Homes are currently available at Barratt Homes’ Aspire, Liberty Green and The Sidings developments and are ready for renters to move into.

Each of the developments is part of Barratt’s new Lease Back scheme, where investors can buy one of the developer’s show homes, then lease it back to the them – ensuring a guaranteed tenant for the duration of the lease. Barratt’s sale and leaseback properties come with rent assured for a fixed period of one to three years and a five-year warranty. And, as the show-homes are finished to the highest specification and come complete with state-of-the-art kitchens, as well as matching fitted and freestanding furniture, the homes are ready to rent as soon as the Barratt lease ends.

Paul Hogan, Sales Director at Barratt Homes, commented:

“We’ve seen a huge increase in the number of Buy to Let mortgages at our developments in Hull as they are hugely popular with renters in the area who want great access to local schools, amenities, and transport links for work. Buy to Let has now become a sound investment and the homes we offer are perfect for professionals and families. Investors can be rest assured as we offer the standard five year warranty on all Buy to Let properties and also provide a 24/7 call out number that tenants can ring, taking the pressure off landlords.

“The developments also boast attractive showhomes, which are available to purchase via our sale and leaseback scheme – providing investors with a guaranteed tenant for the duration of the sales office function. This, teamed with the fantastic location, stunning homes and real rental potential, make Aspire, Liberty Green or The Sidings fantastic developments for any investor.”

Paul offers his top tips for those looking to invest in property for the first time:

1. Location, Location, Location – Before investing in a Buy to Let property ensure it is in an area with strong tenant demand. This is often where there are high concentrations of young working people, who are not yet ready or able to take their first step onto the property ladder. The success of Buy to Let at our developments in Hull has proven that access to good public transport, schools, commuter links and local amenities are all important to renters and should not be underestimated.

2. Target audience – Think about who is likely to be interested in renting the property. Students want very different things out of a house than a family, which is why new builds prove so popular for Buy to Let investors as they are a blank canvass that can be decorated/furnished to suit.

3. Getting hands-on – Many people see property as a key investment, but don’t want the hassle that comes with being a landlord. We offer a five-year warranty on fixtures and fittings and also provide a 24/7 call out number that tenants can ring if they need help.

4. Research mortgage deals - Make sure you look at all the mortgage products available - don’t just opt for the first one you find. There are organisations online that list details of the best buy to let deals.

5. Be properly insured – not having the right insurance can be disastrous if the wrong tenants move in. Take your time in choosing the correct policy to ensure it covers you should the worse happen.

For more information about Barratt Homes visit www.barratthomes.co.uk.

This was posted in Bdaily's Members' News section by Richard Savage .