Monday 31 January 2011

Tenants to be hit with billion pound rent hike

Times are going to get harder for tenants this year with almost half of UK landlords planning to hike the rent on their properties, according to new research.

Almost 2 million households look set to be affected, with the increases adding about £550 to their annual housing costs. Collectively, British tenants could end up paying as much as £1.1 billion more over the course of 2011.

The news will come as a bitter blow to tenants already struggling with rising inflation and the extra expense of the VAT hike. It will also make life that much harder for those trying to save up a deposit to allow them to leave rental housing and get on to the property ladder.

Click here to read the full story Tenants to be hit with billion pound rent hike

NetRent Comment

Adding an extra £550 a year to a rent equates to an increase of just short of £46 per month. We do not believe that most landlords will achieve rent increases as big as this during 2011. However, if interest rates start to rise landlords may be forced to increase their rent.

Demand for rented property is increasing and tenants may find that they are forced into paying higher rents to secure the property they want.

Sunday 30 January 2011

Return of negative equity loans after house prices dive

The slump in house prices has meant the return of negative equity mortgages for the first time in 18 years.

More than three million customers of major lenders like Halifax, Lloyds and Cheltenham and Gloucester will from February get the chance to move house even if they are trapped in negative ­equity.

The last time this type of mortgage was offered was during the 1993 housing market ­recession when 1.5 million lived in homes worth less than their mortgage.

Click here to read the full story Return of negative equity loans after house prices dive


NetRent Comment

House price dive is too strong a phrase and does not reflect the reality for most of the UK. If the lenders actually started to lend on reasonable terms we believe that there would be little or no need for negative equity loans. We predict that very few of the loans will actually be sold and it does beg the question why are these loans being offered now?

There has been no widespread and serious drop in UK house prices, but there has been a widespread and serious drop in lenders actually lending. Given the fact that the banks were bailed out by us, the UK taxpayers, why is it that they will not lend to us? Perhaps these banks should lend the billions they paid out in bonuses to first time buyers?

Saturday 29 January 2011

Home rental costs 'will keep climbing'

The cost of renting a home in Scotland will continue to rise as property sales slump and the supply of rental accommodation shrinks, a report out today warns.


The average monthly rent in Scotland was 2.2 per cent higher in the final quarter of last year than in the same period in 2009, despite a drop-off compared with the previous three months, the latest Citylets figures show.

And with Scottish house prices still falling, rents are likely to continue going in the opposite direction, said the property listings website.

Click here for the full article Home rental costs 'will keep climbing'

NetRent Comment

Although the Citylets report is specific to Scotland it is likely that similar trends will be repeated throughout England and Wales.Until and unless banks and building societies start lending again the situation is only going to get worse.

Friday 28 January 2011

Struggling property market creating 'accidental' landlords

The lettings market has been given a boost as more homeowners are forced to rent their properties because they cannot find a buyer.

Agents have predicted an increasing number of these "reluctant" and "accidental" landlords who find themselves taking on tenants for the first time during 2011.

Recent research suggests that one in three homeowners are now considering renting as an option.

Click here to read the whole article Struggling property market creating 'accidental' landlords




NetRent Comment

Although this article concentrates on the local Kent market there is evidence that this is happening all over the UK as homeowners refuse to sell at lower prices. In our opinion this can create real problems for the accidental landlord and the prospective tenant.

Many accidental landlords do not realise that there are over 70 pieces of legislation which affect landlords and in too many cases do not deal with essentials like gas safety checks, EPCs and deposits correctly. This leaves them vulnerable as landlords and more importantly exposes tenants to potential physical and financial risk.

We would strongly urge anyone considering becoming a landlord to seek as much information as possible and only when they have fully assessed their individual situation should they seek to rent their property out.

More information can be found in our Landlord Resource Centre, please click here The Landlord Resource Centre.

Local Authorities can also be an invaluable source of information, click here Working with Local Authorities.

Thursday 27 January 2011

Google bins its property maps search

Google Maps is to drop property, less than two years after the launch that threatened to change the entire property portal market.

