Housing market to become 'preserve of the rich' as home ownership predicted to slump to 63%

A generation could be shut out of the ‘dysfunctional’ housing market over the next decade because of higher prices and miserly mortgage-lending, a report warns.

Home ownership in England will fall to 63.8 per cent in 2021, according to the National Housing Federation – the lowest level since the mid-Eighties.

The grim forecast predicts that many will be unable to get on the property ladder because rising rents make it even harder to save for the large deposits banks now demand.

Click here to read the whole story Housing market to become 'preserve of the rich' as home ownership predicted to slump to 63%

Credit where it's due: Universal Credit, social landlords and direct payments

It threatens to create a sharp spike in rent arrears and lead to interest hikes on bank loans, but the Government remains committed to paying the new Universal Credit direct to social tenants, not landlords.

But as we stand on the cusp of the biggest shake-up to the welfare state since Beveridge, a forum staged by the G15 group of housing associations, attended by Government welfare officials and chaired by 24housing magazine, reveals that amid reform and risk lies reward and opportunity. Ross Macmillan reports.

“It’s expected that the great majority of social tenants in receipt of Universal Credit will have their benefit paid to them rather than to their landlord.”

Click here to read the full article Credit where it's due: Universal Credit, social landlords and direct payments

Rents rise for sixth consecutive month

Rents rose for the sixth consecutive month in July, increasing by 0.6% to £705 per calender month and marking a new record high.

It means that the average rent is now £29 higher per month than in July 2010. Nevertheless, the level of late of unpaid rents fell slightly from 9.3% to 9%, according to the latest Buy-to-Let Index from LSL Property Services.

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Welcome to the residential landlord insurance policy jungle

The property insurance sector is a complicated minefield packed with a myriad of policies, each offering a range of prices, terms and conditions. Here, Robert Graver explains the basics.

It is important when considering residential landlord insurance to ensure you are offering a product that is tailored to this specific market sector and not a standard private household policy.

A private house policy is not arranged with any business risks in mind and will therefore lack elements of cover that are essential for a property owners’ protection.

Click here to read the full article Welcome to the residential landlord insurance policy jungle

To help landlords choose and purchase the most appropriate insurance cover at the best possible prices we work with Towergate Risk Solutions, part of the Towergate Partnership, Europe's largest independent insurance brokers. Click here for Insurance through NetRent.co.uk.

Private landlords fear potential increase in rates

The Bank of England’s Monetary Policy Committee may have kept interest base rates on hold at 0.5% in July, but 31% of private landlords surveyed agree or strongly agree that they are worried about their ability to repay should BTL mortgage rates begin to rise.

The BDRC Continental research reveals that BTL mortgage interest rate rises will present a financial challenge to many private landlords. Almost three quarters of private landlords (73%) have at least one mortgage on their rental property and almost half (47%) have at least five BTL mortgages held against their portfolio.

Click here to read the full story Private landlords fear potential increase in rates

Private landlords 'to stop offering Local Housing Allowance tenancies' due to payments cap

Private landlords are to stop offering Local Housing Allowance (LHA) tenancies as a direct result of the Government's cap on payments, according to research published today.

The latest findings from BDRC Continental’s Landlords Panel research reveals that 15% of private landlords say they will stop offering LHA tenancies altogether.

The research indicates that changes to LHA payments - which have been applied since 1 April 2011 - will have a significant impact upon private landlords operating in the sector.

Click here to read the full article Private landlords 'to stop offering Local Housing Allowance tenancies' due to payments cap

Buy-to-let landlords: behind the bad image

According to most things that I read in Guardian Money, I'm one of the evil property-owning elite. As a buy-to-let landlord, I'm automatically lumped in with notoriously bad landlords, living in luxury while my tenants pay extortionate rents to live in slums. Tenants tell of their stories of despair at the hands of people like me, while I'm blamed for, well, pretty much everything.

So I'm here to tell the other side of the tale – what being a landlord is actually like. For starters, many landlords aren't rich.

Click here to read the full article Buy-to-let landlords: behind the bad image

Human Rights Warning Over Satellite TV for Tenants

Landlords who say no to tenants who want to install satellite TV or broadband could infringe their human rights.

Following a landmark ruling in the European Court of Human Rights, a family in Sweden won the right to add a satellite TV dish to their rented home after the landlord declined permission.

The landlord was also ordered to pay the tenants £12,280 compensation.

Click here to read the full story Human Rights Warning Over Satellite TV for Tenants

House of Horrors - One Landlord's Story

A landlord has been describing his 'year from Hell' while a tenant wrecked his property over a six month period as he was powerless to remove them.

Click here to watch the video House of Horrors - One Landlord's Story

NetRent Comment

Watching this video will worry every landlord because it can happen at any time. The one crumb of comfort is the comments from the police officer at the end. It will be interesting to see whether or not they prosecute the tenant.

Meanwhile, NetRent extends it's sympathy to Mr Schofield as he starts to repair his property.

Don't forget to visit and support our Facebook campaign The Damage That Some Tenants Do.

Tenant used landlord’s credit card in £10k fraud

A tenant stole his landlord’s credit card and racked up more than £10,000 in debt in a “galling” and “disturbing” fraud, a judge said.

Landlord Paul Hardiment only discovered that Michael Wild had been using a Barclays bank card in his name while he was undergoing a York County Court order to obtain months of unpaid rent from his tenant.

Click here to read the full story Tenant used landlord’s credit card in £10k fraud