Page 177 – Property118
House and percentage symbol balanced on wooden seesaw representing mortgage rates.

More BTL lenders announce rate cuts and new products

7th August 2024

Buy-to-Let by Foundation is among a slew of lenders to unveil new products and rate cuts designed to appeal to a wider range of landlords. The new offerings include: Limited Edition Products: Two new limited edition fixed-rate deals, one for borrowers with a strong credit history and another for properties with a high Energy Performance […]

Selective licensing schemes see landlord costs soar – Direct Line

7th August 2024

Landlords across England are facing an increasingly heavy financial burden as local councils ramp up selective licensing schemes, research reveals. English councils are charging landlords almost £700 on average to obtain mandatory selective licenses, with costs varying wildly across the country. According to the study by Direct Line, Leicester city council tops the list with […]

Students sitting around a coffee table

Just one in six university campus rooms are affordable for students

7th August 2024

Just 17% of on-campus university rooms in the UK are classed as affordable for students – that’s one in six available rooms, Generation Rent reveals. It says the research highlights a severe shortage of budget-friendly accommodation. And universities are accused of ‘raking it in’ as landlords despite claiming to care for their students’ ‘wellbeing’. The […]

Row of Victorian terraced houses in London symbolising strong buy-to-let investment potential

Tenants are searching further afield for a home amid rental shortage

7th August 2024

The UK’s rental market remains intensely competitive, with tenants facing a perfect storm of surging demand, dwindling supply and escalating rents, Rightmove says. Its research reveals a stark picture of a private rented sector (PRS) that’s out of kilter with tenant demand – and more landlord investment is need. While the number of enquiries per […]

Home with energy rating label illustrating need for efficiency upgrades in PRS properties

Labour confirms its EPC plan for landlords – Propertymark calls for ‘incentives’

7th August 2024

Labour has confirmed plans for rented properties to achieve a minimum Energy Performance Certificate (EPC) grade C by 2030. Miatta Fahnbulleh, the Under Secretary for Energy Security and Net Zero, confirmed the initiative, emphasising the government’s commitment to reducing fuel poverty. In a written question, Green MP Ellie Chowns asked: “To ask the Secretary of […]

NRLA backs landlord database plan

6th August 2024

The National Residential Landlords Association (NRLA) has thrown its weight behind government plans for a new landlord database, insisting it could be a tool to weed out criminal landlords. However, it warns against unnecessary red tape for responsible landlords. As a member of the Lettings Advisory Board, the NRLA has helped shape proposals for the […]

property prices, rents,

Landlords using OpenRent to lose Rightmove access

6th August 2024

Landlords using OpenRent to find tenants will lose Rightmove access, it has been announced today (6 August). Rightmove says it has ended its partnership with OpenRent, meaning private landlords using the online letting agent will no longer be able to advertise their properties on the UK’s largest property portal. The decision follows a breakdown in […]

Gardener pruning fruit tree branch with secateurs and gloves

Is tree pruning the responsibility of the landlord or tenant?

6th August 2024

Hi, a long term tenant of mine has requested I pay for the pruning of a couple of trees that are on the property, specifically an apple and acer tree. This request is unusual for me, as I have never covered the cost of tree pruning before. Unless the trees are in a dangerous condition, […]

Potential CGT changes could cost landlords £11,000

6th August 2024

The UK’s landlords could be £11,000 worse off on average if capital gains tax (CGT) rates are adjusted to match income tax rates, research reveals. Quilter, a wealth management and financial advisory firm, says this potential change, although not mentioned in Rachel Reeves’ recent House of Commons speech, could be part of broader measures to […]

pic of a block of flats

Flats emerge as the top buy to let investment

6th August 2024

Falling property values and soaring rents make flats the most profitable option for landlords, according to new research. The findings from Inventory Base show that flats currently offer the highest returns for BTL investors. Despite a slight decrease in average flat prices, rental values for flats have surged by 9.3% annually, outpacing all other property […]

