Landlord purchases are at an all-time low. According to figures released by a leading property agent, the value of landlord acquisitions has dropped by £5.2 billion since 2015. Landlords spent £12.1 billion in the first half of this year, compared to £17.3 billion in the same period of 2015. The number of home purchases is […]
When George Osborne announced he was removing mortgage interest tax relief in 2015, landlords were in an uproar. Many experts claimed that tax cuts would make it impossible for landlords to make a profit, which would drive down the supply of rental housing and increase rents. “Landlords will seek to recoup their costs by hiking […]
Croydon Council has pledged support to the campaign calling for an end to Section 21 notices. The campaign, headed up by Generation Rent, ACORN, and other pressure groups, is asking the government to end a landlord’s right to evict a tenant using a Section 21 notice.
NatWest’s Heartless T&C’s A recent story in the press has highlighted the dangers of not checking your mortgage provider’s lending T&Cs. The landlord, upon advice from a mortgage broker, took out a NatWest mortgage on her rental property. When she applied for a further advance on her mortgage, she was stunned when the bank told […]
With 40% of young people unable to afford to buy a home, the housing market is in crisis. Chancellor Philip Hammond may have to come up with a few innovative ideas to solve the affordability problem. One such solution would involve offering landlords tax breaks if they sell their properties to sitting tenants. Could this […]
There have been calls by some experts for the introduction of a property MOT, to be carried out once a year by landlords. The theory is that this would deter rogue landlords and provide extra peace of mind to tenants.
Rogue landlords often try and squeeze as many tenants as they can into one property. The more tenants they have, the more rental income they earn. Usually, safety is not a priority, so living conditions can run the gamut from cramped to downright dangerous.
From next month, eviction rules are changing. Landlords with older tenancies – predating October 2015 – will have to abide by Section 21 if they want to evict a tenant. Currently, Section 21 only applies to tenancies that began after October 2015.
Increasing government pressure on the sector is pushing many landlords to sell up and quit. As the number of buy to let properties decreases, demand for rental housing increases and rents go up. The economics of this are stark. Fewer available properties mean higher rents, which has a knock-on impact on tenants. Now, the figures […]
A property management firm boss has had charges against him quashed thanks to the landlord software he used to run his business. The landlord had been ordered to pay more than £20k in fines and costs relating to nine HMO offences. He appealed against the ruling and when his case was examined by appeal court […]
New HMO rules come into effect on 1 October and landlords are being warned to pay close attention, to ensure they don’t fall foul of the regulations. Landlords who fail to comply with the new rules could end up paying a hefty fine to the tune of £30k. They could also be prosecuted.
Research carried out by Safe Deposits Scotland has found that 55.8% of tenants have no idea that they can challenge deductions made from their deposit by a landlord. The study also found that 36.4% don’t know how to claim their deposit back, which is a bit worrying.
Landlords are increasingly using a variety of tools at their disposal to check up on potential tenants before they offer them a tenancy agreement. A study by a leading home loans company has found that 11% of landlords use Facebook to screen would-be tenants before they let them move in.
Nottingham landlords with HMOs are facing rising costs. The price of a landlord licence for properties with more than four tenants in occupation is set to rise by £420. Landlords who are ‘less compliant’ will have to pay even more.
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