Will the Government Spending Review impact your tenants?

HomeLet the Landlord and Tenant property insurance company has just sent out it's latest news letter to aagents. jml Property Services have been HomeLet agents for many years now.

The Coalition Government has put deficit reduction at the heart of its economic policy, arguing that the poor state of the UK's public finances poses a greater threat to economic recovery than cuts in spending.

According to the independent Institute for Fiscal Studies (IFS) the government's Budget measures will cut 77% of the £86bn through spending cuts, and the remaining 23% through tax increases. These cuts are likely to have a huge impact in most areas of the UK.

In cities like Liverpool the problem is exaggerated by the fact that almost 40% of all employment is in the public sector which faces the most change, this is an additional burden on the economy of Liverpool – hindering its recovery from the effects of the worst recession in living memory.

The number of tenants defaulting on their rent is likely to soar following minimal change in the rate of unemployment which is currently standing at 7.8% and additional job cuts which are likely to feature as a result of public sector spending cuts.

Commenting on the cuts HomeLet Managing Director John Boyle, said “Unemployment will get worse over the next few months as the affects of spending cuts start to have an impact on local economies. This could impact many tenants’ ability to pay the rent. For many landlords, especially those with geared investments the risk of rental arrears is a real worry.

“In 2009 we paid out £3m in Rent Guarantee claims and I expect this figure to rise in 2010, and in 2011. Landlords who are concerned about rent arrears need to talk to their local professional letting agent about comprehensive referencing and rent protection insurance.”

For more information about HomeLet Insurance Products Click Here

Clocks go back this weekend make sure your insurance is up to date

As the clocks are going back this weekend and the nights are getting longer, it is important that property owners turn their lights on and protect their properties from burglars.

During the winter months properties left in darkness in a street where all the other properties have lights on are much more likely to be targeted by criminals.

Install lights with plug-in automatic timer controls - timer lights convince any potential burglar that you're at home.

Have the lights switching themselves on and off in the bedroom, hall, kitchen, lounge and bathroom.

Make your home look occupied when you're out. Set the lighting timers to come on when it gets dark.

Switch lights on earlier (late afternoon/early evening) during the winter months when it gets dark earlier. In winter, it can get dark in the afternoon.

Another good idea to use a plug-in timer on your radio to make it sound as if someone is at home. Choose a radio station that has more talking than music like Radio 5 Live for excample.

If you're out or going away, ask a trusted neighbour to close your curtains for you.
If your curtains are not going to be drawn while you are out, consider using timer switches on low table lamps around the room, rather than the main ceiling light.

Install sensor lights on external walls of your property.

Make sure your windows and doors have adequate locks, you do not keep sat navs in view in a parked car or other valuables.

Keep your insurance up to date and if you are looking for Property Motor Travel Pet insurance and a lot more there are a lot of companies advertising on the jml Insurance Promitional site HERE

HomeLet Insurance is trialling Princes Trust Initiative

27th October 2010 - NEWS RELEASE from HomeLet The Landlord and Tenant Insurance People.

HomeLet is trialling an initiative that allows employees to take one day’s paid leave per annum to undertake community activities and projects in support of the Princes Trust.

As part of the Barbon Insurance Group, the trial at HomeLet is being offered to all staff as part of the Group’s ‘Give Something Back’ campaign. This commitment to the community has seen 20 applications so far from employees who are looking forward to working with young people at the Trust, with a view to rolling the scheme out across the entire Group.

HomeLet, which is part of Barbon’s highly successful Lettings business, is focused on supporting a growing network of more than 3,000 letting agents throughout the UK, delivering fast, accurate and intelligent references for around one in five private tenants who rent property in the UK.

Managing Director at HomeLet, John Boyle, says: “This partnership with The Princes Trust gives our employees the opportunity to volunteer to support young people who are preparing to enter the world of work. It also gives them the chance for personal development by undertaking training, coaching or even being a buddy to a young person in the office.”

Plans are now underway at HomeLet to match volunteering opportunities to the company’s budding coaches and volunteers and to ensure that they have the correct skill set to take on the responsibility.

CEO of Barbon Insurance Group, Martin Oliver, concludes: “With around one in five young people in the UK not in work, education or training, it is important to support initiatives such as the Princes Trust, which does so much in this area.”

