Comments for Moneyfacts.co.uk

Comment on Average first time buyer is 30 by Lauren

Lauren — Mon, 16 Apr 2012 10:42:29 +0000

I take it the research doesn’t segregate first time buyers who have received financial help from parents (or other sources) from those who have not received any financial help? I would anticipate that the average age for a first time buyer is much higher when financial help has not been received, perhaps around 37?

Comment on Average first time buyer is 30 by vivi

vivi — Mon, 16 Apr 2012 10:42:27 +0000

Thanks for the article Tom.
Part of the problem too is that rates are low so we aren’t getting the benefit of compounding the way we used to when we save. So if you had £10k in the bank when rates were closer to 5% you were seeing a real benefit in saving. Now its just a way of locking the money away to accumulate rather then getting any real bonus.
Saving is no longer the panacea it was and everyone is going to need to be slightly more money smart in order to achieve the same results!
Vivi
Blackbullion – Money Smarter

Comment on Rent payment history to form part of credit files? by Jonathan

Jonathan — Sat, 24 Mar 2012 07:54:54 +0000

Let tenants search landlords for free. That way they can be sure too.

Comment on Rental market leaves a lot to be desired by Rent payment history to form part of credit files?- Moneyfacts.co.uk

Rent payment history to form part of credit files?- Moneyfacts.co.uk — Thu, 22 Mar 2012 12:58:58 +0000

[...] Some landlords and letting agents may use the check in place of, or in addition to the credit check. It’s very likely that this fee will be passed on to the tenant, making just another thing to pay, in the increasingly expensive business of securing a rental property. [...]

Comment on Will landlords need a licence to let? by Dudley Jones

Dudley Jones — Mon, 05 Mar 2012 16:44:13 +0000

I can see no reason for the additional regulation. I see many Councils getting bogged down, with landlords waiting a year or two to obtain licences, or not getting them at all while tenants have no homes.

There are better ways to avoid abuses.

Will it be like adoptions where many children dont go to loving homes because would be parents dont fit the LA’s ideas, or because the children grow up before the process is completed?

Somebody is going to pay, its bound to the the tennants, or the rate payers.

How long before LA’s decide to introduce the Code for Sustainable Homes, which will delay things for ever, and rack up thousands of pounds of cost for little gain.

Its a disaster waiting to happen, for landlords and the homeless alike.

Comment on Will landlords need a licence to let? by Tom

Tom — Mon, 05 Mar 2012 09:49:23 +0000

@Richard Selby

Hi,

This is a interesting point.

Newham’s website says that it will be looking for properties to “meet current regulations and requirements”.

Whether other local authroities choose to set and enforce higher standards using the licensing scheme remains to be seen.

Comment on Will landlords need a licence to let? by Tom

Tom — Mon, 05 Mar 2012 09:41:46 +0000

@Laurence

Hi,

Thanks for your comment.

How much this might cost will depend on the local authority in question, and indeed, whether it decides to implement licensing at all.

Newham are charging £500, with a £200 discount for early applications. But how much other councils will charge will be up to them.

Comment on Will landlords need a licence to let? by J. Clark

J. Clark — Sat, 03 Mar 2012 13:48:13 +0000

As a responsible landlord I do not see the requirement to have the burden of additional costs imposed. If local authorities are concerned about a minority of ‘rogue’ landlords not fulfilling their legal obligations to tenants, they should have a department to specifically target them.

This is just creating bureaucracy for the sake of it and who is going to pay for it? I cannot see financially hard pressed councils doing so. The majority of landlords are law abiding, so this appears to be a ‘sledgehammer to crack a nut’ proposal.

I read an article recently that Newham were having to enforce the clean-up of the front garden areas because many tenants were using it to store their redundant household furniture, old mattresses etc., so that the area looked tidy for the 2012 Olympic Games. One wonders why this was never done before and casts doubt upon this particular local authority’s ability to administer another scheme, which will surely add to private landlords costs.

The buy to let gives a low rate of return. More unnecessary red tape could have the effect of reducing the private rental sector, which has happened in the recent past.

Comment on Will landlords need a licence to let? by Landlord

Landlord — Sat, 03 Mar 2012 12:46:44 +0000

The latest property i’ve bought in Newcastle Needs a Licence.

It’s quite simple really all it’s doing is making a place safe to live in and making sure a Landlord is a good Landlord.

I’m all for it really if you do the job right and run a good business you can’t go wrong.

Comment on Will landlords need a licence to let? by Richard Selby

Richard Selby — Sat, 03 Mar 2012 08:21:06 +0000

Will the licenses set requirements for minimum standards for housing to be suitable for letting? For instance requirement for kitchen equipment, condition and age. Hot water supply. Bathrooms? Fire and health safety?Who will set these standards? Or will they just be another form of local government control, intrusion and taxation?