The Bank of England has raised interest rates by 0.75percentage points to 3% - the biggest hike since 1989 See the comment on this from our colleagues at Mortgage for Business.
The Seventh Base Rate Rise This Year
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News
Landlords prepare to be buy-to-let losers
Estate Agent Today has published an article by the MD of the Open Property Group on the potential finacial future of landlords. It can be seen here, and says: Mortgage rate hikes have already halved landlord profits according to latest research, and a base rate rise...
Uncertainty around new legislation causing landlords to leave.
The time being taken to review legislation which could overhaul the private rented sector is creating anxiety and uncertainty among landlords and further triggering some to leave the market, an expert at a leading property consultancy has warned. The Government’s...
Warning of fewer rental properties as landlords squeezed
The BBC have run a piece on the danger to tenants with higher mortgae rates forcing out landlords. It can be seen here, and says: Renters could find it more difficult to find properties in the next year or two as landlords struggle with higher mortgage rates,...
Only 10% of rental property is affordable on LHA
A recent study by Crisis and Zoopla established that just 11% of one-bedroom properties in England are now affordable to renters on Local Housing Allowance – that’s down from 17% in April. They also established that the proportion of affordable two-bedroom properties...
NATIONWIDE HOUSE PRICE INDEX
UK Nationwide house prices fell by 0.9% in October month-on-month versus zero growth for September. House prices grew by 7.2% year-on-year falling short of analysts’ expectations and dropping from the prior month’s reading of 9.5%. This is a significant miss both in...
Individual HMO Room Council Tax Banding – possible good news
Traditionally, Houses in Multiple Occupation (HMO’s) have been assessed as one unit for Council Tax purposes, with the landlord responsible for the payment, which was then recovered from the tenants in a fair and proportionate system. Over the past few years, many...
Strong Demand at Student Accommodation Provider Emperic
Student accommodation operator Empiric Student Property said it is trading well, with "record high" revenue occupancy of 98% achieved for the academic year 2022-23, which exceeded guidance of 90% to 95% provided back in August. Growth in like-for-like average weekly...
Benefits claimant thought he’d be ‘better off in jail’ amid wait for DWP support
The 63-year-old former teacher is being taken to court due to his failure to pay rent but says he can't afford it without the benefits he is entitled to A cash-strapped man says he has been waiting for months to receive state benefits he claims he is entitled to....
Landlords view to be heard at influential policy forum
Propertymark’s head of policy and campaigns, Timothy Douglas, will explain how investment in the private rented sector can be better incentivised when he speaks at the Westminster Social Policy Forum this week.The forum will bring together MPs and senior government...
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Landlord MPs leave Gove’s rental reform bill ‘close to collapse’
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