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Monthly Archives: July 2017

Significant Number Of MPs Are Landlords

Landlords come from all walks of life here in the United Kingdom. Some purely earn their living from renting out properties whilst a number of others have other occupations such as teachers, doctors and solicitors. Some interesting research has been carried out by Channel 4’s FactCheck that includes the number of MPs in the UK parliament who rent out properties. In fact, there are 123 MPs who do so including some members of the Government. The above figure equates to not too far off 20% of MPs. We are sure you will agree that is a significant percentage. However, why should an MP not be able to buy an investment property and rent it out to earn additional income just like someone who is say a dentist or a surveyor. There are 87 Conservative MPs, 28 Labour MPs, 3 SNP MPs, 3 Liberal Democratic MPs, 1 DUP MP and the Speaker of the House of Commons. That means that 28% of Conservative MPs let out properties, 11% of Labour MPs do the same, 9% of SNPs rent out investment properties, 25% of Liberal Democratic MPs do this and 10% of DUP MPs rent out properties. The above figures may not…

Rental Deposits To Be Capped

If you are a landlord whether that be one who has been involved in the but-to-let market for a number of years, someone who has recently entered the market or you are considering purchasing your first investment property to let out to tenants then you may be interested to note that it was recently announced in the Queen’s Speech that there is to be a cap placed upon the level of deposit a landlord can insist on. Landlords will only be able to hold a deposit of one month’s rent. This decision may concern some landlords. In fact, it is estimated by the National Landlords Association that in the region of 40% of deposits are for in excess of 40% of one month’s rent. Some landlords may be concerned that this is not a big enough deposit. This could be because there will be a number of prospective tenants who landlords feel are more likely to not take care of the landlord’s property and that the deposit is no where near enough to cover the cost of any repair work. This may mean that some landlords will be reluctant to allow some people on lower incomes to become tenants in…

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