Boris Johnson – Good or Bad for Property Investors?

August 11th, 2019 by Guest Post

With the leadership contest over Boris Johnson, who was the clear favourite throughout, has been installed as Conservative leader and Prime Minister. He has long had strong views on the housing market, but what do these views mean for the private rental sector? Here we examine the good and the bad. Private Rental Sector for Tenants Johnson has strong views on the PRS, from both the landlord’s and the tenant’s perspective. For tenants, while London Mayor, he promised a blue badge ‘kitemark’ for landlords and rental homes introduced the London Rental Standard. The London Rental Standard aimed to promote good standards within the rental market. Open to both landlords and agents, it allowed those who signed up to use the LRS badge, which is recognisable across London as a mark for quality. However, both initiatives were largely voluntary and, as... [Read More]

Is Buy-To-Let Dead? John Charcol Responds

August 7th, 2019 by Ruban Selvanayagam

Nick Morrey, Mortgage Technical Manager from John Charcol, answers your questions on the buy-to-let market: Now that the effects of the stamp duty surcharge, Section 24 and PRA regulated have percolated into the marketplace, how would you say the Buy-to-let lending space has responded? Buy-to-let investors have responded in various ways. Landlords who only want up to three Buy-to-lets are either selling up (especially with the phased withdrawal of the mortgage interest relief on income tax) or just holding on to what they have got – they are not really increasing their portfolios at all. Those that are a professional landlord initially stopped purchasing property from May 2016 (when the additional stamp duty came in) and then there was very little activity for about a whole year. Now they have been getting specialist tax advice as buying in a Limited Company... [Read More]

Property Investor’s FactFile – August 2019

August 2nd, 2019 by Ruban Selvanayagam

• According to the latest Gov.UK House Price Index, average house prices saw an annual price rise of 1.2% (to April 2019); • The latest Hometrack UK Cities House Price Index reported the highest level of year-on-year growth in Edinburgh (5.1%) followed by Liverpool (4.9%), Cardiff (4.7%), Nottingham (4.7%), Leicester (4.6%), Manchester (4.1%) and Birmingham (4.0%). According to the same data, London saw a 0% change in house prices and Cambridge saw a 0.3% drop; • HMRC data revealed that transaction levels fell by 16.5% between June 2018 and June 2019; • Despite the ongoing Brexit-led pessimism, the latest Royal Institute of Chartered Surveyors (RICS) report stated that there has been an increase in buyer enquiries after declines over the initial part of 2019. 12-month expectations are indicating growth in sales volumes and prices. [Read More]

Who’s Guilty of a Bed Bug Infestation in a Rental Property?

August 1st, 2019 by Guest Post

Whether you’re a tenant or a landlord, it’s always best to know your legal rights and obligations, especially if you have to deal with an infestation of bed bugs. This will not only lead to quick problem resolution, but it will also ensure the proper maintenance of the rented property. Bed bugs can be easily mistaken for other types of vermin and their bite marks are often disregarded as a skin rash. More often than not, it takes a technician’s expertise to identify them and apply the appropriate bed bug treatment. But who is responsible for pest control – landlord or a tenant? And who pays for pest control in a rental property? Depending on the circumstances, both parties can be liable to pay for the extermination. Is It a Landlord’s Responsibility to Control Pests? According to the Prevention of... [Read More]