Boris launches London's Rental Standard

Boris has launched a new London Rental Standard.

This new voluntary scheme hopes to raise standards in the capital's private rented provision.

Landlords and letting agents can sign up to London's rental standards here.

A pdf of the rental standards are located here.

To meet the accreditation requirements landlords will need to attend a one day course and sign a sheet of paper declaring that they are a fit and proper person. Those that do will get a badge.

It sounds like another exercise in form filling to me. I doubt it will address the problem elements within the sector.

Boris said: "This standard aims to improve the experience of everyone."

Let's wait and see if it actually does.

The BBC shares some opinion on the new rental standards as does the Evening Standard.


 

A screenshot from PM3S

The Summary screen still needs a little tweaking but we're getting there with the new version of our free property management software.

Bradford letting agent fraud

A Bradford letting agent has been found guilty of defrauding landlords of their rent.
 
Samantha Wood, of CS Lettings  46, admitted fraud and was given a 10-month prison sentence, suspended for 12 months at Bradford Crown Court. The letting agent took approximately £25,000  from rental payments that should had been transferred on to landlords.

A landlord, Mrs Speight who had eight rental properties managed by CS Lettings realised rent payments were missing and contacted the police after Samantha Wood failed to explain away missing monies.

It later transpired that Samantha Wood had been shifting the money owed to landlords to help to sustain her failing letting agency business.

The letting agent was also ordered to carry out 250 hours of work in her community.

Landlords need to be careful when picking which letting agent to use.

Most popular BTL mortgages

Max LTV	Initial Rate	Term	Completion fee	Booking fee	Incentives	Lender
85%	4.99% Fixed	2 Years	2.5%	£130.00	No	Kent Reliance Semi Exclusive
85%	5.99% Discount	2 Years	2.5%	£130.00	No	Kent Reliance Multi Let & Ltd Co. Semi Exclusive
80%	4.47% Fixed	2016-11-30	2%	£0.00	No	Saffron BS Semi Exclusive
80%	4.87% Fixed	2019-08-31	£995	£0.00	No	Saffron BS Semi Exclusive
75%	2.88% Tracker	2 Years	2.5%	£150.00	Free valuation for purchases and remortgages & free legals on remortgages	Mortgage Trust Exclusive
65%	5.27% Fixed	2016-11-30	2.5%	£0.00	No	Saffron BS Ex-Pat Semi Exclusive
60%	2.45% Discount	2 Years	£1950	£250.00	One free Valuation on properties valued up to £1,000,000	Hinckley & Rugby Exclusive

 

Search the whole BTL mortgage market free

Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages.  

The Financial Services Authority does not regulate some forms of mortgage.

---

Generation tenant & landlord - the facts

We all know that politicians spin information for their own political benefit. Labour 'lovies 'Ed & Ed the comedic double act have been doing that recently trying to hook in 'generation rent'. Here are some useful facts from a useful piece of work produced by Allsop & BDRC that might dispel some of the myths banded about by the politicians.

Firstly, landlords are not after making a fast buck. 78% of landlords see the main motivation for building their property portfolio is to provide for their pension.

Despite the stories of spiralling rental costs their figures reveal:

• the average rental for a 2 bed flat in London (zone 1-2) has gone up by just £5 over the last year
• the average rent increase is 4.2% over the last 12 months - our own Rentindex shows rents have fallen by 1.7%
• only 74% of gross rental income remains after a landlord paying management & maintenance costs
• 2 years 6 months is the average tenancy (pouring scorn over the idea that landlords are constantly booting tenant out because they can then jack up the rent)

It's not what the politcians want to hear but being a landlord outside Knightsbridge maybe isn't always a bed of roses.
 
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Students landlords - Scotland best

Demand for student housing has prompted a property investment boom according to Savills 'Spotlight on UK Student Housing'.  The student housing market has seen investment of £5bn over the last 2 years.

The greatest opportunity lies in Scotland according to Savills' ranking of university towns.  London also remains a hot spot.

Aberdeen and Glasgow could provide high yields.  This year Savills identified a further opportunity for 11,000 purpose built homes split across Glasgow and Edinburgh with a significant number in Aberdeen. 

