It’s not the money the government prints that triggers a resurgence in the economy, but the way everyone spends the cash, argues credit strategist Ben Bennett.
The point of no return for the economy was when property investment stopped improving living standards and became pointless spending on renovations and idle speculation, he argues. Continue reading Pointless property spending ruined the UK economy
Principality has revised one of its two buy to let products upwards.
The new rate at 4.99% has a low fixed product fee of £999 and includes a free valuation and remortgage service, reducing upfront costs for larger loan amounts up to a maximum of 70% Loan to Value. Continue reading Principality 70% LTV buy to let rate revised
The Bank of England has released its Agents’ summary of business conditions April 2012, and they believe the housing market to be experiencing mixed fortunes.
Buy to let demand has grown due to growth increases, this has “helped to put a floor under prices.” Asking prices have supposedly been more realistic and new-build has seen more demand, both helping buyers. Continue reading Agents’ summary of business conditions April 2012
The first issue of UK house price data from the Office of National Statistics signals the start of a shift towards an official national house price index.
The average house price in the UK for February was £224,473 – down on January’s average of £228,064 but up from £211,960 a year earlier. Continue reading Official UK house price data published for first time
Buy to let mortgage brokers are celebrating a buoyant first quarter of business as landlord demand for loans increased.
Almost 80% of mortgage brokers expect buy to let to continue growing for the rest of the year, according to the findings of a buy to let broker sentiment survey by Paragon Mortgages. Continue reading Confidence is high for buy to let landlords and brokers
Accounting for spending on letting property before the first tenant moves in often confuses landlords – and their accountants.
Countless landlords miss out on potential tax savings because their financial advisers wrongly claim pre-letting expenses are not allowed by HM Revenue & Customs. Continue reading Pay less tax by claiming pre-letting costs
Buy to let really did boom in 2011 – with the total up 12% on the previous year as 692,766 homes were rented out.
As buy to let rampaged to a new high, home sales dropped back by 12,000 in the year to 769,077.
The trend was for buy to let to increase each quarter through the year – with the third quarter showing the biggest rise of 14.46%. Continue reading Buy to let did boom in 2011 – it’s official!
It’s green for go for new-style energy performance certificates from April 6 and landlords or letting agents who flout the new rules could face a fine.
Energy performance certificate (EPC) laws are tightening and letting agents face more scrutiny from trading standards officers. Continue reading Green for go on new EPC laws for buy to lets
LetAlliance is rolling out its specialist services to the 200 letting agents across Northern Ireland for the first time as they continue their expansion.
With Michael Mccready- formerly of Homelet- at the helm of LetAlliance’s business development in Northern Ireland, Derry / Londonderry, Co Tyrone, Co Antrim, Co Armagh, Co Fermanagh, and Co Down will be covered. Continue reading LetAlliance expand to Northern Ireland
With rents still continuing to rise, insurance provider LetRisks is urging to buy to let landlords to ensure they are in a position to cope with rising arrears and evictions.
All figures relating to arrears and evictions appear to be the rise. The number of tenants with two months or more arrears increased by 11,400 in the space of a year according to the latest Tenant Arrears Tracker by Templeton LPA and evictions in the last quarter of 2011 went up 11% compared to the last year too. Continue reading Landlords warned to be insured against arrears