LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Mortgage Companies Set to Face Rush Following Announcement of New Measures

Mortgage Companies Set to Face Rush Following Announcement of New Measures

Following the announcement by Communities Secretary, Mr Eric Pickles last week buy-to-let mortgage providers in the UK are now faced with a rush to renegotiate their terms.

 

Last Tuesday (2nd October) Mr Pickles announced that families who were living in the private rented sector should be able to benefit from longer tenancies of between two to five years giving them a greater feel of security and is set to introduce this new measure soon. 

 

However, many buy-to-let providers currently allow a maximum contract length of one year to 18 months; this new measure would be in breach of many landlords’ mortgage conditions.

 

Angela Tymms, Senior Negotiator at Martin & Co Crawley said “It is believed this could now lead to a number of negotiations between investors and their mortgage providers, as investors ensure they are not breaching the new tenants’ charter laid out by Mr Pickles”.

 

If you are an investor and have any concerns about how these new measures may affect you please call Ciaran or Angela today on 01293 735000.