The Industry Wire — archive, page 6

AI A software company, LetCompliance, claims that one-third of the Making Tax Digital (MTD) for Income Tax products listed by HMRC for landlords cannot yet file the annual tax return. Of the 128 products on HMRC's official list that handle UK property income for individual landlords, only 84 are capable of sending the year-end tax return. MTD for landlords with qualifying income over £50,000 began in April this year, extending to those over £30,000 from April 2027. Propertymark recently advised letting agents to assist landlords with the new system. For landlords: Many MTD software products currently available for UK property income do not support the final tax return, which is due by January 31, 2028, for the 2026-2027 tax year.

AI Room rents have reached record highs across most of the UK, with the supply of rooms in flat and house shares decreasing by 4.7% year-on-year, according to SpareRoom data. All regions except Greater London and North East England saw record room rents. South West England experienced the largest regional year-on-year rent increase at 2.3%. Northern Ireland saw the biggest country-level rise in Q3 at 7%, driven by Belfast's 6.8% increase. Exeter's demand for rooms surged by 79% due to on-campus accommodation shortages, pushing rents up 4.5%.

Upfront moving costs have dropped but the longer-term picture is far less reassuring, says Rob Houghton, founder of Reallymoving.

AI Mortgage brokers have warned that online mortgage calculators can provide an inaccurate picture of how much first-time buyers can borrow, potentially creating "false hope". Richard Davidson of onlinemortgageadvisor.co.uk noted that while useful as a starting point, these tools often fail to account for complex individual circumstances like self-employed income, bonuses, or childcare costs. Craig Fish of Lodestone Mortgages added that users often input figures without understanding lender-specific rules on allowable income and outgoings. Brokers claim that calculators can both overstate and understate borrowing capacity, with some lenders now offering more than four and a half times salary.

AI Mortgage deals priced below 5% have almost disappeared, according to Moneyfacts data. The number of sub-5% fixed deals, excluding those for Northern Ireland, fell by 99% from 1,494 at the start of September to just nine. Average fixed rates have reached three-year highs, with the average two-year fixed rate now 5.98% (up from 5.59% last month) and the average five-year fixed rate at 6%. This rapid shift affects borrowers seeking lower fixed mortgage rates.

AI Shadow Housing Secretary Katie Lam indicated support for scrapping the Renters’ Rights Act and Stamp Duty at a Centre for Policy Studies fringe event during the Conservative Party conference. While the Conservative Party later clarified there is no policy plan to scrap the Renters’ Rights Act, Ms Lam also pledged to abolish the Future Homes Standard, cut new-build home costs by up to £50,000, and replace Section 106 and the Community Infrastructure Levy with a single levy. Propertymark welcomed the focus on increasing housing supply and simplifying planning.

AI The English Housing Survey, which canvassed nearly 14,000 rented households, indicates that 84% of renters are satisfied with their accommodation, and three-quarters are happy with repairs and maintenance. Renters are spending a smaller proportion of their earnings on rent than four years ago, with 33% of income now allocated to rent, down from 36% in 2014/15. The survey also found that most tenants move voluntarily. However, renters aged 16-24 spend 45% of their income on rent. For landlords: The survey provides data on tenant satisfaction and rental affordability within the English private rental sector.

AI A new London agency, Orato Estates, has launched, founded by Andreas Abasaid. The agency will focus on residential properties in London with distinctive architecture, interiors, and design, taking a selective approach to its portfolio. Orato Estates aims to market homes that stand out from conventional stock, offering sales and lettings services to private vendors, developers, architects, and interior designers. For landlords: A new lettings agency has entered the London market, specialising in design-led properties.

AI Average rental yields reached 7.9% between July and September this year, an increase of 0.4 percentage points from 7.5% in the same period of 2025, according to Fleet Mortgages research. The average landlord portfolio grew to 18 properties. Yorkshire and Humberside recorded the highest yield at 9.3%, while Greater London remained the lowest at 6.4%, despite having the highest average monthly rent of £2,597. Limited company borrowing accounted for 71% of applications, and average rental cover decreased from 144% to 132%. For landlords: Greater London's average rental yield was 6.4%, the lowest among the regions surveyed, while its average monthly rent was £2,597, the highest.

