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UK needs to build 685 new homes a day by 2020 to meet targets

The UK’s housing shortfall will rise by a further 318,632 by 2020 at the current rate of growth, Aldermore has warned. The lender says the UK’s house building output against the 250,000 figure recommended in the Barker Review in 2004 shows a shortfall of 915,930 houses as of the beginning of 2015. To meet the annual recommended target of 250,000 homes a year, the UK must build 685 homes a…

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New book aimed at growing army of accidental landlords

A national newspaper journalist and her lettings agent husband have teamed up to write a book for the much-underserved generation of accidental landlords. Martina Lees, who writes for the Sunday Times, and Daniel Lees, of lettings agents Swift Property, have drawn on their experiences of becoming accidental landlords to write a guide encompassing the 140-plus laws on letting, tax changes and post-Brexit market jitters. It includes hands-on advice on every…

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Build To Rent Central Housing Group

Use it or lost it – RICS calls for urgent action to free up unused land for affordable housing

Surveyors are urging the Government to do more to free up brownfield and unused land. RICS has highlighted data showing that 86% of surveyors are not expecting to market starter homes within the next 12 months, suggesting that respondents do not see any evidence of a pipeline on the horizon. Ahead of the Housing White Paper and Autumn Statement, RICS also says the government should do more to free up…

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Client Money Protection / house price increases since the end of the 2009 recession

London first-time buyers paying seven times more Stamp Duty

Stamp Duty changes have done little to help first-time buyers and they are now paying seven and a half times the national average in London, haart has warned. Paul Smith, chief executive of haart, is calling for the Chancellor to introduce a Stamp Duty holiday for first-time buyers. Research by the agent highlights the high house prices and rental premiums those living in the capital pay, making it harder to…

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Hammond unlikely to undo Osborne’s tax assault on private landlords

Chancellor Philip Hammond looks extremely unlikely to reverse his predecessor’s ‘Section 24’ tax assault on private landlords in tomorrow’s Autumn Statement. A letter from the Treasury, in response to a report by landlord Dr Rosalind Beck on the impending tax change, says: “The Government stands by the reasons why the change is being implemented.” From next April, the ability of private landlords to set mortgage interest costs against tax will…

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Top agency says government seen as anti-landlord, pure and simple

More than 92 per cent of landlords believe the government is anti-landlord and want the Chancellor to back them in this week’s Autumn Statement. A snap survey conducted by Martin & Co – the UK’s largest lettings and property management franchise business with 190 offices – reveals the anger felt by the majority of landlords surveyed by the agency. Some 783 landlords responded and the most vociferous comments came from those…

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Landlord group hits back at letting agent’s attack on ‘quit’ survey

The Residential Landlords’ Association says it stands by a claim that one in four landlords may sell up, and it refutes an attack on the integrity of its figures by a lettings agent. On Friday Letting Agent Today reported that outspoken north of England agent Ajay Jagota queried the findings of an RLA survey involving some 1,000 buy to let landlords. It found that 25 per cent would quite the…

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Longer term lets Central Housing Group

Tenant Referencing – Top tips for spotting a rogue tenant

A property & rental fraudster who has been jailed for five years shows how important it is for landlords to maintain their guard when interviewing prospective new tenants. Looks and stories can be deceiving and due diligence should ALWAYS be undertaken.  If you take things at face value, you are opening yourself up to significant risk of letting to a rogue, some of whom are serial rental fraudsters. The fraudster, a…

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Is It Haringey Or Harringay?

Harringay Green Lanes is in the borough of Haringey. But hang on a second… why are they spelt differently? We decided to untangle this web of r’s, a’s and e’s — to see where the confusion arose. Like much of London, this name dates back to the Saxon era; Haringey (or Harringay) derives from Haeringes-hege. It denoted the enclosure belonging to the Saxon chief Haeringe. Most Saxon names were smoothed…

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Property Tax NS

Stamp duty reforms are damaging property market and cutting tax take

Stamp duty reforms have slowed the housing market and raised half as much money as the Treasury predicted, it has emerged, amid calls for Philip Hammond to review the tax. The Exchequer received £370 million less in stamp duty than the £700 million it expected following major changes made by George Osborne, new analysis shows. Experts also said it led to a steep decline in property sales and has cost the economy…

