Base rate speculation causes fixed rates to rise

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Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, highlights that as SWAP rates have seen a steep increase due to base rate speculation, the average two-year fixed rate mortgage is also starting to rise.

Charlotte Nelson

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Trade body sets international agenda for invasive weed control event

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Leading experts from across Europe will be sharing best practice at the annual International Invasive Weed Conference, organised by the Property Care Association.

A key event for a wide range of professions looking for the latest insight into invasive non-native weeds.  The event ‘Management, Understanding and a Look to the Future’ takes place at the Møller Centre, University of Cambridge, on 23 November.

Focusing around three key themes – the management and understanding of invasive weeds, as well as a look to the future – the conference sets out to provide a comprehensive picture of the current and future issues relating to invasive weed control.

The day features a unique mix of discussion and insight from academia and different sectors including ecology, utilities and transport, as well as governmental and public bodies.

The meeting will address traditional invasive weeds such as Japanese knotweed and also investigate a new generation of non-native species which are becoming of increasing significance across the public and private sector, including aquatic plants.

It will draw on the experiences of academia, including Dr Ken Thompson of the University of Sheffield, Dr Maria do Rosario Fernandes of the University of Lisbon and Dr Uwe Starfinger, Julius Kühn Institute, Germany.

Philip Santo FRICS, of Philip Santo & Co, will provide an update on legal issues from a surveying perspective, while representatives from organisations including the Environment Agency, Defra, Monsanto, CABI, South West Water and Network Rail will also take part as guest speakers and as panellists for the question and answer session.

Professor Max Wade, chairman of the PCA’s Invasive Weed Control Group, said: “The impacts of invasive plants are wide-ranging, posing risks to the environment, water industry and transport infrastructure, and even public health.

“They are growing in number and the legislation surrounding their control is becoming more complicated.

“In line with their far reaching impact, the conference has been developed to provide industry-leading insight which covers a broad subject area, and is of appeal to a wide-ranging audience.”

The full conference programme can be viewed at www.property-care.org/conferences/invasive-weed-conference-2017/

This online area also includes a link to a video giving a flavour of the event, filmed at last year’s conference.

A further video regarding the challenges for landowners in tackling invasive weeds is also available to view at https://www.youtube.com/watch?v=YuHzVzgyV_E

Noted for its training and technical expertise, the PCA incorporates the British Wood Preserving and Damp-proofing Association (BWPDA), which has been in formation for more than 85 years.

The trade body represents the UK’s flood protection sector as well as the structural repair, structural waterproofing, wood preservation, damp-proofing and invasive weed control industries.

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Airbnb paid HMRC £188,000 for last year’s UK tax return

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Although Airbnb collected more than £675 million in rental payments last year their total payment to HMRC for corporation tax was £188,000.

The commissions earned by Airbnb are booked through it’s subsidiary in Ireland, but they also have two British subsidiaries.

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Freeholders plans to extort more profit from property owners

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In 2012 I bought a flat in Manchester as an investment and I have rented out the flat for the last five years however I recently received a letter from the management company stating they were introducing a new annual charge of £126 to “Provide a notice and registration fee upon granting of a shorthold tenancy”.

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Can I enforce safety checks on commercial tenant?

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We have one commercial lease (office building) wherein our tenants have denied their responsibility to carry out annual Gas Safe checks and Electrical Installation Condition checks.

Do we have any recourse against them apart from invoking forfeiture of the lease for breach of covenants?

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5 per cent of rentals don’t meet energy standards

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A new study carried out by AXA insurance has found that around one in 20 rental properties in the UK do not yet meet minimum energy standards, though landlords are making significant progress towards meeting the required standards, AXA found.

As a general rule, an Energy Performance Certificate (EPC) is required every time a home is put up for sale or for rent. So, a landlord needs one to show potential tenants the property’s energy rating, and a seller must have one to show to potential buyers.

There are a few exceptions, for example a lodger landlord won’t need one for a room that’s being rented out and listed buildings may also be exempt as they can’t have some upgrades like double glazing.

The requirement for an EPC has been the law since 2008 (2009 in Scotland), meaning that if your home has been let or sold since then it should have one. They remain valid for 10 years.

There’s a national register of EPCs, unless you’ve opted out, where you can take a look at your property’s previous certificates, as well as viewing similar properties in the neighbourhood for a comparison of energy efficiencies.

From April 2018 all rental properties must have and EPC rating of E or above, therefore the 5 per cent of properties, a significant number, (around 200,000 households) currently with ratings of F and G, will be illegal next year, if they have not been improved by then.

Poor energy performance (an energy rating of F and G) will not only cost tenants more money to run their heating, it often leads to insufficient heating in the home which in turn leads to condensation and black mould growth, a serious health hazard. AXA estimates that tenants in an A rated property would pay an average of £61 per month on energy, compared to bands F to G which would cost around double that at £112.

However, the private rental sector (PRS) in the UK is experiencing significant energy efficiency improvements, with landlords taking measures to gradually bring their inefficient properties up to standard,. AXA estimates the number of F and G rated rental properties has halved since 2015. However, it would seem from this study that there is a significant number at around the 200,000 mark still failing to meet the minimum standards.

AXA estimates that with this level of below-standard housing, poorly insulated and with inefficient heating systems, tenants occupying these homes will be over-paying on their energy bills in total by around £13 million per month.

Gareth Howell, managing director of AXA Direct has said:

“Our study has found that landlords are making significant investments into improving the energy efficiency of their properties and this is part of a bigger trend.

“When we look at our surveys of tenants and landlords over the past five years, we see progress across the board on security, maintenance and numbers with proper tenancy agreements in place.”

Mr Howell thinks that many of the landlords insured with AXA are accidental landlords who typically own just one or two properties.

“They are, by and large, professionalising and investing more seriously in their tenants’ comfort and the future health of their rental properties. Pockets of failure exist in this market, but it is not the story for the vast majority,” Mr Howell said.

Minimum EPC Rating for Rental Properties after 2018

Get an EPC – LandlordZONE Directory

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