The search engine giant had offered the service for free but blamed low usage.

In a totally unexpected move, which this morning its own press office did not know about when we asked them for a comment, Google announced that the property search feature will be dropped in all the countries where it operates, including the UK, on February 10.

In a low-key blog, Google vice president Brian McClendon announced its experiment is over, saying: “One of our key philosophies is to take risks and to experiment. To that end, in July 2009 we announced the ability to find property for sale or rent directly on Google Maps.

Click here for the full article Google bins its property maps search

NetRent Comment

This is certainly a surprise move by Google and affects all their property pages across the world, not just in the UK. We believe that one of the reasons Google Property failed in the UK was the difficulty of actually finding the service on their website.

There are still websites that offer free advertising of residential rental property, including NetRent.co.uk. We have always been free for landlords, agents and tenants and we will remain free. To advertise on NetRent.co.uk please click here Free Advertising on NetRent.co.uk.

To find a property to rent please click here NetRent Property Search.

Landlords who want the widest possible exposure can also use our Find a Tenant service provided by our business partners Rent on Time. This service will advertise your property to rent on all the major property websites and over 200 other property websites. Find a Tenant costs just £45 per property. Click here for full information Find a Tenant or ring us now on 01352 721300.

Wednesday 26 January 2011

Barratt Group unveils major buy-to-let initiative

With property investors returning to the market in significant numbers for the first time in four years, the Barratt Group, including its major housebuilding brands Barratt Homes, David Wilson Homes and Ward Homes, has launched a major initiative to sell show homes at many of its developments to buy-to-let investors.

"We have not seen this level of demand from investor buyers outside of London since the downturn of 2007," says Gary Ennis, Regional Managing Director for Barratt Southern. "That is why we are today unveiling a deal called Showhome Lease Back, which comes with a guaranteed yield of seven per cent.

"Buyers have the opportunity to buy the Showhome at selected developments in the region and then immediately lease it back to us for up to five years to use as a marketing suite. Rather than have to worry about untidy tenants, the investor knows that we will maintain the property in pristine condition."

Click here to read the whole article Barratt Group unveils major buy-to-let initiative

Tuesday 25 January 2011

Scottish Government Launches Deposit Scheme To Protect Tenants' Money

The Scottish Government has launched a tenancy deposit scheme, like England, to protect tenants' from landlord and letting agencies wrongfully witholding their deposits following the end of tenancy.

According to Scottish government estimates between 8,000 and 11,000 people have their deposits wrongly withheld in Scotland which amount to about £3.6 Million each year. This move by the Scottish Government is expected to have support from other parties in Holyrood and make it to the statute books by March.

"For some time there has been a rising chorus of disapproval about unfairly withheld tenancy deposits. This Government is taking action to ensure tenants receive a better deal," said Alex Neil, Scotland's Housing Minister. ""The majority of landlords behave responsibly and so it is important that we tackle those landlords who continue to tarnish the image of the private rented sector."

Click here to read more Scottish Government Launches Deposit Scheme To Protect Tenants' Money



NetRent Comment

Whilst we believe that it is everyone's interests that deposits are handled correctly, the evidence from the similar scheme in England and Wales is that the tenant deposit scheme is disliked by landlords and tenants equally. It is the typical sledgehammer to crack a nut.

In our opinion the Scottish Government has missed an opportunity to introduce an innovative scheme that would actually benefit landlords and tenants. The tenant deposit schemes in England and Wales has not benefited the letting industry and equally penalises both landlords and tenants. Simply copying a bad idea will not somehow make it a good idea.

Click here for more information about deposit schemes Deposits and Tenancy Deposit Schemes

How to avoid being ripped off as a tenant

According to the British Property Federation, rents fell in December for the first time in 11 months. Prices fell fastest in Wales (down 2.6%) whilst London saw a drop of 2.3%, and the West Midlands of 2.2%.

This is obviously good news for potential tenants; but unfortunately, there are still plenty of financial pitfalls to be aware of. Here are three ways you can avoid being ripped off when you rent a property...

