40% of BTL properties as limited companies

Government is forcing more landlords to quit, top agency claims

Belvoir says more landlords are selling up and fewer newcomers are investing in the private rental sector because of increased legislation and punitive taxation policies. The franchise giant is also calling on the government to take urgent remedial action in the Autumn Budget to incentivise those landlords who are providing much-needed good quality accommodation for the UK’s growing tenant population. “Property supply and tenant demand is something that Belvoir has…

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Private sector tenants Central Housing Group

Housing Benefit Row: ‘the system is at fault, not the rental sector’

The ongoing debate over some letting agents and landlords allegedly refusing to accept tenants in receipt of housing benefit has now attracted the attention of the Residential Landlords’ Association. The RLA insists the problem is the fault of the housing benefit system itself, administered by the government, and not the fault of the private rental sector. “The benefits system makes it inherently challenging for claimants to pay their rent in…

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house reflection

Shelter told ‘vilifying letting agents won’t solve the housing crisis’

The National Approved Lettings Scheme has issued a sharp rebuke to Shelter and the National Housing Federation following their controversial ‘End DSS Discrimination’ campaign received blanket coverage across the mainstream and industry media. In a statement, NALS chief executive Isobel Thomson says the majority of lettings and managing agents are professionals who are skilled at managing housing benefit and universal credit tenancies, and who deal with applicants on a case…

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Buy to let_3

Average age of buy to let investors falls dramatically, website claims

The average age of buyers of properties for buy to let has dropped from 52.3 years in 2014 to 42 years now. Rental property website YieldIt says that whilst property investment has traditionally been viewed as a business for older generations who benefit from already having a foothold in the market, this new data suggests a change. Further analysis of the numbers shows that the drop in age is present…

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London, UK - April 8, 2017 - For Sale property agency sign posted outside English terraced houses in Poplar, East London

Three more years of decline in buy-to-let sector, forecasts bank

The buy-to-let sector is set to continue declining until 2021, says a new report, which also forecasts a further price correction in the London housing market. The number of buy-to-let mortgage approvals for purchase dropped in 2016 by 13%, followed by a drop of 27% last year. The new report, compiled by the Centre for Economics and Business Research for Shawbrook Bank, says there will be further falls as the…

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Bill for property condition

London buy to let investors pessimistic over future of sector

Over a third of London investors no longer view property as a good investment, according to a survey of over 1,000 UK investors and 500 High Net Worth Individuals. Recent changes to the tax treatment of buy to let investments as well as the introduction of new regulations by the Prudential Regulation Authority affecting portfolio landlords, have led to many investors now re-evaluating the cost-effectiveness of property as an investment,…

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BTL Landlords Escaping The Sector Central Housing Group

Lettings sector will return to growth – but maybe not until 2021…

A new analysis of the buy to let market forecasts more bad news for agents, landlords and investors over the next three years, before the market stabilises in 2021 and returns to growth in the following two years. The analysis undertaken for the Shawbrook Bank by the Centre for Economics and Business Research forecasts buy to let market activity up to 2023 and compares this projection with a scenario in…

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S21 eviction powers Central Housing Group

Here they go again – Generation Rent attacks S21 no-fault evictions

The campaign group Generation Rent is back on the warpath in opposition of Section 21, which it describes as “the leading cause of homelessness.” The provision allows landlords, or agents acting on their behalf, to evict a tenant with no reason given – it is typically done when a property is to be sold by its owner. Citing new research, Generation Rent says that since 2012 the end of a…

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HMRC Landlords Tax Checks . Central Housing Group

Buy-to-let landlords face 30-day deadline to pay capital gains tax Read more: https://www.which.co.uk/news/2018/08/buy-to-let-landlords-face-30-day-deadline-to-pay-capital-gains-tax/ – Which?

Landlords and second-home owners could be required to pay capital gains tax within 30 days of selling their properties, under new rules being proposed by the government. Currently, people selling second homes or investment properties can postpone paying capital gains tax (CGT) until they file their tax return for that tax year, which could be more than 18 months after the property is sold. But draft legislation, originally announced in…

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London, UK - March 18, 2017: Young women eating and taking a photo of dessert in hand at Street Food Market in Shoreditch, trendy area of London, UK,  famous for youth culture.

