Landlord press review

Like every month, Rentila offers you an overview of the main real estate news of interest to landlords. This month, we focus on housing market shutdown, coronavirus and what it means for your mortgage and your rent, mortgages helped by payment holidays, spike in tenants not paying rent, covid, covid… Happy reading and… renting!

The market

The UK housing market has shut down. But what happens after Covid-19?

Covid-19 has brought the UK housing market to a standstill. John Stepek looks at what could happen to house prices once the market opens up again.
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Homebuyers and renters urged to delay property moves

The Government has urged those with imminent house moves to delay their moving date while measures are in place to stop the spread of coronavirus.
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UK property market could ground to a halt as latest advice puts 300k transactions at risk

The latest government advice that home buyers are renters should delay moving if they can could mean nearly 300,000 property sales fall by the wayside.
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The Housing Market Is in Lockdown

The U.K. housing market — that obsession of middle-class Brits — has been placed in suspended animation. While a few transactions are still going through, a functioning market depends on prospective buyers and surveyors being able to view people’s homes.
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House prices and Covid-19

With moving during the lockdown period being heavily discouraged by the government and many lenders now refusing to lend to those with anything less than a 40% deposit, property website Zoopla reckons that the number of houses sold in the UK will fall by at least 60% in the next three months.
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Mortgage

Should You Consider Remortgaging During The Coronavirus Pandemic?

UK mortgage rates have dropped to their lowest levels following the cut in the Bank of England base rate to 0.1% on 19 March – the lowest it has been in the Bank’s 325-year history.
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Coronavirus: what it means for your mortgage or your rent

We’re officially in lockdown and many of us are seeing the coronavirus crisis take its toll on our income. So, what happens about paying your mortgage?
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Hundreds of buy-to-let mortgages withdrawn due to coronavirus

Online buy-to-let mortgage broker, Property Master, has warned that landlords will struggle to get mortgages as lenders pull product ranges, tighten lending criteria and widen margins, due to the impact of the coronavirus.
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Mortgage lenders seek 40% deposits

Britain’s mortgage lenders have dramatically increased their loan-to-value deposits for house purchases with Halifax and Barclays among those seeking 40% down-payments to fund buyers amid rising expectations of a housing crash.
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Choice of mortgage deals halved since March 11, analysis shows

There were 5,239 residential mortgage products available on March 11, when the Bank of England slashed interest rates from 0.75% to 0.25% in an emergency move. The base rate has since been cut again to 0.1%.
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One in nine UK mortgages helped by payment holidays – UK Finance

British banks and other lenders have provided payment holidays for one in nine mortgages as part of a push to help households whose finances have been impacted by COVID-19, UK Finance, an industry group, said on Tuesday.
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Rent

Rental demand drops by 5% across all major UK cities

Demand for rental properties has dropped by 5% across the UK’s major cities, while stock levels are also down by 12% year-on-year, according to the latest data release from lettings management platform Howsy.
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UK: Leases And Coronavirus – How Are Tenants And Landlords Affected?

With the uncertainty of this rapidly evolving pandemic, if you’re a business tenant or a commercial landlord you may be wondering what impact Coronavirus may have on your lease and your obligations.
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What does coronavirus mean for rent payments?

As the coronavirus pandemic continues, many of us are worried about its financial impact. When faced with a possible loss of income, one of the biggest concerns could be making monthly payments like rent.
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Most affordable rental areas for self-isolation

Ome, has investigated the most affordable locations across the UK with the lowest population to maximise the chances of successful self-isolation.
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Spike in tenants not paying rent as coronavirus hits jobs and pay

A growing number of private tenants are struggling to pay their rent as job losses mount and household incomes take a hit from the coronavirus in the UK. More than one in 10 surveyors and letting agents who commented said tenants had stopped paying or could not afford their rent, analysis by Yahoo Finance UK shows.
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Half of UK renters are worried about housing due to COVID-19

Almost half (48%) of UK renters are concerned about the impact the COVID-19 crisis could have on their living situation, according to research by Opinium.
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Advice

Everything you need to know about remortgaging in the current economic climate

With what is happening in the UK right now, remortgaging will likely not be top of your priority list. But, with many people’s finances expected to take a hit over the coming months ensuring that you’re paying as little for your mortgage as possible may help to ease the financial burden.
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How do I build equity in my home?

Home ownership has many advantages, and one of them is the ability to build equity. Your home equity is the value of your home minus any outstanding mortgage balance.
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UK: Tenant Advice UK And COVID-19: Update For Tenants On Issues Relating To Coronavirus

As the Government’s Deputy Chief Medical Officer warns that the start of the UK peak of the COVID-19 (coronavirus) epidemic is expected within the next 10 to 14 days, tenants are considering what their rights are in the worst case scenario.
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