One in five private tenants has been forced to use a rent guarantor to secure their home as competition to secure a tenancy intensifies, research reveals. Housing Hand has analysed the latest English Housing Survey data which revealed that 21% of private renters – 940,000 households – were required to provide a guarantor when moving […]

In good news, the Bank of England has cut interest rates from 5.25% to 5% for the first time in four years. The property industry is responding positively, as many experts believe this cut will help bring down mortgage rates and provide a much-needed boost to the market. Bank of England has rolled the dice […]

Tax crackdown on landlords is making Britain’s housing crisis worse, says property expert. Guy Gittins, chief executive of letting agents Foxtons, told The Telegraph that recent tax changes such as Section 24 have discouraged buy-to-let landlords from entering the market. In the March budget this year, former Chancellor Jeremy Hunt scrapped the multiple dwellings relief […]

The Bank of England has announced a major cut in interest rates for the first time in four years. The BoE has cut interest rates from 5.25% to 5%, offering a sigh of relief to many people. In a close vote, the Bank of England’s Monetary Policy Committee voted 5 to 4 to cut interest […]

In this video, Ranjan Bhattacharya dives into the top 10 reasons why buy-to-let property investment in London is no longer a viable option. Ranjan covers all the critical factors driving investors away from the London market. Whether you’re a seasoned investor or considering your first property purchase, this video provides essential insights you can’t afford […]

The average UK house price climbed 0.3% month-on-month in July, marking the fastest pace of growth since December 2022, new figures from Nationwide reveal. It says the annual rate of house price inflation is 2.1%, up from 1.5% in June. Despite the uptick, prices remain 2.8% below the peak reached in summer 2022. The average […]

Metropolitan areas in England that significantly increased their housing stock since 2015 are more likely to have experienced improved rent affordability, according to an analysis by Generation Rent. The study, based on recent Office for National Statistics rent data, found a correlation between building more homes and reducing rent as a proportion of average income. […]

Labour’s proposal to reclassify a small portion of green belt land could significantly impact the housing market, according to research by Lomond. Its study indicates that utilising just 1% of the green belt could yield more than 738,000 new homes, nearly half of Labour’s ambitious target of 1.5 million new homes. Lomond’s analysis examined current […]

The gap between the number of tenants and available rental properties is set to narrow by 2030 – but there will still be more than two tenants chasing every property, research reveals. Tenancy deposit alternative Zero Deposit says that tenant demand underscores the ongoing challenges faced by renters wanting accommodation. The firm analysed England’s private […]

The Housing Ombudsman has announced a special investigation into Lewisham Council following a damning record of complaints handling. A staggering 85% of cases against the council have been found to be instances of maladministration over the past year, with 16 of these deemed severely so. The situation is particularly dire in cases involving leaks, damp […]

Landlord insurance can be daunting but getting a quote might be easier than you think. To get an accurate and comprehensive quote you’ll need to provide specific information about your rental property. Here at Property118, we’ve teamed up with The Home Insurer which helps provide a top-class personalised service and could help save you money […]

Local authorities are missing out on millions of pounds in tax revenue due to a loophole allowing holiday homeowners to avoid paying both council tax and business rates. That’s the verdict of property consultancy Colliers which stresses it doesn’t blame the homeowners for taking advantage of the tax break when making their properties available to […]

Hi, can anyone tell me if legal documents posted by Whatsapp and/or email are considered legally acceptable and ‘served’ by the courts? I have two ex-tenants who refuse to give me their new addresses, but as I can send them emails and they both have Whatsapp, can I send them letters before action using either […]

Can you help us, please? We hope Property118 has been a valuable resource in your property investment journey. We aim to provide the latest insights, news, and a platform to ask questions and share best practices with your peers, to help you navigate the ever-changing Private Rented Sector. It costs around £32,000 a month to […]

A perfect storm of soaring demand and limited supply of homes has pushed rents to unprecedented levels, according to the latest Goodlord Rental Index. The average cost of renting a property in England surged by 7.5% year-on-year, shattering previous records set just last summer. With the traditional letting peak underway, July saw rents jump 20% […]

Paragon Bank has refreshed its product range, offering landlords more competitive buy to let mortgage options. Rates for single self-contained properties with energy efficiency ratings A-C begin at 3.89%, rising to 3.94% for homes with EPC D or E. These deals are available at 70% loan-to-value (LTV) with a 5% fee. ‘Landlords looking for two-year […]

London’s private rented sector (PRS) is a key driver of the UK economy, contributing a substantial £14.6bn to the nation’s wealth, a new report reveals. A study by PwC, commissioned by the National Residential Landlords Association (NRLA) and Paragon Bank, underscores the PRS’s economic significance. The sector supports 128,000 jobs in the capital alone, highlighting […]

Angela Rayner has warned that councils will be stripped of planning powers if they fail to meet housing targets. Under new plans announced by the Housing Secretary mandatory housing targets will increase from 300,000 to 370,000. Ms Rayner says councils that fail to meet targets will be compelled to build on low-value “grey belt” land, […]

Hi, I’ve got a good tenant who’s been paying £800 a month to rent my property. From research on Rightmove and also local feedback suggest that the going rate should be around £1,000 a month. I’m thinking of raising the rent by £75 a month, which would bring it up to £875. Is raising the […]

The boss of property listings website Zoopla, Charlie Bryant, says that being a private landlord is no longer financially viable – and corporate landlords will move into the market. Speaking to the Telegraph, Mr Bryant, who leads Zoopla’s parent company Houseful, highlighted that individual buy to let investors are retreating from the private rented sector […]

Hi, I am a director of a management company. A month ago, I appointed a block management company which was suggested by one of the leaseholders as the previous one was not helpful and incapable of managing our flats. As I was told that I could not be the only director I asked another leaseholder […]