PRA urges buy-to-let lenders to toughen up rules
The Prudential Regulation Authority, part of the Bank of England, has warned buy-to-let lenders to take into account the reduction in mortgage interest tax relief when assessing applications. The phasing out of the tax relief was completed in April this year, which reduces the profitability for higher rate taxpayers. The authority said: “The PRA expects […]
Countrywide rejects £82m takeover bid by rival estate agent firm Connells
Estate agent chain Countrywide has rejected an £82m offer from rival firm Connells, and announced it has received an improved proposal from private equity investor Alchemy Partners. The company said today that it had considered the 250p per share cash offer from Connells – a subsidiary of Skipton Building Society – but has unanimously rejected […]
‘We want a Minister for Renting’ says critic of traditional buy to let
A property entrepreneur critical of the quality of traditional buy to let says the government should create a Minister for Renting to help millions of tenants. In a letter to Boris Johnson, Anne-Marie Brown of Love2Rent has called for the appointment to “oversee and raise standards for millions of people currently in rental accommodation”. […]
Vaccine could help to immunise housing market against downturn
News that the UK is the first country to approve a Covid-19 vaccine has been welcomed by property experts who hope that a successful roll-out could help to stave off a housing market downturn next year. However, with Brexit on the horizon, the end of the stamp duty holiday in March, the scaling back of […]
Problems paying your rent during the coronavirus pandemic
From the Welsh Government. What to do if you are struggling to pay your rent to your landlord, council or housing association and help to pay it. Click this link to go to the Welsh Government website.
Fightback Begins: landlords demand radical repossession changes
Private landlords are setting out a manifesto of radical changes for the rental sector, starting with more repossession rights. The demands are made by the National Residential Landlords Association in its proposals for the Renters’ Reform Bill. Click here to read the full article.