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New research has shown that the buy to let property boom is set to continue, and even more families will have to rent if the economy does not improve. In 1994, just 7% of the population were renting privately. A study conducted by the Resolution Foundation for housing charity Shelter has suggested that the number… Continue Reading
Monthly Archives: June 2012
Why is Landlord Insurance So Important
Tenants are typically viewed to be of higher risk than owner-occupiers, and for this reason regular homeowner insurance policies are often invalid for tenanted homes. Most mortgage lenders will require that you have buildings insurance in place. Landlords building insurance will cover you against a number of eventualities, and is specifically tailored to offer a… Continue Reading
Council To End ALMO Deal 5 Years Early
Following a vote by it’s cabinet, Charnwood Council have decided to transfer the management of its 6,000 homes back to the council from it’s arm’s-length management organisation (ALMO), Charnwood Neighbourhood Housing. CNH was set up in 2007 with a 10-year-contract to manage the council stock. The contract included a break clause in June 2012, which… Continue Reading
Base Rate To Remain at 0.5%
The Bank of England has announced that the base rate will be held at 0.5%, making this it’s 39th consecutive month at the historically low rate. The decision is good news for mortgage holders who have rates linked to the base rate. Savers, however, will continue to suffer, with low returns on their money at… Continue Reading
Government Back Plans To Scrap Rent Subsidy for Higher Earners
The government is introducing measures that will remove the social housing rent subsidy for higher earners. In what is being called a “pay to stay” scheme, the government are backing plans to introduce a new household income threshold, which will see social tenants with a total income above the threshold paying full market rent. It… Continue Reading
Crackdown On Subletting Saves London Council £500k
Following a crackdown on the illegal subletting of council properties, the London Borough of Hillingdon has reclaimed 36 properties from people committing housing tenancy fraud. The 36 properties have been reclaimed following a crackdown which began just over a year ago in April 2011. The properties were reclaimed from tenants who had been illegally sub-letting their… Continue Reading
RICS Urges Government To Give Landlords More Rent Flexibility
The government has been urged to allow social landlords greater flexibility over setting rents on a local basis as part of the affordable rent model. The call from the Royal Institute of Chartered Surveyors comes as part of a wide-ranging review into the UK’s residential housing policy. In the review, published this week, RICS said… Continue Reading
Zoopla/DPG Merger Gets the OFT Green Light
The merger between Zoopla and Digital Property Group (DPG), which owns Primelocation and Findaproperty, has finally been cleared by the OFT today. DPG has been purchasing smaller property websites for the past few years, and their latest move is being seen as an effort to loosen rightmove’s firm grip on the online property advertising market.… Continue Reading