Overall Savills is forecasting yields of 6pc for investors in 2014.  Total returns for investors with rising rental prices are likely to come in at 13.7% in 2014.

Landlord insurance - student landlords - specialist insurance brokers

Crowd investing for landlords

We recently highlighted crowd funding for landlords.  How about crowd investing?

It appears on the face of it that this is the easy solution to riding the buy-to-let boom without the hassle of owning property or looking after tenants. What is buy-to-let crowd investing all about?

Think a unit trust or investment trust for buy to let investing.  In just the same way as an investor would buy into a pooled fund of financial investments crowd investing involves a property investor buying a share of a residential property that is either refurbished for sale or let out.  The potential gains are from both rental income and capital appreciation following the refurbishment.

Is this new?  Well actually no.  I remember about 10 years ago a very similar scheme was tried and it all ended in tears.  The scheme disappeared.  Obviously this was in the internet early days and before the likes of Zopa and various crowd funding techniques has proved themselves to work but it is something to bear in mind.  I've listed some of the crowd investing sites below but feel free to post anymore that you can find:

• Property moose 
• Crowdahouse
• Crowd2let
• Thearmchairpropertyinvestor
• Thehousecrowd

Property Hawk's view

Here at Property Hawk we instinctively an old bunch of crusties. We distrust anything that is new/revolutionary or promises something for nothing. They frequently disappoint and more often lead investors with nothing as the instigators take their money and profits and run. I was listening to a piece on Radio 4 Moneybox which gave a fair view on the crowd investing schemes for landlords.  Our take is:

• Take the returns quoted with a pinch of salt (they very rarely materialise)
• Remember that the instigators of the schemes have a vested interest in charging and taking large fees that are legal but not necessarily justifiable (this will reduce massively your returns)
• It's all well investing your money but how do you take it out.  The suggestion is that you can sell your stake to another investor ( difficult and will you get the full value of your investment back?)
• The areas that you end up owning property will rarely be a high values areas and you could question the likely long-term returns from capital appreciation even if the headline rental yields might appear enticing.

The short answer is that most investors could be better of saving their money for a deposit and buying a property outright or with a friend or family member.  If you only have a few thousand to spare you are probably better of sticking your money in one of the many quoted property funds or companies that are at least tightly regulated and immediately trade able allowing you to take your money out when you need it.

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Landlords - a disaster for the economy

Landlords have been accused of a lot of things, but now we are apparently a disaster for the economy according to the Guardians economics correspondent. We are aware that landlords are not an ethical investment according to the landlord kicking brigade in Manchester.

Landlords are a get rich quick mob
Now landlords are responsible for all the problems in the UK housing market, not the massive under investment in new housing or the ludicrous planning system.  Apparently, landlords are a get rich quick mob who are into just making a fast buck because we can get 'cheap mortgages' and we are not prepared to invest in those ridiculously subsidised visual monstrosities - solar panels.

Landlords provide free housing & pay tax
As an economist you would have thought that he would have been aware of the fact that the 1.4 million landlords at no cost to the UK taxpayer provide approaching 20% of UK households with somewhere to live.  On top of that - we pay tax on our rental profits that all goes back into UK plc to provide: roads, schools, even social housing.

Guardian has no time for the 'little guy'
Can you imagine the cost to the UK taxpayer if you wanted to provide all that housing through the public sector? Again another Guardian correspondent who likes to lambaste the fact that the little guy is given a route to supplement their meagre income or build a business and then benefit the whole of  society at the same time.  He critcises but cant provide a costed alternative. Feel free to read his views and post your thoughts below.

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Carney concerns over rampant property market

The average property increased in value by nearly £10,000 between April and May according to figures from Rightmove.

This is the biggest jump since Rightmove's index started back in 2001. The average property is at a  record high of £272,003. The majority of the boom is still centred on London. A 16.3 per cent jump, compared with a more modest 4.9 per cent in the rest of the country.

Mark Carney, the Bank of England’s Governor is considering capping mortgage ratios to salaries to subdue the market, as well as pondering the future of Help to Buy.

