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Archive for August, 2010
August 23rd, 2010
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Buy-to-let properties are often viewed as a higher risk than owner occupier properties because the landlord isn’t living in the property themselves. Read more…

Author: Categories: Landlord Insurance Tags:
August 20th, 2010
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The Bank of England recently announced that UK credit card lending has increased by £0.1 billion throughout the month after an upward trend seen in a £0.2 billion average increase over the previous 6 months, which could impact those in the buy-to-let sector.

With the increasing interest on credit card repayments those in rented accommodation could struggle to make their rental payments as well as make credit card repayments, falling into rent arrears. Read more…

Author: Categories: Landlord Insurance Tags:
August 18th, 2010
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Moneysupermarket.com has warned homeowners considering moving home and renting out their current property instead of selling, to take out the appropriate landlords insurance policy.

While the housing market is still fluctuating many homeowners are considering renting instead of selling their properties. This means their home insurance policies will no longer be valid and they will need to take out a landlord’s insurance policy that covers the increased risks of renting. Read more…

Author: Categories: Landlord Insurance Tags:
August 12th, 2010
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With the especially cold winters over the last couple of years home owners are being urged now to take preventative measures to avoid burst pipes this coming winter.

 

In recent years Christmas and New Year has seen insurers receiving up to 50% more claims than expected for the time of year as a result of the freezing weather. More of these claims are for damage caused by escape of water than for fire or theft. Read more…

August 10th, 2010
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Research by the Deposit Protection Agency (DPS) suggests that renting properties through a letting agent could considerably shorten void periods.

The statistics reveal that letting agents find tenants for 63% of properties within two weeks compared to 38% of properties rented directly by the landlords. The exact cost to landlords is not recorded however online letting agent Upad.co.uk estimated the cost of void periods could be up to £3 billion a year. Read more…

Author: Categories: Landlord Insurance, Letting Agents Tags:
August 9th, 2010
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The average student rent has increased by 4.3% this year to £65.30 a week, almost three times the rise over the last two years and compared to a current 3.2% inflation rate.

 

A study by the website accommodationforstudents.com which analysed 59,000 properties in 84 university towns found that students going to university next month are paying record rents of £65.30 as a weekly average. Read more…

August 5th, 2010
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CHL Mortgages have suggested that landlords are slightly less positive about the future of the buy-to-let market than they were six months ago.

The survey by CHL Mortgages was completed in July and involved 622 landlord respondents. Although the majority (64%) of respondents were still positive, this figure has fallen from 81% at the start of the year. However, the number of landlords who are unsure about the future of the buy-to-let market is up from 9% to 25%. Read more…

Author: Categories: Economic Situation, Landlord Insurance Tags: