Treasury to consult on Buy-to-Let regulation
In a new set of proposals published today the government laid out its plans to give the BoE increased oversight of residential mortgage lending as it looks to reduce the risk that the housing market could overheat. Chancellor George Osborne said: “Ensuring the stability of the UK housing market is a crucial part of this […]
Biggest monthly fall in house prices for almost a year
House prices in England and Wales fell by 0.2 per cent in September according to the Land Registry – the biggest monthly fall in almost a year. This means that annual house price inflation according to the Registry has dropped from the August level of 8.4 per cent to September’s total of 7.2 per cent. […]
8,000 private landlords apply for licences under new rules
Thousands of landlords have applied for licences under tough new rules that could land them with a £20,000 fine for renting out homes in bad condition. The Private Rented Licensing Scheme was introduced by the council on September 1 to tackle anti-social behaviour and poor conditions in private housing. Nearly eight weeks on, more than […]
More landlords using Section 21
The number of landlords using Section 21 notices to evict tenants is currently on the rise, with eviction specialist Landlord Action claiming that the total reached 34,080 last year, an all time high since 1991 when the procedure was developed. The number of claims was up 20,000 year on year, a figure attributed to a […]
Neighbours from hell could be kicked out of their houses in just TWO WEEKS
New laws mean landlords will be able to evict nuisance tenants more quickly Convictions for anti-social behaviour will trigger eviction proceedings Some nightmare tenants could be evicted in as little as two weeks New laws come into force next week and will ‘fast track’ eviction process Tenants who terrorise their neighbours by making them feel […]
Should buy-to-let landlords worry about a 1pc rise in rents?
Official figures today showed rents rose by only 1pc in the past year. Private rents have risen by only 1pc in the past year, official figures show, with landlords braced for slow rises for at least a year. Interest in buy-to-let has exploded in recent years with rents and capital values rising in tandem to […]
Buy-to-let boom: one in five homes now owned by landlords
Private landlords now own almost one out of five homes in Britain and they will buy a further million in the next five years, according to new research highlighting the phenomenal growth of buy-to-let. The figure, along with other startling statistics about this increasingly popular form of investment, provides the latest snapshot of Britain’s changing […]
Right to rent immigration checks: landlords’ code of practice
From 1 December 2014, some landlords will need to check that someone has the right to live in the UK before letting a property to them. This includes landlords who take in lodgers or sub-let property. In most cases you’ll be able to carry out the checks without contacting the Home Office. All you need […]
Landlords not welcome
Buy-to-let investors would no longer be permitted to buy properties in London boroughs and other popular areas under radical new plans by Labour. Ed Miliband has announced that as part of the Lyons Review, councils would be allowed to designate certain areas for ‘housing growth’, meaning that they would have the power to assemble land […]
Buy-to-let nightmare: £56,000 of damage and my insurer won’t pay
One couple found their home of 36 years trashed after tenants grew cannabis inside. It’s every landlord’s worst nightmare. When Richard Meryon, a retired captain in the Royal Navy, and his wife, Rosalind, rented out their Devon home their tenants destroyed the house and everything in it. When they finally managed to evict the couple […]