More Information about HomeLet

 HomeLet is the UK’s largest tenant referencing, Rent Guarantee and specialist insurance provider for the lettings industry and has around 3,000 approved letting agents nationwide.
 HomeLet pays out an average £3m in Rent Guarantee claims every year.
 The National Housing Federation recently announced that the average age of a first time buyer has risen to 43.
 HomeLet have been shortlisted for the 2010 Landlord & Letting Awards.
 HomeLet is a proud partner of the 2011 Estate and Letting Agent Awards

Find out more about Homelet Landlord and Tenant insurance products Here

ABI Comments on flood investment Plans

The Association of British Insurers issued a Press Release on the 21st October "Spending Review – ABI comments on flood investment plans" 20th October 2010

Commenting on the announcement, in today’s Spending Review, on flood defence investment,
Nick Starling, the ABI’s Director of General Insurance and Health said:

“The Government is right to recognise the importance of continued investment in flood
defences. But we are disappointed that this will not be maintained at current levels,
given the scale of the problem and the wider economic benefits provided by flood
defences to our communities and businesses.

“We urgently need a long-term plan to tackle the rising flood risk this country faces
over the next 25 years, especially as the Statement of Principles on Flood Insurance
comes to an end in 2013.

“In the last spending review, the previous Government committed to £2.15 billion for
three years 2008 - 2011. Today, the Government committed £2 billion over four years
2011- 2015”.

Further Information

The UK insurance industry is the third largest in the world and the largest in Europe. It is
a vital part of the UK economy, managing investments amounting to 24% of the UK’s total
net worth and contributing the fourth highest corporation tax of any sector. Employing over
275,000 people in the UK alone, the insurance industry is also one of this country’s major
exporters, with a fifth of its net premium income coming from overseas business.

Insurance helps individuals and businesses protect themselves against the everyday risks they face, enabling people to own homes, travel overseas, provide for a financially secure future and
run businesses. Insurance underpins a healthy and prosperous society, enabling businesses
and individuals to thrive, safe in the knowledge that problems can be handled and risks
carefully managed. Every day, our members pay out £155 million in benefits to pensioners and long - term savers as well as £58 million in general insurance claims. Source ABI

Do you live in an area that is affected by flooding or having difficulty getting insurance for your property? Then click Here

Spain and Italy doing well despite drop in Property searches

According to a posting on the Intasure Holiday home and second home insurance website blog:-



New figures have revealed a drop in overseas property hunters during September, but some countries continued to perform well.

An overall drop in the number of Brits searching for an overseas property in September failed to rock the robust housing markets in Italy and Spain.

Although figures from Rightmove and Moneycorp revealed a 17 per cent drop in the number of people looking to become holiday home insurance customers compared to August, interest in Italy remained high, and property searches in Tenerife rose by 3.79 per cent.

Among the biggest losers was Greece, where searches fell by a huge 24.46 per cent, with the nation's perilous financial conditions undoubtedly playing a part in putting buyers off.

David Kerns, dealing manager at Moneycorp, said: "In addition to seasonal effects, the decline in searches for overseas property could also be due to the weakening of sterling throughout September against most major currencies."

Shelter Offshore advised property hunters that Spain could offer a relaxed and cultured place to live for retiring Brits.

Intasure is an international building and contents insurance specialist with a proven track record in pioneering new products. For more information Click Here

HomeLet Insurance encourages Landlords to think about Rental Guarantee as difficult times face tenants

HomeLet Landlord and Tenant Insurance PRESS RELEASE - Thursday 21st October 2010

After months of speculation, the UK's "age of austerity" has begun; the government has announced the results of its Spending Review. HomeLet, the market leading provider of tenant referencing and Rent Guarantee services warns landlords these results could result in additional job losses and tenants defaulting on rent.

The coalition Government has put deficit reduction at the heart of its economic policy, arguing that the poor state of the UK's public finances poses a greater threat to economic recovery than cuts in spending.

According to the independent Institute for Fiscal Studies (IFS) the government's Budget measures will cut 77% of the £86bn through spending cuts, and the remaining 23% through tax increases.

It’s likely the spending cuts announced yesterday will come mostly from the public sector, these cuts are likely to have a huge impact in most areas of the UK and in particular Liverpool.

In Liverpool the problem is exaggerated by the fact that almost 40% of all employment is in public sector which faces the most change, this is an additional burden on the economy of Liverpool – hindering its recovery from the effects of the worst recession in living memory.

The number of tenants defaulting on their rent is likely to soar following minimal change in the rate of unemployment which is currently standing at 7.8% and additional job cuts which are likely to feature as a result of public sector spending cuts.

HomeLet processes around 30,000 tenant references every month, a majority of which are for applicants aged between 18 and 24.

“Youth unemployment is at its highest rate for 15 years and it will get worse over the next few months as the affects of spending cuts start to have an impact on local economies,” said John Boyle, HomeLet’s Managing Director.

“This could have a significant impact on the private rented sector in regions which rely on young people entering full-time employment and moving into rented accommodation, rather than staying in the family home”

“For landlords, particularly those who rely on the monthly rental income from their property to pay the mortgage, even one month’s arrears in this financial climate can spell disaster.”