David Cameron said: “We have given the Bank of England the duty to make sure that bubbles are dealt with in the economy. They have all the powers they need to do that. 

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MOJ figures on repossession claims

Ministry of Justice figures show 47,220 repossession claims were made in England and Wales between January and March 2014.  the equivalent of 525 a day.

Of these claims, 69 per cent led to a formal possession order, 37 per cent went to a warrant for possession of the property and 20 percent went on to repossession.

During the same period, there were 10,475 repossessions carried out by county court bailiffs on behalf of landlords. This is the highest level for five years. 

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Five ways to cut tax

A Moneyweek video sharing five ways you might cut tax.
 

Tenants still confused by TDS

Over half the tenants polled by spareroom.co.uk said they had never actually checked whether their rental deposit was being held in a government backed Tenancy Deposit Scheme.

A fifth of the tenants polled had not even heard of tenancy deposit schemes.

"It's easy to see why tenants who've been burnt in the past see deposits as rent top ups," said Matt Hutchinson, director of SpareRoom.co.uk. "You hear horror stories about the excuses landlords have found to withhold deposits when tenants move on, but there are two sides to every story."

Lending to landlords up 56%

Buy-to-let loans in March were up 56% year on year according to figures released by the Council of Mortgage Lenders (CML).

Advances to landlords were 16,200 in 2014 compared to 10,400 in March last year totalling £2.2bn.

Mortgage Search - expert broker - leading rates

New BTL crowdfunding site

A peer to peer lending has launched into the BTL sector. Landbay aims to use crowdfunding to provide loans to property investors. Those landlords wanting to raise capital through the site can apply for loans between £50k and £500k in England and Wales.

The crowd funding site is hoping to raise money to lend by attracting small investors seeking a better home for savings that might currently be languishing in low return ISAs or saving accounts.

Once signed up a saver can deposit money, in £10 multiples that is then lent out to property investors. A saver had three levels of risk that they can elect to lend on, each with a different level of return.

The actual rate will be dependent on demand and will be finalised through an auction process.

I have absolutely no idea if the site will work.It might offer landlords another way to get their hands on funds and if anyone does gives it a go, please let us know how you get on.

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Landlord fined over gas safety

Landlord Samera Hussain was recently found guilty of breaching the Gas Safety (Installation and Use) Regulations 1998.

Despite numerous attempts to contact her she failed to provide a gas safety certificate for her property.

Even after the HSE issued an improvement Notice she failed to meet the deadline of 26 days to arrange a gas safety check.

Despite the flagrant disregarding of the law she was only fined £260 and ordered to pay £207 in costs.  This to me seems a very lenient interpretation of the law.  Landlords who ignore flagrant warnings like this when tenants lives are potentially at risk deserve to be punished and a fine including costs of less than £500 seem to me to be very light.

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Most popular BTL mortgages

Max LTV	Initial Rate	Term	Completion fee	Booking fee	Incentives	Lender
85%	4.99% Fixed	2 Years	2.5%	£130.00	No	Kent Reliance Semi Exclusive
85%	5.99% Discount	2 Years	2.5%	£130.00	No	Kent Reliance Multi Let & Ltd Co. Semi Exclusive
80%	4.47% Fixed	2016-11-30	2%	£0.00	No	Saffron BS Semi Exclusive
80%	4.87% Fixed	2019-08-31	£995	£0.00	No	Saffron BS Semi Exclusive
75%	2.88% Tracker	2 Years	2.5%	£150.00	Free valuation for purchases and remortgages & free legals on remortgages	Mortgage Trust Exclusive
65%	5.27% Fixed	2016-11-30	2.5%	£0.00	No	Saffron BS Ex-Pat Semi Exclusive
60%	2.45% Discount	2 Years	£1950	£250.00	One free Valuation on properties valued up to £1,000,000	Hinckley & Rugby Exclusive

Search the whole BTL mortgage market free

Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages.  

The Financial Services Authority does not regulate some forms of mortgage.

---

Landlord lending criteria tightens

Lenders are tightening their lending criteria to landlords according to reports in the Sunday Times.

