March 30, 2009

Thirty-seven per cent of landlords waiting on rent

Permalink: Thirty-seven per cent of landlords waiting on rent
by Gill Montia

New research from the National Landlords' Association (NLA) indicates that 37% of landlords currently have tenants in arrears with their rent. A recent NLA survey also revealed that 44% of landlords have experienced rental arrears in the past six months ...


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Mortgage approvals up in February as buyers return to the market Permalink: Mortgage approvals up in February as buyers return to the market by Kay Murchie Figures released today by the Bank of England bring some much-needed good news to the housing market after mortgage approvals for house purchases were higher than expected last month. According to the Bank, the number of mortgages ... (more...) March 27, 2009 Land Registry: House prices fall a further 2% Permalink: Land Registry: House prices fall a further 2% by Kay Murchie Figures from the Land Registry have revealed that house prices in England and Wales lost a further 2% in February, taking the annual rate of decline from 15.1% to 16.5%. This takes prices back to levels seen in September ... (more...) Charities demand better protection for repossessed tenants Permalink: Charities demand better protection for repossessed tenants by Gill Montia A number of organisations have formed a pressure group that is petitioning for new legislation to protect tenants in England and Wales, who are forced out of their homes because their landlord is repossessed. According to the Citizens Advice Bureau, ... (more...) March 26, 2009 Absconding tenants on the rise Permalink: Absconding tenants on the rise by Gill Montia The Letting Protection Service (LPS), which provides specialist insurance, referencing and protection products for UK landlords, has reported a sharp rise in the number of tenants quitting their properties to avoid paying rent. Claims for lost rent resulting from absconding tenants increased from ... (more...) Rents fall as new properties flood the market Permalink: Rents fall as new properties flood the market by Gill Montia Further evidence of oversupply in the rental market has emerged with new surveys from property search engine, Globrix, and property website, Findaproperty.com. The BBC has reported that the number of new rental properties coming onto the market rose from 98,841 ... (more...) Underinsurance blights 50% of property claims Permalink: Underinsurance blights 50% of property claims by Gill Montia Norwich Union (NU) is warning UK property owners that they are putting themselves at risk by not insuring their properties to the full reinstatement value. The insurer carried out 128 valuations as a sample for a recent survey and found ... (more...) March 25, 2009 Prime London rents tumble Permalink: Prime London rents tumble by Gill Montia Knight Frank has reported that prime central London rents fell by 7.4% during the first quarter of 2009. The decline is the second-largest record by the up-market estate agent and means that rents in the most expensive areas of the capital are now on ... (more...) Irish buy-to-let investors feel the pain on margins Permalink: Irish buy-to-let investors feel the pain on margins by Gill Montia A report in the Irish Independent claims that lenders in the Republic have increased margins on buy-to-let mortgages from an average 1.78% in September 2008 to a current 3.15%. The newspaper found that Irish building society EBS, its offshoot, Haven, ... (more...) March 20, 2009 FSA warns half-a-million BTL investors face negative equity Permalink: FSA warns half-a-million BTL investors face negative equity by Gill Montia The Financial Services Authority (FSA) has warned that half of all buy-to-let borrowers could end up in negative equity, if house prices fall by 30% from their 2007 peak this year. According to the regulator, 500,000 buy-to-let investors and two ... (more...) Brits shun US second home market Permalink: Brits shun US second home market by Gill Montia PropertyIndex.com has reported that interest from British second-home buyers in US property, has cooled. During January and February of last year, 7.73% of searches on the property portal gave the USA as a preferred destination. During the same period of 2009, searches of ... (more...) March 18, 2009 OEA sees continued complaints about Estate Agents Permalink: OEA sees continued complaints about Estate Agents by Gill Montia The Ombudsman for Estate Agents (OEA) has reported that it is dealing with more disputes in relation to lettings and Ombudsman, Christopher Hamer, is predicting that during 2009 lettings will become the major area of his activities. According OEA figures 1,043 new cases ... (more...) March 10, 2009 Police investigate buy-to-let mortgage fraud Permalink: Police investigate buy-to-let mortgage fraud by Gill Montia The City of London Police are questioning suspects in connection with an alleged buy-to-let mortgage fraud. Eight people linked to Sussex-based Eastbourne Financial Services have been arrested on suspicion of conspiracy to defraud and money laundering. The mortgage broker is no longer trading ... (more...) Buyer enquiries continue to rise but house sales at 31-year low Permalink: Buyer enquiries continue to rise but house sales at 31-year low by Kay Murchie The Royal Institution of Chartered Surveyors' (Rics) have reported that buyer enquiries have risen for the fourth consecutive month as house prices continue to fall and attract potential buyers. However, Rics said property sales in the UK ... (more...) March 9, 2009 Virgin Group seeks licence to offer mortgages Permalink: Virgin Group seeks licence to offer mortgages by Kay Murchie Sir Richard Branson is looking to obtain a licence for his Virgin Group in a bid to become a High Street bank and return to the mortgage market. The billionaire entrepreneur told The Times: “We are going to get back into ... (more...) Bovis Homes hit by housing downturn Permalink: Bovis Homes hit by housing downturn by Kay Murchie Bovis Homes has followed other rival housebuilders by reporting a pre-tax loss for 2008 of £78.7 million, compared to a £123.6 million profit the previous year. It also had to write off the value of its land bank to the tune ... (more...) March 8, 2009 Global index shows house prices falling in 80% of locations Permalink: Global index shows house prices falling in 80% of locations by Gill Montia The latest global house price index from Frank Knight highlights the extent to which the credit crisis has affected housing markets worldwide. According to the estate agent, over 80% of the locations studied recorded negative price growth in ... (more...) House prices tumble across Europe Permalink: House prices tumble across Europe by Gill Montia The Royal Institution of Chartered Surveyors (Rics) has published its latest European Housing Review in which it states that mortgage credit availability is likely to be the key driver of housing market activity in 2009. The study found that house prices were falling ... (more...) Spanish court victory paves the way for tax refunds Permalink: Spanish court victory paves the way for tax refunds by Gill Montia A recent High Court decision from Spain means that thousands of Britons could be able to reclaim some of the capital gains tax paid when they sold homes in the country. In July of last year, a group of ... (more...) March 6, 2009 RBS denies mortgage borrowers full base rate cut Permalink: RBS denies mortgage borrowers full base rate cut by Gill Montia RBS and its subsidiary NatWest will only be passing on half of yesterday's base rate cut to mortgage customers on their standard variable rates (SVRs). The lenders are reducing SVRs by 0.25%, although they claim most customers will not be ... (more...) 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Thirty-seven per cent of landlords waiting on rent

Mortgage approvals up in February as buyers return to the market

Land Registry: House prices fall a further 2%

Charities demand better protection for repossessed tenants

Absconding tenants on the rise

Rents fall as new properties flood the market

Underinsurance blights 50% of property claims

Prime London rents tumble

Irish buy-to-let investors feel the pain on margins

FSA warns half-a-million BTL investors face negative equity

Brits shun US second home market

OEA sees continued complaints about Estate Agents

Police investigate buy-to-let mortgage fraud

Buyer enquiries continue to rise but house sales at 31-year low

Virgin Group seeks licence to offer mortgages

Bovis Homes hit by housing downturn

Global index shows house prices falling in 80% of locations

House prices tumble across Europe

Spanish court victory paves the way for tax refunds

RBS denies mortgage borrowers full base rate cut

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