The Mortgage Works (TMW) has called for EPC regulations to focus on the least energy efficient properties first, rather than expecting all properties to reach a C rating by 2030. TMW recommended for the initial requirement to be for EPC E properties to be upgraded to EPC D by 2030. Requirements could then shift to EPC D properties with the aim of all rental homes meeting the EPC C target by 2033 or beyond. The lender also disagreed with the government’s national cost cap on how much landlords should spend on improvements, arguing that £15,000 is too high. Dan Clinton,…

Tenants and first-time buyers could be left worse off if the government continues to squeeze landlords, industry figures warned. Landlord groups are worried the Chancellor Rachel Reeves could again increase taxes on landlords, after already increasing the stamp duty surcharge from 3% to 5%. Tax experts have suggested that landlords could be forced to pay National Insurance on rental income at a future fiscal event. John Davison (pictured), head of product, proposition & distribution at mortgage lender Perenna, said: “The more you tax landlords, the more you squeeze them out of the market, which means that rents rise and fewer…

Planned changes to the Renters’ Rights Bill will mean landlords will be required to shoulder the risk of damage to properties by pets. Proposed amendments will reverse plans to enable landlords to require tenants to have suitable insurance to cover potential damage by pets. It comes as the House of Lords prepares to debate the Bill at Report stage next week. Ben Beadle, chief executive of the National Residential Landlords Association, said: “This is a shoddy and outrageous way to make law. Ministers keep talking about how the Bill works for responsible landlords and yet they seem incapable of speaking…

The majority of estate agents rely on AI or automated valuation models (AVMs) – despite most distrusting the results. The consensus is they routinely fail to reflect a homes true value, especially in northern lower-income, and rural areas – which means sellers could be missing out on tens of thousands of pounds. Algorithms routinely fail to take into account recent renovations, unique features, or the condition of the property. A spokesperson from Alto, a software company which conducted the poll, said: “AI is encroaching more and more on so many areas of our lives, but housing valuations isn’t one that…

The government wants to reduce energy costs for businesses as part of its ‘industrial strategy’. It will launch a “British industrial competitiveness scheme” from 2027, with automotive, aerospace and chemicals companies being exempt from green regulations. It also wants to speed up grid connections with a “connections accelerator service” launching later this year, which should ensure factories, energy generators and homes can connect to the grid. Richard Beresford, chief executive of the National Federation of Builders (NFB), said: “Construction will build the premises that businesses need, deliver the homes which stop brain drain, and ensure the infrastructure, such as transport…

London needs to allow more high-rise buildings in areas with strong public infrastructure, a think tank has recommended. Centre for London said this could be achieved by enhancing compulsory purchase orders for local councils. The think tank said Outer London in particular needs to densify, while it can use the success of Croydon’s 2022 small sites scheme as inspiration. The organisation added there is also a dire need to increase local housing allowance rates in London, which currently cover just 5% of private rented properties. The benefit is supposed to cover the cheapest 30% of rents in the capital. The…

infinitSpace, the global flexible workspace provider, has appointed Heiko Himme as its new Head of Real Estate for Continental Europe, marking a significant step in the company’s strategic expansion across the continent. With more than 20 years of experience in the commercial real estate and flex workspace sectors, Himme brings deep market insight and a proven leadership track record. He joins infinitSpace after serving as International Partner and Head of Berlin at Cushman & Wakefield, and prior to that as Vice President and Head of Real Estate for Germany, Nordics, and Central & Eastern Europe at WeWork. His career also…

OBS Group has launched a technology-led buy-to-let lending brand called Rely. Rely will use data-led underwriting on a newly created platform, which it said will lead to faster and more accurate decisions. The group said it will be able to handle more complex cases via a digitised post-offer process, integrated with an LMS solicitor panel for conveyancing services and same-day funds transfer. Adrian Moloney (pictured), group intermediary director, said: “By enhancing the group’s current buy-to-let products and services, and placing them under the Rely brand, we’ve effectively created a buy-to-let powerhouse, drawing on the same expertise and experience that our…

