Paul Shamplina takes to BBC Radio 4 to voice concerns with "Rent to Rent"

On Wednesday 16th October Paul Shamplina, Founder of Landlord Action appeared on BBC4’s You and Yours show, to highlight the shocking risk to landlords of the latest money making strategy to sweep the property industry, “Rent to Rent”.  It’s a simple concept: Rent a house, then sub-let the rooms to sub- tenants and make as much profit as possible.  This will be available to listen to on BBC iPlayer This is a mushrooming phenomenon which has seen hoards of “experts” writing blogs, books and seminars on how to get started and even running courses costing up to £500 on how to bring in tens of thousands of pounds with virtually no out-lay. One such “guru” includes Daniel Burton who claimed he earned £35,000 a month from the get-rich-quick scheme.  Last week, The Guardian revealed he has gone missing, leaving tenants and landlords across London hundreds of pounds out of pocket. The idea behind...
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Land Registrys Index gives weight to the strengthening Property Market

The Land Registry August HPI was released recently and showed and increase in the average house price by 1.3% annually. The annual increase of 1.3% to set the average house price at £164,654 gives some extra weight to the overall view of a strengthening property market. The actual change over the month was just 0.1%.
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Bank of England maintians Bank Rate at 0.5%

The Bank of Englands Monetary Policy Committee voted to maintain the official Bank Rate in August at the long term historical low of 0.5%. This low was introduced back in March 2009 and there has been varied speculation at times that this would increase as the economy improved. Yet many commentators predict that this will remain lower for 2013 and perhaps beyond. The Bank may increase rates marginally but they are unlikely to rise massively while the UK economy continues with only minimal growth. The Bank also decided to maintain the level of stock asset purchase that it is financing by the issuance of central bank reserves. This level is now £375 billion having been initiated in March 2009 and increased back in July 2013.
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Further fall in House prices

The Nationwide House Price Index (HPI) release yesterday indicated a further fall in house prices in August. The average house price fell by -0.6% against the price in July and -0.4% against the average price in August 2010. This places the average house price at £165,914. Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “UK house prices declined by 0.6% in August, although this doesn’t change the picture of relative stability that has characterised the market over the past twelve months. Indeed, prices were broadly unchanged compared with August 2010 – just 0.4% lower. Property prices have remained stable, albeit falling slightly, most likely due to a sluggish demand with only gradual rise in supply. Nationwide believe that the labour market is key for housing and a major risk is the weak economic growth could cause a further deterioration of this. Even though we are seeing small falling house...
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