“To avoid becoming a victim of these spending cut changes John encourages landlords who are concerned about rent arrears to consider taking out rent protection insurance.”

“In 2009 HomeLet paid out £3 million in Rent Guarantee claims and I anticipate that this figure will continue to rise during the remainder of 2010 as more and more tenants find themselves out of work and unable to meet their financial commitments" John commented.

“But, we also understand that finding a rented property whilst you’re unemployed can be hard, that’s why HomeLet Rent Guarantee can even cover unemployed tenants,” said John.

HomeLet’s Rent Guarantee policies, available through approved letting agents, cover rental payments for up to 12 months and all legal costs incurred in evicting the tenant as a result of non-payment of rent up to a maximum of £50,000, depending on the policy.


 HomeLet is the UK’s largest tenant referencing, Rent Guarantee and specialist insurance provider for the lettings industry and has around 3,000 approved letting agents nationwide.
 HomeLet pays out an average £3m in Rent Guarantee claims every year.
 HomeLet have been shortlisted for the 2010 Landlord & Letting Awards.

More Information about HomeLet Insurance Products HERE

Rentguard Insurance Update

Equity Red Star has joined the Rentguard Insurance panel of insurers who underwrite their Owner Occupied Buildings and Contents and Tenant Contents Insurance policies.

These insurances cover the loss or damage from standard perils on buildings, contents and personal possessions for Owner Occupied policies and contents and personal possessions for Tenants Contents policies – with full accidental damage cover available as an addition for both.

For more information about Rentguard Insurance Products Click Here

HomeLet Mousemat for Tenant's Contents Insurance

HomeLet agents received a mousemat in their post recently. HomeLet the major Landlord and Tenant insurance provider in the UK




The theme of this mousemate is Tenants love HomeLet insurance because of the following:

• There's one easy rate for the whole of the UK


• They help to protect their deposit


• It takes less than 5 minutes to arrange cover


• Tens of thousands of tenants trust HomeLet to protect their belongings


• HomeLet pay out £6 million in claims each year


• Homelet helped 1 million tenants move in the last three years.

HomeLet have made some exciting changes to their popular Tenant's Contents Insurance+

• They have given the literature a brand new fresh look
• The application form for applying for Tenant's Contents Insurance has been simplified and is much easier to fill out.
• They now have a simple pricing structure no matter where a tenant is located in the country.
• Policies can now be arranged six months in advance of the start of the tenancy- this is something that HomeLet has found particularly popular for students, doctors and teachers because they often know where they're going to be living far in advance of starting their job or studies. Most tenancy agreements now include a clause stating that the tenant must take out his/her own insurance to cover the personal belongings and the agent or landlord need to see this before the tenant moves in.

To find out more click on this link

Insurance 4 half term holidays

We are now in mid October and despite announcements of Government spending cuts in the UK this week, life still goes on.

Many people will be taking half term holidays in the next few days and as the last days of summer have now gone and colder weather unfortunately on its way are heading off to hotter destinations for a short break that will take them through to Halloween. Some people of course prefer a city break.

So if you are off to the Algarve or Amsterdam make sure that you have proper insurance. As a lot of people now make their travel arrangements You will need Travel Insurance. Holiday delayed? Missed departure? Lost your passport? Personal money stolen? Catastrophe, fire, flood, earthquake or storm, Medical Emergency, Hospital, Emergency Dental Treatment, Legal Advice, Mugging etc are just some of the reasons to do this. You will need to check carefully what is covered and not covered when you buy Travel Insurance.

You can now also buy Financial Failure Insurance, Pre-existing medical Travel Insurance, Kidnap & Ransom Insurance, Ski and winter sports insurance and Emergency Medical Travel Insurance. The over 50s age group are not forgotten either and with more and more people who have finished their working career, but have a good disposable income taking a break it is essential that they too have the appropriate cover.

The jml Insurance site has a lot of insurance companies advertising their products. You make the arrangements direct with the provider on line. Companies include Direct Travel, Essential Travel, Endsleigh, Staysure, Simple, Primary, insureme4, JS Insurance, Travel insurance Medical, Travelplan Direct, Protect my Holiday Home, Kinsure and Equity and General Insurance Services.

Find out more Here

When you take your break, you will often hire a car. When you rent a car you need to insure the excess on your hire car with a daily insurance policy daily policy from around £1.94 per day or with an economical annual policy from around £40.00 a year. Do you know that it could cost you £500) or more for any damage to your rental car? This is even if it is not not your fault.

When you rent a car, you will find that your car rental agreement normally includes cover for Collision Damage Waiver - CDW (damage to the rental vehicle) and Theft. There is almost always an excess on the Collision Damage Waiver and Theft.

You are however still liable for the Excess on CDW and Theft. When a rental car is damaged or stolen, the driver is asked to pay the first portion of the repair or replacement costs. This is known as the Excess.

