Landlord Insurance Headlines
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31
Mar
2010
Changes in the charging of stamp duty, which were announced by the chancellor in last week's Budget, could have been simpler, it has been claimed.Alistair Darling announced that the threshold at which the duty is applied has doubled from £125,000 to £250,000.
Continue reading "CML - Stamp duty changes could have been simpler"...
The Conservative Party has called on the government to have a "rethink" on its housing proposals.According to the National Landlords Association (NLA), party leader David Cameron recently called for the Town and Country Planning Order to be revoked.
Continue reading "Tories call for housing rethink"...
Rental rates in the UK are set to "remain firm" and could even see steady growth this year, according to one industry organisation.Tom Entwistle, director at online community LandlordZONE.co.uk, said recent rises in rent prices can be attributed in part to a fall in the number of "reluctant" landlords operating in the market.
Continue reading "Rents to remain firm, says expert"...
30
Residential landlords and consumers in the UK have been urged by one industry body to only use lettings agents that belong to a professional body.The Association of Residential Letting Agents (ARLA) has said that until there is a government-backed scheme controlling the sector, this remains the safest way for them to receive the best advice.
Continue reading "ARLA calls for government control"...
The current Local Housing Allowance (LHA) system has left landlords being owed an average of £4,400 in unpaid rent, according to one industry body.Data released by the National Landlords Association (NLA) has revealed that LHA has generated national rent arrears of around £220 million since the current system was introduced.
Continue reading "LHA system needs reform, says NLA"...
Residential landlords in the UK could be among those to be encouraged by an upturn in UK house prices over the last month.New figures released by Nationwide have revealed that February's house price decline has almost been reversed by a 0.7 per cent increase.
Continue reading "House prices improve in March"...
29
A lack of supply of rental stock is the biggest issue facing the UK private rented sector (PRS).This is the view of the Association of Residential Letting Agents (ARLA), which said the country is in "dire need of good quality rental accommodation".
Continue reading "UK in 'dire need' of rental accommodation, says ARLA"...
The UK is experiencing a north-south divide in terms of property prices, new figures have shown.Data taken from the latest Land Registry report has revealed that despite a fall last month, UK house prices are currently seven per cent higher than this time last year.
Continue reading "Rics - House price data reveals north-south divide"...
26
The way Alistair Darling has "tinkered" with stamp duty land tax could have an impact on the wider economy, it has been claimed.Earlier this week, the chancellor announced that the threshold for first-time buyers will increase from £125,000 to £250,000, meaning 90 per cent of first-time buyers will not need to pay the tax.
Continue reading "Lovemoney.com - Stamp duty tinkering could affect wider economy"...
The increased stamp duty threshold announced in this week's Budget is good news for the housing market as a whole.This is the view of first-time buyer advice specialist FirstRungNow.com, which said increasing the threshold to £250,000 was a "strong" move by the government.
Continue reading "Stamp duty move is good for whole property market, expert claims"...
A new ruling regarding houses in multiple occupancy (HMO) is the realisation of landlords' "worst fears", it has been claimed.As of April this year landlords will need to apply for planning permission if they wish to change the use of a property from a family home to an HMO with three or more unrelated tenants.
Continue reading "New HMO ruling is a bad measure, says RLA"...
25
The government has "missed an opportunity" to increase activity in the housing market by limiting its increased stamp duty threshold to first-time buyers.This is the view of the Association of Mortgage Intermediaries (AMI), which said the tax is still "sorely in need of proper reform".
Continue reading "AMI- Stamp duty rise is too restrictive"...
The government has failed the private rented sector (PRS) with its latest Budget, it has been claimed.According to the Association of Residential Letting Agents (ARLA), the government has failed to deliver on a number of positive recommendations made last month.
Continue reading "ARLA - Budget has failed the PRS"...
24
Residential landlords who offer properties on an all-bills-included basis could be among those who are struggling to meet the demands of energy prices.A new report, published by price comparison service moneysupermarket.com, has revealed that more than three-quarters of Britons "struggle" to pay their utility bills.
Continue reading "Energy price reductions 'don't cut it'"...
