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Monday, June 25, 2018

'Renting v selling' an inherited property

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BTL must be curbed - says Tory thinktank

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Sunday, June 24, 2018

Saturday, June 23, 2018

Thursday, June 21, 2018

A fall in planning applications

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BofE vote 6 to 3 to maintain base rate

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Sainsburys and Skipton cut BTL rates

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Wednesday, June 20, 2018

Skipton cuts BTL rates by up to 0.23%

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Renting more expensive than buying... everywhere

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Gov. announces selective licensing review

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UK housing market loses £1bn in value

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Not every millennial wants to buy a house

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Landlords! Here Are The Surveys You Never Knew You Needed…

The private rental market has exploded. According to The Guardian 46% of 25-34 year olds are in rented accommodation and UK tenants paid over £50bn in rents last year. With UK tenants paying a record £51.6bn in rents last year, we’ve seen rental income for landlords more than double in the decade since 2007.

So, times are good for landlords at the moment. It’s becoming increasingly difficult for people to get on to the property ladder. With lenders tightening up on mortgages the trend for renting, rather than buying, looks set to continue. Landlords can sit back and let the good times roll, right?

Well, whilst we doubt the rental market is going anywhere anytime soon, care still needs to be taken. As ever with these things as something becomes bigger and more popular, often much more scrutiny is applied.

That’s why it’s more important than ever for landlords to protect themselves against every eventuality.

We’ve come up with the following list of surveys that can help landlords avoid any nasty surprises:

Asbestos Surveys

Back in 1999, asbestos became a banned substance in the UK. That means all pre-2000 properties could contain asbestos. As a landlord, it’s up to you to know whether your property has asbestos containing materials (ACMs) present. If so, you’ll need to create a robust plan of action to safely deal with them.

As recent as 2016 there were still around 3000 asbestos related deaths in the UK. A staggering number considering how long the substance has been banned. ‘The Control Of Asbestos Regulations 2012’ have been set out by the HSE to ensure property owners remain fully compliant with the law and also ensure the safety of their tenants.

There are several types of asbestos surveys with some of the common ones being asbestos management surveys, asbestos refurbishment surveys and asbestos demolition surveys. Thankfully, there are plenty of very good environmental consultancies out there, such as EDP, who can talk landlords through the most appropriate course of action. Consultancies like this specialise in helping property owners to identify ACMs and develop their asbestos management plan accordingly.

Fire Risk Assessments

Since the horrific events of Grenfell Tower last year, fire safety has quite rightly been brought back to the forefront of everyone’s minds; both landlords and tenants. There’s some excellent advice on fire risk assessments at the gov.uk website which you can read more about here.

From a landlords perspective, there are several things you must consider to ensure the safety of your tenants and to protect your property in the event of a fire. There are several acts that must be adhered to if you want to remain fire safety compliant, such as ‘The Housing Act 2004 Including The Housing Health And Safety Rating System’, ‘The Regulatory Reform (Fire Safety) Order 2005’ and ‘The Smoke and Carbon Monoxide Alarm (England) Regulations 2015’, amongst others.

There’s a lot there to keep up-to-date with and it’s further complicated by the fact certain rules are different in the different countries within the UK. Fortunately, firms like The Parr Group exist to take the pressure off landlords. By offering a range of services including fire extinguishers, fire alarm systems, maintenance services and fire safety training, full compliance with the law and safety regulations can be guaranteed.

Property Transcription

Property transcription services are available across the country to landlords, estate agents, letting agents and property managers.

Some of the common types of property transcription services include homebuyer reports, building survey reports, inventory reports, check ins/check outs, schedules of dilapidation, schedule of works and expert reports. Phew; that’s a lot to get through. No wonder a growing number of landlords and agents are outsourcing these arduous tasks!

Apple Transcription, for example, provide a whole host of reports to help with job tracking and progress updates, as well as offering an online system to securely store and manage all of your transcripts. This sort of service can be particularly useful if you manage a number of different properties.

Energy Performance Certificates

Did you know since 1
st April 2018 privately rented properties must meet new energy efficiency standards? If these standards aren’t met, landlords can’t let them out to new tenants or re-let them to existing ones. Imagine the amount of income you could lose if you’re not up to date with new ‘Minimum Energy Efficiency Standards’ (MEES).

The magic letter for compliance is ‘E’. ‘E-grade’ is what your property must achieve to be compliant. Don’t be complacent if you think your property already has the ‘E-grade’ either; as of April 1
st the ‘E-grade’ standards changed so it’s better to double check your property remains let-able otherwise you could face fines for lack of compliance.

If you fall short of the standards and can’t get a relevant EPC, what can you do? A few things to try straight away include taking a look at attic insulation and cavity walls insulation, implementation of low-energy LED lighting and installation of a SMART meter.

Some of the larger energy suppliers are also offering help and advice to landlords. If you’re unsure of anything, why not try getting in touch with your energy provider for further guidance too? 

Electrical Installations and Appliances

Ensuring that electrical installations and appliances are safe and in good working order are key considerations for all landlords.