Some lenders use a rate of interest based on the actual base rate whilst others use a stressed test figure which gives lenders the comfort of knowing that should rates suddenly rise that the landlord could still afford the repayments.

Woolwich will tighten it's lending criteria today Monday by borrowers being required to have their affordability to be calculated on a flat rate of 5.79%.  This means that the only lenders basing their lending criteria on the actual base rate are Clysedale and Yorkshire banks.

For more expert advice on mortgages talk to Property Hawk Mortgages.

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'Slowly, slowly catchee monkey.'

Apparently there were 5,910 people claiming universal credit as of the end of February 2014.

That means IDS still has a long way to go.

I think the slog might break him.

CML record resurgence in BTL

The March figures from the Council of Mortgage Lenders shows massive growth in the Buy-to-let sector. The value of BTL lending in 2014 was reported to be 69 percent up on the same month last year.

In total 16,200 BTL loans were advanced during March 2014.

BTL investors now account for £1 in every £6 of total residential lending in this age of generation rent.

However the level of lending to landlords is still far below its peak in 2007.

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Fixed rates account for 77% of mortgages

Fixed rate mortgages currently account for 77% of intermediary mortgage business according to buy-to-let mortgage specialist Paragon Mortgages

Two year fixed rates continue to be the most popular length for fixed rate products accounting for 53% of the panels business although the popularity of 5 year buy-to-let products is on the rise up from 24% in the last quarter of 2013 to 28% in the first 3 months of 2014.

Interestingly, landlords are increasingly opting for repayment mortgages with 77% choosing the interest and capital option when selecting the mortgage an increase of 17% from the 2008 figure.

Mortgage Search - free help & professional advice

Smoke alarms mandatory call

Labour continues their regulatory offensive against landlords with the Shadow Housing Minister Nick Raynsford introducing a 10 minute rule bill calling for smoke alarms to be mandatory in private rental homes.  His argument is that without a smoke alarm you are four times more likely to die in a fire.  The motion was backed by 245 MPs earlier this month and will now receive a second reading later this month.

Fire is a terrible killer and fire alarms and fire safety measures are always a good idea.  My 'beef' with this proposal is it's a case of one rule for one and one for another.  If the proposal was that all home owners should ensure that a smoke alarm is installed that would be fair.  But can you imagine the public outcry as homeowners were prosecuted for not having a working fire alarm in their home. As it stands the proposal clearly discriminates against private landlords.

The other problem that the politicians haven't answered is what happens if the tenants disable the alarms because they keep going off every time they burn their toast (my experience).  Who is responsible for making sure that the alarms are working?  I can only imagine the tortured bit of regulatory text to try ensure all blame rest with the landlord.

Labour doesn't like landlords.  As if we needed anymore proof that Labour are after the cheap populist tenant vote, this surely is conclusive evidence of their relentless push.

Landlord insurance - professional rates - available online

Renting relatively cheaper than buying

According to letting agency Countrywide the average UK tenant pays 93p to each £1 paid by the average homeowner on mortgage costs. This is a fall from 96p to the £1 paid last year.

This relative fall reflects a differential between house price increases and rent increases and you could argue sticks another pin in the inflated accusations that all 'landlords are greedy'.

London's renters have seen the greatest relative fall. The average London tenant now spends just 86p on rent to the £1 spent by homeowners.

With future wage rises expected to overtake rent increases by July, surely its time to stop the accusations of 'rip off landlords'… or are there other forces at play: smaller rental flats, worsening tenant ghettos, poorer quality rental stock…. who knows.

A landlord recruitment drive

The Daily Mail continue their recruitment drive for new landlords and with Savills suggesting the rental market will grow by a further one million tenants over the next five years the private rented sector is going to need them.