You can of course do this via the car hire company; however it will normally cost you a lot more money to do this that way. The easiest way is to buy your “excess insurance” in advance. If you are taking several holidays (or business trips) in a year, the cheaper way is to buy an annual policy and prices start around £40 per year for European cover.

The insurance4carrental.com website has a very good selection of car hire, motorhome hire and van hire excess insurance companies who advertise on the site. You make arrangements direct and what is more several of them offer insurance for “older drivers” up to the age of 85 years old.

Companies advertising include Essential Travel, Insurance4carhire, iCarhireinsurance, Questor, Daily Excess, Odyssey and insuremyvanhire..

Find out more Here

Have a great Half term holiday break

Landlord & Letting Awards to take place November 17th 2010

People with buy to let insurance and others in the property sector might like to note that the 2010 Landlord & Letting Awards is set to take place on November 17th at the Birmingham NEC.

Thus far, 400 entries have been received, with categories including campaigner, financial services, furniture, landlord of the year, letting agent of the year and best website.

Those who are successfully shortlisted will be able to attend a ceremony at the Hilton Hotel, hosted by businessman, TV presenter and landlord Craig Phillips, who set up his own company in the 90s and, after winning 2000's Big Brother series, raised more than half a million pounds for charity.

Finalists include: Landlord Action, LettingFocus, the Association of Leasehold Enfranchisement Practitioners and the Residential Landlords Association.

Last year's winners include: Lanes Lettings & Management, Reardon Properties, PestFreeHome and David Phillips Furniture, as well as Property Earth and Umbrella Property Rentals.

Simple is a trading name of TPS (Insurance Admin Services) Limited. TPS (Insurance Admin Services) Limited is authorised and regulated by the Financial Services Authority (number 311788). Registered Office:Cast House, Old Mill Business Park, Gibraltar Island Road, Leeds, West Yorkshire, LS10 1RJ. Registered in England number 02587396

Source Simple Landlords Insurance

See also: HomeLet & Simple insurance amongst those shortlisted for Landlord & Lettings Awards 2010

For more on Simple Landlords Insurance - Click Here

HomeLet & Simple insurance amongst those shortlisted for Landlord & Lettings Awards 2010

HomeLet and Simple the rental property insurance providers have been shortlisted for the innovation and insurance awards.

The Landlord & Letting Awards are the premier nationwide private rented sector awards in the UK. Trophies will be presented by TV presenter, businessman and landlord Craig Phillips, at a glamorous awards ceremony at the Hilton Hotel, Birmingham NEC,Birmingham on Wednesday 17th November.

The judges are Oliver Romain the Editor of Landlord & Buy-to-let Magazine, Marie Parris a Property Consultant and Founder of George Ellis Property Services, Peter Littlewood - Director of Southern Landlords Association, Alan Ward who is Chairman of Residential Landlords Association, Ian Potter who is the Operations Manager of ARLA - The Association of Residential Letting Agents and Kate Faulkner who is a Market Analyst and Commentator, Designs on Property.

Commenting on the news HomeLet Sales, Operations and Marketing director, Heidi Abbott said: “It’s fantastic to be shortlisted for the awards and a testament to the professionalism, hard work and commitment of everyone at HomeLet. Businesses from across the UK enter these awards. My fingers are now crossed that we bring home a trophy!”

According to the "landlordsawards" website other finalists in the "Insurance" category are:
Fasttrak
Hamilton Fraser Insurance
Just Landlords
Landlordsure.co.uk
Residential Landlords Association
Simple Landlords Insurance

For more information about HomeLet Insurance - Click Here

For more on Simple Landlords Insurance - Click Here

Subsidence and underpinned insurance - Help is here

Are you having difficulty trying to get insurance for your underpinned property?

We have heard that a major player who specialises in placing cover for underpinned or subsidence property is having issues about placing cover or offering renewal to both direct clients and those placed through other brokers.

It is hard to have gone through the hell of having the house underpinned then perhaps paying a far higher premium than normal which also no doubt was a complex problem to get the quotation in the first place, you had to pay for additional surveys before you could the quotation then perhaps were shocked at the high premium?

We are pleased to advise of a specialist provider who can offer you stress free affordable cover without the need for additional surveys and most importantly they guarantee that when you sell the property the cover will pass to the buyer.

No other provider makes that guarantee.

Naturally you will want further information if you are a homeowner or insurance broker who is looking for an insurance company who will be able to help your clients.

Click Here to contact them

HomeLet Rental Index shows surge in rents

News Release from HomeLet Insurance just in - 12th October 2010

HomeLet Rental Index shows surge in rents for the South West

The latest HomeLet Rental Index shows that the cost of the average rent in the South West of the UK increased by 6.78% in September when compared to August. This is the largest month on month increase for any region in the UK during 2010.

