News

Lender eases rules for landlords

December 10, 2018

From The Sunday Times 9th December 2018 Buy-to-let landlords have been offered an easier route to securing a mortgage. The Mortgage Works, a specialist lender, has softened the financial tests it applies to assess whether landlords are capable of meeting repayments even if interest rates go up. Under these tests, borrowers have to show the rental income on the property will be at least 125% of the mortgage costs, or 145% for higher earners. They also need to show they …

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Dismay as Government ‘wants to limit tenants’ deposits to five weeks’ worth of rents’

December 4, 2018

From Property Eye Caps on security deposits could be reduced from the equivalent of six weeks of rent to five in new legislation going through Parliament. David Smith, policy director for the Residential Landlords Association, criticised the move revealed as  the Tenancy Fees Bill progresses through Parliament. He said: “If this is true, landlords will feel badly let down by a Government which says it wants to support good landlords. “The Government had accepted that a cap of six weeks …

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Tenant fees bill passes 2nd Lords reading without amendment

November 23, 2018

Attempts by Labour and the Liberal Democrats to tighten up both holding deposits and how much tenants are charged for leaving a tenancy early were defeated. Nigel Lewis – The Negotiator 21st November 2018 0 3,587 Views The tenant fees bill has passed its second reading in the House of Lords without amendment and is now only a few months away from becoming law. During a short one-hour debate several changes were tabled by both Liberal Democrat and Labour peers …

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Upstix in the Community

November 14, 2018

Upstix is committed to helping in the communities in which we operate. Here are a few examples. On 11th November this year our village, Capel St Mary held a dedication service for its new war memorial. This was a great event attended by several hundred people. Upstix has held various fund raising events and as a result we have been able to make several decent financial contributions. The letter shown in the picture shows how much the war memorial committee …

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Government announces proposals for new Housing Court

Taken from and ARLA Briefing email The Government has today launched a consultation which looks at reforming the routes to justice for both landlords and tenants, with the most radical option being to set up a new Housing Court. Currently, most housing cases are heard in the County Court (e.g. possession cases) and the first-tier Tribunal (Property Chamber), but many can find the process daunting and confusing, especially without support, with evidence showing that landlords are fearful of longer tenancies …

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Rental growth Highest in East of England over the Last Year!

November 13, 2018

Taken from Property Eye 13th November 2018 Rental growth hits an eight-month high but are tenants actually better off than ten years ago? – Property Industry Eye Rental growth last month hit its highest level since February, according to data from Countrywide firms. The agency’s figures, sourced by its Hamptons International brand, suggest rents on new lets were up 2% annually in October to £977 per month. This is the highest rate of growth since February, with each region seeing …

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£2 million more given to local authorities to crack down on rogue landlords

Taken from The Negotiator 13th November 2018 Local authorities are to be given an additional £2 million to crackdown on rogue landlords, it has been announced. The new cash helps answer one of the key criticisms of the government’s attempts to reform the broken housing market; that new rogue landlord legislation is pointless unless backed up with robust enforcement. Six months ago the government launched a national rogue landlord database but, a national newspaper reported last month, the database remains …

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Landlords increasingly avoiding renters claiming Universal Credit, says MP

October 23, 2018

From Negotiator Magazine 19th October 2018 As the government once again delays the roll-out of its flagship welfare reform, worrying signs of problems within the rental market are emerging. As leaked government documents show the roll out of Universal Credit is to be delayed again, Liverpool MP Louise Ellman yesterday told the House of Commons during a key debate on the welfare reform that landlords in her constituency are increasingly reluctant to rent their homes to those claiming it “because …

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Government moves a step closer to full regulation of the industry

October 17, 2018

Housing Minister Heather Wheeler has announced that a new working group will be set up, tasked with raising standards across the housing sector. The working group will be headed up by Lord Best, an independent cross bencher, supported by professional bodies including ARLA Propertymark and consumer groups such as Citizens Advice. The group will look at ways to improve standards for home buyers, sellers, tenants, landlords and leaseholders. At the moment anyone can operate as a property agent, although lettings …

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ZPG and OTM integrate with Facebook Marketplace

OnTheMarket and Zoopla are now listing their rental properties on Facebook’s MarketPlace, the social platform’s answer to both Ebay and Craigslist. Although OnTheMarket says it will be adding ‘tens of thousands’ of properties, Zoopla has said its deal will upload 300,000 homes to rent onto MarketPlace, making it in one go the largest rental property platform outside of the big three portals in the UK. Facebook’s data suggests that approximately 35per cent of its active users around the world visit …

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