Landlord Insurance Headlines
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30
Apr
2010
Residential landlords that are looking to improve their properties or embark on new developments could be among those to be encouraged by recent comments on planning.Specialist property provider GL Hearn said the UK's planning system is too complex and is in need of relaxation.
Continue reading "Planning system is too prohibitive, says expert"...
UK landlords could continue to benefit from potential first-time buyers remaining in the rental market after one expert said the impact of the new stamp duty holiday has been "overestimated".Paul Holmes, chief executive officer of Firstrung, an advice service for first-time buyers, said the overall effect of the government's actions hasn't provided the impact on the market that people "would like to believe".
Continue reading "Stamp duty impact overestimated, says expert"...
Residential landlords in the UK have been discouraged from adopting a hands-off approach in order to achieve success.James Davis, chief executive officer at upad.co.uk, said taking a back seat is not the best approach to take if landlords want to keep hold of tenants.
Continue reading "Landlords discouraged from hands-off approach"...
29
Residential landlords operating in the UK could be among those to be encouraged by new house price figures.A recently-published Nationwide report revealed that the current average price of a UK home stands at £167,802 after a monthly increase of one per cent.
Continue reading "House prices see double-digit growth"...
Residential landlords in the UK are dipping in to their personal savings to make mortgage payments as void incidents remain high, according to new research.A recently-published report from the National Landlords Association (NLA) has revealed that while landlords with large portfolios can cover cost with rents from other properties, 43 per cent are using personal savings to "plug the shortfall".
Continue reading "Landlords using savings to cover void costs"...
28
Residential landlords in the UK could be benefitting from prolonged tenancies with potential first-time buyers.A recently-published report from mortgage specialist John Charcol has revealed that first-time buyer mortgages accounted for just seven per cent of loans in March.
Continue reading "Variable rates dominating mortgage market, says John Charcol"...
Homeowners who are considering becoming landlords for the first time have been advised that the private rented sector is a "very complex area".Tom Entwistle, director of online community LandlordZONE.co.uk, said leasehold regulations and other factors mean it can be difficult for people to understand their full legal obligations.
Continue reading "Property rental is a complex area, says expert"...
The UK's buy-to-let (BTL) sector is currently attractive for investment, despite limitations in mortgage activity, new research has shown.According to a recent report from LSL Property Services, 48 per cent of property investors feel the BTL market is "attractive" in its current state.
Continue reading "BTL attractive despite mortgage limitations, says report"...
27
Mortgage customers in the UK are being urged to switch to fixed rate deals as rates are currently at a three-year low.A recently-released report by moneysupermarket.com has revealed average fixed rates have fallen to their lowest levels since April 2007.
Continue reading "Fixed rates fall to three-year low"...
UK residential landlords who are renting properties to three or more unrelated people have been issued a warning following an incident in Scotland.Landlords have been warned they could face a "hefty fine" if they fall foul of houses of multiple occupancy (HMO) rules.
Continue reading "Landlord fined over lack of HMO licence"...
A new split loan mortgage deal, which is to be offered by HSBC, could be too complex to appeal to house buyers, according to one expert.The bank recently announced the product, which allows customers to fix a proportion of their mortgage, while allowing the rest to remain on a variable rate.
Continue reading "Split loan mortgage 'is too complex'"...
26
Residential landlords operating portfolios in the UK have been extended an invitation to an advice 'webinar' later this week.Online letting agency Upad.co.uk is to host the guidance session, entitled Death of the Amateur Landlords - How to run your property as a business, in a bid to reduce the length of void periods suffered by landlords.
Continue reading "Landlords to receive void period advice"...
Residential landlords in the UK could be encouraged by details of a new deal to be offered by Godiva Mortgages.The lender has reduced the pay rate on its two-year fixed rate buy-to-let (BTL) product.As part of Godiva's BTL range, the mortgage now boasts a rate of 4.59 per cent, a 0.15 per cent reduction on the previous 4.74 per cent rate.