Commenting on the latest Rental Index HomeLet Sales, Marketing and Operations Director, Heidi Abbott explained; “The latest HomeLet Rental Index reiterates the fact that the sustained demand for rented property over the summer has continued to out pace the supply of available properties in the UK. This demand has pushed up rental values, particularity in the South.

“Recent figures show that constraints in the UK sales market have pushed the average age of first time buyers to 43. An increasing number of people are now looking at renting as a longer term option, either through choice or because of a lack of available funds for a deposit.

“There’s no doubt that the importance of the private rented sector has increased significantly over the last decade, it’s now a key element of the UK’s fragile housing supply chain, but the lack of available properties to rent is a real concern. The market has recently seen an increase in the availability of buy-to-let mortgages, but these remain expensive for investors with less than 20% equity. The increase in Capital Gains Tax has also proved to be a barrier for potential investors and the ongoing supply constraints will continue to support increasing rents in the near future.”

When comparing September 2009 against September 2010, the HomeLet Rental Index showed that rents have risen in all regions of the UK except for the North East, which has seen a small decrease in rents of just 0.94%.

Heidi continued: “We’ve found that many letting agents across the UK are struggling to find enough landlords to meet the demand from their potential tenants, but those who have diversified their business models to include our range of specialist insurance products are continuing to thrive even in these difficult conditions.”

More information about HomeLet Insurance

As the UK’s largest tenant referencing firm HomeLet referenced over 37,000 individuals in September alone. The HomeLet Rental Index shows the actual rental amount that tenants are referenced for by letting agents across the UK. In some cases advertised prices can vary from the final rental value, so HomeLet’s report gives an alternate view on rental prices in the UK.

 HomeLet is the UK’s largest tenant referencing, Rent Guarantee and specialist insurance provider for the lettings industry and has around 3,000 approved letting agents nationwide.
 HomeLet pays out an average £3m in Rent Guarantee claims every year.
 The National Housing Federation recently announced that the average age of a first time buyer has risen to 43.
 HomeLet have been shortlisted for the 2010 Landlord & Letting Awards.

HomeLet is a trading name of Barbon Insurance Group Limited which is authorised and regulated by the Financial Services Authority. Registered in England number 3135797. Registered office address: 4-9 Highview, High Street, Bordon, Hampshire GU35 0AX.

Looking for HomeLet Landlord - Tenant insurance Products? Click HERE to visit their site

Insurance for Business and Home in the UK & Northern Ireland

Equity & General Insurance Services are pleased to announce that they are able to offer help with the following insurances

Retail Shops

Cafes and restaurants, including takeaways

Offices

Landlord & Property Owners

Motor Fleets

Commercial Combined Insurance

Public Liability

Professional Indemnity

Business and professional insurance

They can also help provide insurance for Non Standard risks such as:

Property on flood plains, or where there is a history of flood related claims

Underpinned properties, or those at risk from subsidence

Ex offenders

Bankrupts, or those with a bad credit rating

Poor claims record

To contact them CLICK HERE


Equity and General Insurance Services Ltd -Suite 1, Bloxam Court, Corporation Street, Rugby, Warwickshire, CV21 2DU. Equity & General Insurance Services Ltd is authorised and regulated by the Financial Services Authority. OUR FSA NUMBER IS 474163

Registered address: Target Winters, 29 Ludgate Hill, London EC4M 7JE. Registered in England and Wales No: 3314593

Flooding won't happen to me

Like many home owners across the country you might receive a similar leaflet through your letter box.

Whilst it does not say a great deal, Equity and General Insurance Services Specialist Insurers can help you if you have been flooded or live in a flood area.

For more information Click Here

See also: Flood Line Action Groups Help is Here
and Insurance expert helps a lady in Ulverston, Cumbria

The Golden Age for The Landlord?

Following a recent statement issued by the Association of Residential
Lettings Agents (ARLA) commenting on the current buoyant market the lettings
industry is currently experiencing, according to one Lincoln-based lettings agency there has never been a better time to be a landlord – an opinion that would seem to be backed up by ARLA's recent statement.

Tim Clark, Managing Director of Lighthouse Property Services, has seen his business go from strength to strength in recent months, and this buoyant outlook looks set to continue as rental voids hit an eight-year low.

The Association of Residential Lettings Agents (ARLA) recently reported that the average void period – a key indicator of the buoyancy of the rental market – has fallen to its lowest level for eight years as demand for rental property remains high.

In a survey of ARLA’s members, the average void period has again fallen compared with the previous quarter from 3.6 weeks to 3.2 weeks and the average void period of the whole country is down quite sharply in its third consecutive fall.
“The demand for rental property continues to rise in Lincoln as more and more people struggle to get onto the housing market or find themselves unable to keep up with mortgage payments,” said Tim.

