Property 118

As the sun begins to show its face, we’re all taking our first tentative steps around the garden and the majority of us will all be thinking the same thing; what a mess! If it makes you feel any better, you should know that we’re all in the same boat and, even though it will... Read more

“How much can I borrow?” is a question I am asked on a daily basis and thought I would assist by creating a written reference point. The first thing to bear in mind is that Lenders perceive a buy to let mortgage as a self funding commercial business proposition with the rental income covering the... Read more

The government’s housing benefits policy is in disarray as judges have ruled a crucial test to confirm how big a house a tenant qualifies to rent discriminates against the disabled. The housing benefit regulations, which came into force in April 2012, were criticised as flawed in the Court of Appeal because they do not allow... Read more

Nearly a third of landlords have plans to buy more rental property this year, according to specialist buy to let lender CHL Mortgages. Landlord confidence is running high with just 1 in 10 aiming to sell property or leave buy to let, with 31% set to expand their portfolios, while the rest continue with business... Read more

Mortgage Trust will now consider remortgaging a property inside 6 months of the date of purchase, but only if there have been significant improvement works carried out which have enhanced the property’s value. If you have bought an investment property, and can demonstrate a detailed schedule of works, Mortgage Trust will subject to criteria allow you to... Read more

Calls to boost buy to let by upgrading pensions to include residential property are gathering momentum in Parliament. An influential select committee of MPs is urging the government to streamline pension and tax laws for landlords to stimulate investment in private rented housing. The Communities and Local Government Select Committee, which includes MPs from all... Read more

Beds in sheds landlords are the target of a new government campaign to crack down on shoddy housing. Housing minister Grant Shapps is spearheading the battle against the spread of ‘suburban shanty towns’ by injecting £1.8 million into a fighting fund for nine councils. The minister is also urging councils who have ignored the issue... Read more

This week’s edition features Julie Ford looking at the rise of virgin landlords and Ben Reeve-Lewis delves deeper into his Tenancy Relations Officer role. There is also news of buy to let mortgage changes, an update on the government and insurance companies stand off and a round up of landlords in court. Featured Articles The... Read more

Buy to let landlords filed nearly 6,000 claims to evict tenants in the first three months of the year, according to the latest Ministry of Justice figures. County courts handle around 65 new cases every day and lawyers are concerned that backlogs will cause financial problems for landlords as strikes and work-to-rules by public sector... Read more

Health and safety inspectors are cracking down on landlords who fail to manage building projects on their rental properties – even if they employ professional builders to do the work. The Health and Safety Executive (HSE) is warning that landlords face prosecution if they flout a little known construction regulation. Regulation 9(1)(a) of the Construction... Read more

London has dropped to second in the rankings for most expensive capital to rent in as rents in Paris takes on the mantle. Rents in the French capital are now three times more than Shanghai and Mumbai. New York appears to have been the best performer though, with the highest yield and highest leap in... Read more

SAFEagent is launching a ‘week of activity’ beginning on May 14th until 20th May, aimed at raising awareness of the scheme with tenants and landlords. As part of the week there will be national and regional events to increase the knowledge of landlords- especially first-time landlords- and tenants of Client Money Protection Schemes and their... Read more

Landlords looking to install or purchase properties with solar panels using a 25 year lease agreement need to think twice if they require buy to let finance. We have had feedback from 3 of the major buy to let lenders asking if solar panels installed on a 25 year lease plan are considered suitable security for lending purposes The... Read more

The Coventry Building Society has cut rates and fees on buy to let loans through subsidiary Godiva. Two year fixed rates are offered at 4.30% at 65% loan to value with a £250 booking fee and no arrangement fee, while another two-year fix is available at 3.99% with a £250 booking fee and a £749... Read more

Buy to let mortgage applications make up one in five of all home loan applications, according to one of the UK’s largest estate agents. Haart also claims buy to let remortgage applications reached a new high for the year, despite the Council of Mortgage Lenders disclosing the number dropped by 1% in the first three... Read more

Buy to let borrowing was down 5% in the first three months of the year after a barnstorming end to 2011. In figures that revealed buy to let is treading water rather than buoyant, new landlord loans totaled £3.7 billion, according to the latest official figures from bank and building society trade body the Council... Read more

My article this time is more of an open question to which I would like your input. Background first. I was listening to ‘In Business’ on Radio 4 the other day, a programme about something I had not heard of- the business concept of “Frugal Innovation”, currently much in favour with many huge corporations and... Read more

A new buy to let lender has entered the market called Keystone They specialise in buy to let mortgages for Single Purpose Vehicle limited companies, HMOs and Multi-Unit properties. This part of the market was largely exited by lenders after the credit crunch and it is great to see some competition for more niche criteria giving Landlords a greater... Read more

Independent commercial mortgage finance & bridging loan specialist Crystal Mortgages has reduced its three month bridging loan to 0.75% per month, a cut of 0.5%. The change is available up to 70% LTV, although the company must guarantee to return two months interest if the account is settled in month one. Free valuation on selected... Read more

Money and blood often don’t mix – which is why so many families go to war over their ‘fair share’ of cash. With so many wealthy business people and celebrities drawing up marriage pre-nups, perhaps the time has come for property business partners to consider the same deal. Most property partnerships start on good terms... Read more