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For the latest buy to let mortgage news, view Mortgages For Business’ latest edition of “First Rate“
Monthly Archives: July 2012
Tenant Cashback Scheme and Landlord Responsibility
Under the Tenant Cashback Scheme, responsible residents will have the chance to tackle everyday DIY dilemmas like leaky taps, fitting doors and painting and decorating. Those who sign up to the scheme could receive more than just cash for their efforts. There is also the opportunity to get on the career ladder with the opportunity… Continue Reading
Tenant’s Right To Manage
A tenant management organisation (TMO) is made up of council or housing association tenants and leaseholders. They collectively take responsibility for managing the homes they live in. Those resident members of the TMO create an independent legal body and usually elect a tenant-led management committee to run the organisation. The TMO can then enter into a… Continue Reading
Woman is Prosecuted For Subletting her Council House
A woman who illegally sublet her York council house has become the first person in the North Yorkshire region to be successfully prosecuted. Beatrice Stanford, 43, admitted charging a tenant £450 a month for the City of York Council-owned property in Fenwick Street. She later increased the rent to £520 a month including utility bills. She… Continue Reading
Complex Buy to Let Index for Q2 2012
The Mortgages for Business Complex Buy to Let Index for Q2 2012 has just been released in the latest issue of FirstRate. The main findings show: • Yields on multi-units increase to 7.5% in Q2 • Complex buy to let returns consistently higher than vanilla • Mainstream vanilla buy to let yields fall to 6.1% in… Continue Reading
Demand for Lettings Increases
According to statistics from rightmove, the last 3 years has seen a 135% increase in demand for lettings, as measured by search activity. Across the country, according to rightmove statistics, 56% of tenants are “trapped renters”, unable to buy a property, and stuck on the lettings cycle. With their latest figures showing that nearly 40%… Continue Reading
Universal Credit and Housing Benefit
Universal Credit is a new single payment for people who are looking for work or on a low income. Universal Credit will help claimants and their families to become more independent and will simplify the benefits system by bringing together a range of working-age benefits into a single streamlined payment. The new Universal Credit… Continue Reading
Charities Plea For Government To Reconsider Cutting Housing Benefit For U25’s
Following Conservative Party proposals to cut housing benefit for under 25s, charities have united to send a joint letter to the Prime Minister asking him to reconsider. The letter, which was published in The Times newspaper, calls for David Cameron to re-consider his proposals, or risk having a ‘disastrous impact on thousands of young adults.’ Ten charities in total… Continue Reading
ARLA Survey of Landlords
ARLA is running its 2nd survey of 2012, which is aimed at residential investor landlords who have an existing portfolio of one or more properties. click here to take part in the survey now Continue Reading
PRS Continues To Grow, According to Government Figures
According to government figures released in the department for Communities and Local Government’s English housing, the proportion of people living in the private rented sector rose again last year. The survey shows that 17% of households (3.62 million) lived in the private rented sector in 2010/11, an increase from 2.45 million in 2005. In contrast the number… Continue Reading