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Take advantage of the low interest rates currently on offer The Bank of England has cut the base rate for the first time in more than seven years. The rate has dropped from 0.5% to 0.25%! The property industry is still processing the current interest rates and what impact this will have on the market. The cut could be music to the ears of home owners on tracker mortgages and other borrowers. Since the rates have edged closer to the zero mark, estate agents have seen a surge of investment within the buy-to-let market. Unfortunately for those first time buyers hoping to climb the property ladder, savers and anyone hoping to retire the news has not been as well received.

 

CEO of investment firm Assetz Property, Stuart Law stated: "Although the decision to slash interest rates to 0.25% will make mortgages even cheaper, it is a major blow to savers who are already getting poor returns... As a result we expect to see continued growth in people looking to income from other asset classes, such as buy-to-let, where they can get typically three to five times the income that they could now get from a bank account and still have good long-term security of capital."

 

Buy-to-let portfolio mortgages are designed for landlords who own more than one property. A portfolio Buy-to-let mortgage can allow you borrow more than the property's value. You may be able to take advantage of your rental income or equity and put this towards purchasing other properties to build upon your portfolio.

 

From our 28 years of property management in the local area, we have established a strong relationship with an impartial mortgage broker who we often refer our clients, their friends and family to.

 

Contact Marc for a quote to remortgage your property. Marc can guide you through the application process and explain the process and the deals available to you in more detail.

 

Follow this link to arrange an appointment or request a call back from Marc.

Written by Marc Cohen Source Wonderlease

Services

If you have managed a property before, you will know that maintenance issues rarely arise at convenient times: Saturday night calls from the tenant and boilers break down on bank holidays. Whatever the problem, whenever it occurs, Wonderlease Property Management runs a 24/7 maintenance and emergency helpline.

Additional services are available via our Management Department, these include; complete refurbishments, extensions, loft/basement conversions, decorative improvements, new bathrooms and kitchens.

Property Valuations

For a true and accurate valuation we take into consideration recent market activity, general condition and location. When you are happy with the price, we are ready to prepare your marketing material. We offer excellent marketing packages which include professional photographs, floorplans, and an Energy Performance Certificate. We identify the unique selling points of your property and promote them in a set of details produced by one of our staff members.

Essential Landlord Information

From simply finding the tenants and arranging the move-in, to overseeing the entire tenancy, we are able to tailor our service to suit your requirements. Below is a breakdown of our Let Only, Rent Collection and Full Management Services.
View our Landlords Guide for Essential Landlord Information

Check in & Check out Reports

With our Fully Managed Service, we will carry out our own photographic inventory, on check-in and checkout. We will inform all utility suppliers along with the Council Tax and Water of the new tenant’s names and supply them with up-to-date meter readings.
Once the tenants vacate, Wonderlease will inspect the property and if necessary act on your behalf if any damage costs need to be deducted from the tenant’s deposit. We will also inform all utility suppliers, council tax and water that the tenants have moved out, and supply them with up-to-date meter readings. Please note all void periods are the Landlords responsibility to pay.

Rent Payments & Statements

You will receive monthly statements via email and/or post, showing rental income and outgoings, an annual statement is also provided at year end. Your accountant will be most impressed!

Property Inspections

Inspections are carried out twice a year, and we will send you updated photos and our opinion on how the property is being looked after.
We will advise tenants if a property is not being maintained in the correct way, this may be assistance with regular cleaning, condensation or damages that we need resolving.

Safety Regulations

Enjoy the peace of mind that Wonderlease will keep you updated if any new regulations for Landlords that come into effect. We will also help you arrange for these safety checks and certificates to be completed using our fully qualified contractors. For further information on any safety regulations, please feel free to contact us and we will be happy to explain in greater detail.

Qualified Contractors

We work alongside some of the most highly qualified and experienced contractors in the local area. Each contractor is put through an interview with our Maintenance Manager before they can become part of our panel and be handed work.
As a company our standards are high, we expect the same from contractors. Our Contractors also offer discounts to Wonderlease clients and are also happy to wait for payment until the next rent has been collected.

Going the Extra Mile for our Landlords

Wonderlease can help with making any payments on your behalf in relation to your property. We offer complete peace of mind 24 hours a day and you will not be receiving any tenant(s) contacting you directly. Whether it be annual safety tests arranged on your behalf, negotiating tenancy renewals, rent Insurance information when requested, or just a general discussion about the current market trends be sure to know you’re in safe hands with Wonderlease.

Why Choose Us?

Established in 1988, Wonderlease Ltd is a family run business providing Sales, Lettings & Property Management all over East London and the Essex borders. We pride ourselves on offering a professional and bespoke service that cannot be beaten by any other Estate Agent.

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Permitted payments

For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:

For properties in Wales, the Renting Homes (Fees etc.) (Wales) Bill , once enacted, means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:

Tenant protection
In addition to publishing relevant fees, lettings agents are also required to publish details of:

Permitted payments

 

For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:

• Holding deposits (a maximum of 1 week's rent);
• Deposits (a maximum deposit of 5 weeks' rent for annual rent below £50,000, or 6 weeks' rent for annual rental of £50,000 and above);
• Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if lower, any reasonable costs);
• Payments associated with early termination of a tenancy (capped at the landlord's loss or the agent's reasonably incurred costs);
• Utilities, communication services (eg. telephone, broadband), TV licence and council tax;
• Interest payments for the late payment of rent (up to 3% above Bank of England's annual percentage rate);
• Reasonable costs for replacement of lost keys or other security devices;
• Contractual damages in the event of the tenant's default of a tenancy agreement; and
• Any other permitted payments under the Tenant Fees Act 2019.

 

For properties in Wales, the Renting Homes (Fees etc.) (Wales) Bill , once enacted, means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:

• Holding deposits (a maximum of 1 week's rent);
• Deposits;
• Utilities, communication services (eg. telephone, broadband), TV licence and council tax;
• Payments for the late payment of rent;
• A breach of a term of the contract;
• Any other permitted payments under the Renting Homes (Fees etc.) (Wales) Bill and regulations once enacted.

 

Tenant protection

In addition to publishing relevant fees, lettings agents are also required to publish details of:

• the redress scheme they are a member of; and
• the name of the approved or designated Client Money Protection scheme they are a member of (if any).