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18
Mar
2010
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"...
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"...
1
Increasing numbers of people in England are relying on the private rented sector for their housing needs.This is according to the Department of Communities and Local Government's English Housing Report, which revealed an increase of one million in the number of households renting privately in the last nine years.
Continue reading "Private rentals increasingly used for housing needs"...
Banks need to do more to ensure that buy-to-let mortgage finance is easier to obtain.This is the suggestion from MyMortgageDirect, which believes that banks should make borrowing easier, something that would be welcomed by residential landlords.
Continue reading "'Pressure' on banks to boost mortgage finance"...
26
Feb
Property prices have declined by one per cent in February, according to a recent report.Data published by the Nationwide building society revealed the month-on-month decline and said it could be attributed to decreased activity in the housing market as a result of the snowy weather.
Continue reading "February brings decline in property prices"...
Residential landlords could be among those who face increased pressure to improve the energy-efficiency of their properties in the future, it has been suggested.The National Home Improvement Council (NHIC) has suggested that mortgage restrictions should be imposed on properties that are not energy-efficient.
Continue reading "NHIC - Homeowners should be under pressure to increase efficiency"...
25
Property trade organisations have claimed that the sector is already open to scrutiny and transparent practices.The National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents (ARLA) have said the sector has already shown a willingness to adopt transparent practices in regard to professional fees.
Continue reading "Property sector is open to scrutiny, agents claim"...
Residential landlords in the UK could be among those to benefit from new pressure being placed on the government in regards to professional fees.There are currently a number of examples of "unwelcome practice" in regards to the transparency of the charging of service fees including administration cots for leasehold contracts, commission on letting renewals, commission for home information packs and energy performance certificates.
Continue reading "RICS voices transparency concerns"...
24
The Scottish mortgage market is recovering at a slower rate than the UK as a whole, according to a new report.Figures recently published by the Council of Mortgage Lenders (CML) have revealed that 14,200 home loans were approved in Scotland in the fourth quarter of 2009.
Continue reading "Scottish mortgage market recovering slower than UK as a whole"...
Landlords who let their properties on contracts with all bills included could be among those to be affected by "mixed news" on water prices.While average water bills appear to be set to remain "relatively steady" according to regulator Ofwat, the Consumer Council for Water has voiced concerns that prices are still set to increase from some customers.
Continue reading "Mixed news announced for water customers"...
Letting agent renewal fees are unfair and should be scrapped, it has been claimed.The call comes from the National Landlords Association (NLA), which described the fees as a means for agents to receive "money for nothing".It follows the Office of Fair Trading's pursuit of a court order to protect landlords from "severely camouflaged" fees for services they have not requested or "consciously agreed to".
Continue reading "NLA - Letting agent renewal fees should be scrapped"...
23
Energy customers who are loyal to their local suppliers are likely to be charged more, it has been claimed.The news could be of interest to a number of residential landlords who offer properties to tenants with all bills included.A recent report from price comparison service Confused.com has revealed that a number of suppliers are charging customers in their host regions more than their national average.
Continue reading "Loyal energy customers 'are charged more'"...
Residential landlords in the UK could be among those to be interested in a new energy scheme taking place in Germany.The i2home project in the town of Saarbrucken is monitoring the value of home automation, which allows residents to operate household products and systems through devices like mobile phones and touch screens.
Continue reading "Home automation could cut energy costs"...
Residential landlords in the UK could be among those who are benefitting from a "wider range of products" in the mortgage market, it has been suggested.Recently-published research into fixed-rate mortgages has revealed that the cost of such products has continued to decrease over the last 21 years.
Continue reading "Mortgage market now offers 'wider range of products'"...
22
Increased regulation of the housing market will help consumers see the difference between professional estate agents and those who fail to deliver high standards.This is the view of the National Association of Estate Agents (NAEA), which said it would like to see a "greater level" of regulation.
Continue reading "NAEA Regulation will protect consumers from unprofessional agents"...
Housing market proposals put forward by the Office of Fair Trading (OFT) could mean savings for both buyers and sellers of property.This is the view of online property website Briffy.com, which said the findings of the report could see vendors cut out "all the nonsense" of dealing with estate agents.
Continue reading "OFT proposals 'could mean savings in property deals'"...
19
Current legislation on how properties are bought and sold in the UK, which dates back to 1979, could be "hindering the development of new business models" in the housing market, it has been claimed.The Office of Fair Trading (OFT) has published the findings of its latest report and suggested that buying and selling houses could become cheaper and more efficient if the UK were able to adopt new methods, similar to those practised in the US.