With electrical installations, there’s a recommendation from the Electrical Safety Council to have a qualified electrician carry out inspections and tests every five years. Furthermore if the property is a house of multiple occupation, this becomes a statutory requirement.

With regards to appliances, the government has confirmed that PAT testing of appliances is solely at the discretion of the landlord. That said, the Electrical Safety Council do advise that for larger appliances such as fridges, washing machines and electric fires, PAT testing should be carried out every 4 years. For smaller appliances like lamps, kettles and toasters, they recommend PAT testing should be done every 2 years.

In Summary

So, there you have it. It’s officially a great time to be a landlord in terms of the record numbers of properties being rented, however it’s also a potentially dangerous time for landlords that don’t take health and safety seriously.

By keeping up-to-date with current legislation and getting the right help from expert consultants, you’ll help to keep your properties in perfect order whilst remaining fully compliant. These two things combined will make it easier for you to rent your properties out, stay profitable and, most importantly, keep your tenants safe and happy.
 The private rental market has exploded. According to The Guardian 46% of 25-34 year olds are in rented accommodation and UK tenants paid over £50bn in rents last year. With UK tenants paying a record £51.6bn in rents last year, we’ve seen rental income for landlords more than double in the decade since 2007.

So, times are good for landlords at the moment. It’s becoming increasingly difficult for people to get on to the property ladder. With lenders tightening up on mortgages the trend for renting, rather than buying, looks set to continue. Landlords can sit back and let the good times roll, right?

Well, whilst we doubt the rental market is going anywhere anytime soon, care still needs to be taken. As ever with these things as something becomes bigger and more popular, often much more scrutiny is applied.

That’s why it’s more important than ever for landlords to protect themselves against every eventuality.

We’ve come up with the following list of surveys that can help landlords avoid any nasty surprises:

Asbestos Surveys

Back in 1999, asbestos became a banned substance in the UK. That means all pre-2000 properties could contain asbestos. As a landlord, it’s up to you to know whether your property has asbestos containing materials (ACMs) present. If so, you’ll need to create a robust plan of action to safely deal with them.

As recent as 2016 there were still around 3000 asbestos related deaths in the UK. A staggering number considering how long the substance has been banned. ‘The Control Of Asbestos Regulations 2012’ have been set out by the HSE to ensure property owners remain fully compliant with the law and also ensure the safety of their tenants.

There are several types of asbestos surveys with some of the common ones being asbestos management surveys, asbestos refurbishment surveys and asbestos demolition surveys. Thankfully, there are plenty of very good environmental consultancies out there, such as EDP, who can talk landlords through the most appropriate course of action. Consultancies like this specialise in helping property owners to identify ACMs and develop their asbestos management plan accordingly.

Fire Risk Assessments

Since the horrific events of Grenfell Tower last year, fire safety has quite rightly been brought back to the forefront of everyone’s minds; both landlords and tenants. There’s some excellent advice on fire risk assessments at the gov.uk website which you can read more about here.

From a landlords perspective, there are several things you must consider to ensure the safety of your tenants and to protect your property in the event of a fire. There are several acts that must be adhered to if you want to remain fire safety compliant, such as ‘The Housing Act 2004 Including The Housing Health And Safety Rating System’, ‘The Regulatory Reform (Fire Safety) Order 2005’ and ‘The Smoke and Carbon Monoxide Alarm (England) Regulations 2015’, amongst others.

There’s a lot there to keep up-to-date with and it’s further complicated by the fact certain rules are different in the different countries within the UK. Fortunately, firms like The Parr Group exist to take the pressure off landlords. By offering a range of services including fire extinguishers, fire alarm systems, maintenance services and fire safety training, full compliance with the law and safety regulations can be guaranteed.

Property Transcription

Property transcription services are available across the country to landlords, estate agents, letting agents and property managers.

Some of the common types of property transcription services include homebuyer reports, building survey reports, inventory reports, check ins/check outs, schedules of dilapidation, schedule of works and expert reports. Phew; that’s a lot to get through. No wonder a growing number of landlords and agents are outsourcing these arduous tasks!

Apple Transcription, for example, provide a whole host of reports to help with job tracking and progress updates, as well as offering an online system to securely store and manage all of your transcripts. This sort of service can be particularly useful if you manage a number of different properties.

Energy Performance Certificates

Did you know since 1
st April 2018 privately rented properties must meet new energy efficiency standards? If these standards aren’t met, landlords can’t let them out to new tenants or re-let them to existing ones. Imagine the amount of income you could lose if you’re not up to date with new ‘Minimum Energy Efficiency Standards’ (MEES).

The magic letter for compliance is ‘E’. ‘E-grade’ is what your property must achieve to be compliant. Don’t be complacent if you think your property already has the ‘E-grade’ either; as of April 1
st the ‘E-grade’ standards changed so it’s better to double check your property remains let-able otherwise you could face fines for lack of compliance.

