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A number of people have unsurprisingly invested in property over the years as a means of supplementing their income, supported by solid demand from tenants and stable yields, as buy-to-let consolidated itself as the investment of choice. However, a new survey shows a concerning swing in investor attitudes towards investing in...
Posted: May 22, 2018, 7:00 am
The private rented sector will not experience a “mass exodus” of private landlords as a result of tax changes and tougher mortgage rules, a senior figure at Foundation Home Loans has insisted.A recent study, undertaken by the National Landlords Association (NLA), suggests that almost a fifth of landlords - 19% -...
Posted: May 22, 2018, 7:00 am
When it comes to rental responsibilities during a tenancy, there remains some confusion among so-called ‘accidental landlords’ when it comes to understanding the latest safety obligations for renting out property.Legally, landlords must ensure that gas appliances are checked annually by a Gas Safe registered engineer and must provide their tenants...
Posted: May 22, 2018, 7:00 am
Ideal Flatmate has closed its second round of funding, taking total investment in the company to £1.25m.The website, a compatibility-based flatmate matchmaker, enables private landlords to list rooms for rent in London free of charge.The platform, designed by Cambridge professors, is based on an algorithm similar to that of dating...
Posted: May 22, 2018, 7:00 am
For the next five days, the grounds of the Royal Hospital in SW3 will be home to the world’s most prestigious flower show, the Royal Horticultural Society’s Chelsea Flower Show.The site has been transformed into a stunning display of floral art and landscape architecture, with world-famous designers florists and plant...
Posted: May 22, 2018, 7:00 am
Previously, nearly all buy-to-let mortgages charged a minimum 1% arrangement fee, but fresh data from specialist buy-to-let broker Mortgages for Business shows that one in five buy-to-let mortgages now carries no lender arrangement fee, compared to just one in ten – 11% - a year ago.While the move by lenders to...
Posted: May 21, 2018, 7:00 am
The number of interest-only mortgages provided by lenders continues to fall, with the latest data from UK Finance revealing that there are currently 1.7 million outstanding interest-only mortgages, including partial interest-only, down 46% since 2012.The total value of the interest-only mortgage book is £250bn, down 37% on the corresponding period.It...
Posted: May 21, 2018, 7:00 am
The Southern Homebuilding & Renovating Show kicks off at Sandown Park in Surrey at the end of next month, and you can now claim a free pair of free tickets for the show worth £24.Across three days (30 June-1 July 2018) visitors can speak to more than 220 exhibitors and...
Posted: May 21, 2018, 7:00 am
Hampshire Trust Bank (HTB) has enhanced the lending criteria on its buy-to-let and home in multiple occupation (HMO) five-year fixed rate deals, enabling customers to potentially borrow more.HTB will now assess eligible buy-to-let mortgage applications using a minimum of 125% rental cover for companies and 140% for individuals.The lender has...
Posted: May 21, 2018, 7:00 am
There was a decline in the number of properties let last month, as a fall in supply restricted choice for prospective renters, fresh data from the Agency Express Property Activity Index shows.The percentage of properties ‘let’ dropped to sit at -9.1%, owed in part to a 9.4% fall in the...
Posted: May 18, 2018, 7:00 am
The publication yesterday of Dame Judith Hackitt’s Independent Review of Building Regulations and Fire Safety, confirming that landlords and building managers will be held accountable by a new ‘joint competent authority’ (JCA) that will oversee safety within multi-occupancy higher-risk residential buildings, has been welcomed as a “step in the right direction”...
Posted: May 18, 2018, 7:00 am
Expert packager Crystal Specialist Finance and Together have teamed up to successfully deliver fast finance enabling their client, a property investment firm, which owns almost 250 properties, to expand its portfolio.The much needed funding, secured against 26 rental homes owned by the investment firm, collectively worth £3.5m, was delivered in...
Posted: May 18, 2018, 7:00 am
Buy-to-let mortgage lending plummeted during March, as reflected by the latest data released by UK Finance.Fresh figures from the banking industry group show that the value of mortgages taken out by landlords in March dived by almost 20% compared with the corresponding month of last year.A total of 5,500 buy-to-let...
Posted: May 17, 2018, 7:00 am
Buy-to-let landlords in Wales who offer free accommodation in return for sex could lose their operating licences, according to plans being drawn up by the Welsh government.Renting rooms for sexual favours is seen as a growing menace by the Welsh government, and a byproduct of a housing crisis where young...
Posted: May 17, 2018, 7:00 am
A rogue landlord has been ordered to pay almost £3,000 after being found guilty of a number of breaches relating to an unlicensed HMO he owns in Bury.Abdul Raza Saddiqui, aged 50, of Parkhill Road, Bury, was fined £1,200 with £2,452 costs and a £30 victim of crime surcharge after...
Posted: May 17, 2018, 7:00 am
The Property Ombudsman (TPO) scheme has released its latest annual report revealing an increase in the number of consumers contacting the scheme for help.The TPOs 2017 annual report shows that the number of complaints received rose by 3% to 3,658 last year, with just over £1.3m worth of compensation paid...
Posted: May 17, 2018, 7:00 am
A new bridging and buy-to-let combination mortgage deal with a joint application and underwriting process has been launched by UX Mortgages and bridging loan provider Tiuta.The new ‘Dual’ product, designed for property investors who require funds for a swift acquisition, is believed to be the first to combine bridging and...
Posted: May 17, 2018, 7:00 am
The number of landlords planning to sell some or all of their buy-to-let properties remains at an historic high, according to new research.A fifth of landlords - 19% - said they would offload properties this year due primarily to the mortgage interest relief changes.The survey of more than 1,000 private...
Posted: May 16, 2018, 7:00 am
The majority of buy-to-let landlords with properties in Yorkshire and Humberside are feeling positive about the future of the rental market, with many thinking about buying more properties to rent in the future, according to a survey by Knight Knox.The survey of 500 landlords in the UK found that landlords with property in the Yorkshire and...
Posted: May 16, 2018, 7:00 am
Legal and General Mortgage Club has added Landbay to its lender panel, offering members immediate access to a wide range of specialist buy-to-let products.Products for portfolio landlords, HMOs, MUFBs, first-time landlords, limited companies and new build properties, are among the latest range offered by Landbay.The partnership will also give Legal...
Posted: May 16, 2018, 7:00 am