“As this trend looks set to continue we are looking forward to another record year in 2011.

“This statement from ARLA comes as no surprise to us, as it seems the demand for rental property is continuing to rise across the country.”

Lighthouse Property Services was established in 2001 and is a residential and student lettings agency operating in Lincoln. The company also offers UK buy-to-let and overseas investment opportunities.

So what did the ARLA Press Release say on the 6th October 2010?

Rental Demand Reaches Record High ‘Generation Rent’ must be given Regulatory Protection

The number of tenants seeking rental properties has reached an eight year high, according to research from the Association of Residential Lettings Agents (ARLA).

Letting agents from across the UK have reported a significant shortage of available rental properties as tenant demand far exceeds supply. Ian Potter, Operations Director of ARLA, said: “The market has bounced back in a way that no one could have predicted to levels of demand that have not been seen since the last century.

“More than 70 per cent of our agents have stated that consumers coming to their offices are being forced to rent because of the pressure exerted on potential home buyers.

This is real evidence of a generation forced into renting and the Government must recognise the need for regulatory protection for them.

“As a minimum this must include consumer redress through an Ombudsman and Client Money Protection similar to an ABTA Bond. Our members offer these benefits to the consumer be it a landlord or tenant.”

The levels of demand are the highest since the ARLA survey began nearly a decade ago and are more than double those experienced at the peak of the property boom in 2007.

Demand is highest in the south east of England where 81 per cent of agents have stated that there are more tenants than properties compared to 67 per cent in the rest of the UK and 73 per cent in Central London.

“It has to be hoped that this unprecedented growth in the rental market will attract much needed investment into the private rental sector as it copes with the huge surge in demand from a generation who cannot afford to buy,” explained Mr Potter.

“‘But we must ensure that Generation Rent’ receives as much help as possible from the Government to ensure the proper regulation of the sector.”

Notes: About ARLA’s research

The data from the ARLA Members’ Survey of the Private Rented Sector, covering Q2 2010, was drawn from 570 offices. The data from the ARLA Survey of Residential Investment Landlords, covering Q2 2010, was drawn from 302 landlords during June 2010. Together, these reports form the ARLA Review and Index. All surveys and statistics can be downloaded from www.arla.co.uk.

More information about ARLA

The Association of Residential Lettings Agents (ARLA) was formed in 1981 as the professional and regulatory body for letting agents in the UK. Today ARLA is recognised by government, local authorities, consumer interest groups and the media as the leading professional body in the private rented sector. ARLA is a sister organisation to the National Association of Estate Agents (NAEA). In May 2009 ARLA became the first body in the letting and property management industry to introduce a licensing scheme for all members to promote the highest standards of practice in this important and growing sector of the property market. Both ARLA and NAEA members are governed by Codes of Practice providing a framework of ethical and professional standards at a level far higher than the law demands, and both Associations have their own complaints and disciplinary procedures so that any dispute is dealt with efficiently and fairly.

See also: Buy to let Opportunity in High Wycombe

Flood Line Action Groups – Help is here

Fear not if the rising cost of flood insurance is giving you sleepless nights. The flooded area / flood affected insurance Expert Neil Cook of Equity and General Insurance Services is able to provide affordable premiums for property or business owners in the worst affected areas of the country and also in the flood plains.

They obtain cover where others fail and substantial savings over existing insurers with cover provided by Lloyds of London.

No matter how large your claim was or what your personal circumstances are, including those with criminal convictions, they promise to help you and include an unconditional guarantee to pass the policy onto any future buyer of the property.

They have helped countless clients in area of England, Scotland, Wales and Northern Ireland covered by local Flood Action Groups such as Keswick Flood Action Group, Brandesburton and North Frodingham Flood Action Group, The River Quaggy The Rea Valley Flood Action Group, Brockenhurst Village Flood Plain, Moffat & Eskdalemuir, River Hull Flood Action Group, Weston Riparian & Flood Action Group, Moreton Flood Resilience Group, Oxford Flood Alliance, Wolvercote FloodWatch, South Oxford Flood Action Group, Haydon Bridge Flood, Lewes Flood Action Steering Group, Bourton on the Water and Fairford lewes-flood-action, Abbey Foregate Flood Action and The Stock Beck Flood Action Group

For more information Click Here

See also: Insurance expert helps a lady in Ulverston, Cumbria

Buy to let Opportunity in High Wycombe

Last night Channel 4 News featured the state of the UK "Buy to Let" market. Despite the general state of the economy, the Buy to Let sector is doing well. The October edition of "Landlord & Buy-to-Let Magazine" has just come out and there is a report on page 2 entitled " Rents increase in buoyant market" - The lettings market remains buoyant, as demand and a shortage of properties pushes rents higher, says the latest RICS Residential Lettings Survey.