Continue reading "BTL lender reduces mortgage rates"...
Scottish residential landlords who offer properties on an all-bills-included basis could be among those to benefit from new advice from one expert.Blane Judd, chief executive at the Chartered Institute of Plumbing and Heating Engineering, said homeowners need to ensure new boilers are regularly maintained in order to gain the largest financial benefits.
Continue reading "New boilers 'need to be maintained'"...
23
Buy-to-let (BTL) landlords in the UK cold face a challenging time in the coming months, according to new research.A recent survey, carried out by Simply Business, has claimed that the gradual increase of house prices is "mixed news" for the BTL sector.
Continue reading "'Challenging times ahead' for BTL landlords"...
Residential landlords in the UK that are considering acquiring new-build properties to add to their portfolios could be among those interested in recent comments by the Federation of Master Builders (FMB).The organisation has voiced its concerns at Liberal Democrat proposals to introduce VAT on the sale of all new homes.
Continue reading "FMB opposes new build VAT"...
Residential landlords in the UK may experience new or increased tenancies from potential first-time buyers due to difficulties raising deposits.Helen Adams, managing director of FirstRungNow.com, said the low level of first-time buyers is "absolutely to be expected" as it is "very difficult" to raise a large deposit.
Continue reading "Lack of deposit hampers first-time buyers"...
22
Residential landlords in the UK are experiencing the triple benefit of increased rents, increased house prices and reduced arrears, according to a new report.A recently-released study from LSL Property Services revealed that the average rent in the UK now stands at £659 per month.
Continue reading "Landlords enjoy changes in buy-to-let market"...
Residential landlords in the UK have been reminded of their responsibilities with regard to fire safety by an incident in Swindon.One landlord in the area has been fined £8,366 after his property was deemed to be dangerous by environmental health officers, the Swindon Advertiser reported.
Continue reading "Landlord fined over 'dangerous property'"...
21
Residential landlords and other homeowners in the UK will be forced to wait for details of political parties' housing market proposals, according to one organisation.Despite many housing proposals being included in the three main political parties manifesto's the biggest issue was "disappointingly" left out, the Council of Mortgage Lenders (CML) has claimed.
Continue reading "Party manifestos light on details, says CML"...
Residential landlords who are considering making improvements to the properties in their portfolios could be among those to take the advice of one expert.The National Home Improvement Council (NHIC) has urged homeowners to consider improving the energy efficiency of their properties when making home improvements.
Continue reading "Homeowners should consider energy efficiency improvements, says expert"...
Residential landlords who are considering adding to their rental portfolios could be among the house buyers showing a renewed faith in borrowing.Jon Brown, partner relationship manager at iammoving.com, said the property market could be boosted by more people putting their properties on the market.
Continue reading "People's faith returning to borrowing"...
20
House prices are unlikely to rise faster than expected in 2010 due to low transaction levels.This is the view of Lucian Cook, director of real estate service provider Savills, following the publication of a report by Rightmove.co.uk, which revealed that house prices increased by 2.6 per cent in March.
Continue reading "House prices unlikely to rise faster in 2010, says expert"...
Buy-to-let mortgage advice proved to be one of the most popular mortgage information searches last month, according to one advice service.Price comparison website unbiased.com said that people requesting information on buy-to-let mortgages accounted for 14 per cent of all mortgage advice requests in March.
Continue reading "Buy-to-let advice being sought by mortgage advisors"...
19
Residential landlords in the UK could be among those to be encouraged by an increase in the number of mortgages being agreed in the country.A recently-released report from the Council of Mortgage Lenders (CML) revealed that gross mortgage lending was worth £11.2 billion in March.
Continue reading "Mortgage lending increasing, says CML"...
Now is a good time to purchase a property as long as buyers don't "stretch themselves financially".This is the view of Timothy Lambert, head of consulting at independent property investment consultancy Ducalian, who said despite the market not being set to "shoot up" there are still investment opportunities out there.
Continue reading "Ducalian - Now is a good time to buy"...
