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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Rented homes licensing schemes Central Housing Group

‘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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Councils unlawful licence fees . Central Housing Group

Tenant Fees Bill will cost landlords £82m

The new ban on tenants fees will cost landlords £82.9million in the first year, it was revealed today, with letting agents paying £157.1m. The figure was included in the Government’s official response to the HCLG Select Committee’s report on the draft Tenant Fees’ Bill. The full response, which has been published here, includes an impact assessment stating: “The main costs fall on landlords and letting agents as a result of the ban on tenant…

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Carbon Monoxide Alarm Attached to Wall in House.

Government launching another review of Carbon Monoxide regulations

The government has announced that it’s launching a review into the requirement for carbon monoxide alarms in homes across England. The review will address whether alarms should be required for all methods of heating, including gas and oil, the cost of alarms and new research on deaths caused by carbon monoxide. There has already been a recent formal government consultation specifically into smoke and carbon monoxide alarms in the private…

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Universal Credit Tenants Rent Arrears for Central Housing group

73% of Universal Credit Housing Association tenants in arrears!

A staggering 73% of Universal Credit (UC) tenants that rent from Housing Associations are in arrears compared to only 29% not on UC. No wonder 62% of private landlords are unwilling to let to UC claimants. These figures have been collated by Sky News using figures from the National Housing Federation for their Line 18 investigation into welfare. 43 Housing associations were surveyed and one said that 90% of UC tenants were…

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Way around future deposits cap

Britain’s landlords and investors remain positive despite raft of changes

Despite challenging buy-to-let (BTL) conditions, private landlords remain positive about the future of the industry, a new report from specialist bank, Aldermore has revealed. More than two in five (44%) of those surveyed believe the private rental sector will grow, with one in six (17%) looking to expand their own BTL portfolio over the next year. This is in spite of predictions the market will shrink. What’s more, some 41%…

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mortgage interest relief central housing group

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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Rice-Land-flats-6(fireman LL blog post)

Rogue Manchester landlords to have properties bought off them

City’s Labour mayor Andy Burnham says landlords who can’t achieve minimum standards will be offered way out, but not at market value. Landlords in Manchester who are reluctant to bring their properties up to the minimum standard will be helped to exit the market by having their buy-to-let properties bought from them, its Mayor Andy Burnham has revealed. The former Labour front bencher and MP says the measure is part…

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house on money

SPVs Are Becoming Increasingly Popular For Landlords Increasing BTL Portfolios

Landlords have found a new tax efficient method of keeping hold existing BTL properties and funding additional acquisitions. A bridging lender company claims that many landlords are opting to use a SPV (Special Purpose Vehicle) to help them offset the new tax changes and tougher lending rules. Landlords with four or more mortgaged properties, wishing to expand their portfolios, are facing stricter measures when applying for new BTL mortgages and…

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For sale

No Doom And Gloom For Landlords As Remaining Confident

Landlords are indeed a ‘resilient lot’ because in spite of the BTL tax changes and stricter lending criteria they are still extremely confident about the private rented sector Private Rented Sector (prs) is housing that is privately owned and is let tenants. According to a bank’s annual ‘BTL barometer’ report – 65% of landlords are very positive about the market and only 14% of buy-to-let investors are worried about how…

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Tenants happiness for Central Housing Group

One Third Of All Landlords Are Not Up To Speed On New BTL Mortgage Rules

Apparently one in three buy-to-let investors remains unaware of the new mortgage regulatory changes. They do not know what the effects will be if they wish to re-purchase their property or acquire new properties. The new BTL mortgage criteria were first introduced in September 2017 and make it far harder for landlords with four or more properties to be accepted for a new mortgage application. A recent study undertaken by…

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Credit score Central Housing Score

Number Of UK Landlords Rises To 2.5 Million

According to the latest research from an estate and lettings firm that shows in spite of all the tax changes that the buy-to-let sector has and is suffering from, the private rented sector is still encouraging new landlords into the market. The stricter lending regime and tax crackdowns have not put new and existing investors off and the research’s new figures from the HMRC data shows that between 2015-16 numbers…

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labour_party

Labour pledges ‘living rent’ at one third of local average income or less

Labour insists that if it forms the next government it will introduce ‘living rents’ in a new range of affordable homes that will be “well below market rent levels”. In its new housing policy – launched as part of its local election campaign ahead of polls on May 4, but containing pledges should the party win the next General Election – Labour says that it will build up to 100,000…

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For sale

‘Over half BTL investors to sell some properties’ – claim

Specialist funding platform Property Partner has conducted a survey which suggests that 54 per cent of landlords are selling all or some of their properties. One of the key reasons is the phased reduction of mortgage interest tax relief introduced last April: 64 per cent of BTL investors have had their finances negatively impacted by the mortgage interest relief changes. Some 59 per cent say they have been hit by increased stamp…

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For sale

‘Over half BTL investors to sell some properties’ – claim

Specialist funding platform Property Partner has conducted a survey which suggests that 54 per cent of landlords are selling all or some of their properties. One of the key reasons is the phased reduction of mortgage interest tax relief introduced last April: 64 per cent of BTL investors have had their finances negatively impacted by the mortgage interest relief changes. Some 59 per cent say they have been hit by increased stamp…

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