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 England’s fastest and slowest moving housing markets, UK house prices falling, ‘unprecedented’ support for borrowers during coronavirus lockdown, mortgage approvals, best seaside towns in the UK… Happy reading and… renting!

The market

House prices: everything you need to know in 2020

What will house prices do this year? Should we expecting the much-predicted house price crash in the next few months, or will the UK property market bounce back following the stamp duty holiday announcement?
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House prices in the UK are now falling – but will they crash?

House prices in the UK are falling – and not just in “real”, after-inflation terms. For the first time in eight years, one of the country’s biggest house price indices has recorded a negative annual house price gain.
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England’s fastest and slowest moving housing markets revealed

The Midlands town of Willenhall has had the fastest-moving property market since house sales have been able to take place once more, according to analysis. Rightmove looked at areas in England where at least 100 new listings were added to its website between May 13 and July 1.
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Coronavirus: UK house prices slide for a fourth month in a row

Halifax’s monthly house price index showed the price of an average home edged 0.1% lower between May and June to £237,616 ($296,599). It marked the first four straight months of decline in a decade.
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CA calls on Welsh government to speed up property market reopening

The Conveyancing Association (CA) has urged the Welsh government to open up the housing market at a quicker pace and to match the recent changes to stamp duty land tax that have been introduced with immediate effect in both England and Northern Ireland.
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International property portal launches

Property Connect International has been launched to help potential overseas property owners source their new home. Founded by Nakhil Mahra it already has over 3,000 properties listed across the three main overseas property hot spots of France, Spain and Portugal.
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Mortgage

High level of mortgage rejections threatens property market

Mortgage application rejections and delays caused by Covid-19 are putting property transactions in jeopardy, according to a survey of home movers by Butterfields Mortgages.
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Coronavirus: Mortgage approvals plummet to all-time low

Just 9,300 new mortgages were approved across the UK in May, as the COVID-19 pandemic pushed the housing market to near standstill. Statistics from the Bank of England, published on Monday, show new mortgage approvals hit an all-time low in May.
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‘Unprecedented’ support for borrowers during coronavirus lockdown

Borrowers have been offered “unprecedented” support by the banking and finance industry during the coronavirus lockdown, with millions of people taking up payment holidays and interest-free overdrafts.
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Four in ten brokers predict buy-to-let growth

Paragon Bank surveyed more than 200 intermediaries of which 41% said they expected more buy-to-let business over the next 12 months. Just over a quarter of intermediaries said they thought the buy-to-let mortgage levels would remain stable over the next year.
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Nationwide Building Society to lower deposit needed from first-time buyers

It follows the Government’s announcement last week that people getting on or moving up the housing ladder will pay no stamp duty on the first £500,000 of their purchase when they move home.
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Household demand for loans expected to increase in coming weeks

Households’ demand for loans such as mortgages will increase in the coming weeks, a Bank of England survey suggests. But borrowers could find it harder to take out a deal, with more expected by lenders to default on their loans.
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Rent

Know Your Rights As A Tenant Living In The UK

As a tenant privately renting in the UK, you have the right to live in a property that is safe, secure, and fairly priced. While we hope that nobody falls victim to unreasonable or unlawful landlords, instances of both do occur.
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These Are The UK’s Best (& Worst) Cities For Renters

Because lockdown life has really highlighted the importance of nature for mental health, a big move to the country might seem especially appealing right now.
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Renters fear ‘Covid-eviction’ when government ban lifts

Evictions in the private rented sector were banned for three months at the beginning of the pandemic, with the moratorium subsequently extended by two months. This means eviction hearings can start being held in court again from 23 August.
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Six potential tenants for every rental home available in June, says report

The average rent on a newly-let property in Britain fell to £986 per month – 0.7% or £6 less than the same time last year. This marked the first annual fall since February 2014, according to the private sector rental index from Hamptons International.
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Other

Electrical Safety Standards from 1/7/20 new tenancies and 1/04/21 existing

The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 require that landlords have property electrics checked at least every 5 years by a properly qualified person.
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£5,000 energy saving vouchers for homeowners

The move is part of a £3bn green investment package the Government says will help support about 140,000 green jobs and upgrade buildings and reduce emissions.
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10 best seaside towns in the UK

Lockdown got you thinking seaside towns are a better option than city living? Always wanted to live by sea and ready to take the plunge? Here are the best place to live by the sea worth a long-term commitment.
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Banning tenants on housing benefits ruled illegal

Landlords and letting agents are no longer able to block prospective tenants in receipt of state benefits from renting their properties after a landmark court ruling. The judgment follows almost two years of progress in the housing industry which has seen the practice become less tolerated.
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Pet-friendly rentals are a priority post lockdown – here’s where to look

If you’ve ever looked for pet-friendly rentals, you’ll know that securing a property that will allow pets can be a challenge, to put it mildly.
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