The British Property Federation (BPF) has joined calls for a reduction in the rate of VAT charged on home improvements.Ahead of this afternoon's (March 24th) Budget, the organisation has backed the Cut the VAT Coalition, in its call for the rate to be reduced from 17.5 per cent to just five per cent.
Continue reading "BPF joins coalition calling for a cut in VAT"...
23
Tomorrow's (March 24th) Budget should be focused on changing the tax system to make investment into private rented accommodation more attractive.This is the view of the National Landlords Association (NLA), which has published a wish list ahead of Alistair Darling's announcement.
Continue reading "NLA calls for landlords support"...
The general election must not be allowed to detract from the growth of the private rented sector (PRS).This is the view of the Association of Residential Letting Agents (ARLA), which said "prohibitive barriers to investment" such as stamp duty need to be reviewed.
Continue reading "Election must not hold back private rented sector, says ARLA"...
Home insurance customers are being urged to shop around in order to get a better deal.Price comparison service moneysupermarket.com has claimed that "loyalty doesn't pay" when it comes to home insurance products.
Continue reading "Home insurance customers urged to shop around"...
22
Residential landlords could be among those to heed a warning about the potential issues with employing "rogue workmen".According to financial firm Santander, 37 per cent of people are left having to pay to repair botched jobs.
Continue reading "Rogue workmen cost Britons £6.8bn, bank says "...
Mortgage arrears are reducing as a result of various government schemes, it has been claimed.Paul Holmes, chief executive of housing finance specialist Firstrung, said lenders have taken up schemes which consolidate arrears into a new agreement, which in turn has lowered the number of households facing difficulties.
Continue reading "Firstrung - Government schemes helping to reduce arrears"...
Proposals to introduce a cap on loan-to-value (LTV) ratios are inappropriate, according to one industry body.The Financial Services Authority (FSA) recently called for the introduction of such measures.In a speech at the CASS Business School in London, the FSA's chairman Lord Adair Turner, said setting a maximum limit on LTV ratios would help prevent a boom-and-bust cycle in the housing market.
Continue reading "CML - FSA proposals are inappropriate"...
19
Existing residential landlords and those looking to enter the market are set to benefit from a range of new buy-to-let deals.Lender Godiva Mortgages has announced the launch of its new range, which includes a three-year fixed rate deal at 5.35 per cent and 60 per cent loan-to-value (LTV).
Continue reading "Lender announces new buy-to-let deals"...
House hunters, including residential landlords looking for new rental properties, have not been put off by bad weather, according to one industry body.A recently-published report from the National Association of Estate Agents (NAEA) revealed that while the number of people registering with agents decreased between January and February, the number of people purchasing property increased.
Continue reading "NAEA - House hunters not put off by weather"...
Lloyds bank's recently-announced mortgage overpayment deal has been welcomed by one group of independent advisors.Earlier this month, the bank announced that all of its variable rate mortgage customers will be able to overpay by up to 20 per cent without facing financial penalties.
Continue reading "Lloyds mortgage overpayment deal welcomed"...
18
Residential landlords who are considering increasing the size of their portfolios could be among those to be encouraged by new mortgage lending figures.According to the latest report from the Council for Mortgage Lenders (CML), lending in February increased by six per cent on the previous month.
Continue reading "CML figures show increase in mortgage lending"...
The fact that energy suppliers are not doing more to make customers aware of their best deals is "scandalous".This is the view of consumer advice service Confused.com, which urged energy customers to shop around to get the best deals.
Continue reading "Energy customers urged to shop around"...
17
Residential landlords with financial difficulties could be among those to benefit from a new Mortgage Market Manifesto, which has been published by the Council for Mortgage Lenders (CML).The document calls on the next government to provide a higher standard of support for mortgage customers with financial issues.
Continue reading "CML calls for better financial support"...
Residential landlords who are looking to add to their property portfolios could be among those who are hesitant to enter the market.According to a recent report from the Building Societies Association (BSA), just 49 per cent of potential buyers feel that now is a good time to purchase a home.
Continue reading "Confidence dips among potential property purchasers"...
Long-term investors in the buy-to-let sector have "never had it better", according to one industry body.Mark Garner, managing director at LettingZone, said low interest rates mean those who invested in property some time ago are now benefiting from a "really good" cash flow.
