Surge in demand hits Scottish rental market
What began as a resurgence of tenant demand late in Q2 2021 quickly evolved into what many letting agents in Scotland have described as simply the strongest and most sustained period of lettings activity on record. Stock levels in Scotland plummeted a full 65% over the quarter. Commentating on the latest report, Gillian Semmler, communications […]
Slow rise from ultra-low mortgage rates predicted
Mortgage experts are expecting a “slow and measured” increase in the cost of home loans amid predictions of rising prices elsewhere. All eyes turn to the Bank of England which will consider next week whether to raise the base rate. Some mortgage lenders have raised their interest rates slightly, after a period of intense competition […]
Renting reform White Paper is delayed until next year, DLUHC confirms
The long-awaited and much-debated renting reform White Paper due this month is to be delayed until next year, it has been confirmed. This document is expected to include several new measures for the PRS including a new lifetime tenancy deposit model, reforms to drive improvements in standards including by ensuring all tenants have a right […]
Budget nearly included 1% Stamp Duty hike for landlords, OBR docs reveal
A 1% rise in Stamp Duty for landlords was on the cards but rejected at the last minute by Chancellor Rishi Sunak, according to Office for Budget Responsibility (OBR) documents. The hike in ‘additional property’ Stamp Duty for landlords and second home owners was clearly being discussed at Treasury level, as the OBR’s Economic and […]
Landlords warned over large-scale property fraud scams
There’s a new warning to landlords purchasing properties about a spike in scams which have seen victims defrauded out of hundreds of thousands of pounds. The Law Society of England and Wales has joined forces with the National Economic Crime Centre, which is housed within the National Crime Agency, and Action Fraud to issue flyers […]
Inflation forecast sparks fears for mortgage costs
Inflation could climb to 4.4% as soon as March next year, adding further pressure on the Bank of England to hike interest rates, impacting the cost of mortgages. Forecasts by the OBR (Office for Budget Responsibility), which the Chancellor Rishi Sunak set out in his Budget speech today, said that inflation – as measured by […]
Blow to London as half of renters say they’d leave if they could
The pandemic has brought with it a whole new way of working, with many businesses now offering a hybrid model, and others ditching their offices entirely and allowing employees to work remotely full-time. But what does this mean for big cities that once drew people in for work? Do people choose London for the city […]
Good news – Capital Gains Tax reporting time doubled for landlords
Chancellor Rishi Sunak’s Budget has made one small but welcome change to Capital Gains Tax. For those selling UK residential property, including landlords, the deadline to file a tax return has been extended from 30 days to 60 days – and it’s already come into effect from midnight. Commenting on the change, Tim Walford-Fitzgerald, Private […]
Agents slam calls for mandatory register for all landlords
Two recent calls for the introduction of a national mandatory landlord register in England have been rebuffed by agents’ trade body ARLA Propertymark. Timothy Douglas, policy and campaigns officer, says: “Propertymark does not believe that licensing schemes are an effective way of promoting higher quality accommodation in the private rented sector. This is because most […]
Nearly a third of tenants say mental health impacted by renting
Almost a third of tenants in private rented accommodation feel that their living arrangements are impacting their mental health, research by Wayhome suggests. A survey carried out on behalf of the shared equity provider found that 30% of tenants say their mental wellbeing has been affected by their accommodation, up from 24% before the pandemic. […]