Page 231 – Property118
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LHA increase – BAP and S13 confusion?

1st February 2024

Hello, I am trying to prepare in advance of 1st April when the new LHA rate is applied. According to S13, a rent increase has to happen on the same day the tenant moved in so for this example let’s say the 29th of the month. So in this example, I issue the S13 on […]

New 85% LTV bridging loan product

1st February 2024

A Loan to Value of 85% is now possible with Lendinvest, including fees and 12-month roll-up interest of 1.09% per month. Below is a recent case study for this product that also incurred a 2% lender fee and a valuation fee of £850. Background – Experienced landlord with redevelopment experience and a fast team of […]

Paragon Bank launches new green buy to let mortgages

1st February 2024

Paragon Bank has announced the launch of new five-year fixed-rate products for buy to let landlords with properties that have high energy efficiency ratings. The products are available on Paragon’s 5% fee option, which is suitable for the purchase or remortgaging of single self-contained (SSC) properties that have an energy performance certification (EPC) of A-C. […]

Chief executive commenting on falling rent prices in England’s private rental sector

Rents and voids rise across England

1st February 2024

The cost of renting a property in England rose by 7% year-on-year in January 2024, with the average monthly rent now £1,154, up from £1,076 in January 2023, one rent index reveals. According to the Goodlord’s data, rents increased by 1% month-on-month in January, following a strong December for the market. The North West saw […]

Ex-housing minister urges government to end the ‘war on landlords’

1st February 2024

Robert Jenrick, the former housing secretary, has urged the government to end its ‘war’ on small landlords. Writing for the Daily Telegraph, he argues that the next Budget should restore mortgage interest relief which was scrapped to discourage buy to let investment. He claims that this policy has backfired, as many landlords have left the […]

Landlords expand and diversify their BTL portfolios amid market confidence

1st February 2024

More than half of buy to let landlords have increased their property holdings in the past year, a new study by The Mortgage Lender (TML) has found. The research, which surveyed more than 1,000 residential BTL landlords, showed that 52% of them acquired more properties in the last 12 months, with 25% buying one more […]

PRS landlords to get £70bn in government housing support, NEF says

1st February 2024

Private rented sector landlords are set to receive more than £70 billion in housing support from the government over the next five years, according to an analysis by the New Economics Foundation (NEF). The think tank found that private landlords will benefit from six times more public money than the government’s planned spending on affordable […]

What changes will Labour make to the Renters (Reform) Bill?

31st January 2024

Will a Labour Government mean tough times ahead for buy-to-let landlords and buy-to-let property investors?  And what amendments will Labour make to the Renters Reform Bill going through Parliament? Join Ranjan Bhattacharya as he discusses all this and more in the video below 

Labour vows to extend Awaab’s Law to the PRS

31st January 2024

Labour’s Angela Rayner says the party will extend Awaab’s Law to landlords in the private rented sector (PRS). She told Good Morning Britain viewers – see the video below – this will protect 1.6 million children who live in cold, damp or mouldy homes owned by private landlords, according to data from Citizen’s Advice. Awaab’s […]

Capital gains tax – Sneaky rules?

31st January 2024

WARNING For those who aren’t aware:  Taxpayers have 60 days from the date of completion of the disposal (not the date of exchange of contracts) to report the property disposal and pay the estimated CGT to HMRC. Late filing penalties may be charged, together with interest on any unpaid tax. We sold 2 out of […]

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UK house prices bounce back as mortgage rates fall

31st January 2024

The UK housing market showed signs of recovery in January, as the annual rate of house price growth improved from -1.8% in December to -0.2% in January, the strongest performance since January 2023. According to the Nationwide house price index, prices increased by 0.7% in January, after adjusting for seasonal factors. This is the second […]

Business leader discussing UK property market outlook amid Budget uncertainty

BTL mortgage products surge while first-time buyers struggle

31st January 2024

There’s a growing disparity between the mortgage options for landlords and first-time buyers in the UK with the number of buy to let mortgage products rising by 8.8% in the last quarter. But the number of products for first-time buyers dropped by 3.4%. That’s according to research from Octane Capital which analysed the current availability […]

Property expert outdoors discussing rising UK rent prices

Young renters priced out by deposit and rent costs

31st January 2024

The harsh reality of renting in the UK for young people has been revealed by a report which highlights that just 7% of the rental market is affordable for under-30s. The research from Zero Deposit is based on the combined cost of a five-week deposit and the first month’s rent. The firm also looked at […]

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“Three strikes and you’re out” rules to crackdown on anti-social tenants in social housing

31st January 2024

Tenants engaging in anti-social behaviour could face being disqualified from social housing. The proposals by the government in a bid to shake up the social housing sector could see a “three strikes and you’re out” policy implemented to tackle anti-social behaviour. Those who engage repeatedly in anti-social behaviour could face being disqualified from social housing […]

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Facing rent freeze dilemma?

31st January 2024

Hello, some background the property is based in the London/South East region. Tenants were struggling historically and large arrears built up during covid. Eventually, the tenants recovered and have been paying rent on time during the past year but made minimal (as in near zero) effort to deal with the arrears until the issue was […]

Propertymark policy head highlights concerns over the Renters’ Rights Bill’s impact on landlords and tenants

Rents fluctuate amidst supply shortages in PRS

31st January 2024

Tenant demand is still continuing to outstrip supply with letting agents seeing a reduction in stock levels. The latest figures from Propertymark’s Housing Insight report reveal a 16% fall in the number of new tenancies signed in December. According to the report, rents continue to “ebb and flow” with some agents reporting a rent increase. […]

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NRLA partners with Title Guardian to safeguard landlords against property fraud

31st January 2024

The NRLA have teamed up with a property fraud service to help protect landlords from tenant subletting. Title Guardian monitors Land Registry title documents and other digital sources and is designed to meet the rising threat of property fraud for landlords. According to Direct Line Business Insurance, nearly half of tenants (48%) who sublet do […]

Celeb doctor suffers eviction nightmare and warns: ‘Don’t be a landlord’

30th January 2024

A BBC presenter and GP has revealed how a ‘friend’ of 25 years turned into a nightmare tenant who trashed her flat and refused to pay rent or leave. Dr Renee Hoenderkamp, known to many as Dr Renee, regularly appears on BBC Radio London and Inside Out, rented out her one-bed flat in Hendon, northwest […]

Opportunities for UK property investors in 2024

30th January 2024

Join us for a live talk from The Baker Street Property Meet with renowned property expert, Andrew Roberts, as he shares invaluable insights into the dynamic landscape of the UK property market in 2024. From emerging trends to unique investment opportunities, Andrew will guide you through your window of opportunity for success in the ever-evolving […]

Scotland PRS landlords agents tenants property118.com

Scotland – Tenant bringing up notice after I failed to sell?

30th January 2024

Hi, I served notice to my tenant last year and she gave me 28 days notice and vacated. I wanted to sell the property and tried to sell it. But since then, in last 6 months I didn’t get any offers. So I’m putting the property back on the market for rent. The rent increase since […]