AI JDG Estate Agents acquired Mighty House Sales and Lettings on 6 October 2026, following its summer purchase of Castle Properties. These acquisitions expand JDG's operations across Lancaster and Morecambe, integrating both businesses into the JDG brand. Mighty House operated as a high street sales and lettings agency for about 10 years, while Castle Properties focused on residential lettings. The deals have increased JDG's managed lettings portfolio to over 450 properties and expanded its team.

Why understanding sellers’ real motivation can win estate agents more instructions

AI The Conservative Party announced plans on October 6, 2026, at their conference in Birmingham, to scrap stamp duty and significantly deregulate housebuilding if they return to government. Shadow Chancellor Andrew Griffith stated the reforms could reduce new-build home costs by up to £50,000. The proposals include abolishing the Future Homes Standard, replacing Section 106 agreements and the Community Infrastructure Levy with a single developer charge, and dissolving Natural England and the Environment Agency. Property industry figures like Propertymark and the Federation of Master Builders welcomed some aspects, such as stamp duty abolition and planning simplification, but expressed caution regarding the impact on build quality and environmental protections.

AI The number of fixed-rate mortgages below 5% significantly decreased in September, with 99% of such deals vanishing, leaving only nine available. This excludes products exclusive to Northern Ireland. The average five-year fixed rate reached 6%, its highest since September 2023, while the average two-year fix climbed to 5.98%, the highest since December 2023. Major lenders like Barclays, HSBC, and Lloyds Bank increased rates multiple times during September. This rapid repricing, driven by rising gilt yields and volatile swap rates, impacts buyer affordability and transactions across the UK. For landlords: The increased cost of fixed-rate mortgages affects the affordability of property purchases for potential buyers.

AI Average rental yields across England and Wales reached 7.9% in Q3, up from 7.5% a year prior, according to Fleet Mortgages' Q3 Rental Barometer. The average landlord portfolio with Fleet grew to 18 properties, compared to 12 a year ago. Yorkshire & Humberside recorded the highest yield at 9.3%, while Greater London remained the lowest at 6.4%, despite an increase from 5.9% a year earlier. London also maintained the highest average monthly rent at £2,597. The data indicates a trend towards larger portfolios, with landlords owning 15+ properties accounting for 30% of applications in Q3. For landlords: Greater London's average rental yield increased to 6.4% from 5.9% a year ago, and its average monthly rent was £2,597.

AI The Property Ombudsman (TPO) has appointed Jan Hÿtch and Bill Cooper as new non-executive directors to its board. Hÿtch brings over 35 years of residential property experience, including roles at Propertymark and RICS, and as an adjudicator for the Tenancy Deposit Scheme. Cooper, also with over 35 years' experience, previously owned a Martin & Co lettings and property management business in Oxford and was an equity partner at Deloitte and KPMG. These appointments aim to strengthen TPO's governance and consumer redress work across the UK. For landlords: The Property Ombudsman, which provides independent redress for consumers using property businesses, has appointed new board members with extensive experience in lettings and property management.

AI Estate agents can now automate the management of 'For Sale' and 'To Let' boards following a partnership between National Independent Board Services (NIBS) and proptech firm openmoove, announced on 6 October 2026. This integration, currently available through CRMs like Alto, Street, Rex, Loop, and Apex27, automatically triggers board orders, movements, and removals based on property status changes within the CRM. NIBS, a national network of independent board companies serving over 5,000 estate agency offices across the UK, states this will reduce boards left outside properties post-transaction. The service offers agents a single system for board services, including installation photos, reporting, and consolidated invoicing.

AI New regulations for letting agents and landlords in Scotland came into force on October 6, 2026, introducing specific deadlines for addressing damp and mould in rented properties. Landlords now have 10 working days to investigate potential issues after becoming aware of them, and must provide a written summary to tenants within three working days of completing the investigation. If repairs are necessary, work must commence within five working days of the investigation's conclusion. These changes necessitate a review of procedures for agents and property managers, including inspections, record keeping, and contractor arrangements, particularly regarding specialist expertise.

AI The government has appointed Professor Sergio Cavalaro of Loughborough University as the new Chief Construction and Scientific Adviser (CCSA) for a three-year term. This role, a recommendation from the Grenfell Tower Inquiry, will provide independent expert advice on building safety, quality, and resilience, and support regulatory reform. Concurrently, the Building Safety Levy, a tax on new residential developments over 10 units, came into force on 1st October 2026. This levy is projected to raise £3.4 billion over ten years to fund building safety works, including cladding removal, and ensure the industry contributes to defect remediation.