Continue reading "OFT- Legislation is hindering housing market innovation"...
Residential landlords and other homeowners are put off from installing green measures by the costs involved, it has been claimed.Build It Magazine, which offers advice on self-build and home improvements, said many green measures are "just too expensive to install".
Continue reading "Green measures are 'too expensive'"...
Residential landlords who are looking to add to their property portfolios with buy-to-let mortgage deals could notice that the lending market will remain static for some moths, it has been suggested.Independent property investment consultancy Ducalian has claimed that mortgage lenders will take time to return to confidence despite being pressured by the government to increase their lending.
Continue reading "Mortgage lending recovery 'will take time'"...
A balance between supply and demand in the Scottish housing market will see property values remain "steady" in the coming months.This is the view of legal firm Russel + Aitken, which said the market has recently been boosted by "more plentiful mortgage lending".
Continue reading "Scottish property values to remain 'steady'"...
Mortgage lending in the UK declined by 32 per cent last month, a new report has revealed.Figures from the latest research conducted by the Council of Mortgage Lenders (CML) have shown that gross mortgage lending for January was £9.1 billion.
Continue reading "CML reveals mortgage decline"...
Residential landlords who are looking to increase the size of their portfolios could be among those who are picking up properties from below the asking price.Figures from independent estate agent haart have revealed that properties are regularly being sold for up to eight per cent below sellers asking prices.
Continue reading "Properties sold for less than asking prices"...
Landlords who are looking to add to their portfolios with new-build properties could be among those to be interested in the result of a recent report.Some landlords may find it more difficult to locate such properties as the latest Glenigan Index has revealed that new construction projects have decreased by eight per cent last month, when compared to January 2008.
Continue reading "Decrease reported in new-build projects"...
The government could risk damaging the private rented sector if it increases regulation of the buy-to-let market.This is the view of the Council of Mortgage Lenders (CML), which said "inappropriate" regulations could offset the effects of other government policies brought in to boost the rental sector.
Continue reading "CML - Regulation could damage buy-to-let"...
Residential landlords are being hampered by a "dearth" of available products in the mortgage market, it has been suggested.A new survey has revealed that confidence in the mortgage market is continuing to grow.However, the report also revealed that buy-to-let customers are suffering from the fact that the market is being "dominated" by just two lenders.
Continue reading "Mortgage brokers braced for business boost"...
The government's Boiler Scrappage Scheme should be extended to include boilers other than those that are G-rated.This is the view of the eco homes and sustainable residential development website whatgreenhome.com, which said to meet the demand for the scheme, the government should open the offer up to households which operate boilers from all ratings.
Continue reading "Boiler Scrappage Scheme 'should be extended'"...
Residential landlords in Scotland could be among those to have noticed an increase in the valuation of their properties, a new report has suggested.Figures from the latest Scottish House Price Monitor, from banking group Lloyds TSB Scotland, have revealed that the average property in the country is now worth £160,074.
Continue reading "Recovery continues in Scottish housing market"...
The latest Mortgagee Market Review from the Financial Services Authority (FSA) should not "excessively restrict" the mortgage market.This is the view of the Association of Mortgage Intermediaries (AMI), which said proposals which have been put forward to protect a small number of consumers could have an "adverse" effect on the property purchasing majority.
Continue reading "AMI - FSA review must not restrict mortgage activity"...
The Housing market is to "continue steadily forward" in 2010, it has been claimed.Property investment adviser, Assetz has claimed that the market is set to grow by a "modest" five per cent over the next 12 months.Stuart Law, the firm's chief executive said the growth could be attributed in part to a rise in the number of first-time buyers.
Continue reading "Housing market set to grow"...
Stamp duty is a "persistent and pernicious" hurdle to overcome in order to purchase a new property, according to one industry body.The National Association of Estate Agents (NAEA), which described the charge as "Britain's most unpopular tax", has called on the government to make stamp duty "fairer and more manageable".
Continue reading "NAEA - Stamp duty is Britain's most unpopular tax"...
Recently-published mortgage arrear figures have demonstrated that the private rented sector has shown "resilience" during "difficult times".This is the view of the National Landlords Association (NLA), which said the buy-to-let market has proven to be "robust" during the economic downturn.
Continue reading "NLA - Arrears figures demonstrate market resilience"...
