Archive

Archive for January, 2014
January 30th, 2014
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The government are offering financial incentives to landlords to improve the energy efficiency of their properties.

However, following changes to ‘ECO’ funding announced in George Osborne’s recent Autumn Statement, landlords have only until Friday 7th February to apply for the subsidies.

Under the Energy Act 2011, landlords will be unable to let properties which fall below a prescribed level of energy efficiency without making improvements. Fines of up to £5,000 per property could be imposed for those falling short of the bar.

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January 28th, 2014
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The government needs to offer greater certainty over when housing benefits will be paid to landlords, otherwise people on benefits are likely to find it harder to be able to rent, says the RLA.

The landlord organisation, the country’s largest, is warning that the government’s refusal to nail down when a landlord can secure direct payment of benefits from a tenant  will create uncertainty and lead to landlords not accepting those in receipt of benefits.

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Author: Categories: Property Market Trends Tags:
January 23rd, 2014
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A survey has found that landlords who currently let property to people on benefits, will not continue to do so after the roll-out of universal credit.

Changes to welfare payments and concerns about the new universal credit system mean that four in five landlords are unwilling to let properties to tenants who receive housing benefits, a survey has found.

Recently it emerged that one of the UK’s best-known landlords, Fergus Wilson, had served eviction notices on tenants claiming benefits, and other big property investors suggested they might follow suit.

A survey by spareroom.co.uk has found that there has already been a sharp decline in the number of landlords offering homes to claimants.

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January 21st, 2014
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The Government should abandon its Help to Buy mortgage support scheme in London says one of the housing markets leading players.

Nigel Wilson, the chief executive of Legal & General, believes that the scheme risks stoking a price bubble which will put homes out of reach for everyone except the most affluent.

Wilson, speaking to The Telegraph, argued that house prices in London and surrounding areas have reached “absurd” levels and that Help to Buy has pushed up demand at a time when the supply of affordable homes remains a problem.

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January 16th, 2014
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Renting out a property can be a great way to earn a steady income, as long as your tenants pay their rent! Unfortunately, there is always the chance that you will get unreliable tenants who don’t pay you what they owe, leaving you in a bad financial situation!

The good news is that severe rental arrears are at their lowest level ever since 2011. According to recent figures, the number of tenants more than two months behind on rent payments has decreased by 25%. The Office of National Statistics revealed that one in five families in England rent their property from a private landlord.

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January 14th, 2014
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There are now nearly ten potential buyers for every property on the market recent research has found, with the number of people interested in each home set to continue to rise.

According to property services group Countrywide, there was an average of 9.7 buyers for every property coming on to the market in November 2013, compared to 8.5 in November 2012, 7.1 in November 2010 and 6.5 in November 2008.

With an average of 10.4 prospective tenants per property, the lettings market has also remained strong.

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January 9th, 2014
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The government is set to kick off an ‘everything must go’ sale by letting people challenge the use of public property worth £330 billion.

If the challenge is successful, the public property will be sold off to the highest bidder and the money will go towards paying off the national deficit.

To help the land rush, a new website listing all government land and buildings will go online.

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