Landlords – lucky escape for the time being
It has just been announced that the Renters Reform Bill will not pass into law during this Parliament.
All Landlords can now breathe a sigh of relief that this ill thought out, rushed piece of legislation has been effectively binned.
If all the polls are to be believed we will have a new Government in July. Labour do have plans for the private rented sector, however it will take some considerable time for a new Government to implement any such legislation. No doubt, a re-branded bill is likely to have some similar key points, however the most important thing is to have the court system streamlined and able to cope with the volume of potential cases that the proposed changes will inevitably create.
The Renters Rights Bill, though fundamentally flawed, did have a couple of positive points in terms of landlords rights for possession on certain grounds. However, without the necessary reform to the court system this would simply disadvantage all landlords. We can only hope that the next government, if they do implement new legislation, prepare the framework correctly and ‘put the horse before the cart’.
All the best to Katharine Tomlin
It's a sad day at Aldreds Gorleston as Katharine moves on to pastures new! 'Kat' started with Aldreds in 2012 and has worked in every office apart from Stalham over the years. We wish her all the best in her new career in the NHS!
Fantastic News on Inflation!
Inflation has dropped to 2.3% it has been announced today. Down from 3.2% the month before
This is getting close to the Bank of England’s target of 2%.
Although we do expect base rate cuts in 2024 analysts feel this unlikely to happen in June.
However, two and five year fixed mortgage rates are still more generous than they were a year ago as lenders predict rate base rate cuts through 2024/25.
Considered auction?
Aldreds now offer conditional online auctions through all of our branches.
This month our Lowestoft office has sold two properties on this basis. One in Corton and one in South Lowestoft.
The advantage of selling by this method is that the buyer has to pay a deposit once the sale is agreed giving them a financial commitment. Our auction partners inform us that this method of sale has a 98% chance of reaching a completion.
Thinking of selling or auctioning your property? Contact us today!
Bradwell Part Exchange Event
Aldreds are delighted to be supporting Persimmon Homes at their Bluebell Meadow site this Saturday for their part exchange event.
Chris, Tim, Dan and Tracie will be at the Bluebell Meadow show house between 10am and 5pn to offer help and advice to house hunters who think part exchange may be for them.
No need to book in just pop along for a chat. The Aldreds & Persimmon teams look forward to seeing you.