Click here to read the full article How to avoid being ripped off as a tenant




NetRent Comment

Whilst most landlords and agents are honest there are a minority who give the majority a bad name. Prospective tenants need to understand that they are entering into a legally binding agreement when they rent a home. Our advice is to always take your time and completely understand the commitment you are making.

We have a wealth of advice available in our Landlord Resource Centre. Further help can be obtained from your local council, Citizens Advice Bureau and Shelter.

Click here to visit the Landlords Resource Centre

Monday 24 January 2011

EPC law flouted by one third of agents

Thirty per cent of agents are not bothering to get an EPC at all, and a further 70% are not uploading the EPC details when they get them.

The Property and Energy Professionals Association (PEPA), which makes the claims, says agents are routinely ignoring their legal duty to provide EPCs.

Currently, the law requires agents to have ordered an EPC by the time a property goes on the market, and to have uploaded the details within 28 days.

But PEPA says that disobedience is so high, the regulations so poorly drafted and enforcement so feeble that the situation should be clarified, by requiring the EPC to be made available as soon as the property is listed for sale or rent.

Read the full story by clicking here EPC law flouted by one third of agents


Comment

It is not just agents who are flouting the law, far too many landlords fail to provide EPCs as required. One landlord told us recently that she "did not believe in EPCs", whatever that meant.

What landlords often fail to realise is that in addition to fines they could also be prevented from removing tenants from their property simply because they have failed to comply with the law.

For more information about EPCs please click here Energy Performance Certificates

To arrange an EPC please click here EPC providers

Saturday 22 January 2011

Rents fall for the first time in 11 months

Rents fell for the first time in 11 months in December, with the Christmas period coinciding with a surge in people struggling to pay their landlords.

The average UK rent fell by 1.6% to £684 - the lowest average since July 2010, figures from LSL Property Services show.

Despite the fall, the cost of renting is still well up on the same point 12 months previously, with average rents rising by 3.8% between December 2009 and December 2010.

The most marked fall was seen in Wales, where rents fell by 2.6%, while average rents in the south east and London declined by 2.5% and 2.3% respectively.

Not all areas saw declines, however, as there were increases of 2.2% and 1.7% respectively in the west midlands and south west.

Click here for the full story Rents fall for the first time in 11 months
 
 
Comment
 
We believe that this fall will prove to be a temporary blip in the general trend of rising rents. Landlords should be more worried by the sharp rise in rent arrears which is likely to increase over the coming months as the impacts of the recession continue.
 
It seems clear that Landlords with tenants on Housing Benefit are finding that as tenants struggle financially many tenants chose to spend LHA rather than pay their rent. Increasing financial pressures on working tenants are bound to see more tenants either late with their rent, or not paying their rent at all. This problem is likely to increase as the number of redundancies rises.
 
Landlords need to take every precaution to ensure that their rents are paid on time and in full. One solution is Rent on Time which guarantees that your rent will be paid on time every month, whether the tenant pays or not. Click here for more information Rent on Time

Friday 21 January 2011

Deposits hit 40-year high as 100,000 first-time buyers kept off property ladder

At least 100,000 first-time buyers who have no help from the ‘bank of mum and dad’ were unable to enter the housing market last year, as the number of low deposit mortgages slumped to a record low.

In 2009 there were only 28,000 loans to first-time buyers at 90 per cent or more - where buyers had to find a 10 per cent deposit or less - down from 245,000 in 2006. And numbers of younger first-time buyers able to buy a home without help with a deposit fell by 100,000 per year between 2006 and 2009.

Click here to read the full story Deposits hit 40-year high as 100,000 first-time buyers kept off property ladder


The continuing problems for first time buyers is helping to fuel increasing demand for private rented property throughout the UK. In some parts of the country landlords and agents are now operating a 'sealed bid' approach to letting property, where prospective tenants have to compete with each other to rent a property.

However, there are now record levels of unpaid rent which is running at 11.7%. So, whilst landlords may benefit from increasing demand there is also increasing risk.

Thursday 20 January 2011

Two landlords fined thousands after failing to get a licence

Two private landlords in Manchester have been hit with charges of thousands of pounds apiece for failing to obtain a licence to rent out property.

