UK Capital Gains Tax Central Housing Group

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 UK Capital Gains Tax (CGT) on disposals of all types of UK real estate, extending rules that presently apply to residential property only.…

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UK rents drop Central Housing Group

Average UK rents drop for the first time in six years

The average UK rents drop 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 Q4 2017…

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The Residential Landlords Association logo holiday lets

Help us to help older tenants in long term tenancies

A trade body has stepped up its calls on government to help the lettings industry do more to help older tenants in long term tenancies. Responding to research by the BBC showing 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…

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Judicial Review of the Right To Rent Policy

High Court go ahead for Judicial Review of the Right To Rent Policy

The High Court has this afternoon agreed to allow a Judicial Review of the Right To Rent Policy introduced by the government. 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…

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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 Regime CHG

Right To Rent regime 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 Right To Rent regime policy is incompatible with the European Convention on Human Rights and must be reviewed before it is rolled out any further. Back in…

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BTL Market 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 Market 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…

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Rented homes licensing schemes Central Housing Group

London rents distort picture in England Landbay Rental 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 B-T-L investors selling up but most adopt wait-and-see strategy

B-T-L 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 regulatory challenges,…

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Tenants Fees Bill Central Housing Group

Furious industry criticism as government reveals costs of ban on Tenants Fees Bill

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 Tenants Fees 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…

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Buy to let market Central Housing Group

Confidence in buy to let market remains stable despite recent upheavals

Buy to let market 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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Client Money Protection Scheme Central Housing Group

Confirmed – mandatory Client Money Protection Scheme 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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Right To Rent Legislation Central Housing Group

Change Right To Rent legislation 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 legislation 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 Central Housing Group

£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 of the…

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Accidental landlords for Central Housing Group

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

New research from Simple Landlords Insurance has revealed part-time and accidental 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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Baby Boomers suffering in private rental sector

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

Up to 500,000 so-called Baby Boomers suffering in private rental sector 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…

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Buy to let mortgage choice Central Housing Group

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

The buy to let mortgage choice of 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 buy to let mortgage choice productions – an increase of 464, equivalent to well over 20 per cent,…

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Right To Rent Rule for Central Housing Group

Change Right To Rent rule 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 rule 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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Tenant Fees Bill Central Housing Group

Tenant Fees Bill will cost landlords £82m

The Tenant Fees Bill 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 fees.” It…

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Carbon Monoxide regulations for Central Housing Group

Government launching another review of Carbon Monoxide regulations

The government has announced that it’s launching a review into the requirement for carbon monoxide regulations 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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