Opportunity Knocks In The Buy To Let Residential Market
With the demand for rental properties remaining strong and a good range of mortgage availability in the buy-to-let sector, now is a good time for potential landlords to consider entering this market as an investment opportunity, according to CKD Galbraith.
Alasdair Mackenzie of CKD Galbraith said: “There are a number of smaller properties for potential first-time landlords keen on dipping their toe into the market and seeing if it’s a sound investment for them. There are flats in popular student areas close to busy towns and city centres that attract young professionals who may be keen on renting first to get a feel for the area before committing to a purchase.
“As a firm we also have many large houses that we have brought to the market recently that are also suitable for the buy-to-let market that may be of interest perhaps to landlords wishing to build their rental portfolio.”
CKD Galbraith has an alliance with Springtide Capital in Scotland, an independent mortgage broking business which has access to the full range of mortgage solutions available.
Some favourable buy-to-let mortgages* currently available through Springtide Capital Ltd include:
60% LTV (loan to value)
Matthew Griffiths of Springtide Capital said: “The buy-to-let sector in Scotland has seen activity levels build up progressively from fairly modest levels due to high tenant demand at present.
“We have noticed an increased number of vendors taking the opportunity to let their current principle primary residences, converting their current residential mortgage to a let-to buy, extracting the required equity out of the property to assist with the onward purchase. This may be down to several factors including, a lack of interest in their property, a desire to hold on to the property if possible or purchasers not willing to pay the home report valuation.
“The combination of limited new housing supply and the affordability pressures facing potential home-buyers has pushed rents higher and thus providing a strong platform for a further expansion in landlord activity.”
Buy-to-let lending accounted for 11.5% of total gross mortgage lending in 2012, up from 9.8% in 2011, according to full-year data released by the Council of Mortgage Lenders at the start of March.
CKD Galbraith has a number of properties on their books offering good opportunities for those keen on investing in the buy-to-let property market, for example:
17 Saxe Coburg Street, Edinburgh
This ground and lower ground main door flat is located in the attractive and highly popular area of Stockbridge just a short walk into Edinburgh city-centre. With stylish interiors having been recently redecorated throughout, the property offers substantial living space with two double bedrooms, one with an en-suit bathroom. This property has been let out for a few years by the current owners and is in a very desirable area where tenant demand is high.
For sale at offers over £270,000
Abbotsknowe on the south western edge of Galashiels is an exceptional B listed property converted from a late 19th century stone stable block. The property is currently divided into three separate houses and comes with 1.5 acres of private garden and grounds with two garages, a detached workshop and a stable with two loose boxes.
For sale at a guide price of £595,000
Lynclutha House is a spacious detached red sandstone house situated in a prominent position in Uddingston. The property offers three substantial reception rooms, large modern family kitchen and four bedrooms, as well as 1.1 acres of paddock land. It benefits from a self-contained lower ground floor making the property an ideal rental prospect.
For sale in two lots:
Lot 1: Lyncluth House and paddock – offers over £385,000
Lot 2: Lyncluth House - offers over £375,000
Dalshian, Deans Park by Dunkeld in Perthshire is a fully refurbished bungalow with accommodation, including three bedrooms with master en-suite bathroom, presented on one level. It is located in an attractive rural setting with spectacular views across the Tay Valley. The property is in a beautifully rural location ideal for young professionals keen on commuting to the city of Perth or retired couples seeking some tranquil living. The property has been successfully let out for a number of years.
For sale at offers over £275,000
If you are interested in any aspect of buying to let or in the residential lettings management services we offer then please do not hesitate to contact our residential teams situated throughout Scotland.
*It is important to take advice as to the product most suited to your personal circumstances since the overall cost of mortgages can vary significantly when taking into account interest and associated fees.