Landlord News

Landlord News Roundup for Monday 12th August 2019

Andrew Truglia - August 9, 2019

Savills Reports a Drop in Profits

Citing poor UK property market and uncertainty around brexit, Savills have seen a drop in profit of £4m when compared to the same period last year. This is despite revenues actually rising by 16%. 

Savills group chief executive Mark Ridley said that political and economic uncertainty in the UK “considerably reduced the volume of real estate trading activity in recent months, although occupier demand remains robust”.

However, he went  “Savills has a robust pipeline for the rest of this year and expects its performance for the full year to be in line with the board’s expectations.”

Leek United Slashes Buy-To-Let Rates

Leek United has cut the rates on their buy-to-let products by as much as 40%. With their five year fixed rate available at 2.6% up to 65% LTV, Leek offers an attractive option for first-time landlords. 

John Kelly, operations director, said: “The new, lower rates are good news for customers as they help make buying a home more affordable.

“Fixed rates remain a popular choice for customers and landlords alike, and help them with knowing what they will pay each month for the period of the fix, giving peace of mind and making it easier to plan their outgoings.”

He added: “These new products are likely to be very attractive to introducers as we continue to respond to the market and provide mortgages that are suitable for a wide range of customers.”

Former Purplebricks Director Launches New Property Investment Portal

Ex-Purplebricks lettings director Richard Jacques has launched a new online property investment portal.

Called Investerge, it offers regional agents interested in widening their services the opportunity to build an income simply by identifying and referring customers interested in property investment.

Jacques said: “It is a brilliant beginning for Investerge.

“As a start-up, we have a vision of the way a new generation of investors will want to work and invest.

“We are building technology that we believe will change the property investment industry and bring a new fresh approach to the sector.

“We aim to be the UK’s central investment solution that property investors, estate agents and property brokers embrace to enhance their offering and provide new business opportunities for all.”

He went on: “The first part of the partnership with Keller Williams has already started with the development of a unique introducer app which provides the team with immediate access to our investment marketplace and giving their clients access to new unadvertised opportunities.”

Jason Cannon, operating principal of Keller Williams, said: “We believe that working with Investerge will offer an even more compelling service and solution to our clients.”