Credit, Collections & Insolvency News
Buying a home could be cheaper than renting in most major UK cities, according to Lloyds Bank analysis. The data shows that first-time buyers can save an average of £225 monthly by purchasing a home instead of renting. Their analysis shows that mortgage payments are typically 17% cheaper than rental costs in most major UK cities outside…
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The Government is being urged to act quickly to prevent delays in the County Court Bailiff system and changes to County Court policy that negatively impact the rented housing sector. The call comes as new research shows that the delays are affecting the supply of rental properties and costing landlords thousands of pounds, as well…
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Landlords selling properties represent the single biggest threat to renters according to latest government data. Among households eligible for support from their council to prevent homelessness following the end of a private rented tenancy agreement, 45 per cent needed help because their landlord planned to sell the property in the second half of 2023. This…
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Figures released by the Office for National Statistics (ONS) has found that the average monthly rent in the UK rose by 9% in the year to February – the highest annual increase since records began in 2015. The average monthly rents hit £1,276 in England, a 8.8% increase year-on-year. In Scotland, they rose by 10.9%…
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New polling shows one-fifth of private tenants have also experienced rent hikes mid-way through a tenancy without their agreement according to New Economics Foundations (NEF). NEF says that the desperate state of the private rental market in England has been laid bare, with new polling which shows four in ten households renting privately (39%) that…
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A survey of agents and surveyors suggests that high mortgage rates have hit property sales, with a net 44% saying they saw a decline in sales agreed in July. The Royal Institution of Chartered Surveyors (RICS) poll saw a net 45% of estate agents and surveyors say inquiries from new buyers fell last month, with…
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Tenants in privately rented properties risk ‘falling through the crack’ when it comes to the recently announced energy bill support, Citizens Advice has warned. The charity has conducted research which found more than one in eight private renters – equivalent to half a million (585,000) people – may miss out on vital support to cope…
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Almost one in ten private landlords renting to Universal Credit claimants have experienced at least one tenant having difficulties paying their rent due to benefit cuts according to research by National Residential Landlords Association (NRLA). In October last year the Government cut Universal Credit by £20 a week following a temporary increase in response to…
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