Landlords fear Labour government as demand outstrips supply

6th August 2024

Supply and demand are still out of balance as landlords worry about what a Labour government might do. Propertymark’s Housing Market Insight report reveals demand continues to outstrip supply, with around nine new applicants registered for each available property in June 2024. The report also reveals rents fluctuate by market and region, but most members […]

Rough sleeping in London surges as charities demand action

6th August 2024

The number of people sleeping rough in the capital rises as charities call on the government to do more. According to the Combined Homelessness and Information Network (CHAIN), 4,223 people were sleeping rough in London from April to June 2024, up from 3,272 in the same period last year – an increase of 29%. The […]

Housing Minister speaking on leasehold and commonhold reforms

Labour: Landlords can’t evict tenants if it makes them worse off

5th August 2024

Labour is looking to prevent landlords from evicting tenants who have nowhere else to live, the Telegraph reports. It says government ministers will propose imitating a French scheme which has ‘hardship tests’ that must be followed before an eviction is allowed. The rule effectively bans evictions that would leave a tenant worse off. Supported by […]

Sublet Registration fees?

5th August 2024

Hi, I’m looking for advice on sublet registration fees. Case law appears to indicate that if ‘classified’ as registration fees , the rights of redress via 1st tier tribunal do not apply? (Robinson and Green vs Simarc). Does this mean freeholders can charge whatever they wish for ‘registration’? Is there any guidance on rolling/periodic tenancies […]

Can I change title deeds for small industrial estate?

5th August 2024

Our company has a small industrial estate with 8 units, these were all built upon land that is registered to my parents as the land was originally purchased to use for my father’s engineering business. Over a period of 35 years, he has built 8 units which are now individually let and the income is […]

MFS and Landbay cut BTL mortgage rates in a competitive market

5th August 2024

Specialist lender Market Financial Solutions (MFS) has announced rate reductions across its product range, including its innovative Bridge Fusion product. The firm has lowered rates on its Bridge Fusion offering, a hybrid of a bridging loan and a buy to let mortgage, which provides borrowers with a longer term of 24-36 months for loans up […]

Can I terminate landlord agreement without paying fees?

5th August 2024

Hello, I have a portfolio of eight rental properties in the Kent area and they are managed by a local letting agent on a full management agreement. This agent took over from a previous agent, who had managed my properties for 20 years. During this time I did not sign a contract or receive any […]

CLA warns of the economic impact of abolishing FHL tax relief

5th August 2024

The Country Land and Business Association (CLA) has criticised the government’s decision to abolish the Furnished Holiday Lettings (FHL) tax regime, arguing it will stifle economic growth, particularly in rural areas. The move follows the publication of draft legislation outlining the removal of the FHL scheme from April 2025. Previously announced by then-Chancellor Jeremy Hunt […]

Propertymark has published a report about the impact of Section on landlords and the private rented sector

Propertymark says Section 24 tax change is fuelling the rental crisis

5th August 2024

A government policy intended to level the playing field for landlords has instead sparked a crisis in the private rented sector (PRS), new research from Propertymark reveals. Section 24, introduced in 2015, restricted tax relief on mortgage interest payments for buy to let investors. While designed to reduce property speculation, the measure has had far-reaching […]

The Realities of Private Sector Landlords: Profit, Costs, and the Rental Market

5th August 2024

In recent years, the private rental market has come under intense scrutiny, with accusations of landlords profiteering at the expense of tenants. On average, tenants are spending about 38% of their income on rent, raising questions about the fairness and sustainability of the rental market. However, a closer examination reveals that the financial pressures faced […]

Lady Justice statue with scales symbolizing law and fairness in eviction debate

SRA to investigate landlord and tenant solicitors amid surge in complaints

5th August 2024

The Solicitors Regulation Authority (SRA) is launching an investigation into landlord and tenant law solicitors following a sharp rise in complaints about their services. The regulator has reported a 49% increase in complaints related to landlord and tenant law, with more than half citing a lack of legal knowledge among solicitors. Concerns have also been […]