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You’re buying your dream home, everything is going great. It’s the perfect location, great open views and close to transport links for work. The day has arrived and its time to collect the keys to your home, you move in and all is well, maybe even too well….. But then you are hit with two words, ground rent!

When you looked over the property and you studied the lease there was no mention of your £150 annual ground rent and that it would double every 10 years. You just can’t afford to pay the doubling ground rent, so you try to sell the property.

It very well maybe the case that you can’t sell the property because of the doubling ground rent, you’re now stuck with a property you can’t sell and bills you may no longer be able to pay.

Speaking to the owner of the freehold about buying the freehold maybe the only solution. But some investors may want a considerable amount of money for the freehold, which isn’t an ideal resolution either. This is a problem for around 100,000 people in the UK named the ‘ground rent scandal’.

Peregrine Property

If you are unsure about ground rents then feel free to speak to us, it’s something we come across quite often so we’ll be able to help and offer advice every step of the way.

Ground Rent

You pay ground rent when you own a leasehold property, this is because you don’t own the land the property sits on, and the ‘ground rent scandal’ got its name due to unfair rent prices and leases making it extremely difficult of leaseholders to afford.

The charity Shelter recently stated typical ground rent can be anything up to £400 per year, however the average amount is between, £50-£100 per year.


Unfortunately, yes ground rent can affect the saleability of a property. If you are unsure on leasehold property contact the experts at Peregrine Property.





property investment hull

Now a common type of investment for individuals, there are a number of different avenues you can take when investing in property. Options available are buying a property to flip and sell quickly, buying a property to rent out or indeed investing in a commercial property.

We’d recommend that you do your research before going ahead, research efficiently, this will help plan ongoing finances long term.

Why are investors attracted to property?

Investors are drawn to the advantages investing in property brings, one of which it can provide long term financial security. If you select the right property for rental purposes it can create a sense of security because of the property’s appreciation in value over several years.

Other benefits include the steady income a rental property generates. Generally, this is the main rationale for people investing in property. Location dependent, you can receive a significant amount of profit over the cost of expenses.

When you invest in property, you become the boss of the “project” you will determine the success or failure of the investment.

What are the risks in investing property?

Investment in property does have its own risks, nothing is set in stone. Pricing and demands for buying and renting can fluctuate, something that you can’t control.

Peregrine Property

Here at Peregrine Property we recommended you find out everything about the property, advantages and disadvantages of the property are vital in any decision making. Consider the schools in the area, transport links, crimes rates and employment rates.

If you have any questions or looking for general advice when it comes to investing in property then make sure to contact us, we have a wealth of knowledge and expertise when it comes to property investment.

You can contact via our online forms or by calling our office.

Wakefield Estate agents

Wakefield Property Market – Is it booming?

We decided to take a look at the current Wakefield property market, since we’re now midway into lock-down 2.0, just to see if the market is indeed booming or if the property market has slowed down.

Wakefield – Estate Agents!

It’s a sure bet to say that the property market in Wakefield is booming! There is still a large number of viewings taking place all over the WF postcode, in fact in some areas they have reportedly doubled year-on-year, offers being submitted on properties are being made left, right and centre, in some case's estate agents have stated some offers have considerably above the asking price.

This will of no doubt of been caused due to the initial lock-down when viewings could not take place as once could, the cut in interest rates and stamp duty holiday has also played a part in restarting the property market moving again.

After all Wakefield is a place to purchase an affordable property, offering excellent transport links up and down the country. It’s the ideal place for investors, professionals, and families.

New Build Developments

A number of new build developments have sprung up across Wakefield this year mainly in Durkar and around Holmecroft. These properties along with with properties up to the value of £400,000 have seen the sharpest rise in popularity in Wakefield, more than those of £400,000+.

Wakefield – Rental Market

Wakefield doesn’t differ from most of the UK in that demand outshines property available, so great rental prices in Wakefield can be achieved, if marketed correctly – Something here at Peregrine Property we pride ourselves in doing.

Peregrine Property – Wakefield

Whatever your reason for looking into the Wakefield property market, buyer, seller, landlord or indeed looking to rent, we’re the professional, friendly, local estate agents for you.

If you have any questions you can contact us via our online forms or by calling us direct, we’re more than happy to answer any questions you may have on the Wakefield property market.

estate agents wakefield

Our last interview of the month is with a property investor from Liverpool, Karl Beddard from LMKB Property service answers our questions here:

Can you tell us about yourself and how you got into your current role and what you like about your job?