Residential landlords that are looking to add to their property portfolios could be among those paying "substantially" more for mortgages if they put up small deposits.Independent financial research company Defaqto said mortgage rates are now significantly different depending on the loan-to-value (LTV) ratios involved.
Continue reading "Defaqto - Buyers better off with large deposits"...
16
The National Landlords Association (NLA) is at the centre of a political row over the regulation of shared housing.It comes after Conservative Party leader David Cameron called for new plans for landlords to require planning permission for shared housing let to be scrapped.
Continue reading "MPs row over shared housing"...
Residential landlords in the UK are having their ambition to expand their portfolios dashed by buy-to-let lenders.This is the view of the National Landlords Association (NLA), which said the low number of operators looking to buy additional properties is not surprising.
Continue reading "Landlords being held back by buy-to-let lending, says NLA"...
First-time buyers in London may have to continue renting for ten years before they can afford to buy, according to a new report.A recently-published YouGov survey for the National Housing Federation revealed that more than half of Londoners expect to wait ten years before buying a property.
Continue reading "NHF - Londoners to rent for ten years before buying"...
15
Mortgage customers are better off with a tracker deal in the current market, according to one industry expert.Ray Boulger, senior technical manager at independent mortgage adviser John Charcol, said this is likely to remain the case over the next few months.
Continue reading "Trackers offer better value, says expert"...
A number of UK landlords are looking to purchase additional properties for their rental portfolios, according to a new report.This could lead to a number of people looking for a cheap buy-to-let property insurance quote.A recently-published study by Paragon Mortgages revealed that due to a growing demand for let in the first three months of 2010, 12 per cent of UK landlords are looking to acquire new properties.
Continue reading "Landlords looking to add to portfolios"...
The UK is facing a "severe" housing shortage and the situation is getting worse.This is the view of the Association of Residential Letting Agents (ARLA), which said the private rented sector (PRS) is "struggling" to meet demand due to a lack of "good quality" property.
Continue reading "ARLA - UK housing shortage is getting worse"...
14
House prices in the UK have risen by 7.4 per cent over the last 12 months, according to the latest official figures.This could come as good news to a number of residential landlords who may be looking to reduce the size of their rental portfolios.
Continue reading "CLG - UK house prices rise 7.4 per cent"...
People who make fraudulent home insurance claims are putting premiums up for those who are honest and fair, according to one industry body.The British Insurance Brokers Association (BIBA) referred to such claimants as "bad apples" and said something needs to be done to stop the trend.
Continue reading "Bogus insurance claims are unfair, says BIBA"...
Government support is going to be "essential" if the housing market is to recover and first-time buyers are to get a foot on the property ladder.This is the view of advice service Metropolitan Home Ownership (MHO), which said further investment should be encouraged so that "existing, tried and tested" schemes can be offered by lenders.
Continue reading "MHO - Government support essential for housing recovery"...
13
Mortgage lending in the UK increased in February, according to a new report.New figures released by the Council of Mortgage Lenders (CML) revealed a 12 per cent rise in the number of mortgages advanced for house purchase purposes.However, the organisation warned that a restricted credit supply, coupled with political uncertainty, will mean further rises are unlikely.
Continue reading "CML report shows increase in mortgage lending"...
Uncertainty surrounding the housing market ahead of the forthcoming general election is encouraging more people to put their properties on the market, it has been suggested.Ian Perry, a spokesperson for the Royal Institute of Chartered Surveyors (Rics), said those who have been waiting of late now seem eager to sell.
Continue reading "Election is pushing properties on to the market, says Rics"...
A change in government could be a good thing for the housing market, it has been claimed.David Amstell, founder of property website Briffy.com, said any change of government, regardless of who is in power, can be good for the housing market.
Continue reading "Change in government could be positive, says expert"...
12
A hung parliament would be the worst result of the forthcoming election for the UK housing market, it has been claimed.Ed Mead, director at Douglas & Gordon, an independent estate agent formed in 1958, said people hate not knowing what the future holds and a hung parliament is the "very definition of uncertainty".
