Survey Reveals the Truth Behind ‘Landlord Exodus’ Claims
A new survey pours cold water on the claim that landlords are abandoning the private rental sector in droves.
The press loves a dramatic headline, don’t they?
Back in December, one national newspaper ran this thundering warning: ‘The devastating landlord exodus about to hit Britain.’
Other mainstream and specialist property news outlets followed suit, claiming that the private rental sector was facing Armageddon.
Landlords were set to exit the sector at a rapid rate because of increased regulation and rising costs, they said
Nine months … Continue Reading…
July Market Update
The market feels like it’s stalling at the moment, maybe because of holidays, maybe because of interest rates and affordability or maybe because of confidence. It could be a combination of all factors.
The two issues which are currently restricting the market are a lack of first-time buyers and an over supply of property. Each first-time buyer that enters the market can generate an upward chain of three or four more sales illustrating first time buyers are the life blood of … Continue Reading…
Messy Neighbours Could Cost You Dear: Here’s What to Do About It
Unattractive or poorly maintained neighbouring properties can slash the selling price of a home by an average of £42,880, according to Churchill Home Insurance.
The biggest value losers are rubbish in the front garden (a possible 30% loss), too many garden ornaments or statues (28%) and broken/boarded up windows (27%). Losses range from almost £89,000 in expensive places like London to £25,000 in others.
If you have a problem with messy neighbours, here are some possible solutions.
Have a quiet chat
Sometimes neighbours … Continue Reading…
Alarming Fire Safety Statistics Will Shock Tenants and Landlords
How often do you test your smoke alarm? If you’re like most Brits, the answer is probably not regularly enough.
House fires can be devastating, destroying property and in some cases even causing loss of life.
However, many people fail to follow even the most basic precautions to prevent serious blazes.
Take smoke alarms. They’re a critical fire safety tool, but, according to a new study, the majority of Brits are lax when it comes to checking if they actually work.
How often should … Continue Reading…
Renters’ Rights Bill is Almost Ready to Roll: Important Update
The Renters’ Rights Bill has just concluded its passage through the House of Lords. Here’s an update on what happened and a look at what comes next.
What is the Renters’ Rights Bill?
The Renters’ Rights Bill is said to be the biggest change to landlord-tenant law in a generation.
Key changes, to name just a few, include the end of fixed-term tenancies (all tenancies will become rolling, periodic tenancies). There will also be new rules on evictions. No fault evictions will not … Continue Reading…
New Survey Sheds Light on How Often Brits Move Home
While some people only move a few times in their lives, for others it’s a very different story.
When it comes to moving home, how typical are you?
Are you the restless type who ups sticks every few years?
Or have you been settled in the same property for decades and have no intention of moving again, ever?
To find out how you compare with the rest of the country, take a look at the results of a new survey on how frequently people … Continue Reading…
Who’s Responsible for Insurance? Landlord or Tenant?
Less than half (46%) of tenants have contents insurance, according to a new report*. Which begs the question: Is your rental property properly insured? Here’s what landlords need to know.
Who’s responsible for insurance in a buy-to-let?
In a buy-to-let, the responsibility for insurance is split between the landlord and the tenant.
Insurance is based on the principle of insurable interest. You insure what you own (and what you stand to lose if things go wrong). You don’t insure what you don’t own.
But … Continue Reading…
Property Update: The Latest on Mortgages, Market Activity and Prices
New housing market data indicates that buyer interest is increasing, while prices remain resilient.
Industry analysts had plenty of numbers to crunch last month, with the Bank of England and property portal Zoopla releasing insights on the state of the economy and housing market.
Let’s look at what the figures mean for buyers and sellers.
Mortgage approvals
Perhaps the best news came from the Bank of England’s Money and Credit report, which covered activity in May.
It showed that net mortgage approvals (an indicator of … Continue Reading…
Finding the Best Letting Agent – Advice for Landlords
Owning a buy-to-let can be a challenge, especially in the current market.
If you’re looking for a letting agent to help you let or manage your property successfully, here’s how to find the very best one.
Firstly, do they work in your area? Are they the local experts?
It may seem obvious, but there’s no point in using a letting agent who doesn’t specialise in the area where your property is located. Or one who doesn’t know it well.
Do a little searching for … Continue Reading…
Should Mortgage Rules Be More Flexible to Help First-Time Buyers and the Self-Employed?
The financial watchdog is asking whether mortgage rules should be more flexible to help older buyers, the self-employed and reliable renters get on the property ladder.
UK society has changed dramatically over the past decade.
There have been huge shifts in the way Brits live and work and when they retire.
Meanwhile, property prices have grown faster than wages, impacting affordability.
But has the mortgage landscape kept pace with this transformation?
Or should more be done to boost access to home ownership?
The Financial Conduct Authority … Continue Reading…