Gavel for rogue landlords central housing group

Right To Rent to be challenged in court this week

The controversial Right To Rent regime whereby agents and landlords are expected to check the immigration status of would-be tenants is to be challenged in court this week. A case brought by the Joint Council for the Welfare of Immigrants claims that the policy is incompatible with the European Convention on Human Rights and must be reviewed before it is rolled out any further. Back in February Letting Agent Today…

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London tenants prefer homeownership Central Housing Group

Landlords self-managing to save money is a false economy, argues agent

An experienced agent claims that forgoing the services of a letting agent to save money is a false economy for landlords. In a guest article for LAT’s sister website, Landlord Today, Jill Griffiths, director of residential lettings for Andrew Granger & Co, explains why letting agents remain a solid investment for landlords. She cites the raft of new rental sector regulations as a key reason for landlords to work with an…

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private tenants central housing group

Government pledges to consult on longer private tenancies

The government has announced that it is to formally consult on proposals for longer tenancies in the private rental sector. Although there has been much debate about the issue, with government and opposition politicians calling for longer tenancies – with industry bodies often in agreement – there has not until now been a formal position put forward by government. However, the Housing Secretary, James Brokenshire, has said in the Commons:…

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Tax

New UK Capital Gains Tax regime ‘unsettles’ investors

A new report commissioned by Intertrust has revealed that nearly two thirds (61%) of real estate investors are concerned by the impact of changes to UK Capital Gains Tax (CGT). The new changes, which are set to be introduced in April 2019, will see non-resident investors pay Capital Gains Tax (CGT) on disposals of all types of UK real estate, extending rules that presently apply to residential property only. The…

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PRS Investors Central Housing Group

Average UK rents drop for the first time in six years

The UK has seen average rents decrease for the first time since 2017 during the first quarter of 2018, according to data from The Deposit Protection Service (The DPS). The latest version of its Rent Index – based on figures from millions of properties across England, Wales, Scotland and Northern Ireland over the past decade – found the average UK monthly rent in Q1 2018 was £772, down 0.54% from…

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The Residential Landlords Association logo holiday lets

Government told – Help us to help older tenants

A trade body has stepped up its calls on government to help the lettings industry do more for older renters. Responding to research by the BBCshowing growing numbers of older people living in private rented housing, David Smith, policy director for the Residential Landlords Association, says that it is unsurprising that older people appear to find it difficult to buy and therefore turn to the private rental sector. “We recognise that…

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Right To Rent Policy Central Housing Group

High Court go ahead for Judicial Review of Right To Rent

The High Court has this afternoon agreed to allow a judicial review of the government’s Right to Rent policy. Right to Rent is a flagship part of the ‘hostile environment’ strategy for illegal immigrants introduced by Prime Minister Theresa May when Home Secretary. Today the Residential Landlords Association supported an application by the Joint Council for the Welfare of Immigrants in the High Court for a Judicial Review of the…

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buy to let lenders central housing group

BBC research reveals concern over rise in older renters

Older people aged 40 and above are now almost twice as likely to be renting their home from a private landlord than 10 years ago, according to BBC research. Analysis by Hometrack’s insight director Richard Donnell, who worked with the BBC on the research, says a focus on young first-time buyers means older tenants, often with children, risk being ignored by the private rental sector. The research reveals: – The…

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Right To Rent Policy Central Housing Group

Right To Rent to be challenged in court this week

The controversial Right To Rent regime whereby agents and landlords are expected to check the immigration status of would-be tenants is to be challenged in court this week. A case brought by the Joint Council for the Welfare of Immigrants claims that the policy is incompatible with the European Convention on Human Rights and must be reviewed before it is rolled out any further. Back in February Letting Agent Today…

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Landlords with portfolios Central Housing Group

Half of UK landlords are cautious of the BTL market

Despite the resilience in the buy-to-let (BTL) market, landlords are taking a ‘wait and see’ approach to assess how the market will adapt to Brexit uncertainty before making further purchases, according to Shawbrook Bank. Its annual ‘BTL Barometer’ revealed the biggest challenges facing investors over the next six months. Landlords cited regulation (22%), interest rate movements (21%) and lending restrictions (16%) as the most taxing. Some 52% of landlords said…

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Rented homes licensing schemes Central Housing Group