Continue reading "Hung parliament is the very definition of uncertainty, says expert"...
Fears surrounding the health of the UK housing market could be eased by the result of one building society in Wales.Principality, the country's largest building society, has reported a significant increase in the number of people taking out a mortgage in the first quarter of the year.
Continue reading "Mortgage figures point to recovery, says lender"...
Too many residential landlords in the UK are handing over the keys to their properties before carrying out simple checks on tenants.This is the view of the National Landlords Association (NLA), which urged landlords to carry out the checks, saying they should not be seen as an "optional Extra".
Continue reading "NLA - tenant checks are not an optional extra"...
9
Residential landlords in the UK could be interested in a recent announcement from one mortgage provider.Godiva Mortgages has announced that it is "slashing" its buy-to-let base rate by 0.50 per cent.The move means interest on the lenders two-year buy-to-let deal has now reduced from 3.85 per cent to 3.35 per cent.
Continue reading "Godiva slashes mortgage rates"...
There is a lot of ignorance on the part of house buyers when it comes to calculating the costs involved.This is the view of property information website Mouseprice.com, which said stamp duty, which is one of the biggest costs attached to buying a property, is often underestimated.
Continue reading "House buyers ignorant of costs, says expert"...
Confidence in the housing market is at its highest point since the price crash, it has been claimed.Mouseprice.com, an online source of UK property information, said a pick up in confidence is good for the market.The comments follow the publication of a Zoopla.co.uk report, which revealed that confidence in the market is at a two-and-a-half-year high.
Continue reading "Housing confidence is 'on a high'"...
8
The upward trend in house prices is set to continue following a 1.1 per cent increase last month.Figures from the latest Halifax House Price Index have revealed that the current average property price now stands at £168,521.According to the report, this represents annual growth of 5.2 per cent and means prices have increased for eight of the past nine months.
Continue reading "Halifax - Upward price trend set to continue"...
Home information packs (Hips) have helped to speed up the buying and selling process for property transactions.This is the view of property advertising website The Little House Company, which said Conservative plans to abandon the system are wrong.
Continue reading "Hips can speed up the purchasing process, says expert"...
7
One in ten house buyers underestimate the costs involved with purchasing a property, according to a new report.Figures from the recently-published survey by Unbiased.com revealed that 24 per cent of buyers "have no idea" of how much the extra cost will amount to.
Continue reading "House buyers 'in the dark' over purchasing costs"...
Converting homes that remain empty for prolonged periods could go some way to easing the UK's housing problems, it has been claimed.David Ireland, chief executive at the Empty Homes Agency, said if something was done to reduce the number of empty homes in the UK, it would be a source of housing supply for "quite a while".
Continue reading "Converting empty homes could ease housing issues, expert claims"...
First-time buyers will not find it any easier to get on to the property ladder despite an increase in the stamp duty threshold.This is the view of advice organisation Firstrung, which said increasing the threshold from £125,000 to £250,000 will make "absolutely no difference whatsoever".
Continue reading "Stamp duty move will make no difference, says expert"...
Residential landlords in Scotland are set to benefit from new advice on all aspects of letting following the launch of a new online service from the National landlords Association (NLA).The organisation has launched a Landlord Library, which will give those operating north of the border up-to-date information on a range of issues including regaining possessions and the first steps to becoming a successful landlord.
Continue reading "Scottish landlords to benefit from new NLA service"...
6
Many homeowners will be keen to make energy saving improvements following the introduction of new government schemes.This is the view of independent eco-friendly home review website whatgreenhome.com, which said the chance to earn money from excess energy could prove attractive.
Continue reading "People 'will be keen' on new government energy schemes"...
Residential landlords in the UK would be among those to benefit from greater regulation of the country's letting agents, according to one industry organisation.Landlord information website Property Hawk said many landlords use letting agents without knowing if they are registered to a trade body.
Continue reading "Landlords 'would benefit from greater regulation of agents'"...