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There has been a significant increase in demand for rental accommodation in London, according to the latest report from Benham & Reeves. New data covering Q3 2018 shows that the firm experienced its busiest quarter in history with more than 1,000 new tenancies agreed across its 16 branches London-wide. This represents...
Posted: October 23, 2018, 7:00 am
A private landlord who illegally modernised an historic house in Brighton has been told by a judge to pay out more than £82,000. Grade II-listed Ewhurst Manor, built in the late 16th century, was acquired by Lars Vestergaard for £3m in 2014. The landlord, who lives in Roedean Way, BN2, failed to...
Posted: October 23, 2018, 7:00 am
Home movers, including a growing number of renters, are increasingly reliant on connection, community and convenience when looking at where to live, fresh research shows. According to Strutt & Parker’s latest report, ‘Housing Futures: New Horizons’, which looks at how policy and political events have transformed the property market over the...
Posted: October 23, 2018, 7:00 am
A new landlord reward scheme designed to increase the stock of private rented accommodation in the marketplace in Rochford, Essex, has been launched. Rochford District Council is offering landlords cash payments of up to £5,000 to accommodate homeless families as a shortage of social housing forces authorities to court the private...
Posted: October 23, 2018, 7:00 am
A mixed-tenure development of private sale and affordable housing has been launched on the site of West Ham’s former Upton Park stadium in East London. The Upton Gardens development, which features 842 homes across 18 buildings set around a communal garden, forms part of the wider regeneration of the Newham area. The...
Posted: October 23, 2018, 7:00 am
The chances of a no-deal Brexit are looking increasingly likely after EU leaders snubbed Theresa May’s latest compromise offer, but that will not stop a significant number of landlords from expanding their portfolios over the next 12 months, according to new research. Some experts have warned of chaos if the UK...
Posted: October 22, 2018, 7:00 am
The Residential Landlords Association (RLA) has raised serious concerns that the majority of buy-to-let lenders are preventing landlords renting property to some of the ‘most vulnerable in society’. The RLA is urging the government to tackle discrimination against benefit claimants by mortgage providers after fresh research by the landlords association found...
Posted: October 22, 2018, 7:00 am
Private landlords are being offered money to help encourage them to restore their empty homes in the London borough of Barnet.  Empty Property Grants of up to £25,500 are currently available to help owners bring long term empty properties back into residential use through either renovation or conversion. A grant is...
Posted: October 22, 2018, 7:00 am
Kensington Mortgages has extended its limited time offer across its range of buy-to-let and residential products until Monday 5th November. The buy-to-let offer, available on a 75% loan-to-value (LTV), is set at 2.59% on a two-year fix, having a 0.30% discount. Craig McKinlay, sales and marketing director at Kensington Mortgages, said: “This...
Posted: October 22, 2018, 7:00 am
A landlord in County Durham has been ordered to pay just over £450 for breaching his licence. Matthew Snowdon, of Cows Hill Road, Allenhead, failed to comply with the conditions of his licence for two properties on Thorpe Street, Easington Colliery, which come under the selective licensing designation, leaving Durham County...
Posted: October 22, 2018, 7:00 am
The number of people seeking advice over rent arrears has increased by 47% over the past five years due primarily to the roll-out of Universal Credit, according to a new report. Citizens Advice Scotland (CAS) published a paper yesterday in which it blamed changes to the social security system for the...
Posted: October 19, 2018, 7:00 am
Two years on from sweeping tax reforms to the buy-to-let sector, the industry is rapidly shifting towards professional landlords, according to senior mortgage experts. Mortgage advisors came together this week at the Mortgage Strategy Leaders Forum in London where they discussed the changing tax landscape and the impact that it has had on buy-to-let property...
Posted: October 19, 2018, 7:00 am
The government has released the first tranche of an estimated £400m to fund the removal and replacement of unsafe cladding on social sector high rise housing in the aftermath of the Grenfell Tower tragedy. The money will be used to remove and replace unsafe aluminium composite material (ACM) cladding systems on...
Posted: October 19, 2018, 7:00 am
Rent arrears are a real concern for a number of landlords across the UK, especially as it can have a significant impact on their ability to pay their mortgage. Rent arrears have soared in some parts of the UK in recent months, owed in part to the roll-out of Universal Credit,...
Posted: October 19, 2018, 7:00 am
The Mortgage Works (TMW) has announced changes to its buy-to-let mortgage range, which it says will offer landlords greater flexibility. These changes include a new two-year fixed rate mortgage up to 80% loan-to-value (LTV), available at a rate of 4.69% for purchase or remortgage, with no fee, a £1,000 cashback and...
Posted: October 19, 2018, 7:00 am
homes4u is the latest letting agency to sign up to the Zero Deposit scheme, a tenant’s deposit replacement product, designed to reduce financial pressures on renters, while also offering greater security to landlords. The deposit replacement scheme, launched earlier this year, allows tenants to acquire an insurance policy in lieu of...
Posted: October 18, 2018, 7:00 am
Growth in demand for super-prime properties in prime central London has slowed significantly, fresh data shows. According to Knight Frank, the number of super-prime - £5,000-plus per week - tenancies agreed in London in the year to August was 5% higher than the previous 12-month period, which marks a major slowdown...
Posted: October 18, 2018, 7:00 am
How many times has a potential tenant failed referencing? Too many times is probably your answer. This frustrating scenario ultimately arises because tenant referencing is left to the final stages of the negotiation process. By introducing referencing to the start of the process, also known as ‘pre-referencing’, the landlord or their...
Posted: October 18, 2018, 7:00 am
Aldermore has updated its proposition for buy-to-let and residential mortgages. The specialist bank has made several changes to its criteria, including lowering Interest Coverage Ratio (ICR) for basic tax payers, new build flats up to 70% loan-to-value (LTV) for first time landlords and 75% LTV for existing landlords. In addition, it has...
Posted: October 18, 2018, 7:00 am
A landlord in Ilford, Essex, who allowed 23 people to live in overcrowded conditions has been fined £7,500. Tenants in a house of multiple occupancy (HMO) in Beehive Lane, Gants Hill were forced to live in the property, which was licensed to house only six people, without adequate cooking, washing and...
Posted: October 18, 2018, 7:00 am