If you fall short of the standards and can’t get a relevant EPC, what can you do? A few things to try straight away include taking a look at attic insulation and cavity walls insulation, implementation of low-energy LED lighting and installation of a SMART meter.

Some of the larger energy suppliers are also offering help and advice to landlords. If you’re unsure of anything, why not try getting in touch with your energy provider for further guidance too? 

Electrical Installations and Appliances

Ensuring that electrical installations and appliances are safe and in good working order are key considerations for all landlords.

With electrical installations, there’s a recommendation from the Electrical Safety Council to have a qualified electrician carry out inspections and tests every five years. Furthermore if the property is a house of multiple occupation, this becomes a statutory requirement.

With regards to appliances, the government has confirmed that PAT testing of appliances is solely at the discretion of the landlord. That said, the Electrical Safety Council do advise that for larger appliances such as fridges, washing machines and electric fires, PAT testing should be carried out every 4 years. For smaller appliances like lamps, kettles and toasters, they recommend PAT testing should be done every 2 years.

In Summary

So, there you have it. It’s officially a great time to be a landlord in terms of the record numbers of properties being rented, however it’s also a potentially dangerous time for landlords that don’t take health and safety seriously.

By keeping up-to-date with current legislation and getting the right help from expert consultants, you’ll help to keep your properties in perfect order whilst remaining fully compliant. These two things combined will make it easier for you to rent your properties out, stay profitable and, most importantly, keep your tenants safe and happy.

Fair wear and tear and tenancy deposits

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Cannabis farms and your rental properties

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45% gap between asking and selling prices

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The ONS selling price interactive map

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Gov. publishes licensing/HMO changes

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Fear of further London property price falls

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Tuesday, June 19, 2018

Build-to-rent sector has grown 30%

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Gov. funded social rented housing starts - graph

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How much of the mortgage market does BTL take up?

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Hoarder dies as fire brigade unable to get into cluttered home

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Gov. consultation on cladding ban

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What to look for when buying a building plot

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BTL more profitable than 2 years ago

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House prices up by an average of £6k in a year

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Agent goes missing owing thousands to landlords

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Monday, June 18, 2018

'To Let' boards banned in parts of Leicester

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Property buyers too embarrassed to haggle

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Couple could sue after £600k flat now worth £90k because of Grenfell's cladding

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Can I get a mortgage for more than the value of the property?

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Precise launches new 5 yr fixed BTLs

Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446

Dwindling housing stock in the north

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If a tenant lets the garden go to seed

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Britain moving toward German housing model

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Should I borrow via a Limited Company?

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Tel: 029 2069 5446

Landlords should look at Liverpool

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Glut of property for sale in the SE

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Sunday, June 17, 2018

Leasehold scandal: banks won't lend

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Precise launches limited edition BTL range

Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446

Saturday, June 16, 2018

Homes for sale nears record lows

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Housing Supply: a public and private collaboration

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Vernon boosts their BTL range

Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446

Friday, June 15, 2018

PRS slows in first quarter

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Foundation slashes BTL rates

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Tel: 029 2069 5446

Investing in Build to Rent

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Universal Credit savaged by spending watchdog

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Thursday, June 14, 2018

London rents fall for the first time in 8 years

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Agent calls top of London housing market

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Wales also pushes on with Tenant Fees Ban

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Annual rental growth at 1.0% say ONS

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Updated list of areas with full Universal Credit service

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Latest ONS House Price Data

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Semis see strongest house price growth

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End of term tips for student landlords

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Landlords head north for better returns

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Wednesday, June 13, 2018

Leeds BS refreshes BTL range

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Tel: 029 2069 5446

BTL share of lending is up

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A shift toward 5 yr fixed BTLs

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Tel: 029 2069 5446

1 in 5 landlords are accidental

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More people stay with family to save for deposits

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Fall in wage growth reduces pressure for interest rate rise

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House prices 100 times higher than 1966

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Leeds adds 2 yr fixed BTL at 1.44%

Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446

Kent more open to landlord income sources

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Tel: 029 2069 5446

Monday, June 11, 2018

Allsop's next commercial property auction

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Where are the best holiday let yields?

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Renters have £23 left after bills

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Police fail to act during illegal eviction

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Can I take my name off home to avoid second home Stamp Duty?

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Renters turn landlord

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The rise of online estate agents

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38% of landlords to buy via a Ltd Co

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Over 1m families waiting for social housing

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Friday, June 08, 2018

Landlords switch to companies for BTL purchases

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Labour wants a law change on tenancy deposits

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2020 will see a spike in property refinancing

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I have a 'no build' covenant on my land

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Thursday, June 07, 2018

House price rise 1.5% in May - Halifax

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Thriving million pound property market

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Retail landlords push back against CVAs

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Hampstead cupboard for rent - £1100pcm

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The Dutch to build first habitable 3D printed homes

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How to apply for a local authority license

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DPS system changes - no lead tenant

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New resi-mortgage that converts to BTL

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Tel: 029 2069 5446

The Mortgage Lender unveils BTL range

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Tel: 029 2069 5446