News & Blog
The latest property news & information from a trusted source.
Explore our property blogs, select a category from below
General, Glasgow
Estate Agency Glasgow
Estate Agency Glasgow When it comes to the purchasing and selling of properties, Glasgow is a city full of opportunity. Since Glasgow is composed of a variety of different areas that all have their unique features, there is always something to suit the needs of everyone. If you’re a new family looking to rent your […]
General
The impact of Brexit on the Scottish Property Market
The impact of Brexit on the Scottish Property Market As things stand, the Brexit deadline has been extended until October 31st, with no clear progress as of yet on what terms the UK will ultimately leave the EU. As might be expected, this Brexit deadlock has made uncertainty the watchword of the day and, much […]
General, Student Accommodation
Making the most of Freshers’ Week
Making the most of Freshers’ Week Freshers’ Week – your first week of university – has a whole lot of hype around it. The cultural significance of this rite of passage can be overwhelming. The pressure to have the time of your life is huge. Here’s how to make the most of this week so you get […]
General, Guides
Getting To The West End
Getting To The West End For decades, the West End of Glasgow has been a much sought-after place to set up home. The sprawling area from Charing Cross to Partick to Hillhead and beyond comprises some of the most attractive postcodes in the city, if not the country. The beautiful green spaces of Kelvingrove and […]
General
Making New Habits Stick
Making New Habits Stick A new year has rolled around and it’s tempting to write a list of goals as long as your arm in a bid to signal “New Year, New Me”. But what good are New Year’s resolutions if they are far by the wayside as soon as February arrives? Making lifestyle changes […]
General, Glasgow
A History of Glasgow Tenements
A History of Glasgow Tenements Stone tenements are characteristic of housing in Glasgow — they have been part of the fabric of the city since the 19th century. Around 73% of Glaswegians live in a flat of some description, compared with under 25% for comparable cities down south. (Source: https://www.glasgowlive.co.uk/news/history/look-glasgows-oldest-tenements-history-15044421) Tenements were first built to […]
General, Glasgow, News
Things to do in Glasgow’s West End
Things to do in Glasgow’s West End Google “Glasgow’s West End” and you’ll be greeted with so many hits you’d be forgiven for wanting to click straight off again. This vast and bustling neighbourhood has so many attractions for all interests and ages it’s sometimes hard to know where to begin. Luckily, we’ve compiled a […]
General, Buy To Let, Hints & Tips, News
How do you answer: How’s your property portfolio performing?
How do you answer: How’s your property portfolio performing? Worried about your BTL portfolio and whether your ROI and Yields are strong enough? Should you sell your HMO or try and reduce your Cap-EX to increase your returns? Have you maximised your ERV or is it to low? Confused? Do you know your BTL’s from […]
General, Guides
A Complete Guide to Buy-to-Let Mortgages
A Complete Guide to Buy-to-Let Mortgages If you want to become a landlord or develop a property portfolio, you’re likely to need a buy-to-let mortgage. These specialist mortgage deals are different to standard mortgages – and it’s important to understand the key differences. Here’s a useful guide to help you. Buy-to-Let Mortgages – What Are They? If you’re intending to buy a property with a view to letting it out, you’ll need a specialist mortgage. In fact, it’s illegal to purchase a property with a standard mortgage if you intend to generate an income from it – so it’s important to let your mortgage lender know exactly what your plans are. A buy-to-let mortgage is often only available for people who already own a property, and who have a good credit rating. Exact policies differ, but generally speaking, a mortgage provider will also expect to see evidence that you earn £25,000 or more per annum. How Are They Different? Buy-to-let mortgages don’t differ that much to ordinary mortgages; and getting to grips with them shouldn’t be too tricky. However, here’s a few key differences that you need to be aware of. Interest-only. The vast majority of buy-to-let mortgages are interest-only. That means, with each monthly repayment, you’re not paying off any of the capital, only the interest owed against the loan. What are the implications? At the end of the mortgage term, you will need to repay the capital – so you’ll need to have your finances in order by then. Interest rates. Interest rates are often higher than standard mortgages, and you’ll need to factor this in when you make a purchase. Higher deposit. As a buy-to-let property purchase is effectively a business move, the minimum deposit required is often higher than with standard house purchases. On average, expect to pay 25% of the property’s value. Specialist fees. Most buy-to-let mortgages also incur specialist fees, which are more expensive than standard mortgage fees. What Can You Borrow? When you apply for a buy-to-let mortgage, your provider will want to know more information about the purchase and the potential rental yield. This is so they can establish how much they can safely lend you. You can get a good idea about how much you can borrow by working out your rental income. The maximum amount you’ll be loaned is directly linked to the rental yield you can expect to generate. If you’re not sure what this is, ask letting agents in the local area, or check online to see what similar properties are making. Typically, your rental income needs to be at least 25% higher than your monthly mortgage payments. Important Things to be Aware Of Like any form of borrowing, buy-to-let mortgages come with risks attached. It’s important not to rely on the sale of the property to repay your mortgage, as property prices are volatile and your house may decrease in value – meaning you’ll have to find the remainder of the money owed from somewhere else. Unlike other financial products, if something goes wrong, it’s unlikely that you’ll be covered by any consumer protection – so it’s important to make sure your finances are all in order before proceeding with the purchase.