Search the whole BTL mortgage market free 

Most popular BTL mortgages

Max LTV	Initial Rate	Term	Completion fee	Booking fee	Incentives	Lender
85%	4.99% Fixed	2 Years	2.5%	£130.00	No	Kent Reliance Semi Exclusive
85%	5.99% Discount	2 Years	2.5%	£130.00	No	Kent Reliance Multi Let & Ltd Co. Semi Exclusive
80%	4.47% Fixed	2016-11-30	2%	£0.00	No	Saffron BS Semi Exclusive
80%	4.87% Fixed	2019-08-31	£995	£0.00	No	Saffron BS Semi Exclusive
75%	2.88% Tracker	2 Years	2.5%	£150.00	Free valuation for purchases and remortgages & free legals on remortgages	Mortgage Trust Exclusive
65%	5.27% Fixed	2016-11-30	2.5%	£0.00	No	Saffron BS Ex-Pat Semi Exclusive
60%	2.45% Discount	2 Years	£1950	£250.00	One free Valuation on properties valued up to £1,000,000	Hinckley & Rugby Exclusive

 

Search the whole BTL mortgage market free

Email: info@propertyhawkbtlmortgages.co.uk 

 

Tel: 029 2069 5446

 

Your home may be repossessed if you do not keep up repayments on your mortgages.  

The Financial Services Authority does not regulate some forms of mortgage.

---

Auction opportunities - double digit yield

We all know that property auctions can be a great way of picking up a property bargain.  Allsop has just released it's latest auction catalogue so have a look.

We have already picked up this block of flats in Hounslow comprising of 29 flats and generating over £364,000 per year.  Expect to pitch your bids at around £5 million.

If your budget wont stretch to £5 million there is this 3 bedroom property in Hull with a guide price of £45-50k and generating a rent of £5,700 giving you a double digit rental yield.

Buy-to-let mortgages - finance my investment

The coming house price boom?

The headlines recently have been full of stories about rising house prices.  The CBI has recently warned on house prices increasing at an unsustainable rate with projections of 8.2% this year and 5.1%.  So are we entering another house price boom?

House price dead cat bounce
Followers of the stock market will be familiar with the concept of the 'dead cat bounce'.  It where prices recover briefly after a dramatic sell off only then to carrying on moving south.  This in my mind is where the current housing market in the UK is at & here's why:

• London house prices are not UK house prices - don't expect the boom to trickle down.  London boom is a result of international factors unlike the remainder of the UK.
• House prices are not cheap - current prices mean that the average price to first time buyer income is at 4.5 still way ahead of the long-term average and way up on the low of 2.0 reached after the last house price crash.
• We are not getting any richer - house prices a only a function of our wealth and incomes along with our abilty to get credit.  If we are not getting better off there is no reason why they should go up in value
• Interest rate will go up...alot - interest rates and therefore the amount that we all will have to pay on our mortgages will double, treble even quadruple in the coming years.  That's not going to help prices.

The long view on house prices
The house price boom of the last decade is still unravelling and probably has another 5-10 years to truly unwind and find a sustainable level.  Government knows that that with the banking sector and consumer confidence dependent on the state of the market that a healthy housing market is a prerequisite of a growing economy - hence the initiatives like Help to Buy to engineer a 'mini boom'.  The housing paradox is that the more uncertainty people feel in the state of the economy, the more they stick their money in what they understand i.e. 'bricks and mortar.'  So even when the economic crash was caused largely by a credit induced house price boom and overvalued house prices this only exacerbated the tendancy for households to put more of their spare cash into their houses reinforcing or sustaining the problem.  So whilst the long-term prognosis for house prices isn't great, with this kind of behaviour then maybe house prices will continue to defy gravity for many more years to come.

Landlord insurance - professional rates - online brokers

Rent controls & the rent increase mirage

Rent or price controls on private rented accommodation has been firmly put on the political agenda by the two Eds...'Millibund' & his side kick 'Mr Balls'.

The 'new' idea of rent controls
The Labour proposals are that in essence rent increases will be restricted.  The funny thing is that being a politician and a meeley mouthed politician they don't want to call it rent control (or should I say price control).  It's dressed up as some kind of half way house where landlords would be prevented from 'excessive' rises during a 3 year period.  This is controlling prices in any way that I understand it.

The reality is that rent controls were tried before in the last century and almost the killed the private rental sector (these proposals will have exactly the same impact.)

