The current climate is not an easy one for UK landlords. After a decade of increasingly hostile legislation, landlords must now face up to the likelihood of declining house prices, tougher borrowing requirements and deteriorating economic conditions. Unfortunately the situation for Scottish Landlords is even more bleak. On the 6th of September, First Minister Nicola […]
It may well be time to batten down the hatches and prepare for an oncoming housing storm. The Bank of England (BoE) recently released updated guidance suggesting that the UK economy is likely to experience a prolonged recession, with up to five consecutive quarters of negative growth.
One of the headline policies of the government’s recent Renters Reform Bill has been the proposed abolition of ‘no-fault’ Section 21 Notices. The announcement doesn’t come as much of a surprise, having been first put forward as far back as April 2019. The Conservative government have consistently stated their manifesto commitment to the abolition of […]
On July 7th, Boris Johnson announced his intention to step down as leader of the Conservative Party and to resign his position as Prime Minister of the United Kingdom once a new leader has been chosen. Irrespective of who is chosen to become the next leader of the Conservative Party and the United Kingdom, one […]
This White Paper starts the process for new legislation leading to consultation and the publication of a Bill that will go through the Houses of Commons and Lords before receiving Royal Assent. In other words, it will be some time before we see any changes and there is still time to make our MPs aware […]
Conventional wisdom in the UK has always held that it is better to save up to buy your first property than to rent one. The logic being that purchasing a home gives aspirational families security and a stake in society. However, this logic fails to account for the many benefits of renting and the flexibility […]
Rightly or wrongly, it is a widely held belief that homeowning voters tend, on average, to be conservative voters. It is perhaps with this in mind, that has led Boris Johnson to propose an expansion of the government’s Right to Buy Scheme. The Prime Minister hopes to extend the Right to Buy Scheme to include […]
There have been a lot of updates so far on legislation that is aimed at governing the private rental sector. In turn this will have an impact on landlords. In today’s post Mary Latham will be explaining what landlords can expect to see on the horizon this year.
House prices could be set to fall by as much as 5 percent over the next two years as inflation and rising interest rates begin to take their toll. Capital Economics, a leading independent economic research firm, is now forecasting that house prices will l drop by 4 percent overall by the end of 2024. […]
On 13th April the Public Accounts Committee published its 49th report of 21-22 Session – Regulation of private renting. It’s important to keep an eye on these reports because they often lead to more legislation and it’s good to have an early warning. This report is very upfront, as can be seen from the title, […]
A recent survey of homebuyers found that nearly two-fifths had seen their property purchases fall through due to mortgage delays. Butterfield Mortgages Limited commissioned an independent survey of 690 homebuyers, with 38% having experienced mortgage delays that resulted in their purchase falling through. The survey highlighted that over half (51%) of respondents believe that the […]
There are a couple of issues that are cropping up at the moment: The landlord has decided to sell the property but there is a tenant in place. The government is making an offer for us to offer a home to people coming from Ukraine.
The Bank of England has voted to raise interest rates for the third time in four months. The Monetary Policy Committee voted almost unanimously to increase the bank rate from 0.50% to 0.75% on the 17th of March. The decision means that interest rates will return to their pre-pandemic levels, the highest level since 2009.
The government has revealed major plans to “level up” England dealing with issues like unemployment and local economies with the aim to close the North-South divide. In a White Paper, published in February, they laid out their plans to achieve this. There is mention of a Landlords Register and the loss of Section 21 but […]
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