The number of residential landlords in arrears on their mortgages has decreased, a new report has suggested.Recently-published figures from the Council for Mortgage Lenders (CML) quarterly report, which include both homeowner and buy-to-let arrangments, have revealed a decline in the number of mortgages in arrears.
Continue reading "Landlords mortgage arrears decrease"...
Residential landlords in the UK could be among those who took advantage of the increased stamp duty threshold before the December 31st deadline.New data from the Council of Mortgage Lenders (CML) has revealed that 55 per cent of all home loans approved in December 2009 were for properties valued under £175,000.
Continue reading "CML - Stamp duty rise caused a rush of sales"...
The "worryingly high" level of tenants' rental arrears could see a number of residential landlords default on their mortgage, one industry body has warned.According to the Association of Residential Letting Agents (ARLA), despite a monthly decrease, more than half of its members have reported an increase in the number of tenants that are "struggling" to meet their rental demands.
Continue reading "Tenant arrears could mean landlord mortgage defaults"...
Residential landlords could be among the "brave" house hunters who purchased new properties during last month's cold snap.Recently-published figures from the National Association of Estate Agents (NAEA) have revealed that the number of people registering with estate agents to buy a new property increased from 251 in December 2009 to 291 in January.
Continue reading "NAEA - cold snap did not put off house buyers"...
The number of buy-to-let loans approved in 2009 was 58 per cent lower that the previous year, new figures have shown.Data from the latest report from the Council for Mortgage Lenders (CML) has revealed that 93,500 buy-to-let loans were approved last year, compared to 222,700 in 2008.
Continue reading "Buy-to-let loans decreased in 2009"...
Homeowners and landlords with tracker mortgage deals are going to be in for a shock when the Bank of England (BoE) increases the rate of interest.This is the view of Stephen Robertson, director general at the British Retail Consortium (BRC), who said the low rate paid by some customers could rocket when their initial two to five-year tracker rate comes to an end.
Continue reading "BRC - Tracker mortgage customers are going to be horrified"...
Residential landlords do not need to spend a fortune when redecorating their properties to attract tenants, it has been suggested.By using paint instead of wallpaper, feature walls can be created at a much cheaper cost, according to leading interior designer Adrienne Chinn.
Continue reading "Feature walls 'can be a cheap way to improve a property'"...
The extreme weather conditions in the UK over the last few weeks had a negative affect on the housing market, it has been claimed.According to the latest report on house prices by the Royal Institute of Chartered Surveyors (RICS), more surveyors reported a fall, rather than a rise, in new instructions during the adverse conditions.
Continue reading "RICS - Cold snap affected housing market activity"...
The repossession system should benefit those who are doing all they can to pay off their debts, it has been claimed.Al Elliott, co-owner of the Home-owners Advice Centre, has called for a system which "differentiates" between those who make an effort to pay and those who are "reckless" with their borrowing.
Continue reading "Repossession system 'should benefit those who make an effort to pay'"...
Dec
2009
Home repossessions in Britain next year will not be as bad as feared, the Council of Mortgage Lenders (CML) has said.Bernard Clarke, a spokesman for the organisation, which represents the interests of mortgage providers in the UK, said that low interest rates have boosted borrowing for home purchases.
Continue reading "Repossession forecast lower than expected"...
7
The Financial Services Authority (FSA) should oversee regulation of property investments as a whole and not just the buy-to-let sector, Assetz has said.This would ensure risks to investors were adequately disclosed and would prevent mortgage mis-selling, the property specialist claimed.
Continue reading "Assetz: FSA should regulate all property investments"...
Homeowners, including buy-to-let landlords, could pay off their mortgages earlier than expected by taking advantage of low interest rates, according to the Council of Mortgage Lenders (CML). The comment follows the publication of a survey by Co-operative Banking, which revealed that the number of people making overpayments on their home loans has increased by 56 per cent on last year.
Continue reading "CML: Homeowners may take advantage of low interest rates"...
Eco-conscious landlords who kit out their properties with environmentally-friendly household appliances may have been misled by manufacturers' claims, a new report has suggested.Some of the biggest-selling products may not be performing in accordance with standards claimed by the manufacturer, according to a new study by the Department for Environment, Food and Rural Affairs.
Continue reading "Green landlords misled over appliances "...
An extension to stamp duty relief would be nothing more than a "sticking plaster" on the underlying problems of the housing market, it has been claimed.PricedOut.org.uk, the national campaign for affordable house prices, has said extending the tax holiday would be a short term measure and the government must do more to stimulate house prices.
