FSA consider BTL regulation

The Financial Service Authority has stated that it can see the benefit to bringing the BTL mortgage sector under the same regulations as the  residential mortgage market

Sheila Nicoll of the FSA stated “It is a matter for the Government to decide whether we should regulate buy-to-let, but we certainly see benefit in having the buy-to-let market regulated alongside the residential mortgage market.

We are very alive to the issue of buy to let and the European mortgage directive. One of the problems is that the buy-to-let market is far larger in other member states, such as Germany, so it is difficult for them to see why it should not be regulated but the FSA is very aware of the industry’s concerns on this.”

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Violent landlord attacks tenant

The frightening story of a landlord who attacked his tenant after falling out over the satellite television subscription.

Landlord Eric Malcolm first tried to electrocute his tenant by wiring up a booby trapped door handle and then when that didn't work, followed up with a brutal attack with a hammer.

The tenant managed to fight off his landlord and raise the alarm.

Malcolm has been sentenced to 4 years in prison.

Frightening.

Read more in the Daily Mail

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Lag your pipes!

I know it's nice and mild at the mo. But don't forget how cold it could get. Remember December last year!

I had problems with my own boiler because of the frozen external condensing pipe.

Might be time to get lagging.

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Hairy landlords boiler breakdown

Our hairy hero struggles with the mundane issues of property management.



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Growing demand for variable rates

Andy Young the Chief Executive of TBMC comments on the trend for landlords taking out variable rate BTL mortgages  - 

“Continuing the trend since the beginning of 2011, the last quarter saw a further increase in the proportion of buy-to-let applications for variable rate products. This reflects the weight of expert opinion that Bank of England base rate will remain low for some considerable time, certainly well into 2012. In quarter three 62% of applications received by TBMC were for variable rates with just 38% for fixed rate mortgages.”




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Getting rid of 'stuff'

If you have 'stuff' left by some of your tenants but get a pang of guilt out of throwing away perfectly useful items. Try signing up to your local Freecycle group.

I got rid of a functioning but unloved CRT TV.

The grateful recipients turned up in a taxi and it hauled it off to their student lair.

I could have got rid of it 10 times over!

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