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Welcome to the February edition of the Total Landlord Insurance Newsletter.
We lead this newsletter with the news that 10.7% of all rent is late or unpaid, a figure that amounts to £300.3 million. The current uncertainty around the economic situation for many tenants could mean that more landlords might expect to experience this.
At the start of February we launched a new product Total Rent Guarantee. This product is designed to offer landlords better protection if they are unfortunate enough to be in such a position, where a tenant is behind in rent payments.
We are also offering our existing customers a 25% discount on our full profile tenant check service. Just enter the code 'deal25' at the checkout to receive your discount.
Yours faithfully,
The Total Landlord Insurance Team
In the news this month | |
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10.7% of all rent 'late or unpaid' |
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 Unpaid rent in January totalled £300.3 million as 10.7% of all rent payments were missed in the first month of 2012, according to figures released by LSL Property Services.
LSL's report also predicted that with more severe job cuts forecast for the coming year, there is likely to be a short term growth in the number of missed payments.
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Buy-to-let boom shows no signs of stopping as landlords snap up property worth £160bn |
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Britain is in the grip of a buy-to-let boom, with landlords snapping up property worth £160billion.
The Council of Mortgage Lenders yesterday revealed that there are a record 1.4?million ‘landlord loans’ currently being invested into properties, as older Britons cash in on soaring rental demand from young people who cannot afford to buy their own home.
With low interest rates wiping out income from savings but making mortgage repayments cheap, a buy-to-let property, boosted by rents close to all-time highs across the country, can prove an easy money spinner for both amateur and professional landlords. | |
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Landlords see property as pension |
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Landlords regard their property portfolio as an important part of their post-retirement income, as their confidence in the economy slumps to an all-time low.
A survey by the National Landlords Association (NLA) has found 81% of landlords expect to rely on their portfolio to help them financially after they stop working.
The news comes after the number of savers contributing to pensions dropped by 8% in the last 10 years – from 46% to 38% of all employees.
The NLA survey also found that landlords are increasingly pessimistic about the UK economy, with confidence dropping to a record low of just three points, down from 11 points one year ago. To view the article in full click here | |
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Tenants urged not to bury their heads in the sand |
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Private tenants in receipt of housing benefit have been urged to contact landlords to negotiate rents.
Housing benefit caps which where enforced on new tenancies in April last year, are now imposed on all existing tenancies throughout the UK.
The benefit caps will short change rents approximately £600 per year for the average rented property, except in London, where the shortfall is drastically higher.
Miles Turner, director of eviction specialists, Turner & Howard, is urging tenants to contact their landlords if the benefit caps will result in arrears. | |
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| Total Tenant Referencing 25% discount offered |
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 How well do you know your tenant? Are they who they say they are? Don't be caught out by a rogue tenant!
Want peace of mind? Check it, let it, get it with Total Tenant Referencing. Choose from one of three great options:
Basic Profile -£12
Full Profile - £28 25% discount with code 'deal25' £21- Suitable for Total Legal Expenses and Rent Guarantee Insurance policies
Company Profile - £20
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| Total Landlord Insurance |
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| Tel: 0800 63 43 880 | Fax: 0845 310 6301 |
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| Kingmaker House | Station Road | New Barnet | EN5 1NZ | | |
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Total Landlord Insurance is a trading name of HFIS plc, and are authorised and regulated by the Financial Services Authority. Member of the British Insurance Brokers Association (Member number: 00479)
HFIS plc is registered in England(Registration number: 3252806)
with its registered office at Elwood House, 42 Lytton Road, Barnet, Hertfordshire, EN5 5BY. |
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