Continue reading "Stamp duty relief "is a sticking plaster" on housing problems"...
Residential landlords could see void periods drop, with available properties reaching a wider audience, if online search engine Google launches a UK property portal.The firm is in talks to launch the service early next year, according to media reports yesterday (December 3rd).
Continue reading "Google to launch property portal"...
A group of Labour backbenchers has called on the government to extend the current stamp duty holiday beyond December 31st.An Early Day Motion was raised by MP Lindsay Hoyle yesterday (December 2nd), urging the government to extend the exemption increase "in order to stimulate the housing market further and to help the economy grow in 2010".
Continue reading "Labour backbench calls for stamp duty holiday extension"...
A "healthy" demand for properties in London's West End has seen one landlord turn over a significant profit despite the tough economic climate. Shaftesbury, which operates a portfolio of residential, commercial and office lets in the Carnaby Street, Chinatown and Covent Garden areas, has posted an adjusted before tax profit of £21.3 million for the year to September 30th.
Continue reading "Demand for West End property remains despite recession"...
First-time buyers should be wary of the fees associated with short-term mortgage deals, one expert has claimed.Although short-term deals can enable people to take the first step on the property ladder, they can be difficult for people to understand, according to Helen Adams, managing director of first-time buyer specialists Firstrungnow.com.
Continue reading "First-time buyers warned over short-term mortgage fees"...
The government is "out of touch" with the rented sector, the Residential Landlords Association (RLA) has claimed.RLA chairman Alan Ward highlighted the recent decision to treat holiday lets as unearned income as a clear example of the government's misunderstanding of the sector.
Continue reading "RLA: Government out of touch with rented sector"...
Utilities supplier British Gas has joined the National Landlords Association's (NLA) Recognised Supplier Scheme.The scheme, which now comprises of 17 providers, will offer landlords a range of products and services aimed at helping then meet legal requirements.
Continue reading "British Gas join NLA supplier scheme"...
House prices will continue to rise into the new year due to the imbalance between buyer interest and available housing stock, it has been claimed.The statement from the Royal Institution of Chartered Surveyors (RICS) follows the recent publication of Nationwide house price data which showed prices had increased by 0.5 per cent in November compared to the previous month.
Continue reading "RICS: House prices will continue to rise"...
House prices continued to rise throughout the month of November, a new study has shown.The average price of a UK property now stands at £162,764, a similar level to that seen in early 2006, according to the Nationwide report.This figure represents the second consecutive monthly rise of 0.5 per cent and shows an annual increase of 2.7 per cent.
Continue reading "Property prices increase further"...
30
Nov
Home information packs (Hips) should be suspended by the government in order to stimulate the property market at a crucial point in its recovery, according to the National Association of Estate Agents (NAEA).The organisation has called for the immediate suspension of Hips and urged the government to re-examine their viability, after in-house research suggested they are not valued by 77 per cent of purchasers.
Continue reading "NAEA: Suspend home information packs"...
The housing market will continue to be affected by the recession for "a long time" despite reported increases in property prices, it has been claimed.Latest figures from the Land Registry show that the average house price now stands at just under £160,000 after further increases of 0.6 per cent in October.
Continue reading "Recession to hit property market for "a long time""...
27
The number of landlords who are remortgaging their investment properties has fallen to its lowest level in more than two years, new research has shown.A panel-based survey of brokers by Paragon Mortgages revealed that 39 per cent of landlords took out buy-to-let mortgages for remortgage purposes in the third quarter of this year.
Continue reading "Two-year low for buy-to-let remortgage market"...
Proposals made by the UK Treasury to strengthen the protection of home loans will be difficult to apply, the Association of Mortgage Intermediaries (AMI) has said.The proposals, announced earlier this week, will aim to protect borrowers when lenders sell on mortgage books to third parties.
Continue reading "AMI: Treasury proposals will be difficult to implement"...
The Association of Mortgage Intermediaries (AMI) has given its support to proposals to extend the scope of the Financial Services Authority's (FSA) regulation of buy-to-let mortgages. Buy-to-let mortgages would be brought under the FSA's regulatory regime for the first time under the proposals, which the authority claimed would strengthen oversight of the industry and protect consumers making investment decisions on property.
Continue reading "AMI welcomes buy-to-let proposals"...