Brian Rafter of Beetham Tower, Deansgate, was found guilty in his absence and fined £1,500, told to pay costs of £1,432 and £15 victims of crime surcharge at a hearing at Manchester Magistrates Court on 12 January.

At a separate hearing on the same day Mohammed Asher of Lancaster Road, Salford, was charged in his absence to pay a £750 fine, £1,432 in costs and £15 victims of crime surcharge.

Click here to read the full story Two landlords fined thousands after failing to get a licence


Across the country too many landlords fail to obtain the correct licences or seem to believe that the law does not apply to them. Many Local Authorities have nor brought successful prosecutions against landlords which have resulted in fines as large as £40,000.

Although over 70 pieces of legislation apply to private letting in the UK there are many different ways that landlords and tenants can check on their respective rights and responsibilities. NetRent.co.uk has a huge on-line resource centre which explains in detail what landlords and tenants need to be aware of, please click here The Landlord Resource Centre.

You can also get information and contact details for your Local Authority by clicking here Working with Local Authorities.

Tenant who stole landlord's ID nearly pulls off £800,000 fraud

A London estate agent has sent out a fraud alert after a ‘tenant’ almost got away with selling one of the firm's rental properties for £800,000.

Disaster was averted at the eleventh hour. Contracts had already been exchanged. The purchaser realised he was not dealing with the real owner, and called in police.

The scam began when the agent dealt with a woman who wanted to rent the property. She said she was married with a child, and had a husband working in Dubai.

The property she targeted is let out on behalf of a landlord who is currently abroad. The house in Fulham had no mortgage on it. Most unusually, the tenant asked for details of the landlord, which he supplied.

She passed independent tenancy checks – the agent is now looking at these procedures – and produced an apparently valid passport. She took possession of the property on the day her tenancy commenced and keys were handed over to her.

Click here to read the full story Tenant who stole landlord's ID nearly pulls off £800,000 fraud


This amazing story clearly highlights the need for all landlords and agents to be absolutely sure about the identity and integrity of a prospective tenant before handing over the keys.

You can credit check tenants using our Tenant Referencing service provided by Experian, the world's leading credit referencing agency. Click here for more information Tenant Referencing through NetRent.co.uk.

In addition you can remove the worry about getting you rent paid. Rent on Time will guarantee your rent is paid on time, every month whether the tenant pays or not. This service also includes credit checking, setting up the tenancy correctly and should the tenant stop paying you will receive your rent every month and Rent on Time will take legal action against the tenant - all at no extra cost to you. For more information please click here Rent on Time.

Wednesday 19 January 2011

Landlords: What to do if your tenant won’t pay!

If your tenant can’t or won’t pay their rent, here’s what to do to get your money and your property back.

There is some cause for optimism for landlords this year. Demand for rental properties continues to grow, with many landlords looking to expand their portfolios and increase their rents.

However, it’s not all rosy, as the issue of rent arrears is once again rearing its ugly head.

You can read the full article here Landlords: What to do if your tenant won’t pay!


NetRent.co.uk has a wide range of support and help for Landlords. Our Landlord Resource Centre is the UK's largest free on-line source of help and advice for landlords, click here for more information The Landlord Resource Centre

Rent on Time through NetRent.co.uk ensures that Landlords receive their rent, on time, every month whether the tenant pays or not. Click here to find out more about this unique service Rent on Time.

We advise all Landlords to thoroughly credit check every tenant. Our business partners are Experian, the world's leading credit reference agency. For more information about this service please click here Tenant Referencing.

If you need help and advice we have a range of options for you to choose from. Free telephone help and advice is available through our business partners Pebble, click here for more information Help and Advice.

In addition we have a range of specialist firms and solicitors who are experts in Landlord and Tenant Law. Click here for Tenant Issues and here for a list of Solicitors throughout the UK.

If you need any further assistance please contact NetRent.co.uk on 01352 721300 or email us at enquiries@netrent.co.uk or use our online page Contact NetRent.co.uk and we will be pleased to help.