The falling number of high-value residential transactions has put more pressure on the government’s finances, Knight Frank estimates show By Tom Bill, head of UK residential reseaach at Knight Frank It’s exactly nine years since 52% of the country voted to leave the EU. The decision was driven by a range of factors including the inflow of people into the country from overseas. Today, the government is concerned that wealthy foreign investors are going in the opposite direction. It follows a decision to scrap the non dom tax regime. Under the old rules, individuals could live in the UK without…

Oliver Novakovic, head of innovation at Barratt David Wilson Homes, has provided seven expert tips for keeping your home cool during a heatwave During the summer months when temperatures soar, staying cool can be challenging, particularly when it comes to getting a good night’s sleep. With the UK experiencing more frequent weather extremes — and areas of South Wales already recording temperatures of up to 31 °C this week — Barratt Homes South Wales is sharing expert advice on how homeowners can keep their homes cooler during heatwaves. The advice is tried and tested by the wider Barratt Group, which…

Gemma Donnelly, head of customer propositions at Gatehouse Bank A recent webinar poll of property professionals showed that many are less confident in buy-to-let this year, instead favouring the first-time buyers’ market or those seeking a new build property. In some ways, this is understandable, as global financial markets continue to face economic uncertainty and recent regulatory changes in the UK have included updates to stamp duty thresholds and the Renters’ Rights Bill. However, despite these challenges, there remains a great deal of opportunity for investors who are willing and able to navigate these changes effectively. According to figures released…

The government has pledged to spend £725 billion in 10 years to boost infrastructure. As part of this commitment £39 billion is going towards affordable housing, as the newly announced National Housing Bank will be capitalised with £16 billion, on top of £6billion of existing finance. Some £9bn per year will also be spent per year on schools, hospitals, courts and prisons. Justin Young, chief executive of RICS, said: “The 10-year infrastructure strategy announced by the UK government is a timely announcement on the back of the new National Housing Bank announced earlier this week. “If we are to meet…

A UK law firm has spoken out against councils for discouraging tenants from pursuing ‘no win, no fee’ compensation claims. Councils across the UK are said to have highlighted cases where tenants have ended up with hefty legal bills after failed claims. This includes examples in York where a was ordered to pay £8,000 in legal costs after their case was dismissed and another landed with a £9,000 bill in Barrow-in Furness after an unsuccessful claim attempt. Rick Law, managing director of Liberay Legal, which specialises in housing disrepair claims, said: “Scare tactics being used by councils to discourage tenants…

The Bank of England has opted to hold the base rate at 4.25% – but its Governor indicated that further rate cuts will happen this year. Andrew Bailey (pictured) said we are “seeing signs of softening in the labour market” which means interest rates “remain on a gradual downward path”. Three members of the Bank’s Monetary Policy Committee voted for a base rate cut to 4.0%, though they were outvoted by the remaining six members. The financial markets expect a base rate cut at the next meeting in August, followed by at least one more by the end of the…

The government has failed to explain how they will ready the courts for the end of Section 21 evictions, prompting frustration from property groups. The British Property Federation, the National Residential Landlords Association and The Lettings Industry Council, have written a letter the Minister in the Lords, Baroness Taylor of Stevenage, expressing their concerns. On July 1st the House of Lords will again consider the effects of the Renters’ Rights Bill, which pledges to abolish no-fault evictions. The issue is the courts are already struggling to cope with ‘at fault’ Section 8 evictions, with it commonly taking landlords over six…

A fake landlord has been convicted of fraud after booking Airbnbs and selling them on as long-term rentals. Samy Daim would advertise the properties on Rightmove and Zoopla, asking for a year’s rent upfront along with a 25% deposit. He also used his own London flat to carry out the scam while his landlord was trying to evict him for failing to pay the rent. Daim stole £10,730 to £19,800 per person, while his victims included teenage students as young as 18. After making over  £200,000 from the grift, as well as posting pictures from exotic locations on social media,…

Tenant applications surged by 35% between April and May, counteracting April’s dip with a strong seasonal uplift. At the same time listings rose by 9% month-on-month, Foxtons data shows. While this means tenant demand is rising, it’s still more measured than last year. There are currently 14.15 renters per instruction, a 14% increase from April. Gareth Atkins, managing director of lettings at Foxtons, said: “London’s rental market came back with real force in May. “We saw a 35% surge in applicant demand alongside sustained growth in supply, a clear sign of a market gaining strength and momentum. “Central London continues…