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The outcome of the General Election
Whilst Labour won a large majority of 64% of the seats, they achieved it with just 34% of the people who voted supporting Labour. And in their turn, only 60% of people bothered to vote, which means that (approx) 20% of the populous gave Labour...
New Housing Secretary appointed
Following the General Election, Angela Rayner has been appointed Levelling Up Secretary with responsibility for housing - a role she has in addition to being Deputy Prime Minister. There is no news yet on who the housing minister will be - a key...
Bank of England Monthly Statistics: May Overview
The Bank of England’s monthly statistics for May provide detailed insights into the trends and developments in borrowing and deposits by households and businesses. These statistics are crucial for understanding the broader economic conditions in...
Labour’s Potential Housing Policy Announcements
If Labour wins the upcoming General Election, there are anticipated to be three major housing policy announcements within a fortnight, according to the Sunday Times, which recently endorsed Labour. 1. National Planning Policy Framework (NPPF)...
Lettings Agency Concerns Over Labour’s Renters Reform Bill Plans
A lettings agency, Leaders Romans Group (LRG), which broadly supports the Renters Reform Bill, has expressed concerns over Labour's intention to scrap Section 21 "on day one" of a Labour government. The national lettings director, Allison Thompson,...
Lloyds Banking Group CEO’s Warning on Interest Rates
Charlie Nunn, the CEO of Lloyds Banking Group, has provided a cautionary outlook on interest rates, suggesting that rates between 3.5% and 4.5% will become the new normal. He emphasized that the era of mortgage rates in the range of 1.5% to 2.5% is...
Labour Party’s Plans for Stamp Duty Exemption for First-Time Buyers
The Labour Party has announced that it will reduce the Stamp Duty exemption threshold for first-time buyers from £425,000 to £300,000 if it wins the upcoming General Election. This change reverses a policy introduced by the Conservative Government...
UK planning laws deter investment
Planning System Challenges Affecting UK Investment in Life Sciences In an interview with the BBC, Dave Ricks, CEO of Eli Lilly, the world's most valuable pharmaceutical company, highlighted significant issues with the UK's planning system that...
The Importance of Material Information When Advertising a Property to Let
Writing in Property118, Julie Ford has reminded landlords about the importance of getting adverts correct. The original can be seen here, and says: Ensuring Attractive and Compliant Property Listings for Landlords Creating an appealing and...
Shawbrook Bank Expands Lending Products for Landlords and Commercial Properties
Key Developments: MUFBs for First-Time Landlords: Expansion: Shawbrook Bank now allows first-time landlords to acquire Multi-Unit Freehold Blocks (MUFBs) up to six units. Objective: This move aims to support new market entrants in building diverse...
Labour wants to ban tenant bidding wars – it’s easier said than done though
The Conversation has published a piece outlining why they believe Labour will struggle to implement their policy of banning bidding wars. It can be seen here, and in summary: Policy Overview: Labour proposes to ban "bidding wars" in the private...
Kier Starmer on landlords
Kier Starmer had a heated interview with Nick Campbell on BBC Radio Live. You can listen to the exchange by clicking here and listening from 33:45, the key points of which are: Landlords and Rent Increases: Keir Starmer acknowledged that "not all...
Nationwide Property Index for June released
The Nationwide House Price Index released this morning has revealed that house prices grew by 0.2% month on month in June. Overall Market Trends: Annual Growth: UK house prices increased by 1.5% compared to June 2023. Monthly Growth: Prices rose by...
HMRC property transactions for May
HMRC has just released the property transactions for May. They can be seen here, and in summary: Residential Transactions: Seasonally Adjusted: May 2024 saw 91,290 transactions, a 17% increase from May 2023 and a 2% increase from April 2024,...
Survey shows most rental homes have a low EPC rating
Rightmove has highlighted a significant issue in the UK's housing stock, revealing that more than 18 million homes have an Energy Performance Certificate (EPC) rating of D or below. This represents over half (55%) of all homes in the UK. Key...
Landlords feeling more positive
The latest survey by Landbay reveals a shift in landlord sentiment, indicating a decrease in negativity about the prospects of their buy-to-let businesses and investments. According to the survey, 27% of landlords currently feel negative about...
Rents tend to rise more under Labour
The upcoming General Election has significant implications for the rental market and housing policies. Historical data indicates that rent prices tend to rise by an average of 1.96% in the 12 months following a General Election. This trend is more...
Survey Reveals Landlord and Tenant Voting Intentions and Dissatisfaction with Current Government
In a recent survey conducted by the lettings agency OpenRent, it was revealed that only 31.8% of landlords support the Conservative Party in the upcoming election, marking a significant shift from the traditionally strong backing the party has...
National Scandal: Council’s Electrical Safety Failures Demand Severe Penalty, Says Expert
A recent move by Southwark Council to refer itself to the Regulator of Social Housing (RSH) for failing to meet electrical safety standards should be viewed as a national scandal, according to private sector safety law expert Phil Turtle of...
Decision of large group to enter rental market criticized
The decision by Berkeley Group to enter the private rental sector by letting out 4,000 new homes across 17 regeneration sites in London and the South East has sparked significant concern among various experts and industry commentators. Critics...
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LATEST NEWS
Landlords Divided on Political Allegiances as General Election Nears
As the general election on 4th July approaches, a significant portion of landlords remain undecided about their vote,...
Landlords generate £45 billion
A report by PwC, commissioned by the National Residential Landlords Association (NRLA) and Paragon Bank, has...
Legal expert asks for end to Right to Rent checks
Tessa Shepperson has published a blog suggesting the English Government get rid of the Right to Rent checks on new...
Large fine for failing to licence a property
A couple who are portfolio landlords in the London borough of Haringey have been ordered to pay £10,000 after failing...
Most unaffordable council named
Barnet has been named the least affordable area of London to rent in, with tenants spending nearly half their...
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