The average asking price of newly marketed properties in the UK has fallen by 1.7% (-£6,088) this month, according to the latest Rightmove house price index. The report suggests that sellers are adopting more realistic pricing strategies to attract buyers as the market transitions from the pandemic-induced frenzy to more normal activity levels. Despite the […]

Buy to let landlords have cut down their mortgage debt by almost 20% in a year of economic turmoil, according to a new report. Octane Capital has compared the total amount of borrowing among BTL landlords between Q3 2022 and Q2 2023 and the same period the year before. It found that landlords reduced their […]

The courts are taking more than half a year to process possession claims, according to new research. New data released by the Ministry of Justice (MOJ), reveals it takes an average of almost 29 weeks between a private landlord making a legitimate possession claim to the courts and actually getting the property back. The figures […]

Landlords in Great Britain are holding on to their properties as rents soar to new heights, according to the latest Hamptons lettings index. The index, which tracks the activity and trends of the private rented sector, shows that the share of homes sold by a landlord fell from 15.7% in 2022 to 14% so far […]

Hello, Can Property118 readers please help. The rules seem to have changed for what date to put for a S21 expiry date. The tenancy is a rolling contractual periodic tenancy which originally started in 2021. Do I have to give the 2 months’ notice to the end of the monthly rental period date or can […]

Section 21 court proceedings have reached a record record-breaking seven-year high, according to new research. In figures released by the Ministry of Justice, between July and September this year, 8,399 landlords in England started Section 21 no-fault eviction court proceedings against their tenants – the highest number for seven years. The latest figures also show […]

Hi, I rented a garage space in a block from a neighbour, we drew up an agreement from the internet, no problem. I erected a sectional garage on the space to store a car, I have receipts. Unfortunately, the neighbour has sold up. The new owner now wants the space back and the garage even […]

Hello all, we had an email from someone advising us that the husband of one of our tenants had died he provided a copy of the death certificate. He told us that he would be paying the rent. We responded by stating that we could only receive payment from a lawful tenant named on the […]

The government has been urged to commit to a timetable for banning section 21 ‘no-fault’ evictions and reforming the court system by the Levelling Up, Housing and Communities (LUHC) Committee. Section 21 allows landlords to evict tenants without giving a reason and the government promised to abolish it in the Renters (Reform) Bill, which was […]

The number of BTL landlords who are behind on their mortgage payments has rocketed by 29% in the last quarter, UK Finance says. The trade body for lenders said that there were 11,540 buy to let mortgages in arrears in the third quarter of 2023. The current arrears figure represents 0.57% of all outstanding BTL […]

The government has announced plans to slash ground rents and save homeowners thousands of pounds. Housing Secretary Michael Gove has launched a consultation that aims to cap ground rents at a so-called “peppercorn” rate for existing leaseholders, freezing ground rents at current levels and capping the ground rents at a percentage of the property value. […]

Latest housing & property market update for November 2023, including housing market predictions for 2024. This is a live presentation by renowned property expert, Andrew Roberts. It was delivered to an audience of over 300 property investors at the Baker Street Property Meet. The Baker Street Property Meet is the UK’s largest and No.1 Property […]

After a slew of bad news, this week’s headlines come as a welcome relief for landlords looking to sell. The Telegraph reported that despite higher rates and regulatory risks around rentals, a wave of new investors had entered the market, stepping in to take portfolios off landlords’ hands. These investors are cash rich, looking to […]

Theresa Villiers MP has spoken in favour of the Renters (Reform) Bill and warned the government needs to address the court delays before abolishing Section 21 – ‘no-fault’ evictions. Ms Villiers was speaking during the debate following the King’s Speech to Parliament and said that she supports the Bill. However, she also stressed the importance […]

People from ethnic backgrounds are more likely to be ignored when looking for accommodation in the private rented sector, new research claims.  A new study by Generation Rent reveals white people are 36% more likely to receive a positive response when applying to rent on SpareRoom than black people. The organisation created two fake profiles […]

Landbay has announced a second round of rate reductions in just over a week, taking advantage of the falling swap rates in the money markets. The specialist buy to let lender has cut its rates by up to 0.30% across its two and five-year fixed rate products, offering some of the lowest rates in the […]

Hi, the situation: Landlord has rented out their 4-bed house to 4 tenants for a number of years, but now needs to sell the property. S21s were issued, and all the tenants left. One ex-tenant has now threatened to sue the LL due to a recent change in the local authority’s occupant number that constitutes […]

Up to 60,000 Londoners who rent privately are at risk of becoming homeless in the next six years unless the government increases the housing benefit they receive, a new report warns. The report, commissioned by London Councils, a cross-party group representing the 32 boroughs and the City of London, estimates that between 16,500 and 22,000 […]

Hello, I’ll keep this short as those that know and those that don’t can find better explanations than I can give. Last year’s rent rise for my tenants was 10% based solely on the effect of S24, the same will happen this year for the same reason. What is being done by the industry to […]

Fleet Mortgages has lowered its rates on all five-year fixed products for standard and limited company borrowers. The rate cuts, effective from 8 November, are 20 basis points (bps) across the board. The products affected by the rate reductions are: Standard/limited company borrowers – five-year fixed-rate at 70% LTV now at 5.14% and 75% LTV […]

Hello, I have been approached by a wife and husband couple who are both skilled workers from abroad (care/nursing), they have been granted leave to enter (restricted work) but who have National Insurance numbers but no recourse to public funds, looking to rent my property. The visa expires Dec 2024. It looks like they have […]