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The Co-operative Bank’s intermediary mortgage lender, Platform, has announced plans to increase its buy to let lending by 33%, to provide £600m of buy to let loans in 2012. Platform saw strong growth in 2011, with the demand for private rented accommodation continuing to outstrip supply, and investment in the sector increasing. “Our commitment to… Continue Reading
Category Archives: News
Elderly Downsizing Could Reduce the Housing Shortage
Housing minister, Grant Shapps, has put forward proposals that would see councils helping elderly people to move to smaller, more manageable accommodation and their houses rented to families. The council would arrange and manage the rental, with the income going directly to the elderly person. They would then pay the rent for their smaller property,… Continue Reading
Subletting your council house could see you re-housed at her majesty’s pleasure
Under government proposals, council tenants in England who are convicted of sub-letting their homes, could face up to two years in prison. The new criminal offence of tenancy fraud could also incur a fine of up to £50,000. Sub-letting a council property is not currently a criminal offence, and official estimates are that around 160,000… Continue Reading
Buy To Let Yields for 2011
“Vanilla” buy to let mortgages had a good year in 2011, exceeding the expectations of the CML. Buy to let figures for 2011 Q1 Q2 Q3 Q4 Average loan size £116,238 £126,522 £144,006 £126,240 Average property size £175,819 £187,708 £224,639 £198,529 Average loan to value 66% 67% 68% 65% Average yield 5.6% 5.8% 6.3% 6.13% Continue Reading
Buy To Lets Boom in 2011
At the start of last year, the council of mortgage lenders predicted that buy to let mortgage lending would reach £11 billion in 2011. In actual fact, the figure was closer to £13 billion, nearly 10% of the overall mortgage lending market. There are many reasons why the buy to let market continues to flourish,… Continue Reading
Gas Safety: Make Sure You Are Compliant
As a landlord, you must make sure that any pipe work, appliances and flues that you provide for tenants are maintained in a safe condition. You must have a gas safety check every 12 months. This must be carried out by a Gas Safe registered engineer, who will then issue a gas safety certificate, which… Continue Reading
Rent Your House for the Olympics
Many homeowners are planning on cashing in on the 2012 Olympics, by renting out their homes for the period. A four bedroom house in Muswell Hill is currently on offer for £3,500 per week during the Olympics. With this sort of cash incentive, it is easy to see the appeal. However, making a quick buck… Continue Reading
London is 2nd Most Expensive City to Rent Property
If you thought it was expensive to rent in London, you’d be right, according to the Global Property Guide. Based on the average size of apartment, at 120 sq m (1291 sq ft), in a prime inner city area, Monaco gets the number one spot, at £5931 per month. Our very own London is close… Continue Reading
Accelerated Possessions
There has been a 22% increase in section 21 notices issued this year compared to last year. This is thought to be due to landlords wanting to bring in new tenants who are prepared to pay higher rents. With demand outstripping supply by 5/1 in some places, it is no wonder that rents have been… Continue Reading
Still a Demand For Student Accommodation
High University fees and the economic downturn have led to fewer University applications for 2012. Some have speculated that this would be reflected in demand within the student accommodation sector. However, this is not the case, says Caroline Kavanagh, group lettings director of Townends estate agents, who has seen no evidence of a downturn in… Continue Reading