Falling rents in London ‘distorts’ picture for the rest of England, Index shows

The average rent for a property in London fell 0.27% in the year to April, weighing down the resilient rental growth in the rest of England (1.19%), according to the latest Landbay Rental Index. The East Midlands and areas in the East of England dominated the top ten ‘rental risers’, with Leicester (3.02%), Nottingham (2.96%) and Northamptonshire (2.44%) revealed as hotspots for rental growth over the last 12 months. These…

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BTL tax changes Central Housing Group

A fifth of investors selling up but most adopt wait-and-see strategy

Buy to let investors are taking a wait and see approach when it comes to additional investment in the sector according to a market monitor produced by Shawbrook Bank. The annual survey reveals the biggest challenges facing investors over the next six months with 22 per cent citing regulation concerns, 21 per cent stating possible interest rate movements and 16 per cent worried about lending restrictions. When it comes to…

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Houses of Parliament 2

Furious industry criticism as government reveals costs of ban on tenants’ fees

The industry has reacted angrily to the announcement yesterday that the Tenants’ Fees Bill is now formally starting its progress through Parliament – and to an estimate of its costs to the industry. An impact statement released with the Bill reveals that costs to agents could in the first full year of the ban – set to start in spring 2019 – be around £157.1m. It also concedes there could be…

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Meter for landlord purchases

Confidence in buy to let sector remains stable despite recent upheavals

Buy to let sector confidence across a range of measures remained stable or increased in the first quarter of 2018 compared with the end of last year, according to a recent survey of 1,043 landlords carried out by BDRC on behalf of Paragon. While still weak compared with historic levels, this quarter’s figures make welcome reading after a sharp dip in confidence following the announcement of new tax measures for…

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ARLA-PropertyMark-400x310[1]

Confirmed – mandatory Client Money Protection for all agents from next April

The government has confirmed that all property agents in England will need to be part of an approved Client Money Protection scheme by April 1 next year. “After a long fight, ARLA Propertymark’s campaign for mandatory Client Money Protection is finally won. With the help of Baroness Hayter of Kentish Town, and cross-party consensus in the House of Lords, this is a vital step forward in improving consumer protection in…

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Rental Rights: Right to Rent scheme

‘Change Right To Rent’ new Home Secretary is urged by trade body

The new Home Secretary Sajid Javid is being urged to look again at the Right To Rent policy and produce “a more practical, workable system.” The request has come from the National Landlords Association which has wasted no time in writing to Javid – who was appointed only on Monday morning – to outline its concerns regarding Right to Rent. The NLA says there is justification to review the policy…

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buy to let investor fined £12000

£7,000 fine for buy to let investor failing to honour Improvement Notice

A buy to let investor faces a fine of £7,000 plus costs and a victim surcharge for failing to upgrade his letting property in line with an Improvement Notice served by the local council. Kettering council received a complaint from the tenant of a property in the town, which was run by Zoe Tuffen-Roberts; the council alleges that she failed to remedy issues agreed with the tenant at the start…

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Miniature model house standing on a stack of coins.

Serious investors ramp-up while accidental landlords sell-up, report shows

New research from Simple Landlords Insurance has revealed accidental and part-time landlords feel most negative about legislative changes and their future. The data, which focused on the ‘emerging landlord’, unveiled a polarisation in attitudes towards the private rented sector. Those with larger portfolios, however, feel more positive about the future and are more likely to increase their property investments. Landlords with two or more properties (30%) said they plan to…

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buy to let lenders central housing group

‘Hidden’ Baby Boomers suffering in private rental sector, claims housing group

Up to 500,000 so-called Baby Boomers have been hit by allegedly unaffordable rents and a lack of appropriate housing for older people. That’s the claim made by the National Housing Federation which says that last year 44 per cent of private renters in England aged 50 and over – almost 500,000 people – were forced to make potentially drastic decisions to cover the cost of their rent, including borrowing money from…

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Rented homes licensing schemes Central Housing Group

Massive surge in buy to let mortgage choice – now over 2,000 products

The number of buy to let mortgage products on the open market has passed the 2,000 mark for the first time. This is despite the onslaught of fiscal changes, new regulations and uncertainty facing the buy to let sector. Moneyfacts, the independent mortgage market monitoring service, says there are now 2,022 different BTL mortgage productions – an increase of 464, equivalent to well over 20 per cent, in just one…

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