AI The Building Safety (Wales) Act 2026 will establish a new regime for managing safety risks in multi-occupied buildings in Wales, led by regional Building Safety Authorities (BSAs). Flintshire County Council is proposed for North Wales and Vale of Glamorgan County Borough Council for South Wales, with a consultation ongoing for Mid and West Wales. Propertymark supports these designations and suggests Carmarthenshire County Council for Mid and West Wales. The success of these BSAs, which will be responsible for assessing and managing building safety risks, depends on adequate resources, clear guidance, and engagement with property agents.

AI The cost of moving home in England has decreased to £17,413 in 2026, a 2.3% reduction from the previous year's record high, according to research by reallymoving. This £418 drop is primarily due to a fall in median property prices, with purchase prices decreasing from £395,000 to £390,000 and sale prices from £325,000 to £315,000. This led to lower Stamp Duty and estate agent fees, alongside a nearly 12% reduction in removals costs. However, conveyancing costs increased by 2.7%. Overall, moving costs have risen by 74% over the last decade, adjusted for inflation.

AI Propertymark has released a new guide for its letting agent members on managing pet requests in rented homes. The guide aims to help agents handle requests fairly, reduce risks, and prevent disputes, covering rules across England, Scotland, Wales, and Northern Ireland. In England, the Renters’ Rights Act 2025 grants tenants the right to request a pet, with landlords required to consider requests within 28 days and only refuse on reasonable grounds. The guide also addresses varying deposit rules across the UK and encourages open communication between agents, landlords, and tenants regarding pets. For landlords: The Renters’ Rights Act 2025 in England will require landlords to consider tenant pet requests and not unreasonably refuse them.

AI The Cambridge Building Society, in partnership with lettings agency Cheffins, has opened applications for its Rent to Home initiative, which allows renters to reclaim up to 70% of their paid rent as a deposit for their first home. This unique UK scheme, launched in 2019, is currently inviting applications for a property in Longstanton. It targets first-time buyers who can afford rent but struggle to save a deposit, offering tenancies of one to three years in refurbished homes. The scheme has already seen ten tenants purchase homes, reclaiming a total of £169,290, with a further nine tenants in six properties projected to reclaim over £201,000.

AI Tenant demand across England strengthened in Q3 2026, with 31.1% of rental listings securing a tenant, a 1.4% increase from Q2 2026. This figure is broadly consistent with the previous year, being only 0.1% lower. The City of London and West Sussex experienced the highest demand at 43.5% each, while Tyne & Wear had the lowest at 18.3%. The City of London also saw the largest quarterly increase in demand, rising by 13.5%, with Greater London increasing by 3.9%. For landlords: Tenant demand in the City of London was the strongest in England during Q3 2026, and Greater London experienced a notable quarterly increase in tenant activity.

AI New research from the TDS Charitable Foundation, based on a survey of over 2,000 private renters in England, indicates a shift in tenant demographics and aspirations. While 76% of renters desire homeownership, 44% anticipate renting permanently. Over half (51%) wish to move but feel unable, and 47% found their last property search difficult due to limited choice. The average tenancy length has increased to 4.7 years, nearly a year longer than a decade ago. Demand for social housing is also rising, with 30% of tenants preferring it, up from 21% last year. This trend is more pronounced among older tenants, those on benefits, families, and individuals with long-term health conditions.

AI Jan Hÿtch and Bill Cooper have been appointed as Non-Executive Directors to The Property Ombudsman (TPO) board. Hÿtch brings over 35 years of experience in residential property, including roles at Propertymark and the RICS UK Residential Board, and has served as an external adjudicator for the Tenancy Deposit Scheme. Cooper, with over 35 years in business leadership and governance, was formerly an equity partner at Deloitte and KPMG, and owned a Martin & Co lettings business in Oxford for eight years. Both have direct experience with TPO's complaints and redress processes. Their appointments aim to strengthen TPO's work for consumers and property businesses across the UK.

AI Shadow Housing Secretary Katie Lam has criticised the charity Shelter, alleging it attempted to alter a formerly homeless veteran's testimony to promote a pro-migrant agenda. Writing on Conservative Home, Lam stated Shelter tried to make the veteran's story "address" the perceived conflation of homeless veterans with migrants "getting homes," despite the veteran's focus being on his military service and PTSD. Shelter declined to comment when approached by Landlord Today. Lam also reiterated pledges to scrap stamp duty and reduce new-build home costs by up to £50,000 by cutting net-zero regulations and red tape. Propertymark welcomed the focus on housing supply and stamp duty removal but urged caution on scrapping the Future Homes Standard.