Reduced asking prices for prime London properties mean investors, including buy-to-let landlords, looking to expand their portfolios have "the opportunity of a generation", London Central Portfolio has said.Prices in the capital have fallen despite demand remaining high, which has created a "very specific window of opportunity", Naomi Heaton, the firm's chief executive, said.
Continue reading "Window of opportunity for London landlords"...
Investors looking to buy into the UK residential rental property sector "should do their research first", it has been claimed. Coming on the back of the buy-to-let boom seen in Merseyside following the announcement that Liverpool was to be the European Capital of Culture, the region's leading landlord group has revealed that it is still seeing inexperienced investors moving into the market.
Continue reading "Prospective landlords 'should do their research' "...
Landlords looking for new investment opportunities should seek out properties near to successful schools, new research has suggested.Homes within the catchment area of schools with a 100 per cent attainment rate of level four SATs or above are worth almost £20,000 more than properties located near poor performing schools, according to a new study from the Nationwide Building Society.
Continue reading "Good schools boost property prices"...
A north-south divide has been revealed in the number of UK homes left empty for longer than six months.The north-west of England currently has 66,691 empty homes, accounting for 22 per cent of the country's total, according to the latest Empty Homes survey by Halifax.
Continue reading "Empty homes rise to 300,000"...
The number of people who have benefited from the stamp duty holiday is just 25 per cent of government forecasts, new research has shown.Only £173 million was saved by 115,447 buyers compared to the £600 million the government had estimated would be saved during the tax break, Zoopla.co.uk said.
Continue reading "Stamp duty has been 'a desperate failure'"...
20
Landlords looking to get the best deals in the buy-to-let property sector should conduct research and invest in reputable companies before entering deals, according to property investment adviser Assetz.The advice follows recent research by Moneyfacts, which revealed many landlords have had difficulty finding new deals without being able to put up deposits of 20 per cent.
Continue reading "Landlords urged to do research before making deals"...
A modest increase in property values can be expected over the next 12 months, but a return to house price booms remains "unlikely", according to realpricecomparison.com.Francis Ghiloni, the property website's commercial director, said a five per cent increase over the coming year "looks possible".
Continue reading "Five per cent house price increase "looks possible""...
Buy-to-let landlords are slowly gaining more options in the way of available mortgages, new figures have revealed.There are currently 239 buy-to-let products available to landlords, up from a low of 179 in September, according to online information provider Moneyfacts.
Continue reading "Buy-to-let sees signs of slight recovery"...
The end of the current stamp duty holiday, which is scheduled for December 31st, could have a "detrimental effect" on housing market recovery in some of the UK's weaker regions, according to new research.A drop in activity, following the end of the temporary £175,000 threshold, is expected by surveyors in the West and East Midlands, Wales and Scotland, according to the Royal Institution of Chartered Surveyors (RICS).
Continue reading "RICS: Stamp duty could have detrimental effect on housing market"...
A monthly house price index released this month could have a negative effect on housing market confidence, according to one mortgage specialist.This month's monthly index, released by FindaProperty.com, revealed that asking prices for homes are down by 0.5 per cent, the first drop seen since March this year.
Continue reading "House price index to have 'negative effect' on confidence"...
A number of "industry heavyweights" have added their support to the 1808 Coalition which is campaigning for the government to modernise stamp duty.Recently set up by the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents, the coalition lobbies the government to extend the "holiday" on stamp duty, or make the temporary threshold of £175,000 permanent.
Continue reading "Property experts demand change on stamp duty"...
Residential landlords in the UK would face a £5 billion bill on empty properties under controversial new proposals set to be put to Alistair Darling.The chancellor should levy a tax on the one million homes left empty by landlords to plug holes in the country's economy, Brendan Barber, general secretary of the Trades Union Congress (TUC), told the Observer.
Continue reading "Landlords could face 5 billion pounds' "empty property tax""...
13
The National Landlords Association (NLA) today announced that its vice-chairman John Socha will step down as a director later this month.Mr Socha joined the Small Landlords Association (SLA) in 1996 and was chairman when the organisation became the NLA to create a UK-wide platform.
Continue reading "NLA vice-chairman to step down"...
The National Landlords Association (NLA) has moved to strongly criticise a north-east councillor for a "continuing vendetta" against students.Ron Armstrong, a councillor for North Jesmond in Newcastle, recently published comments on the Jesmond Residents' Association website explaining how "taxpayers contribute to university student finance".
Continue reading "NLA slams councilor over students' vendetta"...
