House price growth slows but still clocks 10% gain
House prices moved up by 10.2% on an annual basis in October, show new figures from HM Land Registry. This compares to a 12.3% increase seen in September. On a monthly basis there was a slight softening too, with house prices ticking down by 1.1%. This brings the average property price in the UK to […]
Borrowers should lock in rates now to avoid Bank of England policy changes
Borrowers who are uncertain about probable interest rates rises should be locking in their rates now, according to Emma Cox, sales director at Shawbrook Bank. She made her call at a time of ongoing uncertainty around Bank of England (BoE) policy, high inflation and the continuing threat of the COVID-19 Omicron variant. The BoE has […]
Understanding the possession action process: A guide for private landlords in England and Wales
This guide is for people who are letting a house, flat or any part thereof in England and Wales to tenants in the private rented sector while living in another property. This guide is focused on landlords letting to tenants on an Assured Shorthold Tenancy or an Assured Tenancy. This guide will help you to […]
Chaos for landlords as Purplebricks evictions rendered invalid
Landlord customers of beleaguered estate agent Purplebricks face more chaos and thousands of pounds in costs as hundreds of evictions running through the courts risk being dismissed. This comes after a systematic error by Purplebricks where it failed to properly serve documents to tenants regarding the government’s deposit protection scheme. Failure to do so has […]
Many tenants spend over £1,000 decorating landlord’s property – claim
A lettings platform claims a substantial number of tenants spend over £1,000 on decorating their landlord’s property. Flatshare platform SpareRoom claims that with renters spending more time at home, and rising house prices making ownership less likely, some 34 per cent of tenants in a survey have spent their own money making their landlords’ houses […]
How can letting agents improve their reputation?
How can agents improve their position in society? A report has been published following a roundtable discussion between prominent agency figures looking at how the industry can do exactly that. Making the compliance burden easier to manage, focusing on those agents who fail to comply, creating a robust complaints procedure, and shouting about the industry’s […]
Two thirds of FTBs rejected for mortgage as Covid worsens financial woes
Many more first-time buyers have been rejected for a mortgage since the start of the pandemic than before, a survey of potential homebuyers has revealed. Only one third (35%) were able to get a mortgage at their first attempt – which is significantly less than the 48% who were accepted before Covid struck. The survey […]
EPC Targets – government tipped to give landlords an extra year
It’s being reported in the mainstream press that the government may give landlords an extra year to make rental homes more energy efficient. This would shift the deadline for rental property EPCs to be a minimum of band C from 2025 to 2026 for new lets. The planned deadline for existing lets to be upgraded […]
Agents concerned over ‘shrinking private rented sector’
Buy-to-let landlords are leaving the private rented sector at an alarmingly high rate, and the government is not taking the situation seriously, letting agents fear. A snap survey of district councils shows that 76% of councils have seen an increase in landlords selling up properties, despite the growing housing shortage in the rented sector. Shortages […]
Buy-to-let activity up 83% in 2021
2021 is set to be a record year for mortgage lending, according to data released by UK Finance this morning, with projections for how the market performed in 2021 revealing that gross lending overall will peak this year at £316bn, a 31% rise on 2020. According to the figures, total house purchase transactions (including cash […]