Much has been written about the state of the Housing Market in England and Wales during 2009. Over the last few weeks data that has been released has edged towards the positive. Although some opinion is predicting that further falls are inevitable, more commentators such as the Nationwide Building Society and the RICS are predicting…
I was delighted to read a report that a campaign is being launched to help tenants who get evicted through no fault of their own, because their buy-to-let landlords have not kept up their mortgage payments. You can read more about it on the Citizens Advice Bureau site here. Long term LandlordLaw Blog readers may…
I was amused to read that Inside Track, the company that charged thousands of pounds for courses promising to teach people how to be property millionaires, has now itself gone into administration. I am not a property investor myself, neither am I a millionaire (I wish!) but I would have thought that if people want…
There is an interesting article in the Guardian pointing out that buy to let landlords are buying up properties suitable for families in Nottingham and letting them out to students, and that this is causing major problems in the area. Students leaving the place in a mess, shops closing and pubs closing during vacation, and…
There is an interesting article here on buy to let mortgages (which will be 10 years old this summer) which shows that they are highly successful and indeed less risky (for the lender) than residential mortgages as only 0.68% are in arrears of more than three months, compared to 0.97% of normal loans. Buy to…
An interesting article in the Observer this week, discusses the upward trend in tenant demand for rented property. To summarise these comprise the following: Immigration. This is where the biggest demand is – the government Actuaries Department estimates the average annual net immigration in coming years will be 145,000 a year, the Observer suggest the…
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Good news for tenants – receivers of rent now eight times more likley
A report on the BBC site today regarding problems experienced by buy to let landlords indicates that mortgage companies now seem to be more willing to appoint a ‘receiver of rent’, as opposed to evicting the tenant so they can sell as mortgagee in possession. This is good for tenants, as it means that they…