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The Top 5 Most Costly Mistakes made by Landlords:

1. Failing to reference and check tenants This is SO crucial.  Once a tenant has been given the keys and starts renting you are stuck with them.  They only way you can get them out, if they fail to leave voluntarily, is after court proceedings which could take months. However if you fail to check your tenant you may find: that everything they told you was a lie that they…

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A quarter of buy to let investors will quit, warns trade body

A survey of 1,000 buy to let investors by the Residential Landlords’ Association shows that around a quarter are saying they will quit the private rental sector because of tax changes. The impact on investors’ financial viability is being caused by the restrictions on mortgage interest tax relief being introduced from April. The study, by the Residential Landlords’ Association, follows a previous survey which found that 56 per cent of landlords will increase…

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A third of tenants have stolen from rented property

Online agency warns tenants’ arrears will worsen next year

An online lettings agency says tenants’ arrears are likely to be the biggest issue facing the rental sector next year unless the government scraps its proposed tax changes for landlords. Despite the proportion of tenants in arrears having improved since the last recession, the agency – Upad – claims it is witnessing the problem grow again. The agency says research from Savills, LSL Property Services and the Ministry of Justice…

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Right to Rent for Central Housing Group

British nationals without a passport face Right To Rent difficulties

Right To Rent legislation means British nationals without a passport face difficulties according to the Residential Landlords’ Association. According to its latest survey of members, some 43 per cent say they are less likely to rent to individuals who do not have a British passport because of the fear of criminal sanctions for getting it wrong. According to the 2011 census – the latest data available – some 17 per…

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Call for ‘referencing passports’ to be transferable between agents

The boss of easyProperty says he wants the Association of Residential Letting Agents to back an initiative for so-called ‘referencing passports’ to be transferable between letting agents. Currently, agents can charge referencing fees if a tenant rents a property listed with them; if they go to another agent, even within a short period of time, they may have to pay again for a similar referencing check. “I’m proposing a referencing…

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Danger of Serious House Price Fall Due to Buy to Let Tax Changes

One in four buy-to-let investors sell up due to new tax

A quarter of buy-to-let investors say they will sell their rental properties as a result of the Government’s draconian tax changes – a move which commentators say could destabilise the property market and cause rents to surge. A survey of almost 1,000 experienced private landlords found that 25pc have already sold, or  are planning to sell, following the Government’s plans to remove their ability to deduct their mortgage interest costs from their rental income…

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Longer term lets Central Housing Group

Tenants admit to taking everything including the kitchen sink from rental properties

Light-fingered tenants have owned up to taking televisions, boilers and even a king-sized bed from rented properties when the time has come to move house. Figures from one insurer recently showed that 30% of renters believe it is reasonable to take things which don’t belong to them when they move house. But it isn’t just pots and pans going missing – with many of those surveyed admitting to taking fridges,…

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There are many questions to ask in the lettings market when investing in rental properties

Where are the current top ten BTL postcodes?

LendInvest has released its latest quarterly research Index on the UK Buy-To-Let market and found that the top 10 is dominated by postcodes found in the South East, with Northampton the only exception. According to the research, Luton in Bedfordshire took top spot, with rental prices jumping nearly 10%, the largest increase in the country. Enfield in North London was ranked third overall, but saw the largest capital gains at…

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Cheaper to rent than buy in 84% of the UK

Credit rating consultancy Experian says it is cheaper to rent than buy in 84 per cent of areas, while it’s cheaper to buy than rent in 13 per cent of locations. Of the 10 places that are in the ‘cheaper to buy than rent’ there are six Scottish locations, three north of England places – including the city of Manchester – and one area of Wales. The data, just released,…

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Key questions to ask when investing in rental properties

London-based property company, Experience Invest, rounds up the most important questions people need to ask when investing in rental properties in the UK. The rental market is one of the most lucrative ways to invest in the property sector. With over 4.5 million tenants in the UK at the moment, and more and more people choosing to live as private tenants rather than homeowners, there’s a captive audience for rental…

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