A drop in the number of expected repossessions could actually be bad news for homeowners and buy-to-let landlords, it has been claimed.Latest Council of Mortgage Lenders figures showed that 48,000 repossessions are now expected by the end of the year, a number that was originally placed at 75,000.
Continue reading "Drop in CML repossession figures could be 'bad news'"...
Figures released yesterday proved that the holiday on stamp duty should be extended in order for the recovery of the housing market to continue, the National Association of Estate Agents (NAEA) has said.The Council of Mortgage Lenders (CML) revealed that one-third of first-time buyers escaped stamp duty in September as a result of the government's temporary tax threshold.
Continue reading "NAEA: Stamp duty holiday must be extended"...
Reports of an increase in the number of UK properties being brought to the sales market is a "cause for cheer", according to online property information specialists Zoopla.co.uk.Figures released by the Royal Institution of Chartered Surveyors showed that a net balance of 15 per cent of surveyors reported an increase in new instructions last month.
Continue reading "Market increase "cause for cheer""...
One third of first-time-buyers escaped stamp duty in September as a result of the government's "holiday" on the tax, according to the Council of Mortgage Lenders (CML).Under the temporary tax rule, properties under £175,000 are exempt from stamp duty.
Continue reading "CML: Third of first-time-buyers escaped stamp duty"...
6
Landlords will not take responsibility for paying utility bills for tenants who leave a property without paying the final bills, an industry body has said.Comments from Landlord Assist follow the government's review of water charges, which suggested that residential landlords may have to pay any outstanding debts.
Continue reading "Tenants to be responsible for water bills, landlord group says"...
Houses worth more than £1 million continue to be priced at levels higher than the housing market peak in 2007, estate agency Prickett & Ellis has suggested.The comments are in contrast to recent figures released by Zoopla.co.uk, which showed that the number of London properties worth more than £1 million has fallen by 29 per cent in the last two years.
Continue reading "High-end properties still priced at peak levels"...
Further increases in the number of people looking to rent properties could be expected after mixed messages came through from mortgage lenders.The number of 85 per cent loan-to-value (LTV) mortgages available from lenders is at its highest level in more than 12 months, according to online financial advisers Moneyfacts.
Continue reading "Rise in available 85 per cent mortgages"...
House prices continued to increase throughout October, albeit at a slower rate than the previous month, new figures have shown.Last month saw prices rise by 0.4 per cent to an average of £162,038, according to building society Nationwide.
Continue reading "House prices still rise despite 'slow' month"...
Oct
Landlords and homeowners in some Welsh towns have experienced the worst drop in house prices in England and Wales, according to recent government figures.Average house prices across the two countries have decreased by 5.6 per cent in the last year, data from the Land Registry report for September showed.
Continue reading "Wales 'hit hardest' buy price crash"...
Landlords are likely to face "challenging conditions" next year, amid the "slow process" of exiting recession, advice specialist Landlord Assist has warned.Growing rental arrears are likely to be the cause of difficulties as tenants may find it difficult to meet their rent obligations if unemployment remains high, the organisation claimed.
Continue reading "Landlords to face tough times in 2010"...
First-time buyers are beginning to return to the market or are at least contemplating making purchases, according to reports from the Royal Institution of Chartered Surveyors (RICS).The RICS Housing Market Survey, which questions surveyors on enquiry trends, found that 13 per cent of enquiries were coming from first-time buyers, with a net balance of 28 per cent reporting that this represented an increase over the past three months.
Continue reading "RICS: First-time buyers return to market"...
Complaints about estate agents to the Property Ombudsman Scheme (TPOS) are on the rise and are expected to increase further by the end of the year.Calls to complain about agents rose to 129 a week, which equals to around four an hour in the three months to the end of September, the property ombudsman Christopher Harmer said.
Continue reading "Complaints about lettings agents on the rise"...
Exeter City Council is to re-launch it Extralet scheme next week as it turns to private landlords to ease a housing shortage in the area.Under the scheme, landlords can receive a guaranteed rental income in return for making properties available to people on the council's waiting list.
Continue reading "Local council turns to private landlords"...
The average number of properties owned by residential landlords has risen from 6.3 to seven in the past year, according to figures released today (Friday 23rd October).Lower interest rates and higher rental yields are behind the 11 per cent rise, claim the Association of Residential Letting Agents (ARLA).
Continue reading "Increase in landlord property portfolios"...
Enquiries about repossessions have increased by over a quarter in the last 12 months, a new report has shown.The Property Portfolio Rescue (PPR) distress index reported a rise of 25.7 per cent in enquiries from concerned property owners.
