Tenant Demand Is Drying Up, Says Buy to Let Lender
Buy to let tenant demand is stagnating and stands at the lowest level for six years, according to research by a leading lender. The study by The Mortgage Works, the buy to let arm of the Nationwide Building Society, shows 37% of landlords report no change in tenant...
Longer Tenancies Could Backfire on Problem Renters
Politicians, lobby groups and the buy to let industry seem to have a different view of how longer tenancies will help private renters. The government, backed by housing charities and think tanks, wants to extend tenancy terms from 12 months to 36 months to give...
Letting Agents See More Tenants but Have Fewer Homes to Rent
Tenant demand for private rented homes has hit the highest level this year, according to new data. Inquiries from renters seeking a new home have climbed by 13% year-on-year, says the latest report from letting agent trade body ARLA Propertymark. But the number of...
Buy to Let Will Bounce Back in Five Years, Predicts Bank
Buy to let will continue to suffer from a tax crackdown over the next three years before bouncing back to growth, argues a new economic report. The ‘dampening’ of the market forecast by Shawbrook Bank coincides with the phasing in of more cuts to mortgage interest...
Buy to Let Rents Stuck in a Rut
The cost of renting a buy to let home is standing still, according to the latest official figures. Rents paid by private tenants increased by 0.9% in the year to the end of July 2018, reports the Office of National Statistics - down from 1% in the 12 months to the end...
Judges Rule Council’s HMO Licence Fees Unlawful
Landlords may be overpaying shared house licensing fees and could claim hundreds of pounds in refunds from local councils, according to a ruling from the High Court. The shock decision came from a legal challenge by landlord Peter Gaskin, who refused to pay £1,799...
Landlord Crammed 40 Tenants in Dilapidated Former Pub
A landlord ended with a £15,000 court bill for shoehorning 40 tenants into a dilapidated former pub. Hayden Rogers failed to turn up before magistrates at Mold, Flintshire, to plead to 12 breaches of house in multiple occupation regulations. He was convicted and fined...
Buy to Let Landlord Confidence on the Rise
Landlord confidence in the state of the buy to let market is rising - but the underlying indicators are wildly different between regions. A study for buy to let mortgage lender BM Solutions shows the feel-good factor for landlords across the country has reached an...
Landlords Want IHT Scrapped for Passing on Homes
A detailed survey into buy to let and the wider housing market has provoked a split reaction. In almost all the categories, the responses were split almost down the middle - except the answer to one question. When owners of more than one home were asked if inheritance...
Ombudsman Services Ceases to Be a Redress Scheme From 6 August 2018
All letting and managing agents in England must belong to a Redress Scheme since 1 October 2014. Currently, there are three schemes suitable for compliance with the legislation and one of those is Ombudsman Services. However, this scheme has previously announced that...
Buy to Let Rents Stagnating, Say Official Figures
Buy to let rents are stagnating with no movement since April, according to the latest official statistics. Private renters saw rents maintain their 1% rise in the year to June 30. Within the UK, rents in England were up 1%, while Wales saw an increase of 1.1% and...
Councils Crack Down on Bogus Landlords Ripping Off Tenants
Councils are cracking down on tenants ripping off other tenants by posing as bogus landlords often in death-trap properties. One tenant running a sub-letting scam in London was fined £20,000 for breaking shared house management rules and health and safety breaches. A...
Letting Agents Are Letting Down Tenants, Says Watchdog
Letting agents regularly neglect to tell potential tenants about important health and safety aspects of renting a home, according to a new study. Consumer watchdog Which? sent mystery shoppers on 30 undercover viewings in five cities with a checklist of questions to...
Landlord Licensing Scheme Nets 32,000 Homes to Rent
The UK’s second largest landlord licensing scheme is about to launch. Councillors in Nottingham are putting the final touches to a selective licensing zone that covers an estimated 32,000 private rented homes across the city. The largest scheme started in January...
Buy to Let Rents Up 1.8% in a Year
Buy to let rents increased by 1.8% to an average £924 a month in the 12 months to the end of June, according to the latest statistics. Landlords in two regions saw rents drops - a fall of 0.8% in the North East and 0.2% in Wales. Rents in London saw a sharper rise by...
Tax Changes Lead to Fewer Buy to Lets and Higher Rents
Fewer landlords are buying properties to rent with buy to let mortgages, according to the latest figures from lenders. Trade body UK Finance says buy to let mortgages to purchase a home dropped by 10% during May this year compared with May 2017. Just 5,500 properties...
Happy Tenants Seem at Odds With Housing Campaigners
Millions of private renters disagree with housing campaigners about the state of their buy to let homes. The lobby groups and housing charities claim rogue landlords take advantage of their tenants, but the latest government survey shows 84% of private tenants are...
Knotweed Suffers From Fearsome False Reputation
Landlords should not avoid buying homes with blighted prices because their gardens are infested with the feared Japanese Knotweed. A new study rubbishes the current thinking that the demon weed can destroy homes by growing through concrete. Experts from Leeds...
AirBnB Loophole Plugged for Landlord Tax Cheats
New rules are on the way to stop landlords and property owners pocketing tax-free cash on bed-and-breakfast and holiday let income. Rent-a-room relief was aimed at helping home owners let their spare rooms in a bid to reduce the housing crisis. Instead, many have...
Repeal Section 21, London Politicians Demand
The London Assembly is urging the government to repeal laws that they say allow landlords to evict tenants for no reason. Members voting for the measure claim Section 21 no-fault evictions lead to insecurity and stress for private tenants in the capital and can stop...
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