Tuesday 18 January 2011

Rent Going Up? What are Your Rights?

Being told that your rent is going up can be a real sucker punch, especially if you’re already living to a tight budget. But are you really left with no choice but to accept if your landlord ups the price?

With thousands struggling to get on the property ladder there’s greater demand for rental homes. As a result private rents are creeping up.

But where do you stand if your landlord wants to put up your rent?

Click here to read the in-depth article Rent Going Up? What are Your Rights?

Landmark decision awaited over blanket HMO licensing

A group of letting agents and landlords in Oxford are awaiting a decision due to be made this week about compulsory licensing of all HMOs in Oxford.

Oxford is set to be the first authority to take advantage of the last Government’s blanket consent to bring in ‘additional’ HMO licensing schemes.

The council had originally proposed to make licensing of all HMOs compulsory throughout the city but to issue the licences in prolonged stages, starting this month. It had decided to go down this route due to lack of staff resources.

Read the full story here Landmark decision awaited over blanket HMO licensing

Monday 17 January 2011

Banks write off debt for landlords

Several of the UK and Irish banks that received government bail-outs are offering to write off up to 25 per cent of a mortgage debt for professional landlords and developers – just to encourage them to move to new lenders.

Anglo Irish Bank – the institution at the centre of Ireland’s property meltdown and the recipient of €30bn of government money – is one of a number of lenders willing to let certain property owners off a proportion of their debt if they refinance elsewhere.

Brokers report that Bank of Scotland, part of Lloyds Banking Group, and Royal Bank of Scotland have arranged similar deals – often known as “golden goodbyes” – although Bank of Scotland says it is not “policy” to incentivize a remortgage with another bank.

Click here to read the full story Banks write off debt for landlords

Friday 14 January 2011

Will 'tenants from hell' end up in private rented sector?

Housing minister Grant Shapps is under fire after announcing a crackdown on ‘tenants from hell’ in social housing. Shapps has said that he will make it easier for anti-social tenants to be kicked out.

But the Residential Landlords Association said that as a result, private landlords could find themselves unknowingly taking on such nightmare tenants, without the power to check their tenant records and with no powers to take effective action against them.

Click here to read the full story Will 'tenants from hell' end up in private rented sector?

NetRent strongly advise that all Landlords conduct a thorough reference check on all new tenants. This can be done on-line through our business partners Experian, the leading credit reference agency.

Click here for full information The NetRent.co.uk Check My Tenant Service provided by Experian

Thursday 13 January 2011

More tenants 'struggling to pay rent', says ARLA

The cost of renting a home has risen over the last year, according to surveys. A rising number of tenants are struggling to pay rent to their landlords, according to industry data.

Some 40% of landlords reported a rise in tenants having difficulty paying during the previous six months, the Association of Residential Lettings Agents (ARLA) poll found.

Three months earlier, only 35.9% of landlords reported problems. This is the first such rise in 18 months. Landlords also said more tenants were haggling over rent levels.

However, ARLA said tenants in London were less likely to have difficulties paying, even though other industry surveys had suggested that rents were rising faster in London than the rest of the UK.
ARLA said that job losses and pay cuts were the key reasons for tenants struggling to make their monthly payments.

"At the beginning of last year, we predicted that the number of tenants having difficulties paying rent would increase and unfortunately, this seems to be the case," said Ian Potter, Operations Manager at ARLA. The poll, which surveyed 554 letting agents, was conducted during the final three months of 2010.

Click here to read the article More tenants 'struggling to pay rent', says ARLA


NetRent.co.uk introduce the innovative “Rent on Time” service

At NetRent.co.uk we are always looking for the best business partners and with Rent on Time Ltd we can now offer their innovative rent collection service in which they guarantee to pay landlords their rent even if the tenant fails to pay or defaults!

There is no claims process, no excess to pay and no deferred waiting period… landlords simply receive their rent on time, every time. They also provide FREE Legal Expenses cover to deal with any disputes and evictions, therefore there is no need for the landlord to pay vast amounts of money on legal fees and court costs if the worst comes to the worst.

