Landlords with rented property insurance look set to benefit as the Government and local authorities tackle unlawful sub-letting.
The National Fraud Authority and the Chartered Institute of Housing have published a blueprint for tackling social housing tenancy fraud, which takes up to 50,000 homes away from low income households and costs the public purse nearly £1billion per year. Read more…
Property owners with mortgages and buy to let home insurance should get ready for interest rates to rise to “normalised” levels of around 5%, according to a Bank of England official.
Paul Fisher, executive director of markets and a member of the rate-setting Monetary Policy Committee, said central bank policymakers wanted rates to increase as much as tenfold from their historic low of 0.5% as soon as possible.
“We hope people are aware that interest rates at some point will go up again and that they will head back to a normalised position,” he said in an interview with The Daily Telegraph.
Describing “normalised” as “around” 5%, Fisher said: “What we need to do is to trigger the mindset in people that that’s where rates will eventually go back to.”
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2010 was a good year for landlords with buy to let insurance.
But next year could be better still, according to a market forecast from buy to let mortgage specialist Paragon Group.
Chief Executive Nigel Terrington said: “2010 has provided a solid base for the buy-to-let market on which to build over the next 12 months. Read more…
Homeowners and people with landlord house insurance have been warned to stay vigilant over fire risks as the festive season continues.
There are many potential hazards over the holiday as people let their hair down and relax.
Fire is a particularly important risk for homeowners to consider as historically accidental fires have, in previous years, peaked during the month of December. Read more…
Landlords with property insurance who bought high-end homes as the market fell are benefiting from firming property values.
According to property adviser Savills, prices in prime London have shown much smaller falls in the final quarter of 2010 compared to the rest of the country, while the most centrally located addresses have recorded marginal price growth. Read more…
Property owners with landlords insurance are being called on to help councils tackle homelessness by housing social tenants.
According to The Guardian newspaper, this is because council housing waiting lists are rising but social housing stock remains limited.
The paper says the Government plans to let councils to discharge themselves of their homelessness duty if they can offer alternative suitable private sector accommodation. Read more…
Landlords who take out buy to let home insurance could take advantage of the slow housing market to invest in further stock during the next few months.
According to the latest RICS UK Housing Market Forecast, UK house prices will finish the year 2% lower than at the end of 2010.
Transactions are likely to remain flat, while repossessions will decline marginally. Read more…