Softest rental market for 5 years cools rental inflation
Rental market conditions are the weakest for 5 years reports Zoopla. Letting agents are getting 24% fewer enquiries to rent homes than a year ago. This is the lowest level for the month of August since 2020 as migration levels fall and mortgage availability improves for first-time buyers. The number of homes for rent is […]
Landlords under the spotlight
Did you know that as part of the Renters Rights Bill due to become law early next year that all landlords will need to register on a Private Rented Sector (PRS) database? This is to improve transparency for tenants and also landlords, however, failing to register will incur penalties. All private landlords must also join […]
Huge boost for property market as base rate cut to 4%!
The Bank of England has cut interest rates to 4% – the fifth drop in a year! This will be a huge boost to affordability across all home movers. While mortgage rates have been trending downwards this year, even better news is that the economists are predicting rates will reach 3% next year. With mortgage […]
Rents reach another new record
The average advertised rent of new properties coming onto the market outside of London has risen by 1.2% this quarter to a new record of £1,365 per calendar month (pcm) reports Rightmove. Despite another new record, the average asking rent for a home outside of London is now 3.9% higher than this time last year, […]
Further mortgage interest rate cuts on the horizon
As we head into summer, there is good news for home movers as the Bank of England has indicated another rate drop could be on the cards in August. Lenders such as Halifax report a steady housing market with mortgage approvals and property transactions improving following the slight cooling of the market after the stamp […]
Is Rent Guarantee Insurance Worth It?
Landlords face a changing landscape. With new legislation like the Renters (Reform) Bill on the horizon, the ability to manage risk and protect income has never been more important. That’s where Rent Guarantee Insurance comes in. Even with reliable tenants and a good agent in place, unexpected circumstances can arise. Rent Guarantee Insurance ensures that […]
Renters Rights Bill Approaches Final Stage in the House of Lords
The Renters Rights Bill is set to reach its final stage in the House of Lords on 21 July, just before Parliament rises for the summer recess. This Third Reading provides an opportunity for the Lords to make final refinements, ensuring the Bill’s wording is clear, practical, and consistent before it returns to the Commons. […]
Positive News for First-Time Buyers as Mortgage Guarantee Scheme Becomes Permanent
At Thomas Merrifield, we know how vital Government support can be in helping first-time buyers take that all-important step onto the property ladder. This month brings encouraging developments that could make home ownership more achievable for many across Oxfordshire. The Treasury has announced that the Mortgage Guarantee Scheme will now be permanent. This move, unveiled […]
A summer of significant rent increases possible
February delivered a month-on-month rent rise according to the latest Goodlord rental index. Prices increased slightly up by 0.2% from £1,207 to £1,209 per property on average. This possibly points to major rent increases later in the year. The South East saw a 2% price rise to £1,350 from £1,320. Year on year there was […]
It’s a strong market as spring arrives
Nationwide’s latest index shows that the housing market is buoyant, even though there are still affordability questions. The number of buyers without a mortgage, making a cash purchase, is now greater than before the pandemic. A gradual rise in buy-to-let purchases with a mortgage has been recorded over the last year. As rental yields have […]
