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February 27, 2010
Boiler scrappage scheme – landlords can apply
Permalink: Boiler scrappage scheme – landlords can apply
by Gill Montia
Landlords are being reminded of the benefits of the Government's boiler scrappage scheme, which was launched for households in England in January.
According to letting specialist, Leaders, private landlords can apply alongside homeowners.
For those with old G-rated boilers, it provides £400 ...
February 26, 2010
Rents rise as accidental landlords melt away
Permalink: Rents rise as accidental landlords melt away
by Gill Montia
FindaProperty.com's latest Rental Index shows average asking rents increasing by 1.2% to £814pcm in February, although still down 1.9% on a year ago.
All UK regions saw increasing or stable rents and landlords continued to enjoy steady returns, with average gross ...
Nationwide reports 1% fall in house prices in February
Permalink: Nationwide reports 1% fall in house prices in February
by Kay Mitchell
The latest house price index from the Nationwide Building Society has revealed a 1% fall for the month of February compared with January.
It was the first time in 10 months that house prices have fallen as the wintry ...
Absconding tenants on the rise
Permalink: Absconding tenants on the rise
by Gill Montia
Despite the recession coming to an end, more landlords and letting agents are being forced to issue court proceedings to recover unpaid rent, and in some cases costs for property damage.
Tracing agency FinderMonkey.co.uk is therefore urging landlords to compile as much information ...
February 24, 2010
Government proposals for landlords “unrealistic”
Permalink: Government proposals for landlords “unrealistic”
by Gill Montia
“Government plans for the private-rented sector are completely unrealistic."
So says LetAssured UK managing director, David Plaister, who is concerned about "a huge housing gap in Britain which government expects private landlords to fill".
Recent proposals from Housing Minister, John Healey, include: a hotline ...
Flat sharing back in vogue
Permalink: Flat sharing back in vogue
by Gill Montia
Flat sharing is back in vogue, according to Gumtree.com
Reasons behind the surge in enthusiasm include: the hike in house prices, increased divorce rates, popularity of city crash pads, and the emotional benefits of sharing accommodation.
Research from the online classified website suggests 68% ...
NLA welcomes High Court ruling on Foxtons case
Permalink: NLA welcomes High Court ruling on Foxtons case
by Gill Montia
The National Landlords' Association (NLA) has welcomed the news that a High Court order has been secured by the Office of Fair Trading (OFT) against Foxtons.
The OFT began investigating the London-based letting agent following complaints from landlords about the ...
Santander enhances mortgage product range
Permalink: Santander enhances mortgage product range
by Kay Mitchell
Spanish banking giant Santander, which is the UK’s second-largest mortgage lender behind Lloyds Banking Group, has today showed signs that lending criteria is loosening.
The bank has announced it will increase the maximum loan sizes for first-time buyers.
The limit for first-time buyers of ...
Barratt upbeat as housing market recovers
Permalink: Barratt upbeat as housing market recovers
by Kay Mitchell
Barratt Developments, which is the UK's largest housebuilder, has today announced losses narrowed as the housing market recovered in the second half of last year.
The housebuilder said it made a pre-tax loss of £178.4 million, against a loss of £594.5 million ...
Landlords miss out by rejecting LHA tenants
Permalink: Landlords miss out by rejecting LHA tenants
by Gill Montia
Recent research from lettingaproperty.com shows that 14% of those searching the rental website were unemployed, with 8% claiming Local Housing Allowance (LHA).
A snapshot of prospective tenants also revealed that 77% were in full-time employment; 4% in part-time work; 4% ...
February 23, 2010
Lettings agents’ terms bound by High Court order
Permalink: Lettings agents’ terms bound by High Court order
by Gill Montia
The Office of Fair Trading (OFT) has secured a final High Court order against lettings agent, Foxtons.
The move prevents the firm from using certain terms relating to sales and commissions in its agreements with landlords.
The watchdog has also written ...
BBA reports sharp fall in January mortgage approvals
Permalink: BBA reports sharp fall in January mortgage approvals
by Kay Mitchell
The British Bankers’ Association (BBA) has today revealed a sharp fall in the number of new mortgages approved by the major banks in January.
According to the BBA, mortgage approvals for the month stood at 35,000 - down from ...
February 22, 2010
New sense of confidence fuels overseas property searches
Permalink: New sense of confidence fuels overseas property searches
by Gill Montia
Interest in international property has soared, according to Primelocation International.
The website has reported a 134% increase in searches in January (compared to a year earlier), December having already shown a 25% rise.
The firm suggests the UK's cold weather is ...
Criminal gangs seek gullible landlords
Permalink: Criminal gangs seek gullible landlords
by Gill Montia
Criminal gangs don't make the best tenants, LetAssured UK warns as privately-rented properties across the country continue being targeted by brothel and drug factory operators.
The firm's managing director, David Plaister, points out: “If they are caught it is not the criminal ...
February 18, 2010
Housing completions in England fall to 63-year low
Permalink: Housing completions in England fall to 63-year low
by Kay Mitchell
According to official figures from the Department of Communities and Local Government (DCLG), housing completions in England have fallen to their lowest level since World War II.
Figures show 118,000 properties were completed during the 2009 year - 17% ...
Mortgage lending dives to 10-year low
Permalink: Mortgage lending dives to 10-year low
by Kay Mitchell
The Council of Mortgage Lenders (CML) has today revealed a fall in January mortgage lending - primarily due to the end of the stamp duty holiday, which prompted a rush to buy homes in December.
In autumn 2008, the Government opted to ...
Paragon brokers positive on 2010 mortgage lending
Permalink: Paragon brokers positive on 2010 mortgage lending
by Gill Montia
Paragon Mortgages is predicting a 7% rise in mortgage lending during the early months of 2010 (compared to the previous quarter), having consulted its brokers.
The buy-to-let specialist's Financial Adviser Confidence Tracker index has now been in positive territory for four ...
February 17, 2010
CML opposes buy-to-let lending regulation
Permalink: CML opposes buy-to-let lending regulation
by Gill Montia
The Council of Mortgage Lenders (CML) has come out against Financial Services Authority regulation of buy-to-let lending, on the grounds that this sector of the UK mortgage market essentially involves commercial transactions with an investment dimension.
Responding to government proposals, the Council argues ...
February 16, 2010
Scottish housing market gains strength
Permalink: Scottish housing market gains strength
by Kay Mitchell
The latest Scottish House Price Monitor from Lloyds TSB Scotland has revealed the market has made a strong recovery, with prices increasing across the country in the last quarter.
According to the report, the average cost of a home grew to £160,074 in ...
Official figures put annual house price rise at 2.9%
Permalink: Official figures put annual house price rise at 2.9%
by Kay Mitchell
Official data has revealed house prices in the UK rose by 2.9% over the course of 2009.
The data from the Department for Communities and Local Government (DCLG) showed that the recovery in prices over the course of 2009 ...
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