News: February 2017

LETTINGS NEWS: How letting agents can help landlords handle raft of new rental rules

22/02/17

Many landlords are baffled by the complex and changing laws and regulations that govern the letting of flats and houses, new research suggests. A survey of almost 4,000 landlords by a lettings organisation reveals that almost three quarters of landlords are not aware of all aspects of the mandatory immigration checks that must be conducted on new tenants (called Right To Rent); over a third are unsure…

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SALES NEWS: The ‘Three Ps’ – we reveal the essential strategy to sell your hom

22/02/17

A new survey of 5,000 buyers has revealed that in the south west, 48 per cent of people visit six or more homes before they make an offer. Findings by East of Exe support this result: our buyers are often well-informed and spend substantial time researching and viewing competing properties before committing. This backs up the need for what we call ‘The Three Ps’ – a successful…

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LETTINGS NEWS: Good news for landlords as rent market stability confirmed

20/02/17

One of the most authoritative indices of the private rental sector suggests that average rents in the south west have remained almost unchanged over the past year. HomeLet, which closely monitors the lettings sector, says south west rents rose 0.5 per cent in 2016. This is good news for landlords because it shows rents have not dropped despite a surge in the number of homes available to…

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SALES NEWS: Cheaper mortgage rates help make housing affordable

20/02/17

The Halifax says buying a house is no more expensive for many people now than in 2015 – despite house prices having risen around seven per cent on average since that time. This is because while prices have risen, two other factors have come in to play. Firstly, mortgage costs over the same period have fallen thanks to last year’s further re-duction in the Bank of England…

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LETTINGS NEWS: Two months to prepare for landlords’ tax relief changes

17/02/17

It’s now just two months before some landlords with buy to let properties will encounter the first phase of changes to how their mortgage interest tax relief is applied. Currently tax is due on profits at your highest rate of income tax. But from April this year, and each April until 2020, this system will be changing gradually. The government’s goal is that by 2020 all landlords…

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SALES NEWS: Mortgage market improves as lenders cut rates to woo more buyers

17/02/17

The amount of money lent as mortgages last year across the whole of the UK hit £246 billion – that’s 12 per cent higher than in 2015, and the largest total for the past 10 years. In another sign that the housing market remains strong despite economic and political uncertainties, a spokesman for the Council of Mortgage Lenders says: “Approvals for house purchase have recovered strongly. The…

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LETTINGS NEWS: Government boost for rental sector – but few new rule changes

15/02/17

The government’s Housing White Paper says it wants to see renting promoted as a more attractive option for the public, and not treated as a second-class option. This is good news for existing landlords and others considering investing in buy to let for the first time. The White Paper confirmed that up to 30 per cent of households may be privately renting in the next 10 years…

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SALES NEWS: It’s a sellers’ market thanks to a shortage of supply

15/02/17

One of the most authoritative monitors of the housing market says the ball is firmly in the court of sellers in the coming months thanks to a shortage of homes on sale. The Royal Institution of Chartered Surveyors says the stock on the market of most estate agents is nearing a historic low, even taking into account the winter weather – and the East of Exe agency…

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