Investors reap rewards with Barratt in Looe
Homes in Looe from leading housebuilder Barratt continue to provide attractive investment opportunities as the buy to let market in the region continues to thrive.
Barratt sales director Caroline Hill said that investors are increasingly turning to new properties, such as those available at St Martin, in preference to older homes as a hassle-free way to maximise their income.
“We have a number of ways in which we are helping investors from our popular show home leaseback scheme through to our part exchange option which means that those owning an older buy to let property can upgrade to something brand new,’’ she said.
The brand new option is proving particularly popular this year with Barratt’s five year warranty giving landlords total peace of mind.
The items which Barratt will cover at no extra cost to the buyer include kitchen units, the central heating system, doors, windows, drainage, the hot and cold plumbing system and even the driveway.
The five-year guarantee of fixtures and fittings in place at the time of purchase is in addition to the existing ten-year warranty on the structure of new homes and remains valid even if the home is sold on to a new owner.
Happy south west investors include Nick Faulkner who believes that property continues to provide an excellent return for his money and uses Barratt’s show home leaseback scheme to boost his portfolio.
Nick has been investing with Barratt since 2009 with his first purchase an apartment in the south west. This was quickly followed by the addition of a house and Nick then sold both properties and bought two further Barratt houses.
His portfolio has continued to increase with Barratt properties and Nick praised the approach from Barratt which helps investors such as himself. “It’s all very easy with Barratt and I’d definitely look to more purchases with them.’’
Barratt’s show home lease back scheme comes with a guaranteed yield of seven per centre and under this option buyers have the opportunity to buy the show home at selected developments in the region and then immediately lease it back to the five star housebuilder for up to three years to use as a marketing suite.
“Rather than have to worry about untidy tenants, the investor knows that we will maintain the property in pristine condition,’’ said Caroline.
As an investor Nick says he finds working with Barratt straightforward and easy. “The purchase process is always professional and hassle free and with Barratt as a tenant I have no letting fees, no management fees and a good tenant.’’
Nick often sells at the end of the Barratt tenancy to fund his next Barratt purchase but Caroline said that others buyers using the lease back scheme keep the homes as long term investments and with rising rents in the south west she said rental homes are increasingly in demand.
“Many of our investors take the view that the direction of house prices in the medium term is up,” added Caroline. “So they expect to be sitting on a tidy profit in three to five years’ time.”
For further information about homes at St Martin the development is open daily from 11am until 6pm, log onto barratthomes.co.uk.