Rents edge up to £737 a month in May
The average rent in England and Wales rose by 0.1% since April, to £737 per month, according to LSL Property Services. This is slower than the average monthly increase of 0.3% over the previous twelve months although the latest increase still leaves rents up 3.5% up on an annual basis. It also brings rents in May to the third highest level on record.
The number of new lettings in May benefited from better tenant finances and slower rent rises, contributing to a 3% increase in the number of new tenants, compared to April. On an annual basis, there were 5% more new tenants than in May 2012.
If you are looking to get a buy-to-let mortgage, Trinity Financial have access to Godiva Mortgages two-year fixed rate at 3.19% and it has a flat £1,999 arrangement fee. The mortgage has a free property valuation and landlords will need a 35% deposit.
June 21, 2013
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