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Housing association and council tenants may receive rent increases of no more than 3.1 % (not including up to £2 a week extra that some tenants could pay under rent convergence rules) following the inflation figures announced this morning by the Treasury. The retail price index, one of the key measures for economic growth, fell in September to 2.6… Continue Reading
Monthly Archives: October 2012
Rents Continue to Rise as Demand Remains Strong
The latest report from Buy to Let Mortgages has revealed that gross yields from rental properties continues to rise as demand for properties remains strong. Gross yields have increased across all types of buy to let properties in the last quarter (except for semi-commercial, eg flats above shops). Across the last 4 quarters, multi-unit freehold… Continue Reading
The DPS Launch a new Insurance Backed Scheme
The Deposit Protection Service (DPS) has been granted approval by the UK government to run an insurance-based deposit protection scheme in England and Wales. The new scheme will run alongside the DPS’s existing custodial scheme. The DPS currently operates the only custodial based deposit protection scheme in England and Wales and will be the only… Continue Reading
Newham Borough Council Introduce Landlord Licences
Landlords with rental properties in the London borough of Newham must license all their properties in the borough by January 1st. Approximately one in three households in Newham borough, an estimated 35,000, are rental properties. Newham Council is charging £150 for applications made before the end of this year. After this time, the fee for… Continue Reading
Record Fine for Landlord Without Planning Consent
Private landlord, Salah Ali, 52, of Wembley, has been fined a record £1.4m after converting a house in Willesden Lane, north-west London, into 12 flats without planning permission. If he does not pay within 6 months, Ali has been warned that he could face a jail sentence of up to 10 years. A judge at… Continue Reading