Summary

New regulations concerning larger properties in multiple occupation may make a buy to let mortgage a viable proposition. The end result of this should improve the standard of such properties.

New rules for buy to let landlords. Page 2

Author: Michael Challiner

If it is impossible to reach an agreement and it proves necessary

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Life Insurance News

for either party to obtain a final court order deciding the proportion of the deposit to be paid to either party, then the administrator holds the deposit until this stage is reached and will then pay out the money accordingly.

When an administrator returns a deposit, interest must be added. The decision on the rate will be announced by the Government. Any balance of interest will be retained by the administrator and may be used to fund the running of the scheme.

Secondly, the Housing Health and Safety Rating System - If a tenant is concerned that the condition of the property is affecting their health, they can call in inspectors to make a judgment on this. These inspectors will have the power to demand any repairs which they think are necessary. The fine for landlords not complying with these conditions will be up to £5,000.

Obviously, there will be a cost to landlords in complying with these new rules and this will have to be recouped. Not all landlords will have the means to carry out the work and in the short term some of the properties in really poor condition may close. The end result, though, should be a better standard of accommodation and a fairer deal overall, making it more tempting for shrewd investors to enter this type of market via a buy to let mortgage!

Did you know?
That the cost of car insurance cover can vary by as much as 50%. So it can really pay to shop around. And where can you find the cheapest prices? On the Internet of course!

Did you Know?
A life insurance adviser must work for a firm that is authorised and regulated by the Financial Services Authority for what is called "insurance mediation". Then, if you have a problem with the advice you were given, the firm has to undertake a formal review of your case. And if you are unhappy with their reply and you have lost out financially, you then have recourse to the Financial Ombudsman.

Did you know?
There can be a price differences between car insurance quotes by as much as 50%. That means it really pays to shop around. And don't forget, when it comes to renewal time shop around again! Don't automatically accept a renewal notice!

Did you Know?
The words term assurance are used by many people when what they really want is term insurance, more commonly known as life insurance.

There is no investment element within life insurance and so there's no payout if the policy reaches its termination date. A life insurance policy only pays out if the policyholder were to die (or become terminally ill and death is anticipated within 12 months of diagnosis - other conditions may apply), before the policy's termination date.