A prominent solicitors’ firm says the failure of the Renters Reform Bill to become law may have attracted headlines but the underlying problem – a court system unable to process evictions – stays the same. A statement from the law firm, Payne Hicks Beach, says: “The government’s failure of the Renters Reform Bill to end no fault evictions is unlikely to do it any favours with younger voters and the… Continue Reading Failure Of The Renters Reform Bill Unresolved

Rishi Sunak’s decision to call a snap General Election means the biggest property reforms in decades to Renters (Reform) Bill has been dropped. It seems unbelievable after all the months of heated debate about the Renters (Reform) Bill, but the key rental property reforms are now likely to be dropped ahead of the General Election. That’s because there may not be enough time to get the bill through Parliament before… Continue Reading Property Reforms Lost After Election Date Named

Landlords are less worried by the Government’s looming Renters (Reform) Bill and more concerned about the financial squeeze they face including tenants who don’t pay their rent, a new poll reveals. Letting agency giant the Leaders Romans Group, which runs ten different brands across the UK, says landlords are most worried the financial pressures from tenants who don’t pay their rent and additional costs and taxes rather than the extra… Continue Reading Tenants Who Don’t Pay Their Rent Should Face Consequences

The impending passing of the Renters (Reform) Bill spells trouble for tenants and landlords, warns a legal expert. Ian Narbeth, a commercial property lawyer and BTL and HMO landlord, tells Property118 in a video interview that can be seen below that some Tory MPs have “woken up too late” to the damaging effects the Bill will bring. Mr Narbeth also explains the big problem that councils are causing by telling… Continue Reading Passing Of The Renters (Reform) Bill Spells Trouble

Half of all tenants who moved during the past 12 months found it ‘difficult’ or ‘very difficult’ to secure new rental properties, says the Deposit Protection Service. The proportion of respondents who had moved during the previous year and who had encountered difficulties increased from 42% to 50% between March 2023 and March 2024. Just 9% of respondents said they had moved property during the last six months compared with… Continue Reading Tenants Struggle To Find New Rental Properties

A landlord sell-off is a major driver of tenant moves after 50% of property professionals said that was the main reason for renters moving home last year, a survey has found. According to PayProp, this landlord sell-off is a growing concern – and something that campaign group Generation Rent has highlighted recently. Just 11.3% of those surveyed said eviction was the cause for a move. The rental payment platform’s survey… Continue Reading Landlord Sell-Off Forces Tenants Out

As the House of Lords gears up to debate the Renters (Reform) Bill today, they are being warned that landlords selling properties is the biggest challenge facing renters in the UK. That’s according to the National Residential Landlords Association (NRLA) is pointing to government figures. The data reveals that 45% of households that needed council support to prevent homelessness in the second half of 2023 did so because their landlord… Continue Reading Landlords Selling Properties Threat To Renters – NRLA

Private rented sector experts have identified an eviction loophole in the Renters (Reform) Bill that could lead to a confusing patchwork system for landlords and tenants over evictions. The Bill, which aims to abolish Section 21 ‘no-fault’ evictions might not deliver on this promise. That’s according to Oli Sherlock, the managing director of insurance at Goodlord, and Ryan Heaven, a solicitor at Dutton Gregory Solicitors. Their analysis suggests that despite… Continue Reading Eviction Loophole In Renters (Reform) Bill

Increased expectations that the Bank of England will cut the base interest rate next month prompt lenders including HSBC to reduce mortgage rates. Hopes of an interest rate cut by the Bank of England next month have persuaded lenders at three of the biggest banks to cut rates for their mortgages and hopefully give the sales market a boost. HSBC, Barclays and TSB have all reduced mortgage borrowing rates in… Continue Reading Mortgage Rates Cut With Interest Rate Reduction

