Buy to Let Lending Update

As the Bank of England reports residential mortgage lending has hit the highest level in more than five years, buy to let lenders have made little changes in rates and deals for landlords. December was the busiest month for mortgages since January 2008, with 71,638 loan applications rubberstamped by lenders. The Mortgage Works, the buy to let lending arm of the Nationwide, has reacted with a revamp of rates and offers for buy to let landlords.




These new deals hit the market from the lender:

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Beware of Unexpected Empty Property Costs



Do any of your properties have pre-payment meters? If so, you may also be aware of how they work, but of late, utility suppliers are clamping down on how they deal with these. Sadly, like a lot things, these are not in the landlords favour. A Pre-payment meter works on a “pay as you go” basis so that tenants can put money on the key and the card, and they are in control of how much they are using. Once the property is empty and a tenant leaves, there is a daily standing charge which is for things such as maintenance, the cost of keeping you connected to the network and various operating costs.

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Free Council Grants in Newcastle upon Tyne for Landlords- Lettings Breaking News

Get FREE money from the council if you have a property in Newcastle!



Newcastle council are currently offering a FREE grant to develop your rental property if it has been empty for over 6 months. This is not a % grant (you pay 20% they pay the rest). This is free money up to £3,000! 



If you have a property in the following streets and it has been empty for over 6 months then you will qualify for this:




North Benwell Terraces


Arthurs Hill Elswick Triangle
Barnesbury Road Beaconsfield Street Hartington Street
Benwell Grove Belsay Place Kinglsey Street
Canning Street Bishops Avenue Longley Street
Colston Street Brighton Grove Normanton Terrace
Condercum Road Callerton Place Vallum Terrace
Dolphin Street Chelsea Grove
Ellesmere Road Crossley Terrace
Fairholm Road Croydon Road
Farndale Road Dilston Road
Hampstead Road Gainsborough Grove
Ladykirk Road Graingerville North
Normount Road Northcote Street
Strathmore Crescent Philip Street
Wellfield Road Prospect Place
West Road Sidney Grove
Stanhope Street
Stanton Street
Tamworth Road
Wellesley Terrace
Westgate Road






Your property could also qualify for a FREE boiler via the new GREEN DEAL / ECO DEAL. We have set up a relationship with the second largest provider in the UK who offers FREE cavity wall insulation, loft insulation and combi boilers via a government backed grant scheme.

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Protect your DEPOSIT – get the starting point right!

People often ask me – how do you win your deposit disputes? How do you manage to get your tenant(s) to rectify any damage they may have caused before they move out? 



The answer – get the starting point right!



Give guidelines to your tenant(s) when they move in!



We do this and the guidelines are the first page of our inventory. The guidelines you should give to your tenants when they move in, should include the following:



Examples of the most common deductions that a tenant can be charged for. What may be common sense to you will not necessarily be common sense to your tenant?

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Make sure you give your tenant(s) a Tenant Handbook!

Everyone knows you should draw up a tenancy agreement before a tenant moves into your property – right!



YES – we all know the basics, but here’s my golden nugget of the week!



Do we provide our tenant(s) with something that provides all the information that they will need to be able to enjoy living in your property and makes sure that it is handed back in the correct condition or improved? 



The answer is – give your tenant(s) a TENANT HANDBOOK.

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Make sure you look after your rental property- hidden costs you need to plan for or they will end up costing you more!


You have done what you set out to do, you have become a landlord and you are now hoping to be on the path towards a passive income and that all illusive dream of house prices doubling which please please please I hope we eventually see in the North East.



If you have done your sums you will know that you have your fixed out goings (mortgage payments and insurance) as well as reactive maintenance costs. What I wanted to talk about in this e-shot is the LONG term maintenance that a lot of landlords do not plan for and you need to be aware of.

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You pay for what you get – Top 15 tips when doing maintenance on your rental property

You pay for what you get –
Top 15 tips when doing  maintenance on your rental property


1. Put hard tread matting in the entrance to encourage your tenants to wipe their feet.


2. Paint the exterior door step black – a lot better than touching up white every tenancy agreement.


3. Put laminate flooring in your living room/diner- these are your traffic areas and while more expensive, laminate will last longer than carpet.


4. Fit a UPVC ceiling in your kitchen/bathroom – you will no longer have condensation problems on the ceiling and you will no longer have to touch up the ceiling after every tenancy.

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How do you tell a good letting agent from a bad one?

We have been voted the number 1 letting and estate agent for customer reviews in Gateshead on allAgents, the UK’s largest directory of reviews.


So how do you tell a good letting agent from a bad one?


What I find strange is when a new landlord comes across to us because of a bad experience with another agent, they did not do any research on that agent before choosing them. At NGU Homelettings we all work hard and want to be the best in the industry. I personally pride myself on my work ethic, high standards and my relentless will to succeed. I work from 5:00am in the morning till 7:30pm at night. This work ethic is upheld by both my staff and I and has allowed me to categorically answer the top 8 questions you need to ask to find out if a letting agent is any good.

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