AI A recent report by software company LetAlliance claims that one-third of Making Tax Digital (MTD) for Income Tax products for landlords cannot yet file the annual tax return. Of the 128 products listed by HMRC as handling UK property income, only 84 are currently able to send the year-end tax return, with 32 showing it as "in development" and 12 not including it. MTD for Income Tax began in April 2026 for landlords with qualifying income over £50,000, requiring quarterly updates and an annual tax return via compatible software. The first tax return for the 2026-2027 year is due by January 31, 2028. For landlords: The functionality of MTD software for filing the annual tax return is a key consideration when selecting a product.

AI New rules regarding damp and mould, tenancy succession, and wrongful termination are now in effect in Scotland. Private landlords in Scotland must investigate damp and mould reports within 10 working days, provide a written summary within three working days, and begin remedial work within five working days if substantial issues are found. The qualifying period for tenancy succession after a tenant's death will reduce from 12 to six months for tenancies where the tenant dies on or after 6 October 2026. Additionally, for tenants leaving a property on or after 6 October 2026, the financial penalty for wrongful termination of a Private Residential Tenancy will increase significantly, from up to six months' rent to between three and 36 times the relevant sum.

AI Landlords are reportedly spending six full days annually on Making Tax Digital (MTD) for Income Tax, which became mandatory six months ago for those with over £50,000 in annual revenue. A survey by Tide of 500 MTD users found 44% anticipate MTD administration impacting normal working hours, with 36% specifically noting it will affect time spent with clients. Over half (58%) expect it to take more than a working week, and 13% predict over ten days in the first year. This lost time, estimated at £1,778 per business in the first year, equates to £1.5 billion across 864,000 qualifying businesses. MTD will extend to landlords with over £30,000 in revenue in 2027. For landlords: The MTD for Income Tax requirements affect landlords with annual revenues over £50,000 now, and will affect those with over £30,000 from 2027.

AI Over £900 million was invested in the UK Build to Rent (BTR) sector in Q3 2026, bringing the year-to-date total to over £4 billion, surpassing previous years' figures for the same period. Savills anticipates 2026 could set a new annual investment record. Rental growth was particularly strong across England during summer 2026, following the Renters’ Rights Act in May, with 72% of English local authorities experiencing above-average growth. Birmingham was an exception due to high rental supply. This growth is attributed to landlords adjusting asking rents to market values, as the new legislation prevents accepting offers above advertised prices.

AI Tenant demand across England increased in Q3 2026, with 31.1% of rental listings marked as let agreed, a 1.4 percentage point rise from the previous quarter, according to LegalforLandlords. However, this national figure is largely unchanged from Q3 2025. The City of London and West Sussex saw the highest demand at 43.5% of listings let agreed, with the City of London also experiencing the strongest quarterly increase of 13.5 percentage points. Conversely, Tyne & Wear recorded the lowest demand at 18.3%. Greater London saw a 3.9-point rise in demand during Q3. For landlords: The City of London experienced the highest rental demand in England and the strongest quarterly increase in Q3 2026.

AI A new private rented sector database, set to launch in December as part of the Government's Renters' Rights Act, has been criticised by landlord organisations. The National Residential Landlords Association (NRLA) highlights that the database will cost landlords £65 per property annually, significantly more than a car MOT and almost seven times the initial government estimate. This charge, which the NRLA calculates will total at least £327 million per year across over five million properties, is for a service they claim offers limited benefits and largely duplicates information already provided to councils.

AI The prime London property market is showing signs of recovery after five years of high risk, according to Camilla Dell, Managing Partner at Black Brick. The UBS Global Real Estate Bubble Index 2026 now considers London safe from a property collapse. Knight Frank reported a 0.3% quarterly price growth in prime central London, the first in four years, and the smallest annual decline in 18 months at 2%. The upcoming Autumn Budget, with potential changes to Capital Gains Tax and Council Tax, is anticipated to be significant for the market's recovery. For landlords: The prime London property market is experiencing its first quarterly price growth in four years, with annual price declines at their smallest in 18 months.

Green Party leader Zack Polanski has proposed a three-year rent cap to protect tenants from 'runaway rents.' The post Green Party backs rent controls to stop landlord price hikes appeared first on The Negotiator .

