Renters 100 Per Cent Mortgage Central Housing Group

House Sales stagnate as mortgage rates dampen buyer enthusiasm

The latest RICS UK Residential Survey results shows the recent recovery in buyer demand has mellowed slightly, with the market impacted by rising mortgage rates once again. However, the general sentiment from survey respondents continues to point to a stronger picture for overall sales market activity over the next 12 months. The headline for new buyer enquiries, in terms of net balance, dropped from +6 to -1 in April, marking… Continue Reading House Sales stagnate as mortgage rates dampen buyer enthusiasm

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Problem Tenants - Central Housing Group

Section 21 evictions ‘set to continue’ after loophole uncovered

Lettings experts claim a flaw in the Renters (Reform) Bill means S21 ‘no fault’ evictions will still be possible after the bill becomes law. Landlords and agents will be able to carry on evicting tenants through Section 21 ‘no fault’ notices, it is claimed, even after the Renters (Reform) Bill becomes law. Lettings experts from tenant referencing company Goodlord and law firm Dutton Gregory say a loophole in the bill will create ‘a patchwork… Continue Reading Section 21 evictions ‘set to continue’ after loophole uncovered

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Landlords To Sell Their Properties CHG

UK’s most lucrative locations for holiday let income

The Cotswolds is the most lucrative place in the UK to own a holiday let, according to Sykes Holiday Cottages. With annual incomes averaging £28,500, versus a UK average of £24,500, the region has taken the top spot away from Cumbria and the Lake District (£28,200) which has dropped into second place. Dorset (£27,000) and Cornwall (£26,500) follow closely behind in the new ranking, while other common UK holiday hotspots… Continue Reading UK’s most lucrative locations for holiday let income

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Most Tenants Have Good Landlords - CHG

Michael Gove turns the safety screws on reluctant freeholders

The government has won a landmark legal challenge against a freeholder forcing it to fix serious building safety issues in a Stevenage block called Vista Tower.  Legal action was launched by the government against Grey GR in October 2022 following what it calls “unacceptable delays in fixing multiple serious fire safety issues, first identified in the building in 2019.”  Grey GR is ultimately owned by Railpen, a scheme that manages… Continue Reading Michael Gove turns the safety screws on reluctant freeholders

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Tweaking The Renters (Reform) Bill - CHG

Under 25% of renters bother reading tenancy agreements

A new survey from law firm Weightmans has found that only 24% of renters read tenancy agreements.  It says this is largely due to the UK being in a digital era where online agreements and quick clicks are the norm.  Out of those surveyed, 39% of respondents admit to signing contracts they don’t understand; only 24% of Brits read tenancy agreements, and when broken down by gender only 20% of… Continue Reading Under 25% of renters bother reading tenancy agreements

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Generation Buy Scheme

Landlords selling up leaving 2,000 households a month in England facing homelessness

Four in 10 households seeking council help say it is because property is being sold, amid renting reform delays More than 2,000 households a month are facing homelessness in England because private landlords say they are selling up, with some blaming uncertainty caused by government delays to renting reforms. Official figures show that more than four in 10 families who have asked councils for temporary housing after a private landlord ended their tenancy… Continue Reading Landlords selling up leaving 2,000 households a month in England facing homelessness

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Pets In Properties - Central Housing Group

Agency Flags Growing Worries Over Pets In Properties

A prominent lettings agency says concern is growing in the private rental sector about the prospect of more pets in properties. A Leaders Romans Group survey reveals that while 57% of UK households have a pet, most landlords – 56% – are wary of the negative impacts they see in the Renters Reform Bill’s approach to the issue. Only 10% are unsure of the impact.  The Bill proposes comprehensive changes,… Continue Reading Agency Flags Growing Worries Over Pets In Properties

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Affordable Homes To Rent - Central Housing Group

90,000 Affordable Homes To Rent To Be Built EVERY Year

Homelessness charity Shelter is calling for all political parties to commit to building 90,000 affordable homes to rent every year – with rents that are tied to local incomes. It says the move will deliver a ‘lasting and ultimate solution to homelessness’. Shelter is also pushing for the Renters (Reform) Bill amendments to be ditched – including a delay to banning Section 21 ‘no-fault’ evictions until the court system is… Continue Reading 90,000 Affordable Homes To Rent To Be Built EVERY Year

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Tenants Borrowing Money To Fund Deposits - CHG

Tenants Borrowing Money To Fund Deposits On Next Property

The percentage of tenants borrowing money to fund deposits on their next property has risen over the last 12 months. That’s the claim by Reposit, a deposit alternative provider.  A poll commissioned by the company across 1,000 current renters revealed 38% were turning to friends and family, using credit cards, personal loans or dipping into their overdraft to cover the costs of moving home.  This figure was found to have… Continue Reading Tenants Borrowing Money To Fund Deposits On Next Property

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Cheaper To Buy A Home Than Rent - CHG

Cheaper To Buy A Home Than Rent In Major British Cities

Rightmove says it’s now cheaper to buy a home than rent in each of Great Britain’s biggest cities, highlighting why many determined first-time buyers are continuing to save up their deposit and look at longer mortgage terms to get onto the ladder. The average asking price for a typical first-time buyer type property (two bedrooms or fewer) in Aberdeen is currently £102,602, with the average monthly mortgage payment now £406… Continue Reading Cheaper To Buy A Home Than Rent In Major British Cities

