National Registration for Short Lets - Central Housing Group

Message To Gove – ditch the rhetoric, give us details

The main landlord body wants more details behind the soundbite rhetoric of the Renters Referm Bill, launched today in Parliament. Ben Beadle, chief executive of the National Residential Landlords Association, says: “Responsible landlords need to be confident that when Section 21 ends, where they have a legitimate reason, they will be able to repossess their properties as quickly as possible.  “Without this assurance, the Bill will only exacerbate the rental housing…

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Landlords Quitting Buy To Let Central Housing Group

Thousands of tenants missed rental payments last month – Which?

An estimated 700,000 households across the UK missed rent or mortgage payments in April, according to the consumer body Which? It has based the claim on a survey of 2,000 people by Yonder, which indicated that around 2.5 per cent of households had missed or defaulted on a housing payment in the previous month. Missed housing payments were particularly high among renters with 5.2 per cent, or around one in…

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DPS Survey Central Housing Group

Economists tell government – rental reform will backfire

A prominent group of economists has predicted the measures in the Renters Reform Bill will backfire on the government. Matthew Lesh, Director of Public Policy and Communications at the Institute of Economic Affairs, says: “Making it harder to evict residents is only likely to make it harder to rent.  “Landlords will inevitably be more selective about who they offer properties to and charge higher rents when they cannot quickly evict…

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Stamp Duty Deadline Central Housing Group

Stamp Duty Surcharge: Labour considers raising it even higher

Labour is considering raising the buy to let and holiday home stamp duty surcharge above the current three per cent if it wins power at the General Election. An online announcement by two Labour parliamentary candidates claims that shadow housing minister Matthew Pennycook is considering “raising the three per cent stamp duty surcharge for second homes.” The statement comes from Jayne Kirkham, candidate for Truro and Falmouth, and Perran Moon candidate…

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Median Rents Central Housing Group

‘Housing policy must go beyond electoral cycles’ – White Paper

Stamp Duty should be waived for downsizers and we should scrap archaic terms such as ‘landlord’ and ‘tenant’ and change them to ‘property owner’ and ‘resident’. The affordability and quality of housing will only get better if policy makers prioritise long-term outcomes and de-prioritise politics and vested interests, experts from Cambridge University Land Society (CULS) say. A new paper from The Whitehall Group – ‘A vision for the UK housing market’, written by Anna Clare…

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Mortgage Guarantee Scheme Central Housing Group

Leap in mortgage approvals signals market recovery

Bank of England statistics show that agreed mortgages climbed to 52,000 in March, up from 44,100 the previous month. The total number of mortgage approvals has bounced back after hitting a new low at the end of last year, Bank of England figures show. Mortgages agreed jumped to 52,000 in March, from 44,100 in February, as the market recovers from the damage caused by the Mini-Budget. The overall total though remains…

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First Time Buyer Mortgage Central Housing Group

Details emerge of 100% mortgage aimed at renters

Renters are being offered a 100 per cent mortgage by the Skipton Building Society – the first time such a product has been available since the financial crisis in 2008. Skipton chief executive Stuart Haire says the society wants to “help those trapped in renting.” Although some 15 other 100 per cent loans are already available the Skipton product will be unique in not requiring a guarantor and being aimed…

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Call of the month: Do I need to provide my tenants with a lawnmower? – Originally Posted by NRLA

This week is National Gardening Week, and with summer approaching here we take a look at how we recently helped one member learn more about garden maintenance. The situation Our landlord called up as they only fairly recently became a landlord, and they wanted to make sure they were doing the right thing.  With the weather getting warmer, they called our advice team about one of their rental properties which…

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Yet another problem! The PRS confronts inflation and interest rates – Originally Posted by NRLA

Introduction Interest rates and inflation are squeezing landlords. In many cases landlords are now reducing portfolio holdings or quitting the market altogether – evidence for this comes from the NRLA’s quarterly consultation programme as well as the Landlord Confidence Index.  NRLA membership consultations have increasingly focused on how interest rates and inflation rates are affecting them and their businesses. Landlords have had Mortgage Interest Relief (MIR) phased out, replaced by…

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Housing Rent Controls Across The UK Central Housing Group

Labour Supports & Opposes Housing Rent Controls

Senior Labour figures have come out with sharply opposing views on whether the party backs housing rent controls & other rent controls. Shabana Mahmood, a senior MP close to party leader Sir Kier Starmer and also Labour’s campaigns manager, appeared to dismiss rent controls on a BBC interview with Laura Keunnsberg. Mahmood described a rent freeze as a mere tweak which “wouldn’t get to the heart of the problem” which…

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NRLA Organisation On Energy Efficiency - Central Housing Group

