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A number of organisations from across the housing sector have teamed up to support landlords and tenants facing rent arrears as a consequence of the Covid-19 outbreak. The organisations are launching guidance offering practical ways in which landlords and tenants can work to address arrears that might be building as a...
Posted: July 3, 2020, 7:00 am
Unscrupulous landlords in the East End of London been ordered to pay more than £100,000 over the past 12 months for renting out unsafe or inappropriate properties illegally.  Tower Hamlets Council has used repayment orders to recover funds from landlords offering bad properties, enabling tenants to get compensation for excessive rents...
Posted: July 3, 2020, 7:00 am
Foundation Home Loans has relaunched its buy-to-let product range to its pre-lockdown structure with the reintroduction of large loans, early remortgage, and short-term let products. The lender has also introduced a number of rate reductions of up to 40 basis points across its five-year BTL products for both individuals and limited...
Posted: July 3, 2020, 7:00 am
Thousands of smart meters have been rolled out to landlords and agents by Glide, enabling its clients to future proof their portfolios.  The smart metering roll out, which allows energy usage to be monitored without the need for physical meter readings, comes with a number of benefits, including the ability for...
Posted: July 3, 2020, 7:00 am
The government has confirmed that it will not extend the ban on landlords evicting renters beyond 23 August. Renters across England and Wales received greater protection last month after the government extended the suspension of new evictions until 23 August, taking the moratorium on evictions to a total of five months.  The move was designed...
Posted: July 2, 2020, 7:00 am
The National Residential Landlords Association (NRLA) has welcomed confirmation from a government minister that the courts will begin to hear possession cases from the latter part of next month, providing greater certainty for the rental market. Responding to a series of parliamentary questions, Lord Greenhalgh, a minister at the Ministry for...
Posted: July 2, 2020, 7:00 am
Pent-up demand during lockdown has translated into a rapid bounce-back in activity since the start of June, with new and completed tenant applications surging above 2019 levels.    The latest data and analysis from Goodlord shows that rental costs are rising in the majority of regions and void periods are falling, as...
Posted: July 2, 2020, 7:00 am
New regulation introduced yesterday could see unscrupulous landlords fined up to £30,000 if they do not comply with the rules.  Under the Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020, landlords must now get wiring, light fittings, plug sockets and other electrical installations in renters’ homes checked at...
Posted: July 2, 2020, 7:00 am
The north of England once again provided the greatest jump in rental returns for buy-to-let landlords in the second quarter of this year as demand from renters continued to heavily outstrip supply in the region.  According to data from Fleet Mortgages’ buy-to-let index, average rental yields on residential buy-to-let properties currently...
Posted: July 2, 2020, 7:00 am
Thousands of tenants who have struggled to pay rent during the coronavirus pandemic face the prospect of losing their home when the government’s temporary ban on evictions ends next month, according to Generation Rent.  The government’s moratorium on evictions, which runs out on 23 August, is designed to protect tenants that...
Posted: July 1, 2020, 7:00 am
Generation Rent has been criticised for claiming that homelessness could treble this year unless the government acts to help private renters. The analysis it has produced today wrongly assumes that landlords are doing nothing to support tenants to stay in their homes where rent arrears are building, according to the National...
Posted: July 1, 2020, 7:00 am
Boris Johnson’s “Build Build Build” announcement yesterday was designed to help drag the UK economy out of what could prove to be a steep recession, with a programme to spend billions of pounds on infrastructure to build back to prosperity. In his speech, the prime minister confirmed his commitment to long-term...
Posted: July 1, 2020, 7:00 am
New regulations that are designed to strengthen electrical safety practices and bring in line with those already well-established within gas safety regulations in private residential tenancies have been introduced.  The regulation will initially affect private residential tenancies; new tenancies from today (1 July 2020) and those tenancies already in existence from 1 April 2021. The proposal...
Posted: July 1, 2020, 7:00 am
Buy-to-let landlords remortgaging are currently doing so with a view to adding to their buy-to-let portfolios, according to Mortgage for Business. The buy-to-let broker says 30% of property investors are now taking out a BTL remortgage with a view to expanding their portfolio and growing their cash reserves. The research also indicates...
Posted: June 30, 2020, 7:00 am
Mortgage approvals plummeted to an all-time low in May, leaving many would-be buyers with no alternative but to rent for longer.  The latest Bank of England data shows that the number of mortgage approvals in May fell far short of expectations, with only 9,300 approvals, as the Covid-19 pandemic pushed the...
Posted: June 30, 2020, 7:00 am
There has been a significant increase in demand for buy-to-let properties in recent weeks, according to Landbay.  It would appear, based on recent mortgage lending data, that many buy-to-let landlords have acknowledged the fact that in a weaker economy, people tend not to buy homes and rental demand increases relatively. The next...
Posted: June 30, 2020, 7:00 am
New rules and how the Electrical Inspection Condition Reports (EICRs) requirements for rented homes in England are changing have sparked debate and confusion in the PRS.  Many landlords and letting agents were led to believe, mistakenly, that they did not need to concern themselves with tenancies that started between 1 June...
Posted: June 30, 2020, 7:00 am
Swansea Building Society has cut rates across its buy-to-let and holiday let mortgage ranges.  Products now start from 4.25% to 3.55% variable up to 60% loan-to-value (LTV) and from 4.75% to 3.95% variable up to 70% LTV. In addition, the Society has changed the calculation used to stress test the mortgage payment...
Posted: June 30, 2020, 7:00 am
Buy-to-let landlords suffering hardship as a result of the coronavirus pandemic can defer their July tax payment on account, but taxpayers who have the money are being urged to pay now in order to avoid being faced with a double bill.   Most self-assessment taxpayers make one tax payment in January and...
Posted: June 29, 2020, 7:00 am
Family Building Society has introduced rate cuts across its buy-to-let mortgage range, as well as its owner occupier products.  Rates have been reduced across its fixed and discounted range, while the BTL loan-to-value has been increased at 65%.  Keith Barber, director of business development at Family Building Society, commented: “As the property...
Posted: June 29, 2020, 7:00 am