Rented Properties Require EPC level C

Private rental properties currently require a minimum EPC rating of E, but changes have been proposed and debated continued until December 30th 2021 to move the minimum to C or above. The response of these debates is due to come in Spring 2022 and regulations to be released in Autumn 2022. If passed in the current state, it would require all new domestic tenancies to have a energy efficiency rating of C by the 1st of April 2025 and all domestic tenancies to reach a C level by 1st of April 2028.

14 Dec 2021 Written by: Toby Dawson

£3 Trillion Property Value Taxed

A report published by the Resolution Foundation has pushed the government to consider taxing profits made from appreciating property values, including both primary and additional properties. It is reported that gains in London properties is on average £76,000 over the last 20 years. These rising house prices are valued at around £3 trillion which the report says is “largely unearned”.

10 Dec 2021 Written by: Toby Dawson

Holiday Evictions Ban

A suspension of bailiff-enforced evictions for the holiday period is said to be confirmed by the HM Courts and Tribunal, resulting in no forced evictions taking place between December 13th 2021 and January 20th 2022.

13 Nov 2021 Written by: Toby Dawson

Rising London Rental Prices

After a year of decline, the news of rising London rental prices for a fifth month in a row is welcomed by landlords. This provides an encouraging outlook for investments that many have considered selling.

12 Nov 2021 Written by: Toby Dawson

£65 million COVID-19 Rent Support

The government has committed £65 million in support to renters struggling due to the impact of the pandemic. This is on top of the £500 million the Department for Levelling Up, Housing and Communities have already committed to the Household Support Fund.

27 Oct 2021 Written by: Toby Dawson

HMO New Licensing Rules

Westminster introduced new HMO licensing rules at the end of August replacing the old rule of five or more people with sharing facilities requiring a HMO licence and reducing the number to 3 or more from two or more households.

14 Oct 2021 Written by: Toby Dawson

Furlough Ends

What has been a life saving resource to both employers and employees during the COVID-19 pandemic will now come to an end. September marks the last month of the Furlough scheme supporting over 11.6 million over its duration, with 1.6 million people remaining on the scheme at its close.

30 Sep 2021 Written by: Toby Dawson

Energy Crisis

A global surge in demand for gas after a cold winter leaves gas storage depleted, countries are scrambling to replenish stock before the return of colder temperatures resulting in a rising of market prices. With 50% of UK’s electricity coming from gas-fired power plants and fire forcing the closure of important power cables importing electricity from France, there is a large cause of concern of a wide effect on the UK.

25 Sep 2021 Written by: Toby Dawson

Rental Income Tax Raise

The health and social care tax rise was passed in the House of Commons, with the MP’s voting 319 to 248 in favour of a 1.25% increase to national insurance. This affects employees, employers and the self employed allowing a gap for those Landlords who take rental income directly.

12 Sep 2021 Written by: Toby Dawson

Grant for Landlords

The focus of the Chancellor Rishi Sunak has been on assisting business earnings, but for most property is an investment that income is made off. But there is a light at the end of the tunnel for those who are listed as self-employed or a member of a partnership. If you can prove you have been impacted by the coronavirus (COVID-19) then you can make a claim for the loss in profit between the 1st of May 2021 and 30th of September 2021.

22 Aug 2021 Written by: Toby Dawson

Housing Court Reform

Ministry of Justice (MoJ) figures are showing an average wait time of 60 weeks for a landlord to gain possession, prior to the pandemic this was closer to 20 weeks. A large portion of this is the increased notice period, with the average time from claim to repossession being recorded at 21.1 weeks according to Propertymark. As restrictions have been lifted there should be a stronger movement forward through the cases, but it has created a lack of faith in the system for landlords. Many estate agents through Propertymark have called for a reform of the law and a dedicated housing court.

20 Aug 2021 Written by: Toby Dawson

Debt Respite Scheme

Tenant debt and Landlord expenses have been a heavy talking point, even more so now that legislation is being drafted to come into effect on the 4th of May 2021 which will completely tie the hands of landlords who are facing the issue of non paying tenants.

20 Aug 2021 Written by: Toby Dawson

7 Years Government Paid Heat

The Government has said it wants to fit 600,000 heat pumps in UK homes each year by 2028. Install an eligible system before March 2022 and you can receive quarterly cash payments over seven years for the heat generated by your renewable heat system. It is called the Renewable Heat Incentive (RHI) scheme which offers the incentives for owners to change, though the seven years of payments comes along with a ban on the installations of gas boilers from 2025 in all new homes.

27 Jul 2021

London Mayor Demands Power to Control Rent

London Labour Mayor Sadiq Khan demands to be given the power to control private rents in London. In the May Mayoral election Khans proposal was for a ‘London Private Rent Commission’, which would be tasked with designing and implementing rent controls and also be empowered to freeze private rents to shield renters from financial problems like the impact of the pandemic.

