cladding issues

It’s the December Market Update 

Rob & Rob are back with your monthly update, and it’s safe to say the market isn’t ready to wind down for Christmas just yet. 

From rents shooting up, to potentially devastating news for Welsh landlords. And a fall of 52% in property transactions... The Rob’s have got plenty to cover. 

All the links you need to get stuck in are just below: 

Sales 

• UK house sales fall 52% in month after stamp duty holiday deadline 

Rents 

• Has Covid finished off the rental market? 
• UK rents ‘rising at fastest pace in 13 years’ 
• Rents up sharply in prime areas of London as market bounces back 
• Savills - Rental revival 
• Landlords face punishing new costs under property wealth tax plan 

Mortgages 

• Bank of England considering easing mortgage rules in move that could boost house prices 
• Kensington launches long-term fixed rates up to 40 years 

Cladding 

• BoE concerned cladding crisis poses risk to UK financial stability 
• Cladding scandal: How plans to make flat leaseholders pay for repairs have been put on hold 

Other 

• Legal Warning — some buy to lets will never meet new EPC targets 
• Carbon Monoxide alarms must be fitted in private rentals with gas boilers 

And finally... 

• Research lays bare failure to tackle criminal landlords 

Hub Extra  

This week’s Hub Extra is coming straight from our producer, Dan. 

The Beatles: Get Back follows The Beatles along the making of the Let It Be album. 

Oscar winning film maker Peter Jackson, has compiled hours of unseen video and unheard audio to create a three-part documentary on this pivotal moment in music history. 

It’s definitely one to add to your must-watch list. 

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Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!  

If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. 

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Welcome back to Ask Rob & Rob! It’s Tuesday, and that means we’ve got another two property questions that need answering.

First up this week we’ve got Pauline from Gothenburg in Sweden! 

She has a property in the UK which she purchased 5-6 years ago thinking it would be her forever family home. 

The property is in a rural part of Scotland where demand isn’t that high in terms of renting or purchasing. 

It’s been on the market since the beginning of lockdown and it’s just not selling. The agent has now suggested that Pauline turn it into a rental. 

However, she already has four other rental properties in other parts of Scotland that have the fundamentals, whereas the location of this property, doesn't really have the rental fundamentals needed to make it a success. 

So now she’s wondering if she should drastically drop her asking price and take a loss, or if she should put it on the rental market? 

Next we’ve got Jeremy who’s got a concern about his potential remortgage offers. 

He’s got a couple of apartments in developments that have cladding issues, following on from the Grenfell disaster. 

Now Jeremy is wondering if the cladding is going to cause issues for him, should he want to remortgage? 

More so if he’s looking to pull money out of the properties and refinance. 

So, will cladding issues affect the ability to remortgage?

Tune in to find out.

 

Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply). 

 

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The next question on Ask Rob & Rob could be yours. 

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See omnystudio.com/listener for privacy information.