So I’m Karl and my partner is Louise, we own and run LMKB property.  We started about 15 years ago when we bought a couple of properties in Liverpool.  At the time we had good careers, working for MBNA, then Bank of America as Program Managers.  We didn’t have any intention, at the time, of doing property full time as we both enjoyed our jobs and wanted to progress our careers in our chosen professions. 

During this time we have managed various strategies on our properties, from student accommodation, rent 2 rent, serviced accommodation, to standard BTL, which is our current strategy.  Skip forward 13 years and Louise and I had the opportunity to take voluntary redundancy, which we jumped at as it was an opportunity to try something different. 

We set up an IT consultancy business, which Louise runs but I wanted to try something different.  After looking into a few different business ideas, we decided to get serious about property.  So we started to listen to as many property related podcasts and read as much as we could. All the fact finding told us that we wanted to focus on 3 things.  We needed to get educated, we needed to have a property mentor, and we needed to build a network of people around us that we could learn from and seek guidance from.  So after careful research we went out and paid for the best possible training we could find, we joined Legacy, which is now Asset Academy.  This gave us the knowledge and confidence to operate in the property market, it gave us a network of like mind people, as well as access to property investors who are very experienced and active in the market. Along with this it gave us our 1st mentor, Mark Dalton, whom is a very successful property investor who focuses on BTL and HMO and is part of the Asset Academy team. 

Since then we have continued to invest in our training to grow our knowledge and we are now members of the Prosperity Network, which is owned and run by Danny Inman, a very prominent property investor in the North West.  We continue to expand our network via the Prosperity Network community and also by getting out there and attending as many networking events as we can.  Through the Prosperity Network we now have our 2nd mentor, Michael Almond.  We feel its important to work with different mentors as we get different perspectives of how to invest in property.

What we like about property is the pride we get from building something from an idea.  Its down to us to drive our business forward and that’s exciting and sometimes scary.  We have complete control as to the direction we want our business to take and that’s a special feeling.  Our business represents us, our values and who we are.  For us its not just about building a portfolio, its about giving our tenants a home that is safe and feels comfortable to live in.  We also use investor money to finance the deals and that gives them a great return on the money they lend us so its a winner for them as well, especially in this current climate.  And I guess its nice that we get a property out of the deal as well.   

What is that your company currently does and what sets them apart from their competitors?

Our current strategy is BTL and HMO’s in Wirral and Liverpool area.  We also source for clients.  I guess our overall strategy is to buy to keep but our next deal will be a flip to replenish our capital.

Our latest project is a 4 bed end terrace that we are turning into a 5 bedroom HMO, with 2 en-suites.  That should be ready in the next 6 weeks.  We also have another HMO about to go through.  We intend to keep this one, if we do then our next deal will definitely be a flip.

I wouldn’t say we do anything that sets us apart from any serious investor.  We work hard and we stay active in the market.  What we think sets apart from a lot of amateur investors out there is that we are educated and we continue to stay educated.  We keep abreast of what is happening in the market, we attend regular networking events, consistently build our network and ensure we have mentors for support and to guide us.  We have met far too many people who just jump in and call themselves investors with no training and sadly no idea.  We think this approach is crazy as most of the deals they are looking at are just prospecting deals and are deals we really wouldn’t consider. 

How has Covid-19 affected the company?

I would say the main impacts, apart from the lockdown at the beginning, has been the loss of finance and mortgage products at the start of covid.  A lot of lenders became very cautious and withdrew their mortgage or finance products, which meant securing lending was tricky due to the lack of products out on the market.  This is when the value of a good mortgage broker cannot be over stated.  We also incurred higher than normal finance costs because of this, but that’s just life, as long as there is still a deal then you keep moving forward. 

It was also tricky at first doing viewings as many of the estate agents would only do virtual tours.  It felt a bit funny putting an offer in on a property you had seen in a video.  Saying that, our latest project was bought that way.  The same situation also applied with getting quotes from builders.   This caused slightly more challenges as its hard to know if a wall is addled from a video so the original quotes ended up being more, once we finally got into the property to inspect it, however we had built a contingency into our budget so not to have our over returns impacted.

We also heard rumour’s that there were shortages of building materials, which subsequently drove up prices, but we haven’t seen any evidence of this around where we invest.