Continue reading "Long-term landlords have never had it better, says expert"...
16
Residential landlords in the UK could be among those affected by a high number of "unsatisfactory" home information packs (HIPs), it has been suggested.A recent study by Birmingham City Council Trading Standards and the Property Codes Compliance Board revealed that 30 per cent of HIPs in the area were not up to regulation standards.
Continue reading "Research uncovers 'unsatisfactory' HIPs"...
Average rents increased by 0.3 per cent last month, according to a new report.Recently-released figures from LSL Property Services also revealed that buy-to-let landlords have seen rents increase by 3.2 per cent over the past 12 months.
Continue reading "Landlords benefitting from rental rise"...
15
Residential landlords offering properties on an all-bills-included basis could be among those to notice energy debts getting worse.National Energy Action (NEA), an organisation that campaigns against fuel poverty, has claimed that that the situation is going to get worse before it improves.
Continue reading "Energy debt set to get worse"...
Government plans to retrospectively increase the threshold for assured short-hold tenancy (AST) agreements are "highly regrettable".This is the view of the National Landlords Association (NLA), which said the retrospective nature of the increase could have "a wide-ranging impact on the letting of private residential property".
Continue reading "NLA - Retrospective AST threshold increase is highly regrettable"...
Residential landlords who have family-sized homes in their portfolio could be among those noticing a rise in demand for their properties, it has been suggested.Estate agent has claimed the higher end of the property market is currently outperforming the lower end.
Continue reading "Higher end of property market is performing well"...
12
Residential landlords in areas of the UK that are affected by flooding could be among those to benefit from a new wave of protection funding from the government.Environment minister Huw Irranca-Davies announced the £2.6 million grant, which will be shared by 34 schemes and protect 534 households with new solutions such as storm porches, door guards and flood boards.
Continue reading "Government releases second round of flood protection funds"...
Insurance companies have paid out large amounts to customers as a result of the severe weather conditions over the past few months.Recently-published figures from the Association of British Insurers (ABI) have revealed that insurance firms paid out £650 million during what was the coldest UK winter for 30 years.
Continue reading "Insurers pay out during big freeze"...
Mortgage customers are facing "tough choices" as the market reaches a "fork in the road".This is the view of consumer advice service moneysupermarket.com, which said new low rate variable deals could be risky.The comments follow the release of new "discount" deals from HSBC and Santander.
Continue reading "Borrowers face 'tough choice' over mortgages"...
11
Residential landlords could be among those to benefit from increased competition among mortgage lenders, it has been suggested.Mortgage Broker Alexander Hall has claimed lower rates can be attributed to growing confidence among lenders.
Continue reading "Competition driving down mortgage rates"...
Residential landlords who are looking to add to their property portfolios could be among those benefitting from high levels of affordability, it has been suggested.Figures from a recent report by Zoopla.co.uk have revealed that housing affordability in the UK is at its highest rate for seven years.
Continue reading "Property affordability at seven-year high"...
10
Individuals with landlords insurance need to be prepared for possible future legislation requiring all residential landlords to become part of a national register.Writing to the Liverpool Post, Action Group general secretary Richard Globe stated that, should they win the general election in May, Labour is likely to implement its plans for a national landlords register in addition to strengthened regulations for residential letting agencies.
Continue reading "Letting industry needs 'complete overhaul'"...
The buy to let property insurance market may begin to pick up following a difficult 18-month period.This is the suggestion of the Residential Landlords Association (RLA), which reports that lenders could soon lower both interest rates and required deposit amounts.
Continue reading "Buy to let market beginning to improve, RLA says"...
9
Residential landlords who are considering adding to their portfolios could be among those to be encouraged by renewed confidence in the mortgage market.Ben Wilkie, editor of industry publication What Mortgage, said increased confidence in the housing market has led to greater flexibility among lenders.
Continue reading "Increased confidence in the housing market"...
This year is going to be a good one for residential landlords in the UK, it has been suggested.Iammoving.com, the UK's only free online change of address service, said that landlords can expect a buoyant rental market over the next 12 months.
Continue reading "2010 to be 'a good year' for landlords"...
Residential landlords in the UK could be losing money as a result of unclear contracts and scams by management companies, it has been suggested.Agent Base Lettings and Management said landlords in Lincoln are losing £200,000 due to "sneaky rental contracts".
