If you are looking for a spare room, there are a few different options you can explore. One option is to rent a room in a shared living space, such as a house or apartment where you may have your own private room but will share common spaces like the kitchen and living room with other renters. This may be in the owner or landlords own home or a separate shared house such as a HMO (House of Multiple Occupation).
Latest News
Demand Moving from Buying to Renting
With soaring costs for home owners in terms of energy prices, inflation and with added interest rate increases, it’s hardly surprising the UK Property sector is in some turmoil.
With these rising costs we are seeing a shift in demand from buying to renting. Whilst this means there will be further pressure on monthly rent prices, the risk for first time buyers stepping in to the housing market, for many, seems just too high to take that leap. Added to the high costs there is an expectation that house prices will fall, potentially leaving new buyers in a negative equity situation, increasing the risks still further.
Autumn Statement - Bad News For Landlords and Tenants?
Chancellor Jeremy Hunts’ Autumn Statement has
been much anticipated, not least by the Private Rental Sector and Landlords in
general.
With many hoping for some good news with measures set to ease the
financial pressure on Landlords, it was disappointing to see that little help
was provided. With the introduction of Section 24 back in 2015, increasing the
tax burden on buy-to-let income, many opted to set up Limited Companies to
benefit from some relief and transfer rental properties in to that entity.
Interest Rates May Have Peaked, Good News For Landlords?
Mortgage interest rates have been a hot topic in recent months and a major worry for home owners, buyer and Buy-to-Let landlords alike with Bank of England raising base rates to 3% on November 3rd 2022. The rate has steadily increased from an all time low of just 0.1% during the Covid pandemic.
With increases in the Bank of England base rates and turmoil in the UK financial markets, we saw many mortgage products removed and interest rates hikes for new and remaining products.
With increases in the Bank of England base rates and turmoil in the UK financial markets, we saw many mortgage products removed and interest rates hikes for new and remaining products.
Landlords Looking to Sell
Turbulence, extra regulation, higher interest rates, changes to tax rules and other aspects are having a major impact on the Private Rental Sector.
As available rental stock drops and rents increase, it has been claimed that over 25% of landlords or buy to let property owners are looking to sell in the near future. This claim comes from research carried out by cherryplc.co.uk. It also shows that a larger percentage of buy to let landlords will increase rets over the coming months.