Page 244 – Property118

Winners of the Property Investors Awards revealed

12th December 2023

In a dazzling evening of recognition and celebration, the Property Investors Awards announced the winners for 2023. In its biggest event ever, the awards, organised by the Property Investors Bureau, were attended by industry leaders from across the property investment world at the Intercontinental Park Lane Hotel. Nominees, finalists, sponsors and judges are honoured, with […]

What Do Buyers Look For In An Investment Property?

12th December 2023

What top 10 features do buyers look for in BTL investment property? Join Ranjan Bhattacharya and Andrew Roberts and fine tune your property investing game by learning the key features to look out for when investing in a property. Watch the video below  

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Smaller landlords look to sell up and exit the PRS

12th December 2023

Major structural changes are taking place in the UK’s private rented sector (PRS) with smaller landlords more likely to exit the market than those with larger portfolios. According to The Deposit Protection Service (The DPS), 24.5% of landlords with one or two properties plan to sell up and leave the PRS, compared with 12.2% of […]

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UK rent growth slows after hitting price peak

12th December 2023

The UK’s rent price growth is cooling down after reaching its highest point in three years with one prediction that rises will drop from 9.7% to 5% in 2024 – the lowest since September 2021. The prediction comes from Zoopla, and it attributes the slowdown to a combination of factors, including a decline in demand […]

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Green heating plans could drive landlords out of Scotland

12th December 2023

Scotland’s ambitious plans to phase out gas boilers and switch to green heating systems could see many landlords being forced to leave the country’s private rented sector or pass on the costs to tenants, one critic warns. The Scottish government is consulting on its Heat in Buildings Strategy, which aims for 22% of energy being […]

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Change to stop rentals in flat development?

12th December 2023

Hello, I have owned 3 flats in a block of flats for 20 years, which I rent out, and the service management company have just changed hands and decided unilaterally to not allow rentals there because of “antisocial behaviour”. I had just agreed to sell one of these to an investor and the management charged […]

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Landbay reduces its five-year fixed BTL mortgage rates

12th December 2023

Landlords looking for a five-year fixed rate mortgage can benefit from lower rates offered by Landbay. The specialist buy to let lender has reduced the rates on its standard five-year fixed product range by up to six basis points (0.06%), making them more affordable for landlords. The product range, which is stressed at pay rate, […]

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Generation Rent slams government for scrapping EPC targets

12th December 2023

A tenant activist group is raging at the shelving of EPC targets calling the move “appalling”. Generation Rent told the London Assembly that scrapping EPC rules for landlords “is a terrible move from the government” and they would like to see a reversal of the targets as soon as possible. The legislation would have required […]

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The Benefits of Limited Liability Ownership Structure for UK Landlords

11th December 2023

For landlords in the United Kingdom, choosing the right ownership structure for their property investments is a critical decision. Among the various options available, one that stands out for its advantages is the Limited Liability Ownership Structure. This structure offers several benefits that can help landlords protect their assets, reduce personal financial risk, and streamline […]

Open A Business Bank Account In Minutes

11th December 2023

For landlords who need to open a business account FAST we recommend Tide. In just just a matter of minutes you can open a business bank account online and obtain an account number, sort code and a free business Mastercard (applicable to Limited Companies as well as sole or joint owners of property). Tide is […]

blame, selective licensing

Are selective licensing schemes to blame for soaring rents?

11th December 2023

For anyone wondering what the impact of selective licensing schemes is on tenants and rent prices, then one landlord has news for you. He claims that the selective licensing scheme introduced in Nottingham in 2018 is to blame for massive rent increases in the city. And his opinion is backed up by new figures from […]

