Bank of England: 4m mortgages to rise next year
“Significant pressure” will be placed on the ability of households to meet their debts as monthly payments on around 4 million mortgages are expected to increase over the next year. The Bank of England said in its Financial Stability Report that economic conditions had deteriorated, with UK households being “stretched” by rising interest rates and soaring inflation. […]
Property remains one of the most reliable assets amid current economic chaos
A lot has been said about the future of property values. Following years of COVID-fuelled price booms, the economic uncertainty that much of the world now faces has led many commentators to suggest that property no longer provides the stable investment that it has for so long. However, in a world of economic chaos and […]
Local authorities failing to support landlords with anti-social tenants
The police and local authorities are failing to take effective action to tackle anti-social behaviour among tenants, according to new NRLA research which warns that the abolition of section 21 is set to make tackling the problem even harder. According to the National Residential Landlords Association, of those private landlords who have served a repossession […]
Average rents up by as much as 15% since last Christmas
Christmas is predicted to be a struggle for many tenants this year. Along with the rest of the nation, they’re dealing with a cost of living crisis, driven by rising energy prices. However, for those who rent, this financial pressure is also compounded by the rising price of rent. The latest insight into the UK […]
Revealed – real reasons why landlords evict rogue tenants
Research by the National Residential Landlords Association reveals that of those private landlords who have served a repossession notice, half have done so because of a tenant’s anti-social or criminal behaviour. The data shows that of this group of landlords no less than 84 per cent have not received any assistance in tackling such behaviour […]
Landlords want more guidance on proposed EPC regulation
While the vast majority (78%) of landlords are aware about government proposals around EPC ratings, a similar proportion (73%) think that the government has done a poor job at communicating the proposed EPC changes. New research from specialist lending bank Shawbrook has shown that a lack of information appears to be a key issue for […]
PRS concerned that soaring tenant demand will fuel rise in rogue landlords
A ‘perfect storm’ of low housing stock, rising unaffordability of owner-occupier mortgage costs, and soaring tenant demand for rental homes is causing concern for landlords as they seek to maintain viable investments. The findings come from snap poll data by GetGround and reveal that 50% of respondents to a recent survey of landlords operating throughout […]
Newly listed property prices dip by £7,862: Rightmove
The house price index data found that this is a bigger dip in new asking prices than is usual at this time of year. At the end of 2022, average asking prices are 5.6% higher than at this time a year ago, only slightly below the 6.3% growth recorded in 2021. Rightmove suggests that economic […]
Government finally admits it – there aren’t enough homes to rent
It appears that the government has finally woken up to the fact that there are too few rental homes to meet demand as a result of landlords quitting because of high tax and red tape. In a letter to the Levelling Up, Housing and Communities Committee, the junior housing minister Felicity Buchan writes: “I recognise that […]
Interest Rate Rise – more bad news expected
The Bank of England’s monetary policy committee meets again this week with a further interest rate rise likely if base rate is increased yet again. Official inflation figures are due out on Wednesday and then the MPC meets 24 hours later. Most financial commentators predict a base rate rise by 0.5 per cent to 3.5 […]