Despite a surge in prices of property driven by pent-up demand and a strong Spring season, selling still takes seven months between listing and completion. Vendors hoping to sell their home before Christmas should instruct an agent now as the average time between listing and completion for properties takes a whopping seven months, Rightmove House Price Index reveals today. Average prices of property coming to the market for sale reached… Continue Reading Prices Of Property Surge Takes 7 Months To Sell

The number of households removed from their privately rented properties by bailiffs in England via a Section 21 ‘no fault’ eviction increased by 19% during the first three months of the year to 2,682 households, official data shows. A further 7,863 landlords began the Section 21 process during the same period, a rise of 15%. Shelter says the figures are another reason why this kind of eviction should be banned,… Continue Reading Privately Rented Properties Removed Via Section 21

An Office of National Statistics survey shows that the top three issues facing the UK are still the cost-of-living crisis (89%), the NHS (88%) and the economy (70%), but now housing concerns are fourth at 64%. The proportion of people who voiced housing concerns has risen from 53% in late October and early November 2022, to 64% today. Two in five (41%) say their rent or mortgage has risen in… Continue Reading Housing Concerns Rise For Poor Renters

Londoners looking to buy a home can expect to spend 42% more on monthly mortgage payments and it’s cheaper to rent, it’s been claimed. In addition the cost of homeownership is highest in inner London, where mortgage costs are 66% higher than rental prices – meaning buyers fork out an extra £1,232 per month. Meanwhile in cities such as Manchester and Bristol, it’s cheaper to rent and mortgage costs are… Continue Reading Cheaper To Rent Than Buy In London

Some 50% of tenant turnover who moved last year did so because their landlords decided to sell the property. By contrast, eviction was cited by just 11.3% of those surveyed. The tenant turnover survey – by PropTech company PayProp – found that more than 54.5% of landlords were in the process of selling properties last year at the time of the survey.  PayProp UK managing director Neil Cobbold says: “We… Continue Reading Tenant Turnover Due To Landlord Sales

Half of all tenants who moved in the past year say they faced difficulties finding a new property to rent which is an 8% increase from the previous year, research reveals. According to The Deposit Protection Service (DPS), the research suggests a tough market for renters, particularly younger tenants and those who are unemployed. It says that tenants are facing fewer available properties, rising living costs and higher rents as… Continue Reading Tenants Struggle To Find Property To Rent

The number of London leaseholders looking to sell up is three times the national average Escalating ground rents and service fees have 13 per cent of London leaseholders considering selling up, new data from Barclays has revealed. That’s three time the national average of four per cent of leaseholders considering selling their home. The report found that just 35 per cent of London leaseholders feel their ground rent and service… Continue Reading London Leaseholders Consider Selling Homes

A Labour government could bring in rental caps that would empower local councils to restrict annual rent increases by landlords. That’s a similar proposal to Scotland’s Housing Bill which has recently been unveiled. Rachel Reeves, the shadow chancellor, made the revelation during a BBC Radio Essex interview. She said that rental caps might be a viable solution in some areas but dismissed the idea of a nationwide implementation. ‘Not always… Continue Reading Labour Could Bring In Rental Caps

Michael Gove’s Leasehold & Freehold Reform Bill made it through Parliament, although the Renters (Reform) Bill has become a casualty of the General Election. Major reform of leasehold and freehold rules has become law just before the door closed on any new legislation. The Leasehold & Freehold Reform Bill was one of the only law changes that made it through the ‘wash-up’ in Parliament before the General Election. A ban… Continue Reading Leasehold & Freehold Reform Bill Becomes Law

Many buy to let landlords have made financial changes during the cost of living crisis to mitigate the rising costs of operating private rental units, including renegotiating mortgage finance, increasing rent or selling property. That’s the claim in the latest Landlord Trends report, carried out by Pegasus Insight for Foundation Home Loans. Landlords were asked to identify the changes they had made over the past 18 months: 30% said they… Continue Reading Landlords Rising Costs Of Private Rental Units

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 Rising Mortgage Rates Dampen Buyer Enthusiasm