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Showing posts from January, 2019

34.5% of All Royal Tunbridge Wells Properties were Bought Without a Mortgage in the Last 7 Years

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For most Royal Tunbridge Wells people, a mortgage is the only way to buy a property. However, for some, especially Royal Tunbridge Wells’ homeowners who have paid off their mortgage or Royal Tunbridge Wells’ buy to let landlords, many have the choice to pay exclusively with cash. So the question is, should you use all your cash, or could a mortgage be a more suitable option? Well, looking at the numbers locally... 4,456 of the 12,896 property sales in the last 7 years in Tunbridge Wells were made without a mortgage (i.e. 34.5%) Interesting when compared with the national average of 31.9% cash purchases over the last seven years. Next, I wanted to see that cash percentage figure split down by years. As you can see from the graph, this level of cash purchases vs mortgage purchases has remained reasonably constant over those seven years... Next, if you are going to go for a mortgage, the next question has to be whether you should fix the rate or have a variable rate mortgage. In the last

The £7,002,045 Ticking Time Bomb for Royal Tunbridge Wells Landlords

“ I just love looking over and keeping up to date the 108 pieces of legislation that govern the rental of residential property in the UK ”   ...No Royal Tunbridge Wells Landlord, ever    If you are one of the 2,088 Royal Tunbridge Wells landlord’s that manages your own property, would it surprise you to know that there are 108 separate pieces of legislation that govern the rental of private houses to tenants. Oh, and on top of the 108 pieces of law, there are further 300+ regulations in the mix. Whilst Royal Tunbridge Wells’ landlords may once have preferred to manage their Royal Tunbridge Wells buy-to-let properties themselves to boost their profits, many Royal Tunbridge Wells landlords are starting to see this as a false economy. In the last four years, an additional 803 landlords in Royal Tunbridge Wells have converted from self-managed to having their property managed by a letting agent in Royal Tunbridge Wells, taking the total number of properties under management in Royal Tunbri