In August we reported that landlords are losing confidence in their ability to earn an income through rental yields, and also issued a warning that landlords who are considering re-mortgaging should do so before tougher lending criteria comes into effect at the end of September.
Yielding to Pessimism
We issued a story on how landlords are less confident about their ability to rely on rental yields, even though the actual rental yields currently being achieved across the UK are fairly stable. The story was featured in the FT Adviser as well as regional and trade press. We also published one blog on the story, which can be read here.
Clock is Ticking on Re-Mortgages
Many landlords are currently re-mortgaging so as to avoid exposure to the new tax regime, and with tougher lending criteria being introduced at the end of September, we are warning landlords that are considering re-mortgaging to do as soon as possible. Our warning was featured in the Express.
Independent Review of Building Regulations and Fire Safety
Following the Grenfell Tower tragedy, the Government published terms of reference for an independent review of building regulations and fire safety. The review will assess the effectiveness of current regulations and enforcement issues, focusing on multi-occupancy high-rise residential buildings. You can read the terms of reference here.
Letting Fees Ban Welcomed by Welsh Government Research
New research, commissioned by the Welsh Government, has recommended that a ban is imposed on letting fees charged to tenants. The NLA has criticised a ban, arguing that, if costs are shifted to the landlord, this could lead to higher rents. The Welsh Government will be running a consultation until the 27th of September. More information on the consultation can be found here.
Representing Landlords in Sheffield
Our local authority officer Gavin Dick spoke to BBC Radio Sheffield about the problems of introducing mandatory selective licensing in the area, and how it would lead to a tax on all landlords, the majority of whom are working hard to provide quality homes. Listen back to the interview here.
Quiz: Test your Knowledge of Upcoming Regulations
We launched a quiz on the NLA Blog for upcoming regulations and what they will entail. While perhaps not as fun as the usual Internet quiz that asks what type of fast-food you most identify with, the quiz does provide a good opportunity to brush up on your knowledge and see where you may need to do some extra research.
For instance, when asked about the Government powers that the Housing and Planning Act will not introduce, only a third of users (!) were able to submit the correct answer. Check it out for yourself, and see how up-to-date you are with the new rules.