How housing has divided the young

Rising house prices have not only left fewer young people able to buy a home, they have also divided them into property “haves” and “have-nots”. Over the past 25 years only a small group of young adults have been able to get on to the property ladder – and this has been getting smaller. A result of rapidly rising house prices, this trend has led to concerns that younger generations will…

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Chancellor Philip Hammond

Note to Chancellor – scrap stamp duty and capital gains tax surcharges

The first of the industry trade bodies to issue a series of demands for this month’s Budget is the National Landlords Association – and it’s insisting Chancellor Philip Hammond takes note of eight key objectives. “The government needs to consider the implications of the policies they have introduced in recent years. Already we have seen landlords start to sell property, which only serves to limit the amount of choice available to…

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Man Holding Smart Phone Showing Credit Score Application On A Screen

Rent payments adding to creditworthiness: more progress announced

The Rent Recognition Challenge, an initiative to use technology to help share renters’ payment histories with lenders and credit reference agencies, has made further progress. The first £600,000 of £2m allocated by government to the project was split equally between six start-ups – RentalStep, CreditLadder, Bud, Canopy, FirstHomecoach and Movem. Now the start-ups have been whittled down to three which will each use the remaining £1.4m share of funding towards…

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Right To Rent Rule for Central Housing Group

Countrywide says London rents down again but other areas rising slowly

The latest figures produced by Countrywide show a slow rise in rents across most of the country with the notable exception of London. The average cost of a new let in Great Britain rose to £964 pcm in July according to the figures, branded from Countrywide’s high-end agency Hamptons International but referring to the wider mainstream rental market. However, the pace of annual rental growth across Britain as a whole continued…

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Flags of the United Kingdom and the European Union.Brexit concept.

Brexit confusion: ‘EU nationals in UK risk losing their rental homes’

A leading trade body says EU citizens living in the UK run the risk of losing their rental homes without swift confirmation of what their status will be after Brexit. An analysis of government data by the Residential Landlords Association suggests that 66 per cent of EU nationals, excluding those from the Republic of Ireland, live in private rented housing. Under the 2014 Immigration Act all EU nationals automatically have…

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Three-year tenancies could be announced next week

Unlawful! Trade body tells another council its licensing plans are illegal

The Residential Landlords Association has told another council that its plans to introduce selective licensing in areas of its town are in part ‘unlawful’. The RLA last month wrote to Great Yarmouth making a similar claim about its plans – now the association has written to Scarborough borough council with a similar accusation. The association says the council in Scarborough wants selective licensing in parts of the Castle and Central wards under…

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S21 eviction powers Central Housing Group

They’re nearly here – new S21 notices come into effect on Monday

Changes to the Section 21 Notice come into force for letting agents and landlords on Monday. This will require all Assured Shorthold Tenancies, regardless of their start date, to comply with guidelines as to when and how a landlord can serve a Section 21 Notice, which enables them to terminate a tenancy agreement. When issuing a Section 21 Notice, landlords and agents will now be required to use Form 6A.…

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Gavel

Caught on camera: Council allows TV to film raid on unlicensed HMO

A London council has agreed to a TV crew taking part in a raid on an overcrowded and unlicensed HMO. The surprise visit by council officers was captured on camera by a crew filming for the Channel 5 series Bad Tenants, Rogue Landlords. Police and Brent council officers entered a two bedroom flat above a shop during a dawn raid and uncovered 16 people crammed inside. Mattresses, bunkbeds and sofa…

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Buy-to-let investor Central Housing Group

“Aggressive practices” against tenant lead to £1,750 fine

A buy to let investor has been fined £1,750 because of his alleged “aggressive practices”. Shafaqat Ali Sadiq, of Derby, has been found guilty at Nottingham Magistrates’ Court of aggressive practices, failing to protect a tenancy deposit and operating a House of Multiple Occupation without a licence. The offences fall under the Housing Act 2004 and Consumer Protection from Unfair Trading Regulations. Nottingham council officers carried out an investigation after…

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"Inspector. Artwork of graphics is mine.  Thanks.   Stamp Duty Land Tax payable to the HM Treasury of HM Government on the purchase of a property. The Tax is payable on all UK property purchased on a percentage of the purchase price over A#125,001. Isolated on White. Good copy space."

Warning – ANOTHER stamp duty threat to buy to let this autumn

A newspaper in warning that the beleaguered buy to let sector may be under attack yet again with the government considering more stamp duty on homes purchased to be let out. James Forsyth, political editor of the Conservative-supporting Spectator magazine, wrote in a guest column in The Sun over the weekend that this autumn’s Budget may see the introduction of yet more SDLT on buy to let purchases. In April…

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Opposition grows to threat of another stamp duty attack on buy to let

Opposition is growing fast to the threat of another stamp duty attack on the buy to let sector, rumoured to be part of government plans for the Autumn Budget in November. Yesterday we reported that influential political journalists in Conservative-supporting publications suggested that government insiders had advocated another stamp duty surcharge for buy to let investors was being considered by Chancellor Phillip Hammond for later this year. In April 2016 his predecessor,…

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