Landlords Facing £3m Coronavirus Rent Crisis
A coronavirus cash crisis is gripping the lettings industry as thousands of tenants have failed to pay rent during the lockdown. The courts face a backlog of more than 2,400 cases involving rent arrears of £3 million generated since the eviction ban started in March,...
Buy to Let Rents Still Rising Despite Coronavirus Impact
The impact of the coronavirus pandemic on the rental market seems minimal, according to the latest official figures. The Office for National Statistics says private tenants saw rents across the country rise by 1.5% in the year ending May 31 – the same rate as in...
Lawyer Fined £10,000 for Failing Offplan Property Investors
A property lawyer who did not outline the risks of staking cash in offplan buy to let investments was fined £10,000 by his professional body. David Hayhurst, senior partner of now defunct 174 Solicitors Ltd, of The Wirral, Merseyside, was handed the fine and a bill...
Regulations Allowing Viewings in Wales Published
The latest amended version of the The Health Protection (Coronavirus Restrictions) (Wales) Regulations 2020 have been published. As previously announced, they include provisions relating to moving home and ancillary services such as preparing a home for rent or...
Electrical Regulations for Landlords (England)
Under Part 5 of the Housing and Planning Act 2016, provision was made to allow for legislation to be created for electrical safety standards in private rented property....
When is an Electrical Report Required on a New Tenancy?
As previously reported, from 1 June 2020, new electrical regulations requiring periodic inspection and testing commenced for almost all rented property in England. However, there is some confusion when the “first” inspection and test report must be conducted...
Coronavirus Ban Eases for Landlords in Wales
Landlords in Wales can accept viewings and let tenants move if homes are empty as the coronavirus pandemic ban is partly lifted. The Welsh Government is still cautious about a resurgence of the disease but wants to try to return the housing market to normal as soon as...
Property Profits Fall for Landlords Selling Buy to Lets
Landlord property profits when they sell a rented home are dropping, according to the latest data. Property investors are thought to have sold around 150,000 homes in England and Wales during the past year making an average £78,100 gain. The analysis by property...
Five-Year Ban for Landlord Convicted of HMO Failings
A property tribunal has handed out England’s second banning order to landlord Mahmut Gilgil after his conviction for running an unsafe shared house above a kebab shop. Gilgil, 42, from Poole, Dorset, received a five-year ban that stops him renting out or managing a...
Landlords Urged Not to Take Mortgage Holidays
Taking a buy to let mortgage payment holiday could trigger problems for landlords looking to remortgage or invest more money in their property businesses. Consumer champion Which? claims some lenders are rejecting mortgage applications if landlords have taken...
Property Raffles Are a Gamble for Sellers
Taking a chance on raising cash from raffling a home could end up with the owner facing illegal lottery charges.
Property Passports Move Closer as Secret Data Revealed
Tracking how landlords keep private rented homes is about to become easier as the government issues every property with a unique reference number. The government already uses confidential Unique Property Reference Numbers (UPRNs) to tag official data about every home...
Tax Man Chips in to Help Landlords Find Mortgages
Proving income is often a problem for landlords looking to buy a home to live in or rent, so for once the tax man is offering some help. HM Revenue & Customs has published a list of the 60 lenders who will accept printouts of tax forms as evidence of income. The...
Evictions Suspension to Be Extended for Two Months
The government has announced that the current suspension on possession proceedings is to be extended until 23 August 2020. In the announcement made last night, Housing Secretary Rt Hon Robert Jenrick MP said: We have provided an unprecedented package of support for...
Tenant Fee Ban Now Covers Old Tenancies
The tenant fee ban for landlords and letting agents letting residential property in England has now expanded to include most existing tenancies. Landlords must not charge tenants any fees on the banned list from June 1. Until then, the ban only applied to new...
No New Laws for Holiday Let Landlords, Reveals Report
Landlords with holiday letting businesses in England are likely to see a hands-off approach with no extra regulation, according to a new report. Ministers want to improve standards but feel working with landlord bodies is the way forward rather than imposing tough new...
Electrical Testing Guidance Published
From 1 June 2020, the electrical regulations commence
Homebuyers Shrug Off Lockdown Worries as Market Reopens
House buyers and renters are looking to move home after the lockdown ban temporarily closed the property market. The latest data from online housing portal Zoopla shows 60% of people wanting to move home want to go ahead with their plans. The figures show that the...
Landlord Confidence in Buy to Let Falls to Record Low
One of Britain’s leading buy to let mortgage lenders has lifted the lid on what landlords think about the lettings market for the first time. The Mortgage Works (TMW) is the property investment arm of building society Nationwide. The lender’s research shows landlord...
Lockdown Rents Rise as Tenant Demand Evaporates
Lockdown buy to let rents have continued to grow on trend, according to the latest official figures. Private renters saw the cost of a new home rise by 1.5% in the year to the end of April and 1.4% between March and April, says the Office of National Statistics. In...
Coronavirus Guidance
Landlords Building Insurance
Guild subscribers can get preferential rates for landlords buildings insurance especially designed for landlords
