Silver Oak Capital

Generation Rent and Shelter have slammed the growing trend of landlords banning their tenants from working from home. As reported by The Independent, there’s been a growing trend for SpareRoom adverts specifying that their renter mustn’t work from their property. Ben Twomey chief executive of Generation Rent: “If you’re paying rent for a home, it should be none of your landlord’s business what you do in it. “Unfortunately, in practice, there is little stopping landlords from imposing draconian conditions on their tenants, because they can threaten a Section 21 eviction if you don’t comply. “It doesn’t matter if an unreasonable requirement is lawful – being able to evict without needing a reason trumps everything. “When the next government reforms tenancies, as all major parties have promised, it must abolish Section 21 and make clear that unfair terms like banning working from home are not legal. That way, the selfish preferences of a landlord will not mean homelessness for a tenant.” The news picked up steam on Twitter/X after a landlord said tenants couldn’t work from home, despite there being a desk in the room. Rubbing salt in the wound, the room was being rented for £1,300. However Ben Beadle, chief executive of the National Residential Landlords Association (NRLA), pointed out that the £1,300 room was for a lodger with a live-in landlord. Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment 

Despite their low-cost, bohemian image, houseboats can cost a pretty penny and often rival the price of a property on land. Now, those living on rivers and canals in London fear they will be priced out of for good as soaring mooring fees threaten their way of life. The Canal and River Trust (CRT) has raised mooring fees at some sites it owns by 10% for two years in a row. The Conservative government previously announced a £300m cut in funding to the trust, due from 2027. For many permanently moored in centrally located marinas, fees have shot up by thousands of pounds. In Ice Wharf Marina, situated along Regent’s Canal in London near King’s Cross station, the annual mooring fees have risen by more than 50% in the past nine years. In 2015, residents could expect to pay about £8,850 for the year with a 10% early payment discount. Now the discount has been cut to 2% and residents face an annual bill of about £15,000. Alexandra Lyons, a university researcher, lives on a houseboat in the marina with her 15-year-old daughter. She bought her boat for £180,000 but says that due to the soaring mooring rates she would be lucky to get £100,000 for it. She previously owned a leasehold flat in Stamford Hill, north London, but sold it at a 30% loss after the building’s owner converted flats in the block into accommodation for prison leavers. “It descended into chaos and became really unsafe. They were threatening to kill my neighbour who was pregnant. It was a really difficult situation,” she said. Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment 

House prices remained “subdued” for a third month in a row in June, as a shortage of properties kept prices high, according to the mortgage lender Halifax. The average house price hit £288,455 last month, down only 0.2% on the £288,931 recorded in May, while house price growth on an annual basis remained unchanged at 1.6%. The latest figures mark the third consecutive month that house prices have stayed relatively stable, with a drop of only 0.3% between April and May, and an increase of 0.1% between March and April. Amanda Bryden, the Halifax head of mortgages, said: “On an annual basis, house prices posted a seventh consecutive month of year-on-year growth, with the average UK property value now standing at £288,455. “This continued stability in house prices – rising by just 0.4% so far this year – reflects a market that remains subdued, though overall activity has been recovering. “For now, it’s the shortage of available properties, rather than demand from buyers, that continues to underpin higher prices.” Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment 

Agents should expect a spike in calls after the election is called, as stamp duty thresholds are called into question. Labour has confirmed that the stamp duty threshold for first-time buyers will fall back to £300,000 in April 2025. As it stands the minimum threshold is £425,000, as it was temporarily raised by Rishi Sunak when he was Chancellor. Moneypenny, which provides telephone answering and live chat services to more than 2,500 property businesses across the UK, found there was a 34% increase in inbound calls for property firms after the 2015 election. Samantha Jones, its director, said: “Politics have a major impact on the property market all year round, but during election season, this is further compounded, and people reach out to experts for answers and support.” After elections it’s common for buyers and sellers to seek professional advice on the new government’s impact on property transactions and whether they’re likely to face increased fees, delays, or, worse yet, broken chains and retracted offers. Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment 

Just over 2 million people in rented accommodation don’t have a fitted smoke alarm, amounting to a huge 17% of the UK’s renters. People living in Greater London are most affected, where nearly 24% of households don’t have one installed, followed by 22% in Northern Ireland. The survey comes from fire safety company Firechief Global. Laurie Pollard, its managing director, said: “In light of these alarming findings, all landlords must check their properties and ensure that the correct fire safety measures are in place to protect tenants first and foremost. “The statistics show a lack of comprehensive adherence to the Smoke and Carbon Monoxide Alarm Regulations 2022 act, which mandates the installation of smoke alarms in rented accommodations. We must raise awareness of the fact this isn’t the case. Local authorities need to take action and enforce these regulations within their jurisdiction.” Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment 

Buy-to-let lender The Mortgage Works has cut rates by up to 0.30% for individual and limited company buy-to-let landlords. Rates start at 3.69%, though most options come with a relatively high fee of 3%. The 3.69% mortgage is a 2-year fix for individuals, while there is a 5-year fix at 4.04%, both of which are to 65% loan-to-value. There is also a 5-year fixed switcher rate at 4.14% available up to 75% LTV. All three options come with a 3% fee. TMW charges a premium for limited company buy-to-let products, as 2-year fixes cost 4.99% with a 3% fee to 75% LTV. There is also a 2-year fixed rate option at 5.69% with a £3,995 fee to 75% LTV. Finally, there is a 2-year fixed switcher rate at 6.49% to 75% LTV. Joe Avarne, senior manager, buy-to-let mortgages at The Mortgage Works, said: “We remain as committed as ever to supporting brokers and landlords, which is why we’re pleased to announce rate cuts across our range. “Our products are some of the most competitive in the sector and, with rates now starting from 3.69%, these new deals will improve affordability and help widen market access for buy to let investors.” Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment