February 18, 2015
scottfraser Blog: Right to Rent - Are...
The lettings industry is waiting with baited breath for the results of the “Right to Rent” trials currently taking place in the Midlands which will form part of the Immigration Act. If the trials are successful, all Landlords and Agents will be required to follow codes of practice to ascertain whether a Tenant has the Right to Rent.
Landlords will be required to check prospective tenants ID’s and visa status to determine whether they have the Right to Rent and the correct visa for their stay in the UK. The majority of prospective tenants will be British or EEA or Swiss nationals or have an unlimited Right to Rent, but Landlords must still obtain two copies of Identification such as a Passport with Driving License or a Utility Bill.
February 11, 2015
scottfraser Blog: Billions invested in...
Research from the National Landlord Association (NLA) shows that nearly £22 billion was paid in buy-to-let mortgages in 2014.
NLA chairman Carolyn Uphill stated : "These figures really hammer home just how much money private landlords put into providing much needed homes for the UK’s estimated nine million renters, especially if we consider that such a large proportion are single-property or smaller portfolio landlords. It's hard to imagine exactly where all this investment would come from if landlords weren’t financing housing to such an extent."
February 02, 2015
scottfraser Blog: Safety, Compliance...
Renting can be complicated for a landlord as you are legally responsible for ensuring that you have the relevant safety certificates and tests carried out on your property. You have a duty of care to make sure that your property is safe for the tenant, in line with the Housing Health and Safety Rating System (HHSRS): http://goo.gl/0BQH0L.
January 28, 2015
scottfraser Blog: Substantial Family...
December and January have seen a flurry of activity in the Oxford Lettings market, especially for substantial family homes. Previous years have shown that the majority of families will move house during the summer months however this seems to be changing, within the last two months alone, we have seen over 10 properties attaining between £2,000.00 and £4,000.00 per calendar month.
January 19, 2015
scottfraser Blog: The Story of an...
The ever expanding rental market in Oxford is diversifying with a growing number of visitors to the city wanting high quality accommodation that is a home away from home, not a hotel. Short Term Serviced Accommodation can be let anywhere from a week to a few months at a time. A perfect example of this, the recently launched Angevins House, a two bed boutique styled apartment right in the heart of the historic city of Oxford.
Property investors Mr and Mrs Ramsell were looking to develop their portfolio in Oxford and keen to secure the right property. Looking for some guidance they contacted John Gebbels (Property Investment Manager) who had been recommended to them by longstanding scottfraser clients.
January 16, 2015
January Market Comment from the...
2014 was a robust year for property with house prices, according to Nationwide, growing by 7.2% across the UK, following an 8.4% increase in 2013 (www.Nationwide.co.uk/hpi). There were inevitable hotspots, with Oxford remaining key in the market’s development. At scottfraser, we saw a price growth in Oxford of over 10% in 2014.
However, the traditional slowdown in the final quarter of the year was still seen. This has set the tone for what the majority of economic forecasters predict to be a stable market with nominal growth in 2015. Collectively, this analysis features in our regular feedback to the Bank of England in our capacity as their Oxford property market advisers.