Swansea estate agency, Dawsons, launches October fundraising campaign with a three-branch cycling challenge on Restart a Heart Day.

Propertymark's Tim Thomas says the Government needs to ditch any local discretionary schemes once the landlord register is in place.

AI To secure a sale by Christmas, properties should be listed by October 16th, according to HomeOwners Alliance research using Best Estate Agent Finder data. The average time for a property to go under offer is 68 days, 10 days slower than last year. Regional variations exist, from 33 days in Northern Ireland to 85 days in the South West of England. In city centres, Glasgow properties sell fastest at 25 days, while London properties take 76 days. This timeframe refers to an agreed sale, not completion, which would likely occur in early 2027.

AI Rightmove has collaborated with industry commentator Silvia Eldawi to launch a new podcast series for estate agents, "Golden Nuggets: Movers & Shakers," which premiered on 5th October 2026. The series features 10 agency leaders across 40 episodes, covering topics from winning instructions to technology. Guests represent various UK regions, including London, the South West, Wales, Yorkshire, and the East of England, discussing industry challenges and opportunities. Rightmove will also share selected content on its consumer channels. For landlords: The podcast features insights from west London agent Ben Madden of Fine & Country.

AI Guildcrest Estates, an independent estate agency, has acquired Thanet-based Frederick & Co Property Services. The acquisition, completed on October 5, 2026, adds approximately 150 managed properties to Guildcrest's lettings portfolio, expanding its property management business and reach across Kent. Emma from Frederick & Co will join Guildcrest to maintain continuity for existing landlords and tenants. The deal is part of Guildcrest's broader expansion strategy, which also includes residential sales, new homes, and commercial property in East Kent.

AI A new estate agency, Orato Estates, launched in London on 5 October 2026, aiming to specialise in "design-led and distinctive homes." Founded by Andreas Abasaid, the agency will focus on a selective portfolio of architecturally unusual houses and apartments, and restored period properties, rather than a high-volume model. Orato Estates plans to work with private sellers, developers, architects, and interior designers, initially within London. This launch adds to the increasing number of specialist operators in the London agency market.

AI Kemi Badenoch, a Conservative leader, has indicated a willingness to reform inheritance tax, stating that taxing wealth passed to children is "morally wrong". This comes as HMRC collected a record £8.5bn in inheritance tax in 2025–26, up from £8.3bn the previous year, partly due to frozen thresholds. The standard rate is 40% on taxable estates above £325,000, with additional allowances for main residences passed to direct descendants. Badenoch, speaking ahead of the Conservative Party conference in Birmingham, suggested she is open to reducing or abolishing the tax, but stressed any cuts must be affordable. No specific policy or timetable has been announced.

AI Sir James Cleverly, a Conservative mayoral candidate, has proposed plans that he claims could reduce London house prices by £100,000. He argues that excessive taxes and bureaucracy add this amount to new-build properties, pricing young professionals out of the capital. Cleverly suggests removing these costs could lower flat prices from £350,000–£400,000 to £250,000–£300,000. This initiative aims to reverse the trend of Londoners moving to more affordable areas like Braintree and Milton Keynes, with 420,500 people leaving London for other parts of the UK in the year to mid-2025. The proposals, announced on 5 October 2026, are currently uncosted and lack specific details on which taxes would be removed or how savings would be passed to buyers. For landlords: The proposed policies could impact property values and the demographic of tenants in London if implemented, potentially affecting demand and rental prices.

AI A new government property registration scheme, launching in the West Midlands on 15 December, will impose an estimated £327m annual cost on landlords across England. The National Residential Landlords Association (NRLA) criticises the £65 per property yearly fee, which is nearly seven times the original government estimate, calling it a "rip-off" and a duplication of existing council licensing requirements. The scheme, part of the Renters’ Rights Act, requires all landlords to register by 14 November 2027, with a three-month window once it reaches their region, and will eventually include vacant properties. For landlords: The new property registration scheme will apply to all landlords across England, including those in London, requiring annual registration and potentially increasing operating costs.

AI Property consultancy JLL is proposing to close its UK planning division, putting at least 25 employees at risk of redundancy. This decision, announced on 5 October 2026, affects staff in five offices: London, Bristol, Manchester, Leeds, and Edinburgh. The move is part of a broader review of JLL's operations to align with strategic priorities and client needs, following previous job cuts in its UK property and asset management business in May 2025. The division is led by Raoul Veevers, who joined in 2022. For landlords: This development concerns a property consultancy's internal restructuring.

