Page 218 – Property118
Business person pointing at a glowing question mark, symbolising uncertainty about leaseholder rights

Why is the NRLA supporting anti-landlord needs?

12th March 2024

Hello, We all know that politicians of all parties have some very strange ideas and like to waste our money, but it’s unbelievable that an organisation whose members are landlords has an anti-landlord policy. Does Ben Beadle even know that most landlords are strongly against the banning of Section 21? He should be supporting us […]

Throwing the baby out with the bathwater?

11th March 2024

I was going to buy x 2 houses and turn them into HMO’s to put on long-term leases to SERCO (approx 100k each). On paper, it looks good and the numbers are appealing. Then I started reading horror stories about dealing with SERCO. Some landlords talk negatively of Serco specifically, but others discussed negative experiences […]

Council to buy homes with a REIT to tackle homelessness

11th March 2024

A London council has announced it will create a Real Estate Investment Trust (REIT) to secure homes for housing homeless people and families. The council’s strategy involves leasing back 300 properties from the RIT to boost its temporary housing capacity. The innovative REIT, which is yet to be officially launched, will purchase and lease out […]

Scottish Parliament

Scottish landlords hammer rent cap proposals in government consultation

11th March 2024

The Scottish Government has published the results of a public consultation on its New Deal for Tenants proposals and found that, unsurprisingly, most tenants support rent controls – while landlords have hammered the idea. The publication of the responses makes clear some puzzlement over the negative response from landlords about the proposal to prevent rent […]

Two dogs and cats pose for a picture

Landlords underestimate perks of pets in properties

11th March 2024

 Landlords underestimate the financial advantages of allowing pets in properties, according to a new report. According to a study by Battersea Dogs and Cats Home dismisses so-called “myths about pets and assumed damages.” The data was collected from more than 2,000 private landlords and 1,000 private renters. 76% of landlords did not encounter any damage […]

ECO 4 Anyone

Will insulation save the planet?

11th March 2024

Hi, I just got the following warning about insulation from rogue traders passed on by trading standards: “Trading Standards is warning residents to be cautious of spray foam insulation removal scams. Spray foam is an alternative to traditional insulation. However, if not properly installed it can cause problems and even decrease the value of a […]

February saw the biggest house price rise in 17 months

11th March 2024

UK house prices saw average values rising by £3,000 in February, data reveals. The findings from chartered surveyors, e.surv, say this equates to a 0.8% increase from January – the biggest monthly rise for 17 months. The firm says that house prices rose in 54 unitary authority areas out of 111. Homeowners in Merthyr Tydfil […]

Knight-themed Landlord Crusader logo symbolizing landlord advocacy

Budget 2024: Landlords let down by the government again. What to do?

8th March 2024

This week’s Budget brought significant changes for landlords, with implications for capital gains tax (CGT), furnished holiday lets relief, and multiple dwellings relief. As the dust is still settling, let’s consider their impact on our investments and the rental market. In a speech that only had one bright spot – the gag at the expense […]

House prices will fall 2% this year – OBR

8th March 2024

The Office of Budget Responsibility (OBR) has released its Spring Budget forecast, predicting a 2% drop in house prices this year. And the OBR admits in its briefing papers that the cut in Capital Gains Tax IS aimed at reducing the number of landlords and second homeowners (see below). Its house price forecast for 2024 […]

Surge in buy-to-let landlords plunging into mortgage arrears

8th March 2024

The number of buy-to-let landlords falling into arrears has surged, according to new figures. According to UK Finance, more than 40,000 BTL landlords (41,090) fell into arrears on their mortgage payments in 2023, an average of 10,273 per quarter. UK Finance says cost-of-living pressures and high-interest rates have caused trouble for landlords in recent months. […]

Renters (Reform) Bill is on the brink of ‘collapse’ – claim

8th March 2024

The controversial Renters (Reform) Bill which is set to abolish Section 21 ‘no-fault’ evictions is on the brink of collapse, The Sun newspaper claims. Quoting Whitehall insiders, the newspaper says ‘angry Tory MPs’ are holding the Housing Secretary Michael Gove ‘to ransom’ in a bid to force changes. The Bill was promised in the Conservative’s […]

Durham’s student landlords accused of ‘panicking’ amid rent price drops

8th March 2024

An investigation by the Palatinate, Durham University’s student newspaper, reveals that estate agents in Durham have slashed prices for student properties available in the 2024/25 academic year. The move comes after imposing hefty rent increases at the start of the year. The most common price range for Durham properties has plummeted from £180-199 per person […]

Modern Scottish Parliament building in Edinburgh with Calton Hill in the background

Industry bodies urge government action as housing emergency grips Scotland

8th March 2024

An industry body claims that Scotland has moved past a housing crisis and is in the midst of a housing emergency. The Chartered Institute of Housing (CIH) in Scotland declared a housing emergency at the Scotland Housing Festival this week. Last year, housing emergencies were declared in Edinburgh, Argyll and Bute and Glasgow. With mounting […]

Landlord working out service charge demands property118

Non compliant service charge regime since 1993?

8th March 2024

Hi, my daughter is a newcomer in a block of flats. A young NHS carer and a first-time buyer the lease is for 999 years. A company (let’s call them X) holds the freehold via a share in the company she has a 1/35th share in the freehold. The leaseholders (most of whom take little […]

How FHL abolition will impact UK holiday let owners

7th March 2024

Landlords and owners operating furnished holiday lettings (FHL) may still be reeling from Chancellor Jeremy Hunt’s announcement in the Budget that tax relief will be abolished from 6 April 2025. Now tax accountants BDO have revealed what the financial impact will be from next year. Paul Falvey, a tax partner at the firm, said: “While […]

You CANNOT afford to miss this!

7th March 2024

Last night you were invited to learn all about the No Mortgage – No Deposit Strategy in a live online Master Class with me, Simon Zutshi. I hope you were able to get in because it was oversubscribed. If you were able to listen in live, as we did, your head is probably still spinning […]

Professional portrait of a business executive representing Foundation Home Loans’ Buy to Let relaunch.

Buy to Let by Foundation launches new HMO products for first-time landlords

7th March 2024

Buy to Let by Foundation, the BTL brand of Foundation Home Loans, has unveiled two innovative HMO products tailored specifically for first-time landlords. The criteria for first-time landlords, as defined by the lender, include individuals who have not managed a residential buy to let property in the past 12 months. Also, applicants must currently be […]

UK house prices rise for fifth consecutive month

7th March 2024

UK house prices have risen for the fifth consecutive month, rising by 0.4% in February, Halifax reveals. The rise is equivalent to £1,091 in cash terms and the average house price is now £291,699. House prices are 1.7% higher than a year ago, although this growth has slowed from 2.3% in January. However, the average […]

Buy to let lenders announce new products and lower rates

7th March 2024

Several buy to let lenders have updated their products and rates to attract more landlords and investors. The Mortgage Works (TMW), a specialist BTL arm of Nationwide, has cut its Interest Cover Ratios (ICR) for both higher and lower rate taxpayers, as well as its ‘existing portfolio rental calculation’ stress rate. This means that landlords […]

Rent arrears soar amid economic woes

7th March 2024

Tenants are facing mounting difficulties in paying their rent as the economic situation worsens, research reveals. The data from Reposit, the FCA-regulated deposit alternative, found a worrying increase in the value of rent arrears claims. They jumped from £1,344 in October to £2,108 in November and remained high at £1,954 in December. At the same […]