26 Jul 2021

Stamp Duty Holiday Ending

At the end of June (30th) the extended stamp duty holiday will come to an end, which currently stands at no tax being levied on the first £500,000 of property purchases in England and Northern Ireland. To help with the transition back to normal rates there will be a tapering off period until the 30th of September 2021 where the stamp limit is reduced to £250,000.

25 Jun 2021 Written by: Toby Dawson

England June Evictions

As of the 1st of June 2021 residential evictions can be carried out in England, starting the post COVID-19 vacating of properties and potential influx of options in the lettings market.

22 Jun 2021 Written by: Toby Dawson

Garden vs Parking

Property extensions are very commonplace in London as owners try to utilise their land with vertical expansion adding an extra storey, side and rear extensions giving space to kitchens or conservatories. One space can be overlooked, the front of the house where a nice garden can be changed into a property value increasing parking space!

31 May 2021 Written by: Toby dawson

London Tenant Interest Increase

The upward turn that London landlords have been waiting for, reports for an increase of 17% in interested tenants in April compared with January 2021. While we all love hearing great news in the London lettings market it is good to understand why it is happening.

26 May 2021 Written by: Toby Dawson

Queens Speech May 11th

On the 11st of May the Queen will open parliament in which she is expected to confirm in the Queen’s Speech a number of bills covering Police, Courts, Crime, Armed Forces & the environment. Many are expecting during the speech, the confirmation of the Renters Reform Bill which was announced in the Queens previous speech in December 2019. This will be the first time there are visible details to be debated in the House of Commons and the lettings industry to understand what is to come in the post section 21 vacuum.

26 Apr 2021 Written by: Toby Dawson

Pets in Home

The Housing Secretary Robert Jenrick MP called on landlords back on the 4th of January 2020 to enable responsible tenants to have well behaved pets, now with a 84% spike in dog ownership it makes roughly 44% of UK households home to pets. But do Landlords really want pets?

14 Apr 2021 Written by: Toby Dawson

Government Helps Pay Rent

The future of the post Covid rental industry has become a serious topic after the all-party Housing Communities and Local Government Committee has released a 53 page report.

1 Apr 2021 Written by: Toby Dawson

Summer Eviction?

Landlords currently have to give tenants 6 months notice for a section 21 eviction with a few exceptions to the waiting period. The primary issue for forward movement is the eviction ban which is constantly extended and is now due to end on the 31st of May, but considering the consistent extensions it is challenging for anyone to plan around that date.

22 Mar 2021 Written by: Toby Dawson

Budget Announcement Extends Furlough & Stamp Duty

On 3rd of March the Chancellor of the Exchequer, Rishi Sunak released his 2021 budget which will heavily change the direction of the housing market in England.

9 Mar 2021 Written by: Toby Dawson

Client Money Protection

The Client Money Protection Scheme was brought into effect in March 2019, making it compulsory for all agents to belong to a government approved CMP scheme. One of the primary campaigners for the legislation, the Association of Residential Lettings Agents (ARLA) estimated that £2.7 Billion pounds was held with as much as £700,000 not being protected.

27 Feb 2021 Written by: Toby Dawson

London Exodus

Attention has turned over the last month to the population drop of London which has reduced for the first time since 1988. ESCoE estimations put the number at 1.3 million people leaving during the period of the coronavirus pandemic.

16 Feb 2021 Written by: Toby Dawson

Tenant Loan Scheme

When it comes to tenant debt the English government has been debating while Wales and Scotland have been implementing

27 Jan 2021 Written by: Toby Dawson

O2 Centre NW3 Development

A big announcement came from the 02 Centre in June 2019, where they have released their plans to convert their car park area into a 1,000 home complex. Since then the owner and property developer Landsec have looked to expand the concept into a 2,000 home complex along with a town square and park area.

24 Jan 2021 Written by: Toby Dawson

Happy New Year

From all the team here at Peter Martin we give thanks to everyone that has supported us over the last year.

1 Jan 2021 Written by: Toby Dawson

News Archive for 2021

Rented Properties Require EPC level C

£3 Trillion Property Value Taxed

Holiday Evictions Ban

Rising London Rental Prices

£65 million COVID-19 Rent Support

HMO New Licensing Rules

Furlough Ends

Energy Crisis

Rental Income Tax Raise

Grant for Landlords

Housing Court Reform

Debt Respite Scheme

7 Years Government Paid Heat

London Mayor Demands Power to Control Rent

Stamp Duty Holiday Ending

England June Evictions

Garden vs Parking

London Tenant Interest Increase

Queens Speech May 11th

Pets in Home

Government Helps Pay Rent

Summer Eviction?

Budget Announcement Extends Furlough & Stamp Duty

Client Money Protection

London Exodus

Tenant Loan Scheme

O2 Centre NW3 Development

Happy New Year

Valuations

Specialist Marketing

Property Management

Project Management, Design & Build

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