Rents Soar Across UK, Surpassing £700 per Month for the First Time
According to the latest data released by flatshare website SpareRoom, room rents in the UK continue to skyrocket, reaching new heights in the second quarter of 2023. The report reveals that average room rents surged by a staggering 17 percent compared to the same period in 2022, surpassing £700 per month and setting a new […]
New VAT Regulations to Impact British Landlords with Holiday Rentals in the EU
In a move that will affect British landlords operating holiday rentals in European Union (EU) countries, new regulations may soon require them to pay Value Added Tax (VAT) on their rental income. The rules specifically target landlords who let properties in the EU through digital platforms such as Airbnb and other online services. According to […]
Survey Indicates Declining Landlord Instructions and Falling Buyer Enquiries
The latest RICS UK Residential Survey, released today, has raised concerns about the state of the housing market. Based on the sentiment of surveyors, the survey reveals a net balance of 40 percent of respondents reporting an increase in tenant demand on the lettings side. However, simultaneously, the net balance for landlord instructions has dropped […]
Bank of England Predicts £275 Increase in Monthly Payments on BTL Mortgages
In its latest Financial Stability Report, the Bank of England has revealed a new forecast that projects a significant rise in average monthly payments on buy-to-let (BTL) mortgages. According to the report, landlords can expect their monthly payments to surge by approximately £275 by the end of 2025. The announcement comes as a result of […]
The Truth Behind Angela Rayner’s Claim about Rented Properties and BTL Mortgages
Introduction: During a recent Prime Minister’s Questions (PMQs) session on 5 July, Angela Rayner MP, the deputy leader of the Labour Party, made a claim that caused quite a stir. According to her, most people living in rented accommodation had homes that were purchased through a buy-to-let mortgage. This statement was later echoed by Rachel […]
Urgent Government Action Needed to Support Landlords as BTL Repayments Rise
In light of the latest predictions from the Bank of England, there are growing calls for the government to take immediate action to support landlords in the private sector. According to the Bank’s forecasts, buy-to-let mortgage repayments are set to rise by an average of £275 per month by the end of 2025. The National […]
Interest Rates Could Now Hit 5.5% Next Month
In a bid to tackle soaring inflation and surging wages, the Bank of England (BoE) is contemplating another 0.5% increase in interest rates, a move that could affect millions of borrowers. Analysts suggest that the BoE might replicate June’s surprise half-point hike during the upcoming August meeting, pushing the base rate to 5.5% and triggering […]
Buy-to-Let Arrears Growing Faster Than Homeowner Arrears
A recent analysis conducted by Octane Capital has unveiled a concerning trend in the buy-to-let (BTL) sector, indicating that arrears are worsening at a faster rate compared to homeowners. The study examined industry data on mortgage delinquencies, specifically focusing on cases where the arrears amounted to 2.5% or more of the mortgage balance. Additionally, it […]
Mortgage Payments Set to Skyrocket for Millions of UK Households
Introduction: The Bank of England has delivered a chilling forecast for homeowners in the UK, revealing that mortgage payments are expected to surge by at least £500 per month for nearly one million households between now and 2026. As part of its efforts to curb high inflation, the Bank has steadily raised interest rates from […]
Mortgage Costs Reach Highest Level in 15 Years
Introduction: In a concerning development, mortgage costs have surged to their highest level in 15 years, surpassing the peak reached after the mini-budget. With the average rate on a two-year fixed mortgage deal now standing at 6.66%, a level unseen since August 2008 during the financial crisis, homeowners and potential buyers are feeling the strain. […]