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Ghost Tenants Scam: huge fine for London managing agent

By |2018-10-16T10:02:25+00:00October 16th, 2018|Property News|

A managing agent who used ‘ghost tenants’ as a front so that she could cram 16 people into one overcrowded house has been hit with a £26,000 fine. Waltham Forest council had received an application to register the property in London E17 as a single-family dwelling. However, suspicious officers discovered it...

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Buy-to-let continues to offer ‘long-term benefits’ for investors

By |2018-10-16T10:02:28+00:00October 16th, 2018|Property News|

Buy-to-let investment in the long-term is still likely to beat savings rates by a significant margin over the coming years, despite recent regulatory and taxation changes, which largely explains why fresh analysis shows that almost half of all buy-to-let landlords are using their property investment as a ‘pension pot’. According to the...

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Agency fined twice in a year – once over fees, once over licensing

By |2018-10-16T10:02:26+00:00October 16th, 2018|Property News|

A London agency has been fined for the second time in 11 months. Local media in Barking, east London, report that Primelodge Estates Ltd was fined £10,000 last November for failing to publicise its fees. Now the agency has been fined a further £7,000 over a flat owned in the company’s name.  The...

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London’s luxury letting sector sees sharp drop in growth

By |2018-10-16T10:02:27+00:00October 16th, 2018|Property News|

The growth in tenancies agreed in London’s super-prime sector has slowed sharply from 20 per cent earlier this year to just five per cent now. Knight Frank says the number of super-prime tenancies - that is, £5,000-plus per week - agreed in London in the year to August was five per...

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Not so grim up north as buy to let investors move from south

By |2018-10-16T10:02:26+00:00October 16th, 2018|Property News|

New data from Countrywide’s luxury brand agency Hamptons International says the average price of a home bought by a landlord in the first half of 2018 fell to £174,580. This is four per cent less than last year (£181,260) and seven per cent less than in 2016. The agency says the...

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Sharp decline in buy-to-let purchases since 2015

By |2018-10-16T10:02:29+00:00October 16th, 2018|Property News|

Buy-to-let investors spent £12.1bn on new buy-to-let purchases during the first half of 2018, down 30% on three years ago, fresh figures show. The latest report from Hamptons International reveals that there was a £5.2bn drop in the total value of new buy-to-let acquisitions compared with the corresponding period during 2015. According...

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Rental prices continue to ‘gradually pick up’

By |2018-10-16T10:02:31+00:00October 16th, 2018|Property News|

A number of tenants have been hit by rent rises over the past 12 months as landlords respond to extra taxes and restrictions in the industry. The government’s decision to restrict mortgage interest relief to the basic rate of income tax and add a 3% levy on stamp duty for the...

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First-time buyers in the driver’s seat as buy-to-let property sales fade

By |2018-10-16T10:02:31+00:00October 16th, 2018|Property News|

The price of small properties across many parts of the country has dropped largely because landlord purchases are down, offering fresh hope for first-time buyers looking to get a foot on the property ladder, new figures show. The number of properties bought by landlords has declined sharply following a tax and...

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Managing agent fined £26k for cramming 16 tenants into family home

By |2018-10-16T10:02:30+00:00October 16th, 2018|Property News|

A rogue managing agent of an overcrowded house of multiple occupation (HMO) in east London has been fined £26,000 for breaches of licensing and housing management laws. Waltham Forest Council’s property licensing team received an application to register the property on Eastfield Road, E17, as a single-family dwelling. But suspicious officers...

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Lodger dodgers and Airbnb landlords may be targeted in Budget

By |2018-10-15T10:02:29+00:00October 15th, 2018|Property News|

A newspaper claims landlords who ‘game’ the current tax regime for short term lets and lodging may be in the firing line in the Budget on October 29. Currently amateur landlords can claim up to £7,500 tax free per year through the Rent A Room allowance system by letting their spare...

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