NRLA Organisation Say Energy Efficiency Deadlines Must Be Pushed Back

Unrealistic Government proposals for energy efficiency improvements in PRS homes must be pushed back, says the NRLA Organisation. The Government consulted on plans to ensure private rented homes have an Energy Performance Certificate (EPC) rating of at least a C more than two years ago, with the proposed new rules set to be implemented in 2025 for new tenancies and 2028 for all others. The Government also proposed all landlords…

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National Registration for Short Lets - Central Housing Group

Agents Back Compulsory National Registration for Short Lets

Propertymark has thrown its weight behind the idea of a compulsory national registration for short lets for landlords and hosts operating Airbnb and other short lets. The trade body says in a new statement: ”Propertymark has campaigned for a long-time to introduce standards for the short-term lettings industry and annotate the impact they have on the availability and affordability of local rental housing and increased house prices driven by additional…

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London House Prices Ranked after a Year of Dramatic Rise and Falls

London House Price Ranking After a Year of Dramatic Rise and Falls

Where does your area lie in the London House Price Ranking? As a city of 3.7 million households London’s property market shows huge variation in average sold prices, as well as between how these rise and fall over time across its 33 local authorities. The latest data from Hamptons show how areas moved up and down the rankings as their house prices soared, plummeted, or stayed stock still in 2022. The two most expensive…

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Anti-Landlord Renters Reform Bill - Central Housing Group

Anti-Landlord Renters Reform Bill Published by Govenment

The Pro-Tenant Anti-Landlord Renters Reform Bill has at last been published by the government which first promised it in 2019. It has a series of pledges to court favour with renters – it will be harder to evict tenants, easier for renters to have pets, a Decent Homes Standard will be introduced, and landlords will have to join a mandatory Ombudsman scheme.   The government claims 11m tenants across England will…

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House Price Gap Narrows in London - Central Housing Group

House Price Gap Narrows – London Boroughs with Property Prices below City Average

House Price Gap Narrows – London Boroughs with Property Prices below City Average. Down from 12 in 2012, there are now just eight boroughs with property prices below the London-wide average of £532,000, meaning the House Price Gap has narrowed. The number of boroughs where house prices sit below the London average, and that are considered comparatively affordable, has dwindled. Despite a property market that has been muted since the…

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Retiring Landlords Quitting - Central Housing Group

Retirees Lead the Way amongst Landlords Quitting Sector

Landlords who bought soon after the launch of the first buy-to-let mortgage in 1996 lead the way amongst Landlords Quitting sector in increasing numbers.   Research from lettings agency Hamptons shows that with the average landlord turning 60, it’s predominantly these older investors who are leaving the market, meaning the percentage of Landlords Quitting the sector has increased substantially.   Hamptons’ estimates suggest that around 140,000 landlords retired in 2022 accounting for…

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Retiring Landlords Make up Three Quarters of PRS Sales - Cental Housing Group

Retiring Landlords Make up Three Quarters of PRS Sales

New research has shown that 73 per cent of all landlord sales in 2022 were made by Retiring Landlords. The supply crisis within the PRS has never been far from the headlines in recent months, with the figures suggesting the generation of landlords who benefitted from the birth of the buy-to-let mortgage in the late nineties are now starting to sell up. The figures come from estate agent Hamptons in…

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Housing & Rental Fraud - Central Housing Group

Fight Back Against Housing & Rental Fraud

It won’t be a surprise to learn that Housing & Rental Fraud is on the rise. Along with scams, cybercrime and fake news, it’s endemic in the modern world. We ignore it at our peril – fraudulent activity is becoming ever more sophisticated. According to LegalforLandlords MD Sim Sekhon, our awareness and defence strategies need to follow suit. It’s hard to get precise details on the scale of the problem. However, in…

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UK Housing Price Index - Central Housing Group

Pockets of Strength in Latest UK Housing Price Index

According to the latest UK Housing Price Index, the annual percentage change for average UK house prices was 5.5% in the 12 months to February 2023, compared with 6.5% in the 12 months to January 2023 and 9.0% in the 12 months to December 2022. The average UK house price was £288,000 in February 2023, which is £16,000 higher than 12 months ago, but £5,000 below the recent peak in…

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Cladding Companies May Face Consequences Government Warns - entral Housing Group

Cladding Companies May Face ‘Severe Consequences’ Government Warns

Shareholders in three Cladding Companies, whose shocking practices were uncovered in evidence heard at the Grenfell Inquiry, have been warned by the government that the manufacturers they invest in will face “severe consequences” if they do not come forward with a comprehensive financial package to fix unsafe buildings. Michael Gove has written to investors in Kingspan, Arconic, and Saint-Gobain and urged them to use their “position of influence” to encourage…

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