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 mortgage lending growth with low rates, renting during coronavirus and UK housing gap. Happy reading and… renting!

The market

Home owners ‘up to 18% per month better off than renters’

Renters are paying up to 18% more each month than those who own their own homes in some parts of the UK, a report has found. The gap is greatest in London, where home owners could find themselves 18% better off typically, adding up to savings of £3,727 per year, Halifax said.
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UK housing: 1.2 million homes need to be built to close the housing gap

The UK housing market is facing grave challenges, according to a recent, in-depth report by the BBC. The Housing Brief points to a figure of a 1.2-million gap of new homes needed to accommodate everyone who currently needs a home.
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House prices exceed pre-crisis levels

House prices across all UK cities have exceed pre-crisis levels for the first time, according to Zoopla UK Cities House Price Index.
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Looking to the market ahead

UK Finance has now released its final lending figures for both December last year and therefore 2019 as a whole, and if the end of the last 12-month period has translated itself into 2020, then it seems likely we are destined for a positive year ahead.
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Housing market may see spike in overseas buyers ahead of stamp duty surcharge

From April 1 2021, the Government will introduce a 2% stamp duty surcharge for non-UK residents purchasing homes in England and Northern Ireland.
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Mortgage

First-time buyers ‘hope for Budget housing support’ as they lock in low mortgage rates

Data from e.surv suggests the proportion of mortgage approvals for those with smaller deposits – typically 15% – increased from 25.5% in December to 26.7% in January.
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Mortgage lending growth stalled in 2019

Annual gross mortgage lending dropped marginally by 0.4% to £267,552 billion in 2019, the first annual fall since 2010, according to UK Finance.
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Six Ways To Use A Bridging Loan

A bridging loan can essentially be used for any legal purpose, however, they are usually used as part of a property transaction. As the name suggests, bridging finance is used to ‘bridge’ a gap in a person’s finances before an alternative source of funds becomes available, or before a longer-term finance option can be arranged.
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Rent

These are the best and worst cities for renters in the UK

The best and worst cities to live in if you rent your home have been ranked by property specialists, Insulation Express.
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Renters can sue landlords if homes are cold or mouldy under new law

Renters will have greater firepower to take landlords to court if they are forced to live in cold or mouldy conditions. As many as 1.4 million UK people are forced to live in poor quality properties, according to latest figures from the Ministry of Housing, Communities and Local Government.
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Rental Index Shows Drop In Landlord Voidage

Landlord voidage dropped slightly in February, according to the latest Rental Index from Goodlord. Landlord voidage – void periods while rental properties are empty – dropped slightly compared to January, with the UK average standing at 19 days, down from 20.
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CO2 Emissions Affect Property Rental Prices

Buy to let property investors looking for the highest rental returns should target areas with low CO2 emissions, according to the latest research by lettings management platform, Howsy.
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Renting during coronavirus

How government’s new rules protecting renters from eviction will work – and advice if you can’t pay rent
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Advice

3 reasons to not overpay a mortgage

A mortgage is the biggest financial commitment many of us will ever take on. As such, it can make a lot of sense to pay off this debt as quickly as possible. Indeed, that’s why I’ve been trying to make overpayments to my own loan over the last few years.
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What is home equity? A new buyer’s guide

If you are a new homeowner or if you are planning to buy a house, you have probably heard of home equity. You might even have heard that one of the main benefits of owning a home is the ability to build equity.
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What is shared ownership? Here’s everything you need to know

Looking to get on the property ladder? Struggling to move into your first home? We all need our own space. A place that feels like home. But when housing prices continue to increase in the UK, getting on the housing ladder can feel near impossible. Which is where shared ownership might come in.
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