What Yorkshire’s landlords should consider before buying in 2025
At Together, we’ve helped thousands of landlords and investors achieve their property portfolio ambitions, through our common sense approach to lending. Our customers come from all areas across the UK and backgrounds, with one common goal – to invest in opportunities that arise in the residential and commercial property market. We are delighted to have teamed with YABA to become partners in supporting the goals of Asian entrepreneurs and businesses and look forward to working with its members more.
Spotting emerging opportunities and navigating new challenges is a key part of property investment. Our latest residential property market report discusses if 2025 could be the start of a residential revival for buyers, landlords and investors and looks at the past few tumultuous years of high interest rates and cost of living issues.
The report helps identify the changing trends affecting landlords and details how the outlook remains optimistic despite the backdrop of housing shortages, high property values, proof of affordability by means of deposits, leaving rental accommodation still very much in high demand for growing numbers of tenants. In fact, there’s currently an average of 10 applications for each private rental property.
But what should landlords and investors consider when looking in the near future?
- Stamp Duty costs
The upcoming Stamp Duty Land Tax changes, (SDLT) set to come in on 1st April 2025, have contributed to a surge in transactions over the first three months of the year, as private and professional buyers have aimed to beat the deadline.
From the start of April, property investors (including landlords) will see the amount of SDLT they’ll need to pay increase. Based on the average terraced house price in Leeds (£202,000), buyers would need to pay £11,640 in Stamp Duty Tax. That’s an increase of £1,540 from the end of March onwards.
- Renters’ Rights Bill
Expected to become law in Summer 2025, the Renters’ Rights Bill includes policies designed to give renters in England more protection against rising rents and poor housing conditions.
So, before buying your next Buy to Let, ensure that you’re fully aware of the following changes:
- An end to ‘no fault’ evictions and fixed term ASTs
- Limits on rental increases and the amount you can ask for in advance
- Your legal obligation to join a new landlord ombudsmen and database
Awaab’s Law will also be extended to include all private rental properties. It will set out defined timescales for landlords to investigate and repair any hazardous or dangerous conditions, such as mould and damp.
Mortgage criteria and affordability
Meeting strict lending criteria and proving affordability continues to be an issue that many property professionals are facing when looking to high street lenders. Add to that additional typical reasons for mortgage rejection include wanting to buy a property classed as ‘non-standard’, or having complex income from multiple revenue streams that’s difficult prove.
That’s where specialist lenders, like Together, come in. With a common-sense approach to lending which judges each case on its individual merit, we can offer more flexible criteria alongside a personal approach which makes a decision fast.
Investing in property in Yorkshire is still a lucrative, long-term prospect as seen in the numbers below:
- the average rent across Yorkshire and the Humber rose to £809 in January 2025, up from £768 in the previous January.
- Leeds and Sheffield showed exceptional rental yields, both averaging around 7%.
So, whether you’re a new landlord or looking to power up your existing portfolio, Together’s Buy to Let mortgages are on key part of the process in accessing the finance you needed with a process that is seamless and stress free. Get in touch with