The average buy-to-let mortgage rates for some typical two-year fixed rate deals favoured by landlords have doubled since the start of the year, it has been revealed. According to Property Master's Mortgage Tracker, the average rate for a typical £160,000 BTL mortgage fixed for two years for a Loan to Value (LTV) of 60% had more than doubled since the start of this year – from 1.69% in January to 3.43% in August. This took the monthly cost, including fees, from £262 to £494, an increase of £232. The online buy-to-let mortgage broker also found that the same mortgage fixed for five years had also increased dramatically from 1.94% in January to 3.5% in August - an increase in monthly costs, including fees, from £273 in January to £481 in August, up £208. 'Cost of buy-to-let mortgages continues to rise inexorably' Angus Stewart, Property Master's chief executive, said: "The cost of buy-to-let mortgages continues to rise inexorably. "Obviously, much of this reflects the Bank of England's decision to hike interest rates for the sixth time earlier this month but there are other factors at play too. "We are seeing reduced competition in the buy-to-let mortgage market caused by a combination of factors with some lenders using higher rates to manage customer demand, whilst others are taking the opportunity to widen their margins." He added: "We have said for some years that increased regulation and higher costs were leading to the professionalisation of the private rented sector. "In reality, this will mean fewer but larger landlords. 'Unaffordable rises in mortgage costs' "For many of the smaller players in this market, unaffordable rises in mortgage costs will undoubtedly lead them to conclude buy-to-let no longer works for them. "Indeed, the latest figures from HMRC show a dramatic increase in takings from Capital Gains Tax suggesting many landlords are deciding this is the moment to sell-up." The Property Master Buy-to-let Mortgage Tracker follows 30 lenders who constitute around 75% of total BTL mortgage lending.

The same BTL mortgage deal that is worse for existing customers?

11th December 2023

Hi, The mortgage lenders have got creative with BTL deals of late. Higher fees for lower rates, but this bit of creativity is a bit well, err, bonkers! So, here is the deal for new customers: 2 Year Tracker, 3% Product Fee, 5.49% Interest Rate, 75% LTV And for existing customers on a product transfer: […]

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Section 21 advice needed – buyer waiting?

11th December 2023

Hello, Our tenant of 8 years has a periodic tenancy. We gave written notice in May 2023 and put the house up for sale as the rent isn’t even covering the interest on our mortgage. At the end of the two months notice period he couldn’t find or afford a new rental property and was […]

Dan Wilson Craw, the deputy chief executive of Generation Rent

Renters face affordability crisis despite LHA boost

11th December 2023

Low-income renters in England will struggle to afford their homes even after the government’s recent benefit boost, a campaign group has warned. Generation Rent said that the increase in Local Housing Allowance (LHA) announced by Jeremy Hunt in the Autumn Statement would be outpaced by rent inflation within 18 months. That would leave many low-income […]

Sellers lower prices as housing market cools down

11th December 2023

The UK housing market saw a bigger than usual drop in new seller asking prices this month, as sellers became competitive in a more stable and less frenzied market. According to Rightmove, the average asking price for a newly listed property fell by 1.9% (-£6,966) to £355,177. This was larger than the 20-year average of […]

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Brits paid out £85.6bn in rent during 2023

11th December 2023

Renters in Great Britain will pay a staggering £85.6bn in rent this year – that’s more than double the amount paid in 2010 and £8bn more than last year. The report from Hamptons also shows that rents on new tenancies increased by 10.2% year-on-year in November, the highest annual growth rate since it began keeping […]

How to find cheaper landlord insurance

9th December 2023

Whether you are a first-time landlord, or you’ve been building your property portfolio for decades, the difficulty in finding landlord insurance is always tough. With many insurance implications from flooding to cannabis farms, it can be hard to find the right landlord insurance. Here at Property118, we have teamed up with The Home Insurer which […]

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Tenant bidding wars – Why are landlords being blamed?

8th December 2023

Are you sitting comfortably? I’m about to be critical of politicians, the media and tenants. Because it has been another week and another negative story about landlords. This time it is the Labour Party saying it will end tenant bidding wars and will copy a law in New Zealand that does just that. Eh? Landlords […]

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Struggling To Get a Mortgage – Maybe We Can Help

8th December 2023

The mortgage market has been through a tough time in recent months, following 14 months of consecutive base rate increases. Mortgage interest rates increased, buyers who were used to very low rates, were hesitant to move and sellers were reluctant to sell because of the anticipated price crash. However, times have changed. There have been […]

Verona Frankish, Yopa chief executive, smiling during a professional portrait.

137 properties a day have the asking price slashed

8th December 2023

Property investors will be interested in the latest research that reveals home sellers are cutting their asking prices at a rate of 137 properties a day in England, as they try to attract buyers in a cooler market. The survey from national estate agency Yopa is based on data from Zoopla and of the homes […]

Help to protect landlords from tenant sub-letting and property fraud unveiled

8th December 2023

Landlords and property owners can now protect themselves from tenant sub-letting and property fraud with a new service called Title Guardian. The service monitors various sources, such as sales and letting portals and government databases, where property owners’ details appear and where fraudulent activities begin. If the firm detects any suspicious activity on a property, […]