High Wycombe in Buckinghamshire is a very popular location for the Buy to Let market. Located close to the M40 and with the A40 and A404 running through the centre. It is on the Birmingham to London Marylebone efficient Chiltern Railways network and there are out of town shopping facilities including John Lewis Home and Leisure and a modern town centre Shopping Centre "Eden" that houses a cinema, bowling alley. House of Fraser department store, Marks and Spencer and across the Oxford Road a large new Sainsburys.

Right in the centre on the A40 / A404 junction is BNU - Bucks New University (opposite Wycombe Hospital). The old Buckinghamshire Chilterns University College is now in one High Wycombe location with a newly built wing that has taken in the accommodation from the Newland Park, Chalfont-St-Giles and Wellesbourne campuses. They have purpose built accommodation for students close to the town centre, but like so many universities this really is for first year students.

So students need accommodation, employment is good in the area with all the excellent communication and business park at Cressex. The property prices are lower than Marlow, Beaconsfield and Amersham and there is a good choice. This means there is a great rental market.

A couple of minutes walk away in Rutland Court, Rutland Street, High Wycombe is an ideal buy to let property. So close to the new Eden shopping centre you don't need to take your car so you can leave it home walk to the Eden to shop or be entertained in the vening to bowling, cinema or eating in a selection of restaurants or pubs.

This flat that is in very good condition is available with no onward chain. The property comprises: security entry system, entrance hall, living room, kitchen, double bedroom, electric heating, double glazing, resident parking, communal gardens.

Wye Estate Agents are marketing this and the asking price is only £139,950. You won't get much closer to the town centre and is ideal for first time buyers or the Buy to Let investor. If you have a son or daughter studying at BNU what you can do is buy this flat and when they have finished their studies, let it out. It is only a couple of minutes from the hospital as well.

Wye Estate Agents can be contacted on 01494 451300 . They don't appear to offer a lettings service, however there are several excellent well established letting agents in High Wycombe.

Checking on "Rightmove" today there is in fact a flat in that development currently "Under Offer" with the asking price of £650pcm. Seems like a good place to invest.

Insurance expert helps a lady in Ulverston, Cumbria

Insurance expert Neil Cook of Equity and General Insurance Services helped a lady in Ulverston who had been flooded.

She lives in a typical terraced house and the brokers were able to arrange to insure her for less than £500.

She mentioned that her neighbour had received a renewal quotation of £8,000 for a similar sized house and another neighbour £18,000.


How can a normal family possibly afford to pay such a vast percentage of their annual income in insurance?

Neil Cook is rather concerned by this Association of British Insurers / ABI report:


"More than half a million homes in England could be ineligible for home insurance unless action is taken to protect them against flooding, the insurance industry warned today. The Association of British Insurers (ABI) warned that its members could stop offering flood protection as standard on all home insurance policies, in a report published a year after thousands of homes in Hull were hit by flooding.

The report stated insurers could not commit to covering all the homes identified by the Environment Agency as being at significant risk of flooding, over 517,000 of them, unless the government announced plans for them to be adequately defended.

The ABI added that without government action and stricter enforcement of planning controls to prevent new homes being built on flood plains, some properties could become “uninsurable, unsaleable and uninhabitable”. It was also stated that last year’s floods in Hull and Gloucester led to 180,000 claims for flood-damaged homes, businesses and vehicles, and that its members had dealt with four years’ worth of claims in two months.

More than 17,000 policyholders were put up in temporary accommodation and a total of £3bn was paid out in claims.

Statistics regarding some of those living in the flood-hit areas found eight out of 10 thought the danger of flooding was increasing, while three-quarters did not think enough was being done to tackle the problem. Improving drainage was seen as a top priority for 98% of people, followed by tougher planning controls for new homes. Three-quarters of people believed the government’s target of 3m new homes by 2020 should be reduced if it would lead to more homes being at risk of flooding.

Nick Starling, the ABI’s director of general insurance and health, said: “These findings reinforce our call for a long-term flood management strategy.
“In particular, we must tackle the problem of surface water drainage. Planning for the future is essential if we are to minimise a repeat of last year’s terrible floods, and to ensure that flood insurance protection remains widely available.”

A spokesman for the government’s communities and local government department said: “If councils properly use the tough new planning rules we have put in place to protect new homes against flood risk, which includes consulting the Environment Agency, it will ensure that all homes are safe from flooding and sustainable for the future – effective surface water drainage and flood defences must also be part of new housing infrastructure.”
Source ABI"

You may find that a local flood action group may not help you that much either but a solution is possible if you now were to ask.