AI Rightmove has partnered with property commentator Silvia Eldawi to launch a new podcast series, "Golden Nuggets: Movers & Shakers," starting today, 5 October. The series will feature 40 episodes throughout October and November, with 10 estate and letting agency leaders from across the UK, including London, the South West, Wales, Yorkshire, and the East of England. Each 15-minute episode will cover topics like winning instructions, sales progression, technology, AI, and customer service, with Rightmove sharing content via its consumer channels. The podcast aims to provide practical insights from experienced industry professionals.

AI Billionaire property investor David Reuben, 88, has relocated from the UK to Monaco, as confirmed by a spokesperson on 5 October 2026. He shares an estimated £28bn fortune with his brother Simon, and they topped the 2026 Sunday Times Rich List with significant London property interests. This move follows the abolition of the UK’s non-domiciled tax regime in April 2025, which offered favourable tax treatment on overseas income. Monaco generally has no personal income, capital gains, or inheritance tax. Reuben's departure is part of a trend of wealthy individuals leaving the UK amid tax regime changes, with one in six individuals from the 2024 Sunday Times Rich List no longer appearing in 2026. For landlords: The departure of wealthy residents could affect demand in London’s prime property market.

AI A Glasgow landlord, Anna McMullan, has lost her HMO licence for a flat on Sauchiehall Street after Glasgow City Council's licensing committee rejected her renewal application. This followed inspections by the council's HMO team and Scottish Fire and Rescue Service in February and September, which identified multiple fire safety issues, including faulty fire doors, obstructed escape routes, and a lack of fire safety information for tenants. The letting agent informed the committee that the landlord had previously rejected quotes for remedial work. Despite new tenants moving in in August, many deficiencies remained unresolved, leading to the licence refusal.

AI The average number of investment properties owned by landlords in England and Wales has risen to 18, a 50% increase from 12 properties in Q3 2025, according to Fleet Mortgages' latest Buy-to-Let Rental Barometer. Landlords with 15 or more buy-to-let properties made up 30% of applications in Q3, up from 23% a year ago, while those with four or more properties accounted for 66%. Applications from landlords with one to three properties decreased to 24%, though first-time landlord applications slightly increased to 10%. Average annual rental yields across England and Wales also rose to 7.9% in Q3, a 0.4% year-on-year increase.

AI A landlord and his company received a suspended jail term and substantial fines for fire safety failures at two residential properties in Lancashire. Jamie Carter was sentenced to 12 months' imprisonment, suspended for 12 months, and fined £8,652. His company, JC Land Investments Limited, was fined £200,000. They were also ordered to pay £37,293 in costs and victim surcharges totalling £346. The convictions at Preston Crown Court in August 2025 followed guilty pleas to multiple breaches of the Regulatory Reform (Fire Safety) Order 2005, identified by Lancashire Fire and Rescue Service at Victoria Hall in Bacup and Belgrave Chapel in Darwen, after inspections in October 2021 revealed issues like obstructed escape routes and inadequate fire detection.

AI The National Residential Landlords Association (NRLA) has criticised the upcoming 'Register your rental property' database, set to launch across England in December. The NRLA estimates the database will cost landlords a minimum of £327 million annually, significantly higher than the original government projection. Landlords will now pay £65 per property per year, instead of the previously estimated £28.58 for a three-year registration. The NRLA highlights that much of the required information duplicates existing council licensing schemes and that manual uploading of safety certificates will increase administrative burdens. For landlords: The new database will introduce an annual £65 per property registration fee across England from December.

The address is the former home of Sir Paul’s childhood friend Ian James

AI The average five-year fixed homeowner mortgage rate in the UK has reached 6% for the first time in three years, according to Moneyfacts. On Monday morning, the typical rate was 6.00%, an increase from 5.98% on Friday. This marks the highest average five-year rate since September 27, 2023, when it stood at 6.03%. The average two-year fixed-rate homeowner mortgage was just under 6% on Monday morning. For landlords: Mortgage costs for properties with five-year fixed-rate homeowner mortgages have increased.