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Average Rent Arrears - Central Housing Group

Average Rent Arrears Climb As Cost Of Living Bites

Average rent arrears claims climbed to £1,816 in the first quarter of this year. That’s a rise of 27% from £1,435 in the same period last year, data from deposit alternative provider Reposit has revealed. The company analysed its data from January 2021 through to the end of Q1 2024 and found this was the highest figure yet. It is also a sign of the unrelenting pressures within the rental… Continue Reading Average Rent Arrears Climb As Cost Of Living Bites

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Tenancy Application Fraud - CHG

Tenancy Application Fraud Rockets By 140%

A sharp rise in rental market competition is fuelling a surge in tenancy application fraud, according to new data. An analysis by tenant referencing firm Goodlord found a staggering 140% increase in tenancy application fraud between 2022 and 2023. The most common tactic involves manipulating payslips, with applicants either inflating their income or altering the source entirely. Goodlord compared more than 300,000 applications from each year, revealing a jump from… Continue Reading Tenancy Application Fraud Rockets By 140%

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Landlords Champion - Central Housing Group

Landlords Champion Urges More Use Of Lettings Agents

Landlords champion Paul Shamplina says more landlords should use lettings agents, who he describes as their “allies” in the battle to operate the private rental sector. Shamplina – founder of Landlord Action, the chief commercial officer at industry supplier Hamilton Fraser, and star of on Channel 5’s ‘Nightmare Tenants, Slum Landlords’ – says it seems likely that cost-cutting reasons lie behind the fact that the number of landlords self-managing is… Continue Reading Landlords Champion Urges More Use Of Lettings Agents

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Tenant Fraud - Central Housing Group

Agents Facing Huge Rise In Tenant Fraud

An analysis of over 600,000 tenancy applications has found that tenant fraud applications rose by 140% last year. The analysis, carried out by PropTech supplier Goodlord, found that payslip fraud was the most common way tenants try to trick referencing systems. To carry out the analysis, a sample size of more than 300,000 tenancy applications from 2022 was compared with more than 300,000 applications from 2023. The data shows that,… Continue Reading Agents Facing Huge Rise In Tenant Fraud

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Most Tenants Have Good Landlords - CHG

Most Tenants Have Good Landlords

Landlords in the UK should ignore what the likes of Shelter and Generation Rent say since most tenants have good landlords, research reveals. The findings from Aldermore challenge the stereotype of what those organisations and the media portray as tense relationships. The majority (69%) of private renters report having a positive experience with their landlord. However, three out of four renters (74%) faced stiff competition and took longer than expected… Continue Reading Most Tenants Have Good Landlords

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Change To The Renters (Reform) Bill - CHG

Change To The Renters (Reform) Bill Means A 2 year Wait

Labour’s shadow housing secretary, Matthew Pennycook, has proposed a significant change to the Renters (Reform) Bill which would require landlords to wait two years from the start of a tenancy before they can sell or move back into their property. The change to the Renters (Reform) Bill is one of a raft of amendments that could be added. MPs are set to debate the amendment in Parliament tomorrow (Wednesday), including… Continue Reading Change To The Renters (Reform) Bill Means A 2 year Wait

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Housing Affordability Crisis - Central Housing Group

Housing Affordability Crisis For Universal Credit Claimants

Universal Credit claimants face a housing affordability crisis, with a recent rise in housing benefit failing to keep pace with soaring rents. While Local Housing Allowance (LHA) will increase for the first time in four years from this week, research by Savills reveals a significant gap. It says that the average LHA rise of 17% falls short of the 28% average growth in private rents over the past four years.… Continue Reading Housing Affordability Crisis For Universal Credit Claimants

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Tweaking The Renters (Reform) Bill - CHG

Tweaking The Renters (Reform) Bill – It Needs Sinking

News that the Government is tweaking the Renters (Reform) Bill has been welcomed by landlords everywhere, not so much by the usual suspects, but this awful legislation really needs sinking. The proposed changes, including the abolition of section 21 ‘no-fault’ evictions, do nothing to help the private rented sector (PRS) and only contribute to rising rents for tenants. Homeless charity Shelter may condemn the government for this move to ‘water… Continue Reading Tweaking The Renters (Reform) Bill – It Needs Sinking

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London Rental Licensing Regime - CHG

New London Rental Licensing Regime Launches

A new borough-wide landlord London rental licensing regime is set to launch in the London borough of Brent on April 1, the council has announced. The council says the London rental licensing regime is “aimed at improving living standards for private renters and clarifying responsibilities for landlords and agents.” “The introduction of selective licensing across Brent will offer renters the assurance of security and safety when it comes to their… Continue Reading New London Rental Licensing Regime Launches

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Right to Rent Fines - Central Housing Group

Landlords See A Huge Rise In Right to Rent Fines

Landlords and letting agents in England have been hit with a significant rise in Right to Rent fines for failing to comply with regulations. According to government figures, penalties jumped by a staggering 405% last year – hitting £151,480 compared to just £29,960 the previous year. The number of Right to Rent fines issued also increased dramatically, rising from 32 in 2022 to 155 in 2023. The Right to Rent… Continue Reading Landlords See A Huge Rise In Right to Rent Fines

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