Real rents have been falling
The whole debate on rent control has a slight unreal element about it.  Real rents particularly outside London have been falling in real terms for at least a decade. Have a look at this recent post post outlining the rental increase mirage.  The only places that rents have probably being increasing in real terms are in the posh parts of central London...the stomping ground of the likes of Milliband and Balls highlighting the 'Westminster bubble' that they clearly exist in.

So why control rents?
The latest proposal from the two Eds are nothing to do with making the private rental sector better.  It's all about grabbing the tenant vote particularly in the 'overheating' London property market.  The FT agrees and are none too impressed with Labours proposals for the private rental secotor.

The reality is that their proposals for rent control will:

• cause a flight of capital from the private landlords from the rental sector as some choice to sell up fearing more onerous controls
•  kill the build to rent initiative (who will want to fund or build new property facing this uncertain regulation)
• prematurely increase rents for tenants - have a look at this piece in City Am
• generate a massive and inaffective bureaucracy that tries to implement, oversee and administer this system of price control
• give less choice to private tenants and ultimately force up the real level of rents which have been falling

This is just sad for landlords and tenants.  Don't we all deserve better?

Landlord insurance - get expert advice - professional rates

Today's interest rate announcement

Interest rates - the monthly 'will he or won't he' question raises its head once again.

Most analysts expect that Mark Carney will keep rates as they are until early 2015. However their certainty is becoming increasingly shaky.

The all time 0.5% low is coming under increasing pressure from a booming property market and growth in the manufacturing and service sectors of the economy.

The Monetary Policy Committee will meet today at Midday and make their announcement on interest rates following the meeting.

The Mail's speculates on interest rates

The Guardian senses an early rise in interest rates

Reuters believe it will stick firm to let recovery build

The Financial Times weighs up an interest rate increase

Ahh.. news just in, the Bank of England are keeping the interest rate at 0.5% for another month.

Three exchequers call for changes to HTB

Three wise monkeys

Three ex - Chancellors of the Exchequer are calling for changes to the Help to Buy scheme to help stave off the onset of a housing price bubble.
The Guardian report that Lord Lamont, Alistair Darling and Lord Lawson have joined the chorus calling for revisions in the Help to Buy scheme.

Halifax report another property price fall

The Halifax Bank's latest house price index shows a drop for the second month in a row. April's drop of 0.2% follows March's fall of 1.2% off the average UK property price.

The bank says that the falls are due to a lack of supply.

Stephen Noakes from the Halifax, said: "On an annual basis, housing demand still remains strong. Housing demand continues to be supported by an economic recovery that is gathering pace, rising consumer confidence, low interest rates and wage growth finally beginning to outgrow consumer prices."

These falls pre-date any impact that might arise from a tightening of the mortgage lending criteria that came into force on 26 April under the new mortgage market review (MMR) rules.  

The annual change in the price of a property still stands at an 8.5% increase over the year.

Read the full Halifax Property Price Data for April

More regulation for landlords

The debate on whether the private rental sector and landlords require greater regulation has inevitably been promoted by the Guardian.  It's fair to say that the Guardian and it's readers are not residential landlords greatest fans.

Have a look at the details between an advocate of the private rental sector Micheal Ball of the University of Reading and Alexander Hilton Director of 'Generation Rent'.

What I would say is Alexander's analogy that it's easier in terms of regulation to become a landlord than it is to become a kennel owners letting to dogs.  Well kinda yes.  However, I'm not sure that tenants would like to be compared to helpless hounds. Clearly tenants have the ability to move, to seek legal redress, not to pay rent all sorts of legal remedies.  Poor old Fido doesn't!

In a fluid, transparent economy, regulation will have little impact on improving standards but it will create a huge, pointless bureaucracy with loads of toothless technocrats.  Does anybody remember .....the banks; they were regulated before they went bust....

Feel free to comment on the debate.

