landlords

Owner-Occupier and Landlord Mortgage Arrears Increase
Home Mortgage, landlords, Mortgage Broker, Mortgage Lenders, NEWS ARCHIVES, private rented sector

Owner-Occupier and Landlord Mortgage Arrears Increase

The recent economic downturn has had a significant impact on the mortgage market, with both owner-occupiers and landlords experiencing an increase in mortgage arrears. This is a worrying trend that could have a long-term impact on the housing market, as well as the wider economy. Owner-occupier mortgage arrears have risen significantly since the start of the pandemic, with the number of households in arrears increasing by over 50% in the first quarter of 2020. This is largely due to the fact that many people have lost their jobs or seen their incomes reduced, making it difficult to keep up with their mortgage payments. In addition, the government’s furlough scheme has been extended until April 2021, meaning that many people are still uncertain about their financial future. The situation is...
BTL Owners to Face Increased Fines for Renting to Illegal Migrants
Home Mortgage, landlords, Mortgage Broker, Mortgage Lenders, NEWS ARCHIVES, private rented sector

BTL Owners to Face Increased Fines for Renting to Illegal Migrants

In recent years, the number of illegal migrants in the United Kingdom has been on the rise. As a result, the government has taken steps to ensure that landlords are not renting to those without the proper documentation. In particular, landlords who rent to illegal migrants are now facing increased fines for their actions.The Immigration Act of 2014 requires landlords to check the immigration status of their tenants. If a landlord is found to be renting to an illegal migrant, they can face a fine of up to £3,000 per tenant. This is an increase from the previous fine of £1,000 per tenant.The government is also taking steps to ensure that landlords are aware of their responsibilities. Landlords must now provide proof that they have checked the immigration status of their tenants. This include...
Tips for Buying Your First Buy-to-Let Property
Home Mortgage, landlords, Mortgage Broker, Mortgage Lenders, NEWS ARCHIVES, private rented sector

Tips for Buying Your First Buy-to-Let Property

Buying a buy-to-let property can be an exciting and rewarding experience, but it is also a big financial commitment. If you are considering buying your first buy-to-let property, there are a few tips that can help you make the right decision. 1. Research the Market: Before you make any decisions, it is important to research the local market. Look at rental prices in the area and compare them to other areas. You should also research the local economy and job market to ensure that there will be enough tenants in the area to rent your property. 2. Get Professional Advice: It is always a good idea to get professional advice when making any major financial decision. Speak to a financial advisor or estate agent to get an understanding of the potential costs associated with buying a buy-to-let pr...
Buy-to-Let Property Sales in 28 Days: Keep Your Tenants and Avoid Eviction
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Buy-to-Let Property Sales in 28 Days: Keep Your Tenants and Avoid Eviction

Buy-to-let property sales are becoming increasingly popular, as they offer landlords the opportunity to make a good return on their investment. However, it is important to remember that when it comes to buy-to-let property sales, there are certain legal requirements that must be met in order to avoid eviction of tenants. This article will provide an overview of the legal requirements for buy-to-let property sales in 28 days, and how landlords can keep their tenants and avoid eviction. First and foremost, it is important to remember that when it comes to buy-to-let property sales, the landlord must have a valid tenancy agreement in place with the tenant. This agreement should include details such as the rental amount, length of the tenancy, and any other conditions that the landlord may hav...
Landlord with OBE Fined £300,000 for ‘Appalling’ Property Conditions
Home Mortgage, landlords, Mortgage Broker, Mortgage Lenders, NEWS ARCHIVES, private rented sector, rogue landlords

Landlord with OBE Fined £300,000 for ‘Appalling’ Property Conditions

A landlord with an Order of the British Empire (OBE) has been fined £300,000 for 'appalling' property conditions in a block of flats he owned in London. The landlord, who was identified as Sir Peter Bottomley, was found guilty of breaching multiple safety regulations and failing to maintain the building in a safe condition. The case was brought to court by the London Fire Brigade, who had inspected the building and found it to be in an extremely poor state. The court heard that the building had no fire alarms, inadequate fire doors, and insufficient emergency lighting. There were also numerous electrical hazards throughout the building, including exposed wiring and overloaded sockets. Sir Peter Bottomley had been warned multiple times by the London Fire Brigade to address these issues, but...
surveyLandbay Survey Finds Two-Thirds of Buy-to-Let Owners Unwilling to Sell Properties
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surveyLandbay Survey Finds Two-Thirds of Buy-to-Let Owners Unwilling to Sell Properties