AI HM Revenue and Customs has issued a reminder to landlords regarding Making Tax Digital for Income Tax (MTD). Landlords with a turnover exceeding £30,000 must use MTD from April 6, 2027, with the threshold decreasing to £20,000 from April 2028. This change will affect approximately 1,077,000 additional sole traders and landlords, requiring them to maintain digital records and submit quarterly income and expense updates using compatible software. HMRC advises early preparation to ensure correct details and allow time to select suitable software. For landlords: Landlords with a gross income from property and self-employment over £30,000 will be required to use Making Tax Digital for Income Tax from April 6, 2027.

AI Generation Rent's CEO, Holly Williamson, has supported Green Party leader Zack Polanski's proposal for rent controls. Polanski advocates limiting private rent increases to the lowest of CPI inflation, wage growth, or 2% for three years, aiming to provide "breathing space" for renters and encourage a permanent "Fair Rents Guarantee." He made these remarks at his party conference. Polanski is a candidate in the Holborn and St Pancras by-election, a London constituency where 32% of households rent privately. For landlords: A prominent activist group has publicly backed a specific rent control policy proposed by a political leader.

AI Specialist buy-to-let lender Rely assisted a first-time landlord in purchasing a property valued at £865,000, located near London Bridge. The landlord required a £160,000 loan at 20% LTV on a two-year fixed rate, with the property projected to yield £2,000 monthly rent. Other lenders had declined the application due to concerns about saleability. Rely used a desktop valuation to expedite the process, demonstrating an individual assessment approach. For landlords: This highlights a lender's willingness to finance properties in central London locations that other lenders might deem problematic.

AI Hackney Council, led by the Green Party mayor Zoe Garbutt, has initiated a "zero tolerance" crackdown on landlords in the borough from this month. The council is increasing inspections and pursuing maximum fines and penalties for private landlords providing substandard or unsafe housing, citing a focus on fire safety. This enforcement drive includes a new team of over 50 officers and has already resulted in one landlord being fined £30,000 for fire safety failures. The council is also leveraging the Renters Rights Act and its new landlord licensing scheme to penalise non-compliant landlords. For landlords: This indicates a heightened regulatory and enforcement environment for private landlords operating in Hackney.

AI Deposit alternative provider Zero Deposit has partnered with shared-living platform COHO. This collaboration allows COHO tenants to access Zero Deposit products during their tenancy application. The partnership aims to offer COHO landlords regulated protection and greater choice for prospective tenants. COHO's platform, which supports 150,000 tenancies, already provides tools for tenant onboarding, referencing, and rent management, specifically for shared-living properties. This integration seeks to streamline applications and reduce delays. For landlords: This partnership provides an additional option for deposit management within the shared-living sector.

AI New changes to the UK's Right to Work framework, effective this month, extend civil penalty liability for illegal working along chains of contracts. A property booking platform, Klerky, suggests this could impact letting agents who use contractors for property inspections or maintenance, particularly if arrangements are informal. Under the Border Security, Asylum and Immigration Act 2025, businesses subcontracting work or operating platforms matching service providers can be held liable for right to work breaches, even without a direct employment relationship. Civil penalties are capped at £45,000 for a first breach and £60,000 for subsequent breaches per illegal worker. Home Office data for 2025 shows 2,438 penalties issued, totalling over £130m. For landlords: This may affect the processes and due diligence undertaken by letting agents when engaging contractors for property services.

AI New regulations concerning damp and mould, tenancy succession, and wrongful termination came into effect in Scotland today. Private landlords in Scotland must now ensure a competent person investigates damp and mould reports within 10 working days, providing a written summary to the tenant within three working days of completion. Remedial work for substantial issues must start within five working days. Additionally, the qualifying period for tenancy succession after a tenant's death will reduce from 12 to six months for tenancies where the tenant dies on or after 6 October 2026. The potential financial penalty for wrongful termination of a Private Residential Tenancy will also increase significantly for tenants leaving on or after 6 October 2026.

AI Average annual rental yields across England and Wales rose to 7.9% in Q3 2026, up from 7.5% in Q3 2025, according to Fleet Mortgages' latest Buy-to-Let Rental Barometer. Most regions saw positive yield trends, with Yorkshire & Humberside reaching 9.3%. Greater London recorded the lowest yield at 6.4% but maintained the highest average monthly rent at £2,597, an increase of nearly 10% since Q2. The report also indicated a growth in professional landlords, with the average number of investment properties owned by Fleet borrowers increasing from 12 in Q3 2025 to 18 in Q3 2026. For landlords: Greater London's average rental yield was 6.4%, while its average monthly rent was £2,597, up nearly 10% since Q2.