news from Slinn Residential

in a mid summer nights dream......

Posted on Friday, 10 July, 2015

As we struggle to keep apace of the number of tenant enquiries and new properties coming to the market for sale and to rent. With the first ashes test just underway it is difficult to steal a five minute glance at the telly without a severe reprimand from the boss!!

With five rental move ins and a completion on the Langham Place property last week it was a pretty hectic schedule getting the properties ready and inventories prepared, particularly time consuming was a large Listed building on Billing Road which was let for the first time. Langham Place finally completed after some delay due to the length of the chain but alls well that ends well.

As ever with the budget there are pros and cons. Slightly disturbing was the news that the Governor of the Bank of England has warned that the number of sales of Buy to Lets may cause future concern as lenders continue to relax lending criteria.  The Chancellor has also established that Buy to let mortgage interest relief will only be available on basic rate income. This is a set back for the better off higher earners amongst us but should not affect most smaller landlords.......on the bright side you can always rent a room in your own house as the relief for this is rising to £7,500.

As ever, only buy if you have a fair deposit and are comfortable about repayment levels should rates rise. However with rents and capital values continuing to rise our feeling is that there is unlikely to be a slow down in the Buy to Let market any time soon.

We will shortly be marketing a development of four new properties in West Haddon. The development s currently under construction and further details will be on the web site available shortly.

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