UK Mortgage & Property Related News
The Renter’s Rights Bill has moved to the report stage in the House of Lords, with landlords concerned that the legislation does not address the capacity of the courts to handle the banning of no-fault evictions.
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A property consultancy claims it knows of a landlord who was fined a total of £66,000 “for a simple oversight” and must now sell a property to keep his head above water.
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The professionalism of private landlords continues to develop, with 60% of buy-to-let owners who intend to buy a property over the coming year plan to do so within a limited company structure.
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Specialist lender Aldermore has launched several new zero fee limited edition buy to let products for landlords.
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Record 39% of buy-to-lets bought this year were in North England or Midlands
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The Government has announced six dates for committee sessions in April and May as the Renters’ Rights Bill enters its final stages.
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HMRC soon to require digital record-keeping and quarterly submissions.
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First-time landlords are on the rise and motivated to join the market as rates fall, competition for homes is subdued and they see property as a safer bet than leaving their cash in savings or gambling on the stock market.
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The Mortgage Works is now offering a two-year fixed deal at 2.99%, although brokers point to the hefty 3% fee.
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The Home Office sparked fresh controversy over the weekend when it formally called on landlords to house asylum seekers to help cope with a record number of migrants.
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