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The Enforcement Conduct Authority — New Proposals for a Debt Enforcement Oversight Body

Many sectors of the financial world have their own independent oversight bodies. The best known is probably the FCA (Financial Conduct Authority) but similar organisations operate in various areas of finance. One notable exception, though, has been the debt enforcement sector — but that may be changing. A prominent think-tank has brought together various sides of the sector and proposed a framework for a new oversigh
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If You Have Great Tenants, You Want to Keep Them — Here’s How

The perfect balance for any landlord is to ensure a regular, unbroken income from your property with a minimum of effort and hassle. And the best way of ensuring that is to keep any good tenants you already have. The obvious advantage of keeping a good tenant is that you won’t have gaps in the rent coming in, but there are other benefits. If the tenancy isn’t constantly changing, you’ll be spending
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The Moratorium Ends — The Start of Back to Normal for Landlords?

Early in the pandemic, the government brought in a moratorium on evictions for rent arrears. While this was good news for tenants struggling to pay, often through no fault of their own, it’s been a nightmare for some landlords, who have been unable to do anything about lack of rent. From 1st June, however, the moratorium no longer applies — but is this really back to normal for landlords? The History of the Mor
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Property Inventories — Not Just Lists

A landlord has a lot to do at the start of a tenancy, and it can be tempting to treat the inventory as just one more tick in a box. If you’re lucky enough to have a model tenant, that might be enough — but any problem during the tenancy can make a full and detailed inventory crucial. And that can include the need for photo and video evidence. Why Are Photos and Videos Necessary for an Inventory? If a dispute sh
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One in Five Renters Finding It Difficult to Meet Their Housing Costs

A Government report released in April shows a stark picture of how households are coping with their housing costs and savings in the pandemic. The problems apply to both the home-owning and rental sectors, but renters seem to have been hardest hit. The Second Wave Household Resilience Study After more than a year of the pandemic, the Government has published a study of how households are holding up in the wake of the
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Landlords — Avoid a £30,000 Fine by Keeping Up Electrical Safety Tests

If you’re a responsible landlord, you may well already carry out EICR (electrical installation condition report) checks regularly on all your properties. From 1st April, however, this will be a legal requirement, with fines up to £30,000 for failure to comply. What Is the EICR? An EICR is the document that an electrician issues after carrying out an inspection on the electrical equipment in a property. Dependin
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Ban on Evictions Extended Again — but how Complete Is it?

On the 10th March, the Government announced that the current moratorium on evictions will be extended until 31st May, for both domestic and commercial tenancies. This is clearly good news both for people who rent their home and for struggling businesses, but not necessarily for equally struggling landlords. So, does this mean that no evictions can take place, regardless of the circumstances? The Extension of the Mora
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Poverty and Debt — the Legacy of Covid-19

2020 has been a difficult year in so many ways. Quite apart from the struggles of living in lockdown, the disruption has had a devastating effect on many bank balances. Two recent reports show the growing level of hardship many households are facing and the debt burden being taken on to cope with this. 30% of Households Facing Hardship Research by the Resolution Foundation suggests that incomes have fallen significan
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Is There Light at the End of the Tunnel over Late Payments?

Late payment has for a long time been the scourge of small businesses, and this has only got worse during the pandemic. Many businesses are suffering severe cashflow problems as a result, including the risk of closure. However, there are signs the government is finally contemplating action to help struggling businesses facing this issue. The Scourge of Late Payments Most small businesses operate on very narrow margin
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PROPERTY NEWS UK

On 16th OCTOBER 2020, RYAN BEMBRIDGE headlined in the above A quarter (23%) of home-owners are worried about renewing their mortgage during the pandemic, a poll from specialist broker Willow Private Finance has found. A third (32%) said their income was less secure now than before the pandemic, while more than one in 10 (12%) had to take a payment holiday during COVID. The proportion of those feeling less financially
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