FREEHOLDS - these are worth a further look - WILL GO QUICKLY

The most in demand properties from investors are cheap freeholds. In the current market a lot of these don't get advertised, but I've had a trawl through and pulled out some that look of interest. I'm unsure if they are still available, but all are sensibly priced and would rent well. If you're out of area and want me to view, let me know. If you have questions, please ask me. richard.baker@belvoir.co.uk

http://www.rightmove.co.uk/property-for-sale/property-56241452.html

This isn't in the best area of town, but is a cheap freehold property that will sell very quickly. It will rent quickly too - £575 would be a sensible figure here.

I suspect it needs some upgrading - maybe a few thousand - but it's still cheap relative to what is available in the current market - you can not usually buy freehold at this price.  

http://www.rightmove.co.uk/property-for-sale/property-54182540.html

This is cheap too. The good thing about this is it's pretty clear it needs everything doing - a £15,000 spend and it will like new - and because we're factoring in everything there's no potential for nasty surprises. We could easily sell this for £135,000 once done, so there's already a bit of margin for the purchaser - not a huge amount, but more than you get on any other property. I like this sort of thing myself because even though there's 2-3 months of dead time at the start, once I'm done everything is brand new and guaranteed. It will rent for min £600 once done, and we're probably looking at £650.

http://www.rightmove.co.uk/property-for-sale/property-56231510.html

Something going on here! This clearly needs some improvement in places but it's worth WAY over £115,000 unless I'm missing something - and it's in a London Property Auction. Usually I'd expect this sort of thing to be a repossession, but this one clearly isn't from the marketing photos. Equally, it may be advertised low with the intention of filling the room and selling it high, but even so why would this type of property go to auction anyway, given than it should easily sell for good money privately? Requires further investigation, and the agent was not forthcoming. If it's falling down, or that extension is illegal, that would explain it. But pull the extension down and you still have £140,000 of property, so that shouldn't be a factor either. As you'll realise I haven't investigated this as I don't have a good contact at that agency, but if you fancy putting in some legwork, feel free to investigate yourselves.

www.rightmove.co.uk/property-for-sale/property-56152922.html

A dead easy renter at min £625 and a modern property too that should need little in the way of updating. Clearly decorated to suit the current occupiers tastes and may need toning down a bit, but that should be it. A no brainer, and not stupidly priced either. 

Spending Review 2015 : Who is buying before April?

Mr Osborne is not proving to be the friend of the buy-to-let investor! You will have read in the national media that, whilst full details are still emerging, it's looking like from April 2016 investors will need to pay at least 3% in stamp duty when they buy an investment property.

In Northampton, most investment purchases are currently under £150,000. At that figure 3% would be £4500.00 - in fact it will be more than this due to stamp duty banding. It's a fairly significant sum of money and we feel this policy WILL affect people's investment strategies. Currently, the major buyers of properties under £150,000 in Northampton are investors - Mr Osborne is clearly trying to change that trend. 

When announcements like this are made, there's always a fair bit of panic / scaremongering as to what the outcome will be (see the Daily Mail). Will it cause property prices to drop? Will it stem the flow of investors entering the market? Will it mean rents increase? We often find with announcements like this that the effects aren't as significant as was first thought - time will tell.

What certainly is happening (and I can tell this by the number of emails I've received in the last 48 hours) is that many people are looking to buy BEFORE the new stamp duty rules come in in April. That doesn't leave much time and means December and January (which are traditionally quiet) are already looking like they will be quite busy. If you want to aquire something before April, you really need to tie up a deal in January - and if you choose the wrong conveyancer you still won't make it in time. 

If you are looking to buy before the new stamp duty rules come in, please send me an email to richard.baker@belvoir.co.uk - even if you think you're on my radar already. We will be working extra hard over the coming months to find properties for investors who are keen to meet this time frame, but it's important to understand which of our investors consider April to be a deadline they need to meet so we can plan accordingly.

NOW SOLD - SOUTHBRIDGE, Modern Apartment, over 6% return, £105,000

A nice little 1 bed apartment here, a short walk from the town centre and ideally located for all the amenities of Northampton including the new university campus which will shortly relocate 200 yds away. 
We've had this place rented for a number of years and the void periods are as close to zero as any property we have on our books. It's a ground floor 1 bed - a decent size - and currently rented at £550pcm, so it is being sold with TENANT IN SITU. That's a decent return of over 6% without compromising on the area you're buying in. The lease has 113 years with annual charges of £950.

email me if interested - richard.baker@belvoir.co.uk 

VOID PROPERTY, ABINGTON, Niche Purchase, Stylish Detached Property

It's not often you get a detached 2 bed in Abington (with garage) full stop. Whilst it's arguably the most upmarket Victorian area in Northampton, the housing stock is mainly terraced properties which rent really well. 
There is the odd detached property around, and some with garages too. Here's one that's sold recently for £200,000 with another agent - this sort of thing will rent for £750 in the current market without any trouble. 

We may have another (nicer) one coming up soon - a little more of a modern conversion than this one - and priced around £170,000. Again it will rent for £750. It's a niche purchase but one that puts the buyer in the right part of town and at the right end of the market. I've a couple of people interested already, but let me know if you want a call when this property comes to market. 

richard.baker@belvoir.co.uk