Letting agents are being urged to do more to protect buy-to-let landlords by preparing now for the government’s plans to scrap Section 21 of the Housing Act, as part of a new Renters’ Reform Bill. PayProp is advising agents to adapt to upcoming changes to the eviction system by updating key… Read More »Section 21 changes: time to prepare for reforms to the eviction system
A man who rented hundreds of properties that he sub-let to criminal gangs running brothels and cannabis farms has been jailed for seven years and four months. Chinese national Feng Xu used several fake identities to secure accommodation, according to the National Crime Agency (NCA). Feng was arrested in Birmingham… Read More »Man who sublet hundreds of properties to criminal gangs jailed
With savers receiving poor returns from banks and building societies, thousands of people unsurprisingly continue to turn to residential property as a means of supplementing their income, supported by record-low mortgage borrowing rates, growing demand from renters and stable yields, as buy-to-let consolidates itself as the investment of choice for… Read More »Despite tax and regulatory changes ‘there is still money to be made in the PRS’
The Christmas season is upon us and there is a good chance that your tenants may be going away, leaving your property empty and therefore vulnerable. To help ensure that your property remains protected, there are a number of measures that you and your tenants could take to keep your… Read More »You and your tenants need to be vigilant over the Christmas period
Rents in the PRS continued to grow at a modest pace in November, the latest figures from HomeLet show. The data reveals that the average rent in the UK hit £947 per calendar month (pcm) in November, up 3.2% year-on-year. When London is excluded, the average rent in the UK… Read More »Average rents increase 3.2% year-on-year – HomeLet
Rents look set to rise across much of the UK next year owed in part to a further increase in the number of landlords exiting the buy-to-let market as the impact of legislation continues to be felt, letting agents have predicted, ARLA Propertymark asked its members to share their predictions… Read More »Rents set to rise in 2020 as landlords continue to exit the PRS
The Queen has announced the new government’s priorities for its coming term, and it includes a proposal to abolish Section 21 of the Housing Act and reforming the grounds for possession, as part of a new Renters’ Reform Bill, designed to “introduce a package of reforms to deliver a fairer… Read More »Scrapping Section 21 is ‘another attack’ against BTL landlords
The UK could be heading for a rental crisis, with experts dreading the prospect of a chronic property shortage in the PRS as more than a third of private landlords look to sell up in the next year in the face of lower profits, new research shows. A wide-ranging study… Read More »One in three landlords plan to sell in the next year
Remortgage volumes fell by 20.8% year-on-year to October 2019, UK Finance data shows. First-time buyer activity was more promising, with volumes rising by 2.8% year-on-year. Mark Harris, chief executive of mortgage broker SPF Private Clients, said: “After a very strong year, remortgaging numbers dipped in October, suggesting that many of… Read More »Remortgaging down a fifth year-on-year in October
A rogue landlord in Doncaster has been given a banning order for two-and-a-half years after repeatedly putting tenants’ lives at risk by providing unsafe housing. Almas Rashid, 39, was banned by The Property Tribunal Service from letting any residential property in England and engaging in letting agency work or property… Read More »Landlord handed banning order for putting tenants’ lives at risk
