Landlords new laws for hmo in UK

Landlords responsible for hoses of multiple occupation (HMO) may be affected by new laws introduced in April 2006.

The new law states that properties of three or more floors, with five or more tennants belonging to two or more households, need a license from the Local Authority. Some Local Authorities may also license smaller private rented properties according to circumstances.

Local Authorities will grant a license if a landlord is considered "fit and proper"and can demonstrate that tenancies and property are well managed. The accomodation should also meet minimum standards; (such as sufficient number of toilets, kitchens and bathrooms, for the number of residents.) The cost pf the license varies acording to the local authority but may be around £1,100.

More information on mandatory licensing are available at www.propertylicense.gov.uk

for information on mortgages for landlords go to www.you-can-mortgage.co.uk


Jerome Thompson CERT PFS

Investment returns for buy to let

Royal Institute of Chartered Surveyors forecast good returns for buy to let investors.

Many landlords are asking whether buy to let can remain the extremely good investment that it has been over the last ten years. This period has seen a period of sustained economic expansion, rising employment and falling interest rates. It is therefore no surprise that landlords have achieved highly profitable returns.

However, the economy is vulnerable to all sorts of economic shock , both domestically and worldwide. It is no longer just America sneezing, that causes the UK to catch a cold! With this in mind, investors need to be careful to avoid putting all their investment eggs in one property basket.

Recently the Royal Institute of Charterd Surveyors issued a statement proclaiming that it is difficult to believe the UK will continue to record rapid house price rises in the next ten years as the scope for further large interest rate falls do not exist. Nevertheless they still expect moderate house price rises to be sustained at 3 to 5% per annum over the next few years.

For the geared investor, i.e. one who is borrowing to purchase a property, even an environment of modest house price rises will reap good returns on capital invested.

For information on buy to let mortgages go to : http://www.you-can-mortgage.co.uk/ or call 01202 606363.

Author: Jerome Thompson
Many landlords are asking ifr buy to let will remain a good investment. The last 10 years has seen a period of sustained economic expansion, rising employment and falling interest rates leading to highly profitable returns for Landlords.
Published on 10/5/2006.

Welcome to our blog

A warm welcome to all my readers. My name is Jerome Thompson and I help people find a mortgage broker who can advise them whatever their circumstances.
I will be posting up to date information on current issues relating to house purchase.
Any reader who is intersted in links is invited to contact me on 01202 606363. Further information can be found on www.you-can-mortgage.co.uk and www.you-can-remortgage.co.uk

Royal Institute of Chartered Surveyors forecast good returns for buy to let investors

Many landlords are asking whether buy to let can remain the extremely good investment that it has been over the last ten years. This period has seen a period of sustained economic expansion, rising employment and falling interest rates. It is therefore no surprise that landlords have achieved highly profitable returns.

However, the economy is vulnerable to all sorts of economic shock , both domestically and worldwide. It is no longer just America sneezing, that causes the UK to catch a cold! With this in mind, investors need to be careful to avoid putting all their investment eggs in one property basket.

Recently the Royal Institute of Charterd Surveyors issued a statement proclaiming that it is difficult to believe the UK will continue to record rapid house price rises in the next ten years as the scope for further large interest rate falls do not exist. Nevertheless they still expect moderate house price rises to be sustained at 3 to 5% per annum over the next few years.

For the geared investor, i.e. one who is borrowing to purchase a property, even an environment of modest house price rises will reap good returns on capital invested.

For information on buy to let mortgages go to : http://www.you-can-mortgage.co.uk/ or call 01202 606363.