Be afraid -the government wants their big business pals to push private landlords out

Both government and the opposition have separately announced plans for major reviews of housing provision and investment policy.
Housing minister Yvette Cooper announced that Government will conduct a comprehensive strategic review of the private rented sector during 2008, which will be undertaken in conjunction with the Department for Communities and Local Government.
The full terms of reference for the review are to be announced in the New Year, but it looks like it will be similar to the Hills Review of social housing published earlier in the year.
The review will be led by Julia Rugg, an academic at York University, who will examine issues such as how renting can be made to help those who currently cannot afford to buy.
Rather scarily, the British Property Federation (BPF) said it would welcome the government removing some of the barriers that prohibit growth of commercial investment in the professional rented sector, while increasing the flexibility of affordable housing policy and standardising regulation.
The BPF has said that the stability of the market could be made much more certain if we “adopted the blueprint for a professional rented sector along the lines of those currently operating in Germany or the USA”
So what?
The word on the street is that the government would like to dole out tax breaks to the commercial property firms - think REITS - to get them investing in the private rented sector.
Well, private landlords ought to be worried about this because it means the government is keen to get the commercial sector involved in the buy to let market.
Basically, my view is that the state does not like private landlords and would like to see their pals in big business move into the sector to give it “more stability” and I would guess, to develop a long term lettings market.
Private landlords ought to be concerned at the risk of being squeezed out by the big boys। It’s already happening in many parts of the student market where the likes of Unite have a foothold. This could be a major threat.
We are off for a Christmas break -see you again in the New Year.
If you need more advice on buying property below market value or buy to let investment in general please ask me. I’m David Lawrenson from property investment advisors www.lettingfocus.com
I’m the author of the buy to let book “Successful Property Letting - How to Make Money in Buy to Let” the UK’s top selling property title.
I’m an expert on property investing for profit and a well known property freelance writer and I contribute to newspapers and a host of property websites, write a property investment blog and run a landlords advice service - check out my columns for FinancialExpress.net and Archant’s “The Guide” magazine
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services.
You can read more of my property investment blog and details of my networking, advice, property networking programme at my website www.lettingfocus.com.
My next London landlords networking meeting is on March 12th. Click here for details: Property Investment Advice
What’s unique about lettingfocus.com is that we offer independent property mentoring because unlike most people in the buy to let and property “advice” business we are not linked to a property company, developer, agent or bridging loan financier and do not receive commissions from any of these sources.
If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
Copyright: David Lawrenson 2007. This blog is updated at least twice a week. Permission must be sought before using the material in the blog.

Is the buy to let market dead. Answer – definitely not.

As anyone who has come to hear me speak or has read my column will know all properties are not born equal.
We are seeing demand growing strongly for houses, while the oversupply of new-build properties means stalling or falling rents on flats.
The latest lettings survey from RICS shows that demand remains healthiest for family homes with 25% more surveyors reporting an increase in demand .
At the samne time, the proportion of landlords opting to sell properties when tenants move out has risen from 6.1pc to 6.5pc in the past quarter, according to RICS – the highest level since January 2005.
Lots of experts will say this is a sign that higher house prices and falling rental yields are making it difficult for landlords to turn in a profit. It will also re-ignite concerns over the housing market. There are some experts who are warning the buy-to-let sector could be the weakest point in Britain’s property market, with some comparing it to the sub-prime sector in the US
My view is that the problems will be limited to those - mainly new landlords - who have bought flats in oversupplied areas from the less reputable property clubs.
Sure, there will be lots of individual stories of landlords hitting hard times, but savvy landllords will be delighted that the curent turn of events is giving them a great opportunity to buy property at below market value prices.
The auctions are busy with landlords snapping up cheap property and whispering to estate agents., “If you know someone who is really keen to sell, then talk to me.”
If you need more advice on buying property below market value or buy to let investment in general please ask me. I’m David Lawrenson from property investment advisors www.lettingfocus.com
I’m the author of the buy to let book “Successful Property Letting - How to Make Money in Buy to Let” the UK’s top selling property title.
I’m an expert on property investing for profit and a well known property freelance writer and I contribute to newspapers and a host of property websites, write a property investment blog and run a landlords advice service - check out my columns for FinancialExpress.net and Archant’s “The Guide” magazine
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services.
You can read more of my property investment blog and details of my networking, advice, property networking programme at my website www.lettingfocus.com.
My next London landlords networking meeting is on March 12th. Click here for details: Property Investment Advice
What’s unique about lettingfocus.com is that we offer independent property mentoring because unlike most people in the buy to let and property “advice” business we are not linked to a property company, developer, agent or bridging loan financier and do not receive commissions from any of these sources.
If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
Copyright: David Lawrenson 2007. This blog is updated at least twice a week. Permission must be sought before using the material in the blog.

How can I check my credit file?

Many people find they are turned down for mortgage appllciations or other credit and they don’t know the reasons why.
It could be that there is a mistake on their credit file. So, here’s what you have to do.
To get your credit file, all you have to do is contact one of the three main credit reference agencies - Experian, Equifax or Callcredit. By law they have to provide you with your report and the charge for it is currently two pounds.
With Experian and Equifax you can request a paper copy to be sent to you by applying on line - their sites are at www.experian.co.uk and www.equifax.co.uk With www.callcredit.co.uk there is a form at their site which you can print out and fill in along with a £2 cheque or postal order.
If you’ve been rejected for a loan, it could be that you don’t match the customer profile for that product or that you already have too many credit accounts - even though you may be making all your repayments on time.
On the other hand, by not having taken out any credit in the past, you can negatively affect your credit rating – your lack of any payment or credit history can result is a low score. This is a particular problem for people who have not had a UK account or lived at a UK address for a long time.
If you are rejected for a mortgage, ask the lender why – and hold fire on making lots of other applications via other lenders as multiple “foot prints” on your file may damage your rating more.
When you have got the credit file, check that all details are correct. It’s very rare, but it can happen that another person’s credit report may have been mixed up with yours. Even worse that that, you may be the victim of identity theft.
If things are wrong tell the the credit reference agency, who will talk to your lender and highlight the item as disputed. You may also be able to put a "notice of correction" explaining your current financial status – and the reason - which any future lender considering any further applications will see.
If you have had a joint account with someone who has a poor credit record, this will affect you, so if you no longer financially dependent or sharing a joint agreement, tell the agency and they should be able to disassociate you from that person.
Other things you can do are make sure you are registered on the electoral roll at your current address and make loan and card repayments on time.
Also, pay off any old debts including county court judgments and close dormant accounts because lenders look at what your available credit is, even if you are not using it.
If you need more advice on your credit file or buy to let mortgages in general please ask me. I’m David Lawrenson from property investment advisors www.lettingfocus.com
I’m the author of the buy to let book “Successful Property Letting - How to Make Money in Buy to Let” the UK’s top selling property title.
I’m an expert on property investing for profit and a well known property freelance writer and I contribute to newspapers and a host of property websites, write a property investment blog and run a landlords advice service - check out my columns for FinancialExpress.net and Archant’s “The Guide” magazine
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services.
You can read more of my property investment blog and details of my networking, advice, property networking programme at my website www.lettingfocus.com.
My next London landlords networking meeting is on March 12th. Click here for details: Property Investment Advice
What’s unique about lettingfocus.com is that we offer independent property mentoring because unlike most people in the buy to let and property “advice” business we are not linked to a property company, developer, agent or bridging loan financier and do not receive commissions from any of these sources.
If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
Copyright: David Lawrenson 2007. This blog is updated at least twice a week. Permission must be sought before using the material in the blog.