This (and much more) comes at a cost of just 6% (+VAT) of the Rental payment.

To find out more and to secure 100% guaranteed rental cash flow please contact NetRent on 01352 721300 or e-mail enquiries@netrent.co.uk and we will arrange for one of the Rent on Time Client Relations Team to contact you to discuss this amazing service in more detail.

For full information about Rent on Time please click here Rent on Time

Top tips for landlords to attract rising rents

It needs to be a considered process and you need to understand what it entails before jumping in. Becoming a landlord is not as easy as putting your money in the bank – after all, your bank manager won't ring you in the middle of the night asking you to fix the boiler – so you need to be prepared for hassle and hard work.

That said, the rental yields can be worth it, particularly if you pick the right area. Knight Frank reported this week that student property could be particularly lucrative, with total returns hitting an average of 13.5pc. However, the national average, according to LSL Property Services, is a more prosaic 4.5pc, which you may not consider worth the stress.

Read the full story by clicking here Top tips for landlords to attract rising rents

Tuesday 11 January 2011

New incentives to tackle the blight of empty homes

Communities Minister Andrew Stunell has set out how local people can bring back into use empty homes that attract anti-social behaviour and cause misery for neighbours.

The Government is offering powerful new incentives for councils to get empty homes lived in again, matching the council tax raised for every empty property brought back into use - which can be spent as they wish. Mr Stunell urged local communities to work with their council to identify where empty homes are blighting the neighbourhood, and start benefiting from extra cash that can be used to improve the local area.

There are around 300,000 long term empty properties across England. They can easily fall into disrepair, attracting squatters, vandalism and anti-social behaviour, bringing down the neighbourhood. So Mr Stunell is calling on residents to come forward and point out these properties to their local council so action can be taken to tackle the problem.

To read the full article please click here New incentives to tackle the blight of empty homes

Click here to Find Your Local Council

'Fast-track' eviction plan for anti-social tenants

The government wants to speed up the time it takes to evict tenants engaging in serious anti-social behaviour.

Ministers say it can take more than a year to remove so-called "neighbours from hell" during which time they can make life a misery for others.

Those found guilty of a housing-related offence in England could be liable for automatic eviction in future.

Click here to read the full story 'Fast-track' eviction plan for anti-social tenants

Monday 10 January 2011

House prices down by 1.6% in 2010

House prices fell by 1.3% in December, contributing to a 1.6% decline over the whole of last year, according to figures released by the Halifax this morning.

However, the lender pointed out that the quarterly price change (lenders' preferred measure because it smoothes out monthly volatility) from October to December dropped just 0.9% compared to the previous quarter. Martin Ellis, housing economist for the Halifax, said the quarterly rate of decline was "significantly less than the quarterly falls of 5%-6% during the second half of 2008".

Click here to read the full article House prices down by 1.6% in 2010

Friday 7 January 2011

Grant Shapps: Build your new year's resolution with bricks and mortar

Housing Minister Grant Shapps today called on the country's aspiring self-builders to make a housebuilding revolution their New Year's resolution.

Self-builders are already Britain's largest housebuilder, and account for one-fifth of Britain's new homes each year, but for far too long the aspirations of ordinary people to build their own home have been thwarted by barriers and red tape.

These obstacles have led to the UK having one of the lowest proportions of new homes built by self-builders in Europe - so Mr Shapps has pledged to end self-building as the preserve of the privileged few, and enable aspiring self-builders to put building their own home at the top of their New Year's resolutions.

Property websites announce huge increases in enquiries

Zoopla has revealed a 251% surge in property enquiry levels compared with this time last year. Zoopla’s search results are being echoed by Rightmove, which yesterday revealed that its iPhone App has hit one million downloads since launching in August.

Read the article here Property websites announce huge increases in enquiries

The traditional January surge in enquiries seems to have got off to an excellent start and more and more house hunters are using the internet to search for property. Just 10 years ago less than 25% of house hunters (both buyers and renters) used the internet to search for property, now around 97% use the internet.