Landlord insurance - expert brokers - professional rates

Most popular BTL mortgages

Max LTV	Initial Rate	Term	Completion fee	Booking fee	Incentives	Lender
85%	4.99% Fixed	2 Years	2.5%	£130.00	No	Kent Reliance Semi Exclusive
85%	5.99% Discount	2 Years	2.5%	£130.00	No	Kent Reliance Multi Let & Ltd Co. Semi Exclusive
80%	4.47% Fixed	2016-11-30	2%	£0.00	No	Saffron BS Semi Exclusive
80%	4.87% Fixed	2019-08-31	£995	£0.00	No	Saffron BS Semi Exclusive
80%	4.09% Discount	0 Years	£499	£100.00	No	Hanley Economic Exclusive
75%	2.84% Fixed	2016-06-30	£2495	£130.00	No	Accord Exclusive
75%	2.99% Fixed	2016-06-30	£2495	£130.00	Free valuation	Accord Exclusive
75%	2.88% Tracker	2 Years	2.5%	£150.00	Free valuation for purchases and remortgages & free legals on remortgages	Mortgage Trust Exclusive
75%	3.5% Discount	0 Years	0%	£0.00	No	Hanley Economic Exclusive
65%	5.27% Fixed	2016-11-30	2.5%	£0.00	No	Saffron BS Ex-Pat Semi Exclusive
60%	2.75% Discount	0 Years	0%	£250.00	Free standard valuation for properties up to £250,000. For properties over £250,000 then will contribute £260 towards the valuation	Hanley Economic Exclusive
60%	2.45% Discount	2 Years	£1950	£250.00	One free Valuation on properties valued up to £1,000,000	Hinckley & Rugby Exclusive

 

Search the whole BTL mortgage market free

Email: info@propertyhawkbtlmortgages.co.uk 

 

Tel: 029 2069 5446

 

Your home may be repossessed if you do not keep up repayments on your mortgages.  

The Financial Services Authority does not regulate some forms of mortgage.

---

Tories will react to Labour's rental proposals

The truth is that Ed Miliband's attack on landlords will be a vote winner. A shrewd political move that will help wake Generation Rent from their voting apathy. It will give them a reason to go to a Polling Station and rally behind Labour.

Expect a Tory reaction to Labour's astute political move. The Tories cannot afford to be seen as the landlord's friend. Their attitude toward us will need to be seen to harden. Whether that be increased regulation, tinkering with tenancy law or some other political retaliation, the Tories will have to be seen to beat us in some way.

Landlords have been thrown into a game of political kick about, and this will only end badly for us. Put on your head protection.

There is more political discussion on Labour's proposal to change tenancy and rents regulation in the Guardian.

Student co-operatives to take on landlords

Student co-operatives are a new initiative in student renting.

The idea follows schemes in California and Canada where student cooperatives, establish each student tenant as shareholder in the building. The co-operative then shares responsibility for maintaining the property as a communal space. Cooking is done communally. Essential maintenance duties are also performed by students. The result is rather like a student-run halls of residence.

A scheme in Edinburgh has secured funding to obtain a a 106-bed property. They are currently accepting applications from students wanting to live in one of the buildings 26 flats and is hoping to offer cut-price rooms to students from this September starting at rents of £260 a month.

Mike Shaw, from the project commented 

"It was an idea we had over a cup of tea a year ago. Basically, we want it to be a good community that people want to live in, the sort of place they can get excited about."

Other student co-ops have sprung up in Birmingham, Aberdeen and Sheffield, with a new organisation, Students for Cooperation helping to set up a nationwide network of cooperative projects.

This might become a growing trend in student housing.

It's your turn to do the washing up.

Shockingly huffy reporting about landlords

The Huffington Post has joined in with the Labour leaders attack on landlords. The news site posted a piece listing Six Shocking Property Facts About How Hard Renters Have it in Britain.

Number 4 on this Huffy fact list accuses landlords of 'making over £14,000 a year on average due to rising rents'.

Really? Landlords make an average of £14,000 on each rental property?

The online newspaper negates to mention that this is before any deductions for BTL mortgage payments, landlord insurance, management charges and maintenance and repair costs.

Balanced reporting, now that's something that would be really shocking.

A more balanced and accurate picture of what it is like to be a landlord is described in Homes and Garden Magazine this week by accidental landlord Victoria Whitlock.