Continue reading "Repossession enquiries on the rise"...
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House prices will return to their peak within 18 months if the market continues to grow at the rate seen in the last two quarters, according to property investment advisors Assetz.The claim follows a Council of Mortgage Lenders (CML) report released yesterday, which revealed that there was a two per cent increase in mortgage lending in September over August, bringing the total lent last month to £12.5 billion.
Continue reading "Housing market 'will recover' in 18 months"...
The Financial Services Authority (FSA) yesterday announced proposals for increased regulation of the buy-to-let mortgage market.Plans under the Mortgage Market Review include tighter scrutiny of buy-to-let lenders by the FSA who currently only oversee the residential mortgage market.
Continue reading "FSA proposes major reform for buy-to-let lending"...
Proposals outlined by the Financial Services Authority's (FSA) Mortgage Market Review yesterday have been met with apprehension from the National Landlords Association (NLA).The organisation, which represents the interests of landlords across the country, has expressed concerns that plans to place a ban on self-certification mortgages and more stringent affordability checks by lenders could mean increases in the costs of borrowing for landlords.
Continue reading "NLA: Landlords should not pay costs of buy-to-let regulations"...
Residential landlords are beginning to feel optimistic about house prices for the first time in more than two years, according to a report from Paragon Mortgages.An increase of 0.8 per cent on the value of properties is now expected over the next 12 months, after what the Residential Landlords Association described as "two years of relative pessimism".
Continue reading "Landlords' confidence returns"...
Landlords have been warned that they need to make sure their properties meet health and safety regulations.Southend Council has called for more investigations into landlords who allow tenants to live in poor conditions.This follows the case of a landlord in the region found to be renting out bedsits that were unfit to house people.
Continue reading "Council 'tough' on rogue landlords"...
Landlords with buy-to-let mortgages are increasingly choosing tracker rates, new research has found.A study from Legal & General indicated that variable rates are also rising in popularity for property investors.The firm's seventh quarterly Mortgage Purchases Index indicated that 30 per cent of buy-to-let mortgages over the past three months were variable rates.
Continue reading "Landlords choosing tracker rates"...
All buy-to-let mortgages should be regulated, according to the British Property Foundation (BPF).The organisation has called for the Financial Services Authority (FSA) to take control of the issue and introduce new regulations.At the moment, the BPF thinks that buy-to-let mortgages are thought of in the same manner as business loans and are treated differently to other mortgages.
Continue reading "Buy-to-let mortgages 'need regulating'"...
Landlords in the buy-to-let market are being left jaded by the state of the mortgage market, a report has claimed.New research from the Young Group suggested that many landlords are happy to keep hold of their existing property portfolios rather than pursue new investment opportunities.
Continue reading "Mortgage market leaves landlords 'jaded'"...
Landlords can afford to be more 'bullish' with rent pricing in the current market due to more favourable conditions.That is the opinion of email4property.co.uk, which has urged people unsure whether to stay in the rental market to hold tight.
Continue reading "Landlords 'can be bullish with rent'"...
There is never a wrong time to enter the buy-to-let market, a property expert has claimed.Lovemoney.com indicated that there are always good deals available for shrewd landlords and now is no exception.Tim Wilson, head mortgage broker at the website, pointed towards non-standard buildings as a good investment option at the moment.
Continue reading "'Never a wrong time' for buy-to-let"...
Sep
The buy-to-let market has turned and is offering promising opportunities to landlords looking to invest.That is the view of John Charcol, which has claimed that income from rent is likely to cover any purchases of new homes in the coming years.
Continue reading "Buy-to-let market 'has turned'"...
Becoming a buy-to-let landlord is a completely different situation to purchasing a home to live in personally.That is the opinion of Property Owners Directory, which has suggested that amateurs should carry out extensive research before entering the buy-to-let market.
Continue reading "Buy-to-let 'totally different experience'"...
People who have never invested in the property market before are being enticed into the sector, experts have claimed.Assetz has claimed that the favourable conditions within the marketplace are leading to a surge in interest from new investors.
Continue reading "Buy-to-let interests new investors"...
There has been an increase in house prices in the UK, according to new government figures.Research from the Department of Communities and Local Government found that property values rose by 1.4 per cent between June and July.During July, the average home price in Britain was £196,338, while house values improved by 2.1 per cent in the second quarter of 2009.
Continue reading "House price increase noted"...
