Page 214 – Property118

Michael Gove’s leasehold reforms quietly hit the buffers

26th March 2024

The ambitious overhaul of England’s leasehold system looks set to hit the buffers after Treasury officials quietly axed part of the reforms, The Times reports. The Housing Secretary, Michael Gove, has been pushing for leasehold reform saying leasehold is ‘outdated feudal system that needs to go’. However, it appears that the Treasury and Number 10 […]

Photo of Gina Peters author of 'Lettings Law for Property Professionals' property118.com

Landlords face crisis as government reforms loom large

25th March 2024

“The Renters (Reform) Bill looms over most landlords like the Sword of Damocles”, is how one legal expert describes the current situation in the rental market. Gina Peters, head of landlord and tenant at law firm Dutton Gregory, says many landlords are on the verge of throwing in the towel as the Renters (Reform) Bill […]

Landlord stressed over paperwork and new rental legislation at his desk

Will the council fine me £30,000 for not having a license?

25th March 2024

Hello, I have received an email from Brent Council to apply for a landlord license, which I am working on now to meet the 1 April deadline. However, I remembered I haven’t heard from Ealing Council with regard to licencing a flat I am letting there. Upon checking Ealing Council’s website, I found out that […]

The times newspaper logo

The Times wants to hear from landlords who are in mortgage arrears

25th March 2024

A journalist at The Sunday Times would like to hear from landlords who are in mortgage arrears or who have had a property repossessed, amid a surge in landlords being forced into the red by higher rates. Rachel Mortimer, the assistant money editor from The Times, would also like to speak with accidental landlords with […]

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Scottish house prices up £12,379 as market shows resilience

25th March 2024

Scottish house prices have defied economic turmoil to surge by £12,379 in the last year, according to new figures.  Analysis DJ Alexander Ltd, Scotland’s largest estate agency, revealed a significant rise in average house prices from £177,949 in February 2023 to £190,328 in January 2024. This contrasts sharply with the rest of the UK, where […]

Permitted occupant tenancy agreement landlord question property118

What is considered a fair rent increase or are there limitations?

25th March 2024

Hello, I currently have two properties, both of which have AST for 12 months. The current tenants have lived in the respective properties since 2020, pay their rent on time and keep the properties in a reasonable clean status. Since 2020, we have deliberately not increased the rent on either property, as we did not […]

Most landlords don’t understand the Renters (Reform) Bill – survey

25th March 2024

While the controversial Renters (Reform) Bill is making its way through Parliament, most landlords don’t know what is in it, a survey finds. The Bill will deliver one of the biggest changes to England’s private rented sector. Among the issues are the end of fixed term tenancies and the abolition of Section 21 ‘no-fault’ evictions. […]

Londoners are leaving the capital in droves

25th March 2024

There has been a surge in Londoners leaving the capital with Epsom and Ewell, Epping Forest and Dartford topping the list of relocation hotspots, a survey reveals. The research from Savills found that between January 2022 and August 2023, 6% of all moves outside of London were from the capital. This figure jumps significantly in […]

Angela Rayner slams ‘smears’ over council house sale

22nd March 2024

Angela Rayner has slammed the allegations of tax evasion over her council house sale as a ‘smear’ in a BBC Newsnight interview. The deputy Labour Party leader insists there was ‘no wrongdoing’ or ‘unlawfulness’ in the sale of her Stockport home. The allegations first appeared in the Daily Mail and a biography by Lord Ashcroft, […]

How do I end an unlicensed HMO in Newham?

22nd March 2024

Hello, any advice is much appreciated. I have an unlicensed HMO in Newham which I need to draw to an end with minimum financial ruin…. I was living there with 2 lodgers. 6 months ago I moved out and another lodger moved in. They are all on lodger agreements – are you understanding that this […]

Foundation – The Lender with many criteria quirks!

22nd March 2024

Foundation Homeloans, are one of the more flexible lenders and recently had a bit of a shake-up.  Landlords will be interested in some of the quirks: They have a ‘solution’ based approach where they will consider most cases and let us know if they can help. Speaking to their lending manager recently, he has expressed […]

Frustrated woman with steam coming out of her ears, symbolizing anger and stress.

Landlords: Enervating bureaucracy and sullen rage!

22nd March 2024

I think this might be of interest to landlords and others who feel under the cosh of government. A new book (albeit with an American perspective) Everyday Freedom: Designing the Framework for A Flourishing Society by Philip Howard has lessons for us. Howard explains why government functions so poorly and why bureaucracy and litigiousness have […]

What next for Property Prices and Buy To Let Mortgage Interest Rates?

22nd March 2024

Curious about how the Bank of England’s interest rate decisions sway property prices? In this video, Ranjan Bhattacharya breaks down the complex relationship between interest rates and the housing market. Discover the key factors driving interest rate changes and learn how they influence property values. From analysing historical data to predicting future trends, Ranjan offers […]

pic of a dog having a bath renters reform and the right to keep pets property118

Homeowners fork out millions to pay for pet damage

22nd March 2024

Landlords worried about tenants with pets might be interested in research about pet-loving Brits who are forking out millions on DIY repairs caused by their furry friends running amok at home. Under the Renters (Reform) Bill, landlords won’t be able to refuse a home to a tenant with a pet without good reason. Now, research […]

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UK rent growth slows but tenant affordability is a ‘challenge’

22nd March 2024

The average UK rent has risen by 7.8% to £1,223 in the past year, but the pace of growth is starting to slow, Zoopla reveals. The property portal says this growth slowdown will continue this year – it is predicting a 5% rise in rents in 2024. One reason for that is that tenant demand […]

Landlord overwhelmed by paperwork and financial documents while managing rental property changes.

Survey uncovers landlords’ worries and preferences in the rental market

22nd March 2024

More than half of landlords are concerned about upcoming legislative changes, according to a survey. A government survey reveals that 62% of landlords are worried about legislative changes in the private rented sector. Landlords with smaller portfolios are particularly worried about navigating tax changes (52%) and unpredictable tenant behaviour (50%). Unwilling to let to tenants […]

Council’s selective licensing scheme deadline is looming

22nd March 2024

One of the country’s largest selective licensing schemes will go live in two weeks’ time and landlords are being urged to sign up. Brent Council will have borough-wide licensing in place for all private rented homes, excluding Wembley Park. The council claims that its scheme will boost tenant living conditions and ‘build on Brent’s positive […]

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BoE holds interest rate at 5.25%

21st March 2024

The Bank of England’s Monetary Policy Committee has decided to hold the base rate at 5.25% – for the fifth meeting in a row. The current rate, which was set last August, is the highest for nearly 16 years. Economic experts are predicting that rates will fall later this year. A key tool in controlling […]

Wooden house model beside a paper with the word “BENEFIT,” symbolizing housing benefit payments.

NRLA and Generation Rent welcome call to uprate LHA

21st March 2024

MPs on the Work and Pensions Select Committee say that Local Housing Allowance should be uprated every year by the Government so that it retains its value at the 30th percentile of rents in a rental market area. LHA rates have been frozen since April 2020 and from April this year, the LHA rate will […]

Extremely rigorous tenant screening, insurance and total protection?

21st March 2024

The title speaks for itself. Unfortunately, it has taken a year to the day exactly to evict non-paying tenants. This is the first time in 30 years I’ve had any issues, but it has now made me concerned that my experience could happen again. I want to be as protected as I possibly can be […]