Continue reading "Landlords losing out to 'unethical practices'"...
8
Residential landlords could be among the homeowners in the UK that will need to retrofit energy-efficient systems if the country's CO2 reduction targets are to be met.This is the view of whatgreenhome.com, which said retrofitting will be important if the UK is to reduce carbon emissions by 80 per cent over the next 40 years.
Continue reading "Retrofitting 'critical' in bid to meet CO2 targets"...
The benefits of taking up the offer of a government loan for energy-saving home improvements could be negligible, it has been claimed.Consumer advice service Confused.com said the benefits from the scheme will depend on how energy-efficient a person's house already is.
Continue reading "Savings will depend on existing efficiency, expert claims"...
House prices in the UK have fallen for the first time in seven months, a new report has revealed.According to the latest House Price Index from the Halifax building society the average property price fell by 1.5 per cent in February.The figure represents the first decrease in the index since June last year.
Continue reading "Report reveals decrease in house prices"...
5
Funding for mortgages is to remain restricted over the next few months, it has been suggested.The Association of Mortgage Intermediaries (AMI) has warned that limited funds will be available to landlords and potential house buyers until after the general election.
Continue reading "AMI - Funding for mortgages to remain restricted"...
Residential landlords in the UK could be among those to be interested in recent price cuts announced by a household energy supplier.Landlords who offer properties on an all-bills-included basis could save four per cent on their dual energy bills with the new tariff being offered by Scottish and Southern Energy.
Continue reading "Energy supplier announces price cuts"...
A number of mortgage customers in the UK are completely unaware of the interest rates on their loans, new research has shown.Figure recently published by the Post Office have revealed that at least three million British borrowers do not know the rate they are currently paying.
Continue reading "Borrowers in the dark about mortgage rates"...
4
Residential landlords with buy-to-let mortgages could be among those to continue to benefit from lower interest rates for the rest of the year, it has been claimed.Economic research consultancy Capital Economics has claimed that the Bank of England's Monetary Policy Committee is unlikely to increase its base rate during the rest of 2010.
Continue reading "Interest rate is 'likely to be maintained'"...
Banks must continue to lend money if the fall in mortgages is to be alleviated, it has been claimed.Independent advice service MyMortgageDirect has said that pressure on banks to approve loans could negate the drop in mortgages brought about by the end of the stamp duty holiday and the adverse winter weather in the UK.
Continue reading "Banks must lend to tackle mortgage fall, expert claims"...
The National Landlords Association (NLA) has come out in support of the government's plans to encourage homeowners to make energy-efficient improvements to their homes.According to the organisation, the new "green loans" schemes should "greatly" benefit both residential landlords and tenants in the private rented sector.
Continue reading "NLA backs government 'green loans'"...
3
The UK's private rented sector is set to grow in the future, a new report has suggested.The latest News and Views report from the Council of Mortgage Lenders (CML) has claimed that home ownership is likely to account for a smaller section of the housing market, with the majority of potential house buyers moving onto the private rented sector instead.
Continue reading "Is the private rented sector set to grow?"...
British residential landlords could be among those to benefit from the government's new Pay As You Save energy scheme, it has been suggested.According to the government, the green projects will see around seven million UK homes upgraded with energy-efficient devices over the next ten years.
Continue reading "Government green strategy to benefit seven million homes"...
Residential landlords that offer properties on an all-bills-included basis could be among those to be shocked about new information on gas prices.A recent report from price comparison service moneysupermarket.com has revealed that the price of household gas is currently at a ten-year high.
Continue reading "Gas prices at ten-year high"...
2
The recent upward trend, which has seen property prices rise in the UK, is set to slow, it has been claimed.Paul Holmes, chief executive of property specialist Firstrung, has estimated that prices are set to decline by up to 15 per cent over the next 14 to 18 months.
Continue reading "House price rises are set to slow"...
Residential landlords in the UK could be among those to be interested in new information regarding Britain's "cheapest energy supplier".Price comparison service uSwitch.com has revealed that the current cheapest supplier is not one of the so called "big six".
Continue reading "Britain's cheapest energy supplier unveiled"...