Page 195 – Property118

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 […]

How to turn non-profitable headache portfolios into slick, high profit machines again

2nd August 2024

Landlord Sales Agency has been touted as the UK’s best company for landlords to go to who are looking to increase the profits of their property portfolios. Known as the “portfolio exit specialists,” the LSA focus on tightening up landlord portfolios by cutting the chaff of low performing properties, crucially selling them in a way […]

Knight-themed Landlord Crusader logo symbolizing landlord advocacy

EPCs for the PRS: Ed Miliband fires the starter gun for a landlord exodus

2nd August 2024

Here we go again with energy performance certificate (EPC) ratings needing to be a minimum of C for the private rented sector but not homeowners, social housing or government buildings. Ed Miliband was rather slovenly when sprawling over the despatch box to tell MPs that landlords will have a deadline of 2030 to meet. That’s […]

Picture of streets in the UK landlord HMO licensing schemes property118.com -

Definition of HMO under selective licensing?

2nd August 2024

Hi, I received an email from LCC selective licensing update. This is the email below: The newsletter is distributed to a House in Multiple Occupation and Selective Licensing mailing list to over 2350 landlords, 129 Letting/Managing agents registered within Leicestershire, 8 Landlord Associations and individuals who have asked to receive it. We hope this change […]

Portrait of a business leader in suit and tie

House prices set to rise in Edinburgh due to unique growth factors

2nd August 2024

A letting agency predicts Edinburgh’s house prices will rise due to the city’s unique circumstances. Scotland’s largest letting agency DJ Alexander says over the last decade Edinburgh has seen a surge in highly skilled, well-paid workers from around the world, which has boosted its economy and housing market. DJ Alexander is urging the Scottish government […]

Business professional in light blue blazer smiling against grey background

Landbay cuts BTL rates and Aldermore unveils new products for landlords

2nd August 2024

Buy to let lender Landbay has announced rate reductions and new product launches to support landlords. It has cut rates by up to 0.40% on standard two-year fixed products available up to 75% loan-to-value (LTV), with reductions of up to 0.30% for 55% LTV options. The firm has also introduced two new standard two-year fixed […]

Pic of a snad castle and a union flag for holiday lets uk property118.com

Where short-term lets are squeezing the UK housing market

2nd August 2024

New figures reveal a dramatic rise in short-term lets across the UK, with Hartlepool experiencing a staggering 122% increase in listings last year. Blackburn and Tamworth also saw their short-term rental markets double in size, according to analysis by SFG20. There were also increases in Rochdale (89%) and Trafford (75%). The organisation provides advice on […]

Mature woman reviewing property bills with calculator at home office

Renters struggle under financial pressure with no income protection

2nd August 2024

More than 11.6 million renters risk losing their homes if they become ill, injured, or are made redundant, according to new data. Research by life insurance companies LifeSearch and Canopy reveals that 74% of renters don’t have income protection insurance, which helps cover expenses when they can’t work. Only 8% of renters reported having an […]

to let sign outside HMO renters reform bill proprty118.com

One in five renters forced to find rent guarantor

2nd August 2024

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 […]

Bank of England cuts interest rates – the property industry reacts

2nd August 2024

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 […]

Property expert slams tax changes for driving landlords out of the market

2nd August 2024

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 […]

10 Reasons Why Buy-to-Let Property Investment is Dead in London

1st August 2024

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 […]

UK house price growth picks up steam

1st August 2024

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 […]

Dan Wilson Craw, the deputy chief executive of Generation Rent

Generation Rent says ‘homes, not landlords’ is the key to rent affordability

1st August 2024

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. […]

New homes under construction in Northern Ireland housing development

Labour’s Green Belt plan could deliver 738,000 new homes

1st August 2024

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 […]