Landlords who want to advertise their property to the widest possible audience can take advantage of our Find a Tenant service. This service, run by our business partners Rent on Time, will advertise your rental property on over 200 websites including Rightmove, Zoopla, FindaProperty, Fish4Homes, Google and Prime Location - all for just £45 per advert.

For more information please click here Find a Tenant

Please remember that Landlords and Letting Agents can advertise free of charge on NetRent.co.uk, this services is also completely free for tenants.

If you would like to advertise your property to rent free of charge simply click here Free Advertising on NetRent.co.uk

Thursday 6 January 2011

Mortgage demand dip predicted by lenders

Demand for home loans is expected to fall in the coming months as the mortgage market continues to stagnate.

Lenders believe that demand for mortgages for house purchases will drop in the first three months of 2011 as people delay decisions to move.

The views are reported in the Bank of England's Credit Conditions Survey, with lenders also expecting the recent jump in remortgaging demand to stall.

Read the article here Mortgage demand dip predicted by lenders

Click here to read the full report The Bank of England's Credit Conditions Survey

More than 2 million people have paid their mortgage by credit card

More than two million people have used credit cards to pay their mortgage or rent, an increase of almost 50 per cent in a year, Shelter research reveals today.

The YouGov poll in August 2010 asked 2234 people in Great Britain if they had borrowed money on their credit card to pay their rent or mortgage in the last 12 months. Six per cent of respondents said yes, compared to just four per cent in November 2009, suggesting a national figure of over two million people.

Click here to read the full story More than 2 million people have paid their mortgage by credit card

Wednesday 5 January 2011

Landlords say rents to rise in 2011

Some 41 per cent of landlords in the private rented sector plan to increase the rent they charge tenants during the next 12 months.

This is on the back of strong levels of tenant demand, research from The Paragon Group has revealed.

The buy-to-let mortgage specialist's data showed 55 per cent of landlords plan to keep rents at 2010 levels and four per cent landlords will reduce the rent they charge.

Nearly a third of landlords plan to increase rents by up to four per cent of the current value, with ten per cent aiming to increase the rent they charge tenants by between four and eight per cent.

Click here to read the full story Landlords say rents to rise in 2011

Tuesday 4 January 2011

Mortgage approvals in slight rise, says Bank of England

Approvals for home loans - notably for people remortgaging their properties - picked up slightly in November, Bank of England figures show.

The number of mortgages approved for house purchases stood at 48,019 in November, a marginal rise on the previous month.

Read the full story by clicking here Mortgage approvals in slight rise, says Bank of England

Monday 3 January 2011

Minister: I’ll stop housing boom for good


Britains's property boom could be over for good, the housing minister said last night – as experts warned prices could fall by 6% this year.

Grant Shapps said homeowners should no longer rely on their houses to fund their retirement.

He said ministers were hoping to engineer an era of 'house price stability' in which property values would gradually be eroded by rising earnings.

Read the full story by clicking this link Minister: I’ll stop housing boom for good

Britain's most expensive streets revealed


House prices across the UK rose by 0.4% in December, giving a typical property a value of just under £163,000, according to the latest statistics from Nationwide.

However, new research from Lloyds TSB reveals that Parkside in Merton near Wimbledon is the nation's most expensive residential street with the average house going for an incredible £5,058,000.

Click here to read the full article Britain's most expensive streets revealed

Sunday 2 January 2011

Home insurance is now the number 1 target for insurance fraudsters


Home insurance is now the number one target for insurance fraudsters according to the hundreds of fraudulent insurance claims exposed every day says the ABI.

The ABI’s latest industry data on fraudulent insurance claims shows that:

• Every day insurers detect 335 fraudulent insurance claims worth £2.3 million.
• Dishonest home insurance claims are the most common: 170 cheating householders are caught out each day. Typically these involve alleged accidental damage to carpets and furniture due to spilled drink, which were in fact caused deliberately.
• Fraudulent motor claims are the most costly: 108 bogus motor insurance claims worth £1.12 million are exposed each day.

Click here to read the full story Home insurance is now the number 1 target for insurance fraudsters