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According to the latest official figures from the Council of Mortgage Lenders (CML), buy to let mortgage lending continues to rise. The CML are the trade body for most banks and building societies lending to landlords . The CML have reported that property investors borrowed £2.4 billion in November 2014. Lending was split roughly 50:50 between… Continue Reading
Category Archives: News
Rents Hit All Time High
According to the latest statistics by LSL, average rents in England and Wales hit an all time high last month, averaging £768, 1.5% higher than the same time last year. Across England and Wales, there is a mix of results, with the West Midlands 2.4% lower than a year ago, and a drop of 2.3%… Continue Reading
Why Online Letting Agent Reviews Are So Important
In an online world where there are many Online Letting Agents to choose from, it’s hard to decide which one to pick. The services offered by each differ slightly, but all basically do the same thing; get your property out there! But that’s not the whole story. It’s not just about getting your property out… Continue Reading
Ghost Tenants Put Landlords and Agents at Risk
Buy-to-let landlords have millions of ‘ghost tenants’ secretly living in their rented properties and The Online Letting Agents is urging landlords and agents to check their properties, to avoid the possibility of hefty fines resulting from the new immigration legislation. According to recent research*, at least 3 million ghost tenants live in the UK’s 4.5… Continue Reading
Rents are on the Rise!
According to data from the Office for National Statistics, the prices paid for private rental properties by tenants in Great Britain rose by 1.0% in the 12 months to June 2014. Private rental prices grew by 1.0% in England, 1.1% in Scotland and 0.2% in Wales in the 12 months to June 2014. Rental prices increased… Continue Reading
New Research Shows Damage to Property is No 1 Cause of Disputes
New research reveals that over half of landlords (58%) cite damage to property as the no 1 cause of tenant disputes, followed by redecoration (50%), cleaning and rent arrears (42% respectively). The study*, conducted by The Online Letting Agents, shows that two thirds of landlords went to court to settle disputes and for 20% of… Continue Reading
New Research Shows Majority of Landlords Say No to DSS Tenants
New research shows that eight out of ten landlords say ‘no’ to LHA tenants, with just 18% happy to let to this group. The study*, conducted by The Online Letting Agents, also reveals that 82% of landlords believe LHA tenants do not care for the property in the same way as private tenants and the… Continue Reading
Students Are The Most Reliable Tenants
According to new research, students are the most reliable tenants in the private rented sector (PRS). Statistics from Total Landlord Insurance show only 9.6 per cent of insurance claims come from student properties, which is the second lowest of any tenant group, according to Property Reporter. The average claim from a student property was £2,090.18… Continue Reading
Landlords Look to Buy Locally
The majority of landlords who are interested in expanding their property portfolio would plan to buy in their local area, according to new research by the National Landlords Association (NLA). Their survey found that three-quarters (75 per cent) of landlords said their next purchase would be close to their current home, or at least the area… Continue Reading
Tenant Demand to Grow by 1 Million
The UK Buy to Let boom looks set to continue according to top economists as they predict that tenant demand will increase by 1 Million more tenants who will be looking for homes in the UK’s private rental sector over the next 5 years. At the same time data published by the Lloyds Banking Group… Continue Reading