14
There has been an increase in property values around the world in the past quarter of 2009, according to new figures.Research from Knight Frank found that just under half of all countries surveyed had witnessed rises in house values between April and June this year.
Continue reading "Worldwide property price increase noted"...
Now is the right time to buy for anybody looking to invest in the property market, experts have claimed.Estate agency haart explained that market conditions and other factors have made the housing market a favourable environment for buyers at the moment.
Continue reading "'Absolutely' the right time to buy"...
Property investors in Scotland have the chance to attend an innovative new conference focusing upon the housing sector.The Property Managers Association Scotland (PMAS) Limited Annual Conference is set to be held on September 23rrd.Taking place at the Dunblane Hydro Hotel in Dunblane, BBC Scotland's Lesley Riddoch will host the event.
Continue reading "Role-play conference for property market"...
Long-term landlords can expect to enjoy excellent prospects in the coming months and years, experts have claimed.LettingZone has forecast that the future looks "very good" for landlords who are in the rental market for the long haul.
Continue reading "'Future bright' for long-term landlords"...
Aug
There are still likely to be many people looking to rent out homes once the housing market fully recovers, as it is still difficult to get onto the property ladder.The Council of Mortgage Lenders (CML) has indicated that decreasing house prices will not necessarily result in a surge in homes being bought.
Continue reading "Getting on property ladder 'difficult'"...
People investing in the buy-to-let sector have been warned to make sure they know the risks of purchasing property.The Times has suggested that many people are attracted to the sector, but do not end up making profits due to mismanagement and other factors.
Continue reading "'Warning' for buy-to-let sector"...
There has been an increase in the amount of activity happening in the buy-to-let sector, experts have claimed.A new study from Connells Survey & Valuation has found that both buying and selling of rented properties is on the up.Earlier this year, just one in 14 investors in the UK were moving into the buy-to-let market, but this figure rose to one in ten last month.
Continue reading "Increased buy-to-let activity cited"...
The buy-to-let sector has undergone a dramatic change in the past two years, which has been underpinned by the financial crisis.That is according to the Residential Landlords Association (RLA), which has expressed the opinion that alterations to the UK's banks have had a massive impact upon buy-to-let investors.
Continue reading "'Dramatic' changes in buy-to-let sector"...
The number of delinquencies on buy-to-let mortgages in the UK dropped in the second quarter of 2009, new data has shown.Research from Standard & Poor's (S&P) has found that the amount of delinquencies in the sector declined for the first time in two years.
Continue reading "Buy-to-let delinquencies decline"...
There needs to be a 'rational approach' taken by landlords to any recovery in the buy-to-let sector, experts have stated.The Residential Landlords Association (RLA) has indicated that there are still many opportunities for shrewd landlords in the sector.
Continue reading "'Rational approach' to buy-to-let recovery needed"...
Properties in seaside towns could prove to be good investments for landlords, according to new research.A study from Halifax found that homes located near the sea are most affordable in the north of England.However, seaside resorts are still more expensive to buy houses in than most inland areas of the UK.
Continue reading "Seaside towns make good investments"...
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Jul
The worst of the property market crisis appears to have come to an end, an expert has suggested.Malcolm Harris, an independent property specialist, noted that reports on the housing market in the last few months have been "generally positive".
Continue reading "Property market 'recovering'"...
The majority of mortgage brokers would like the Financial Services Authority (FSA) to regulate the buy-to-let property market, according to a new study.Exact Mortgage Experts surveyed 549 mortgage intermediaries and found that 54 per cent would prefer regulation.
Continue reading "Brokers keen on buy-to-let regulation"...
Jun
Some of the best places in the UK for landlords to invest have been pointed out in a new countdown.Times Money has compiled a top ten buy-to-let hotspots list, with the assistance of PropertyEarth.net.The newspaper noted that there is a wide geographical spread in the rundown, with various parts of Britain offering bargains to shrewd landlords.
Continue reading "Buy-to-let hotspots revealed"...
The buy-to-let market is being seriously considered as an excellent investment option by many professionals in the finance sector, a new survey has claimed.According to research from PropertyEarth.net, more than one third of finance professionals would consider becoming a landlord.
Continue reading "Finance professionals look to buy-to-let market"...
House prices will increase by 17 per cent by the end of 2009, according to economists at property agent Assetz.The prediction is at odds with the recent gloom in the property market, which has seen prices tumble as the recession has taken hold of the UK.
Continue reading "House prices 'to rise by 17 per cent'"...