Govt

Govt

Want a mortgage? Don’t eat steak!

12 May, 20140 Comments
It emerged last night that mortgage applicants are being asked ‘Spanish inquisition’ style questions, including whether they play golf or eat steak. Some interviews have lasted up to 3 hours where applicants have been quizzed over the price of haircuts, their plans for more children and even their hopes of a pay rise. These questions
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Labour Party write open letter to letting agents

08 May, 20140 Comments
An open letter to letting agents, calling on them to end charging fees to tenants, is now live on the Labour party website. The letter, written by shadow minister for housing Emma Reynolds, says: Private renting is now the norm for 9 million people, including 1.3 million families. Many face unstable short-term lets and high letting
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Lifestyle quiz to secure a mortgage comes into force today

26 April, 20140 Comments
From today, new rules come into force that mean borrowers across the EU will be refused a mortgage if they fail a standard affordability assessment. According the the Financial Conduct Authority (FCA) the Mortgage Market Review (MMR) will ‘put common sense at the heart of the mortgage market and prevent borrowers ending up with a
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67% of the UK’s private rented stock are up to standard

15 April, 20140 Comments
The Chartered Institute of Housing’s UK Housing Review 2014 has revealed that 33% of the UK’s private rented homes would have failed the Government’s Decent Homes Standard in 2012. 15% of social rented homes also failed to meet the standard in 2012, down from 29% in 2006. Many property news websites have reported on this
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Impact of court fee rise will leave door wide open for bad tenants

09 April, 20140 Comments
Planned changes to court fees will take effect from 22nd April 2014, where fees for possession claims will see an increase of 60%. An application for possession currently costs £175 and when these changes come into force this will increase to £280. The possession claim online (PCOL) service, which currently has a discounted fee of
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Government says benefit claimants more responsible than workers

31 March, 20140 Comments
The majority of the Mortgage Market Review changes will come into effect on 26th April 2014, where new rules will mean that borrowers across the EU will be refused a mortgage if they fail a standard affordability assessment. Please read : Mortgage Market Review explained by the FCA. Please read : How will the Mortgage
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PRS Rent arrears UK’s best kept secret

11 March, 20140 Comments
Rent Arrears are now the fastest growing debt dilemma in the UK, but are also the most hidden debt – especially for private renting tenants. For example: A recent report revealed a total of 10,606 tenants in the West Midland borough of Sandwell were in rent arrears – owing Sandwell council a combined £5.3m in
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A bottle of wine or a bad tenant? – What a choice to make!

25 February, 20140 Comments
Last week we heard that the Bank of England was not going to raise interest rates until Mid-2015 and one of the reasons for raising rates was because savers were suffering. I questioned whether those savers were big corporations who had vast swathes of cash or just pensioners that received more money in interest and
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Rogue landlords and the review of property conditions in the private rented sector

19 February, 20140 Comments
Rogue landlords are very much in the news nowadays – even if you’re not remotely interested in the PRS, you can’t get far without hearing about landlords illegally housing their tenants in sheds, and worse.  There are plenty of schemes (existing and proposed) – mainly run by local authorities – to deal with them –
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