Insights - Industry comment
Heat Source Pump Grants Coming Soon for Landlords
As confirmed in the recent Autumn 2021 Budget, landlords have been included in the government’s heat source pump grant scheme, which will provide access to grants of £5,000 to help replace gas boilers with low-carbon air or ground source heat pumps from April 2022.
Read MoreAutumn Budget 2021: Landlord Update
The focus of today’s Autumn Budget and Spending Review was post-pandemic economic recovery. From grants to help landlords replace boilers, to a deadline extension for Capital Gains Tax, there are a number of announcements that look set to impact landlords and property investors.
Is Landlord and Tenant Mediation to Become Mandatory During Evictions?
A report published last month centring on whether people involved in litigation should be forced to take part in alternative dispute resolution (ADR) such as mediation, could potentially have considerable consequences for possession cases involving landlords and tenants.
Tenant Referencing Crisis on the Cards as COVID Damages Thousands of Credit Scores
The National Residential Landlords Association (NRLA) is warning of a looming tenant referencing crisis as thousands of tenants are facing damaged credit scores caused by legal action over rent arrears in the wake of the COVID-19 pandemic. As this crisis intensifies and no government help seems forthcoming, landlords are wise to seek a reliable way to guarantee their rent.
Landlords Encouraged to Seek Alternatives to High Rent Advance Demands
According to a Radio 5 podcast, increasing numbers of landlords are asking tenants with a poor credit score or lack of renting history to part with six months’ rent in advance. The situation has been made worse by the effects of the COVID-19 pandemic, with incomes hit hard. But the NRLA advises against demanding such high advances, suggesting that an alternative guaranteed rent solution is sought.
Is Property Investment More Lucrative Post-COVID?
Research by a leading buy-to-let mortgage lender has revealed the impact that COVID-19 has had on the property investment market and, based on their findings, it’s looking like now, as restrictions start to ease, could be a good time to consider investing.
Could ‘Green Mortgages’ be the Solution for Landlords Looking to Improve EPC Ratings?
With the government’s Green Homes Grant off the agenda, and new energy efficiency rules for rental property on their way in, there is a growing need for some form of funding to help landlords meet their regulatory responsibilities. One such solution could be the ‘green mortgage’. Here’s the lowdown on these loans that are designed to support sustainable home improvements.
Government Reveals Plans for Evictions Ban Wind-Down
The government has announced plans to wind down the current evictions ban, meaning that landlords finally have some clarity on moving forward with evictions that are currently on hold, and have been for some time. Bailiffs will as a result be able to reinstate their roles from 1st June 2021.
Buy to let Market Turbo-Charged in Wake of Stamp Duty Holiday Extension
The extended Stamp Duty holiday appears to be having a significantly positive impact upon the private rental market, recent research has revealed. A survey of 500 UK landlords shows that more than a quarter say they are planning to expand their buy-to-let portfolios in the next 12 months.
Green Homes Grant Axed
The government’s Green Homes Grant has this month been axed just six months after its launch. The scheme was introduced to help private homeowners and landlords give their properties an eco-friendly upgrade, whilst creating work for tradespeople. But it closed on 1 April onwards to new applications.