Council Bond and DPS now the rent has increased?

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The council is just about to release money held in a deposit Bond which I now have to protect in the DPS scheme. The Bond is held with the Council as such time the tenant pays the total amount of it

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Lenders catering for staycation BTL demand

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Consumers looking to take out a holiday let loan to satisfy a rise in demand for UK holidays will find a notable rise in product choice since 2020. According to analysis by Moneyfacts.co.uk, there are now more than 200 deals available in this niche arena

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LATEST: Chancellor under pressure to link stamp duty bills to EPC bands

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An influential energy coalition has called for EPC ratings to be linked to stamp duty in a bid to encourage homeowners and landlords to invest in home insulation and protect against rising bills.

The Energy Efficiency Infrastructure Group, made up of industry, businesses and charities, has written to Chancellor Rishi Sunak urging him to support a new Energy Saving Stamp Duty Incentive.

This aims to encourage people to either buy a more energy-efficient home or incentivise them to make it more energy-efficient afterwards by installing insulation or a heat pump. Households would be charged a lower level of stamp duty for doing so.

Homeowners are being encouraged to get their properties to EPC band C by 2035, while – if the new energy efficiency bill gets the green light – landlords will have to meet the target by December 2025 on new tenancies and on all rented properties by December 2028. There is mounting concern that this could spark many to quit the sector.

The group says that with so many millions of homes to retrofit, its concept of a long-term structural incentive is necessary to engage and prepare the market, and it believes this could prove more effective and simpler than a large-scale, short-term, costly grant programme – while also being revenue-neutral.

Speaking on BBC You and Yours, spokesman David Adams explained: “Stamp duty would be calculated then nudged up and down around a neutral point based on the energy performance of that dwelling, so the better performing the home from an energy perspective, the lower the stamp duty paid.

“If work is undertaken within the first two years, you can get a new EPC and then resubmit that, and you would get a rebate for the difference in stamp duty to what you paid originally and what you would have paid had that work already been undertaken.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Chancellor under pressure to link stamp duty bills to EPC bands | LandlordZONE.

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HOTTING UP: Rents rising at fastest rate ever – Rightmove

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Average asking rents have rocketed at their fastest ever rate to £1,068 per month outside London – 9.9% higher than this time last year.

Rightmove’s Quarterly Rental Trends Tracker reveals that this rapid growth, driven by high tenant demand and low numbers of available rental properties, means that rising rents are outpacing house price increases in all but three regions: East Midlands, South West and the South East.

Wales (+12.7%), the North West (+12.5%) and the South West (+11%) lead the way in annual asking rent growth, while London hit record annual growth of 10.9%, with asking rents in the capital now 3% higher than before the pandemic started – the first time they have risen beyond pre-pandemic levels.

Largest increase

Pontypool in Monmouthshire saw the largest annual increase in asking rent of any local area, jumping 20% from £562 to £674, followed by Ascot (+18%), and Littlehampton (+17%).

Rightmove predicts that asking rents will rise by 5% in 2022 as the imbalance between supply and demand continues. It also reveals the average rental yield in Great Britain is at its highest point since 2016, at 5.5%, with record yields seen in the North East and Wales.

Total rental demand is up by 32% compared to this time last year, while the number of available rental properties is 51% lower. This has led to available rental properties being snapped up by tenants in an average of 17 days.

Tenant demand

Rightmove’s director of property data, Tim Bannister (pictured), says: “Tenant demand continues to be really high entering the new year, meaning the imbalance between supply and demand is set to continue until more choice comes onto the market for tenants, which has led to our prediction of a further 5% increase in average asking rents in 2022.

“Landlords understand the importance of having a good, long-term tenant, and there is a limit to what renters can afford to pay, which will prevent rents rising at the same rate we’ve seen over the past year.”

Read the report in full.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – HOTTING UP: Rents rising at fastest rate ever – Rightmove | LandlordZONE.

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My dad wants to open a Ltd company in my name and buy land?

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My dad wants to create a limited company under mine and my brother’s name and then buy land with it. He plans on building something commercial and might take out a loan.

He said he would put the land and company under mine and my brother’s name.

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Ome launches new portal

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Ome is today launching a new platform for its members which will further improve the overall experience of deposit free renting and the customer journey for Ome’s Deposit Replacement members.

The innovative new portal, which has been in development since the middle of 2021

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