The biggest impact we have faced is the supply and demand of the housing stock in our area, which is being created by this artificial property buddle.  Properties that might have been around 120k before the lockdown are up at around 150/160k, which means the deals are harder to find.  The speed at which houses are coming onto then going off the market is very evident at this time.  Saying that, we have noticed that things are starting to slow down slightly over the last couple of weeks and a few properties are starting to be reduced.

What would you say your local property market is like at the moment?

As mentioned in the last question, the house prices have shot up.  What was a good deal before covid just isn’t there now.  There are still deals out there but we have had to change tact on how we find the deals.  We’ve also adopted other strategies to give us access to wider range of housing stock in our investment area.  Recently it looks like the market has starting to slow slightly but its nowhere close to what it was like before covid.

Can anything be done to help the property sector at this moment in time?

So far covid or the threat of a further recession hasn’t dampened the publics desire to want to buy and sell property,  which means the market is moving and why we are still in this bubble.  As long as lenders don’t panic and pull their products then property investors can keep doing the deals.  Also the drop in interest rates is bring private investor out of the woodwork as having their money sat in a bank just doesn’t make sound financial sense right now, which is obviously good for property investors as we all know that investing in property is best.

Do you think Covid-19 will have a lasting affect on the property market?

We honestly cannot answer that, our gut feel is no but then we’ve never been through a pandemic before. We’ve been through recession’s but this is new to us.  The one thing we always go back to is supply and demand and the fact that there is always a shortage of properties in the UK.  As long as there continues to be a shortage then the government will continue to need property investors to help plug the gap.  As nasty as covid is, and its certainly has had a massive short term impact on everyone’s lives, we think in the long run society will get back to normal and people will still need somewhere to live so the property cycle will continue.

Where do you see yourself and the company this time next year?

Still doing what we are doing now, buying houses, doing them up and either keeping them or selling them on.    Although if you listen to all the conspiracy theorist the end is nigh anyway so none of this matters.  But seriously, Lou and I thankfully don’t go in for all that, the world has to keep on turning and so we will.  We will do our hardest to keep abreast of what is happening in the UK and our area and adapt our strategies accordingly.  Facts will drive our business forward not speculation.






Estate agents Hull

Let’s be honest if you don’t know Hull it’s probably the place you’d think about as a place to invest in, with a reputation of a failing northern city. However, investors would be missing out on a real treat of a city.

Hull offers some of the cheapest buy to let property all across the country, with the city now on the up, now is the time to take advantage and invest in property in and around Hull. Some would say it’s an investor's hot-spot.

Hull Property Market

Hull or its official name Kingston Upon Hull, is located in Humberside on the east coast of the country, with a population of around 260k, which is the highest it’s been in over 20 years, suggesting people are no longer moving away and choosing to stay in the area, a bonus for the housing market.

As one of the largest ports in the country making it perfect for logistics, close to the M62 motorway is ideal for large companies to set up their headquarters and warehouses such as Crown Paints, KCOM and Aunt Bessies. This has led to a high demand for property specially with migrant workers.

With a well renowned university, The University of Hull is home to around 16,500 students which will continue to grow, putting a great deal of demand on student accommodation across the city.

So, where to invest?

The city centre and the immediate inner suburbs has a population of around 45,000, with house prices ranging from £88,000 to a modest £128,500. You really shouldn’t overlook this area, it would be ideal for shared lets such as houses of multi-pal occupancy and student lets. You could gain a yield of over around 7% in HU2.

East Hull has a similar population as the centre around 47,000 but house prices are higher you can expect to pay on average between £130,000 to £150,000. The area is close to the port and dock, so again would great for larger HMO properties for migrant workers, expect a yield of around 5% in HU8.

Travelling to north Hull, the population is little less just over 40,000, the north suburbs of Hull historically has had bad reputation but regeneration and investment have been evident in the area in more recent times, with property values of £100,000 up to £175,000. If, you’re interested in investing in new build property this is the location of Hull for you.

As you head inland property values increase dramatically, in South West Hull the population increases to just over 47,000 with property values £180,000 to £240,000, great little villages with road links throughout, ideal for upper and mid-priced property, investors can still bag themselves a bargain.

West Hull has the largest proportion of the city's population just short of 70,000 class West Hull as their home, the average property value is the highest across Hull around £250,000. Lots of investment was introduced into West Hull, big open space properties with large gardens, excellent transport links making it the perfect place for families. You would expect to find a rental yield of 3% in HU16.

Peregrine Property Hull

If you have any questions about buy to let properties in and Hull, or just looking to see what property we have available get in touch with us online or over the phone.




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