It’s been the subject of debate between economists and industry experts since March 2009 when interest rates dropped to a record low of 0.5 per cent. But, Governor of the Bank of England, Mark Carney, has finally hinted the Bank Rate may rise as early as the start of 2016. Carney recently announced rates may begin to increase to around the 2.25% mark, albeit at a slow and gradual rate, whilst still remaining significantly lower than the previous historical average interest rate of 4.5 per cent. Paul Flavin of Zing Mortgages discusses how a rate rise could affect homeowners and buyers. Should I panic about what’s to come? Absolutely not.
George took his first sales role at the young age of 16 when he began his working life with an insurance company. Since then he has held various sales positions, each with increasing levels of seniority. More recently, with over 6 years’ experience in the overseas property market, George joined Pace in 2015 as our Senior Negotiator.
The government will be introducing new legislation from 1st October 2015 which states: A smoke alarm must be fitted on each storey of the property where there is a room used wholly or partly as living accommodation. A carbon monoxide alarm must be fitted in any room which is used wholly or partly as living accommodation and contains a solid fuel burning combustion appliance. For the purposes of the above, bathrooms and lavatories are included in the definition of a room used as living accommodation and a ‘room’ includes a hall or landing.
Southend Council officials armed with a warrant raided a house in Devereux Road on the 2nd September 2015 belonging to a private Southend landlord. The Council said he was raided as a result of refusing officers access to carry out a property inspection. Complaints had been received concerning large amounts of rubbish dumped outside the property filling the area outside the basement flat. There had also been an incident of anti-social behaviour resulting in an arrest. The landlord claimed that he could not afford to evict the tenant or renovate the property. He said he had not refused the council access for a visit.
The Residential Landlords Association (RLA) has been asked by the Treasury to put forward proposals that support the Government’s objectives of increasing housing supply and raising standards in the private rented sector. The RLA therefore needs our help as landlords, to explore a range of measures, including: changes to capital gains tax; support for energy efficiency measures and improvements; and, small scale build to rent. This will help the Treasury understand how landlords will respond, if such alternatives were introduced.


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