Help is at hand for anyone who has been flooded or even those in flood zones you don’t have to pay ridiculous premiums or vast flood excesses or even go without flood cover, when our flood insurance expert will too offer you affordable cover from LLOYDS OF LONDON without too much complication just because major insurers say you cannot get cover its not the case you do not have to suffer.

Please do tell us how badly your insurers have treated you we would honestly like to hear from anyone who has been quoted a vast premium and or excess.

For more information Click Here

See also:Flood Line Action Groups – Help is here

Mundys estate agents launches iPhone app

Mundys estate agents in Lincolnshire launches iPhone app.

Mundys is leading the way once again by becoming one of the first estate agencies in Lincolnshire to launch an application for the iPhone.

The innovative and award-winning property specialist has developed the app to make it easier for people looking to buy or rent to find their dream home.

As well as being able to search for nearby properties using GPS technology users can view property descriptions in full, scroll through hundreds of photographs and email details of properties to family and friends.

According to Senior Partner Philip Barnatt their years of experience and commitment to providing excellent customer service combined with the latest technology make Mundys a formidable force in Lincoln’s property market.

“As a business we are keen to embrace anything which improves the services we offer to our clients. Although we have won several prestigious titles, including Best Estate Agency in Lincolnshire in the Daily Mail UK Property Awards 2009 and 2008, we are always striving to do better.

“Mundys has been in business since 1898 but we pride ourselves as being at the forefront of technology. The way people buy and sell houses has changed and to be successful we must meet our customers’ needs, which is true for any business.

“These days a lot of people prefer to search for properties online rather than come into the office so we have to make our services and properties as easily accessible to them as possible and an iPhone app is an excellent way of doing this.

“Our clients can rest assured we’re doing everything possible to sell or rent their home which includes providing excellent customer service. When it comes to making an important and life-changing purchase like buying a home, we realise technology will never replace face-to-face communication and our team of dedicated and enthusiastic staff are ready and waiting to greet potential buyers as soon as they step through the door.”

As well as the iPhone app Mundys recently posted a series of unique Video Village Guides on its website which provide buyers with a comprehensive view of what each village has to offer including schooling and local amenities.

Mundys was also the first estate agency in the county to offer a downloadable guide for first-time buyers which tells people who are looking to climb onto the first rung of the property ladder everything they need to know about buying their first home.

Philip concluded: “The app is already proving to be hugely popular and we’re really excited and proud to be one of the first estate agencies in the county to be harnessing this new technology for the benefit of our customers nationwide.”

The Mundys iPhone app is free and can be downloaded via the iTunes App Store or on Mundys’ website.

Looking for insurance for your rental property in Lincolnshire? Take a look Here

Buy to let insurance: new FSA plans - Rentguard News

"Buy to let insurance: new FSA plans - 1st October 2010"

A new proposal about the future of interest-only mortgages has sparked debate from experts, which people with landlord insurance will be interested in.

The suggestion from the Financial Services Authority (FSA) is that lenders should check the validity of their customers’ repayments methods at the start of a mortgage and periodically throughout its lifespan.

This may put off some landlords with buy to let insurance investing in new property as, if the new rules came in, they would be checked up on by their mortgage provider for their ability to pay.

However, it may also encourage more people to stay in rented accommodation.

The Building Societies’ Association’s (BSA) Paul Broadhead fears that this move will stifle the market, whilst the Council of Mortgage Lenders (CML) goes even further, believing that if the proposals continue as they are, the interest-only market will “effectively vanish”.

Mr Broadhead continues, noting that “lenders have a responsibility to make clear to borrowers the risks of interest only mortgages and to stress the need for a repayment method, but the FSA should avoid creating a moral hazard where customers take less interest in the performance of their finances in the mistaken belief that lenders are doing it for them.”

With the housing market still struggling after the recession, any extra reason for those with let property insurance not to invest in further properties, any further disincentive could keep the market in the doldrums for some time to come.

The CML believes that the costs involved in carrying out the scheme as it currently stands would be “prohibitive” and notes that “the number of borrowers with a shortfall at the end of their term is extremely low, [so] lenders do not see significant losses interest-only mortgages, meaning that the majority of borrowers’ repayment methods work.”

However, as interest-only mortgages generally appeal to those who would otherwise be renting accommodation, those with landlord insurance may actually benefit from the proposal, if it comes in unchanged.

This could see a continuation of the current trend, which has seen fewer people choose to take on a mortgage, according to the Bank of England’s most recent figures.

Analysts suggest that this is because of high unemployment, job uncertainty and low consumer confidence, so if the new interest-only ideas were brought in, this would further heighten consumer anxiety about buying a home.

Talk with one of the professional advisors at Rentguard today or apply online for an instant landlord insurance quote, immediate cover and swift delivery of your documentation.

Source: Rentguard

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