A recent survey conducted by Landbay has revealed that two-thirds of buy-to-let owners are unwilling to sell their properties. This is despite the fact that the UK housing market has seen a significant downturn in recent years, with house prices falling and rental yields decreasing. The survey, which was conducted among 1,000 buy-to-let owners, found that 66% of respondents were unwilling to sell their properties, with only 34% saying they would consider it. The main reasons cited for not wanting to sell were the desire to maintain a steady income from rental income, as well as the belief that house prices will eventually recover. The survey also revealed that the majority of buy-to-let owners are not taking advantage of the current market conditions. Only 5% of respondents said they had r...
Act Now to Avoid Price Drops as Interest Rates Increase
Home Mortgage, landlords, Mortgage Broker, Mortgage Lenders, NEWS ARCHIVES, private rented sector

Act Now to Avoid Price Drops as Interest Rates Increase

As interest rates continue to rise, it is important for consumers to take action now to avoid price drops in the future. Interest rate increases can have a significant impact on the cost of goods and services, and it is important to be prepared for these changes. When interest rates increase, the cost of borrowing money goes up, which can lead to higher prices for goods and services. This is because businesses must pay more to borrow money, and they often pass these costs on to consumers. As a result, prices can go up for everything from groceries to gas to housing. To avoid price drops in the future, consumers should take action now. One way to do this is to pay off any existing debt. By paying off debt, consumers can reduce their interest payments and save money in the long run. Addition...
Lawyer Calls for Creation of National Register to Name and Shame Rogue Tenants
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Lawyer Calls for Creation of National Register to Name and Shame Rogue Tenants

A prominent lawyer has recently called for the creation of a national register to name and shame rogue tenants. The register would be designed to help landlords identify tenants who have previously caused damage to their rental properties or failed to pay rent. The call for the register comes after a number of landlords have reported significant financial losses due to tenants who have caused damage to their properties or failed to pay rent. In some cases, landlords have been forced to take legal action in order to recoup their losses, which can be both costly and time-consuming. The proposed register would contain the names and contact details of tenants who have previously been found guilty of damaging rental properties or failing to pay rent. Landlords would be able to access this infor...
Exploring the Benefits of Two-Year Fixed-Rate Mortgages for Buy-to-Let Landlords
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Exploring the Benefits of Two-Year Fixed-Rate Mortgages for Buy-to-Let Landlords

The buy-to-let market is booming, with more and more people looking to invest in rental properties. As a landlord, it’s important to make sure you’re getting the best deal on your mortgage. One option to consider is a two-year fixed-rate mortgage. These mortgages offer a number of benefits that can help landlords maximize their profits and minimize their risk. The most obvious benefit of a two-year fixed-rate mortgage is the security it provides. With a fixed rate, you know exactly how much you’ll be paying each month for the duration of the mortgage. This makes it easier to budget and plan for the future. It also eliminates the risk of interest rate hikes that can eat into your profits. Another benefit of two-year fixed-rate mortgages is that they tend to have lower interest rates than ot...
Property Prices Increase by 0.2%: Landlords Urged to Sell Now
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Property Prices Increase by 0.2%: Landlords Urged to Sell Now

The news that property prices have increased by 0.2% in the last quarter has been welcomed by many landlords, but there is a warning that they should consider selling now. The increase in property prices is a result of the current economic climate, with low interest rates and an increase in demand for housing. This has caused the value of property to rise, with the average house price now standing at £225,000. However, while the increase in property prices is good news for landlords, it is also a sign that the market is becoming increasingly competitive. With more buyers looking to purchase property, landlords may find it difficult to find tenants willing to pay the higher prices. This is why experts are urging landlords to consider selling now, rather than waiting for prices to continue t...