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Coventry Property News – December

Hi Guys, welcome back to this months’ edition of Coventry Property News. These were some of the recent headlines. For the full articles, please click on the links below Headlines

HM Land Registry reveals details of faster, more automated conveyancing https://www.estateagenttoday.co.uk/br…

Estate Agent Today reported that The Land Registry has revealed long-term plans to improve and speed up the conveyancing process. The Registry says that the increasing availability of online property information services and digital changes to how estate agencies operate has prompted it to respond. In other words, providing faster and better information to help speed up and simplify residential transactions.

Growing support for campaign urging mandatory inventories https://www.lettingagenttoday.co.uk/b…

According to Letting Agent Today InventoryBase has backed a campaign urging for inventories to be made mandatory in the lettings sector. The Association of Independent Inventory Clerks recently set up a petition on the government’s website arguing that independent inventory reporting of private rental properties on an Assured Shorthold Tenancy should be an industry standard. Now InventoryBase has come out in support, saying that by using independent inventory specialists a standard could be created, ensuring an absence of bias to the tenant or landlord.

Stamp duty is dampening housing market growth, says bank https://www.propertyinvestortoday.co….

The UK property market is becoming stagnant as people who wish to move homes are being hindered by Stamp Duty Land Tax (SDLT), according to a new report commissioned by Santander Mortgages. A report by The Centre for Economics and Business Research found that an additional 146,000 property transactions would have taken place between June 2012 and June 2017 if movers had not been faced with stamp duty costs.

1 in 32 rental properties in the Coventry area will be illegal in 2018 https://coventrypropertymarket.co.uk/…

New legislation comes in to force next spring for English and Welsh private landlords making it illegal to let a property that doesn’t meet a certain energy rating. After the 1st of April next year, any new tenant moving into a private rented property or an existing tenant renewing their tenancy must have property with an energy performance rating of E or above on the property’s EPC. After April 2018, if a landlord lets a property in the ‘F’ or ‘G’ ratings Trading Standards could fine the landlord up to £4,000. So I wanted to find out how many properties are there in Coventry that are F and G rated. Unfortunately, there are quite a few. Looking at the whole of the Coventry City Council area, of the 26,503 privately rented properties, there are 687 rental properties in the F banding and 142 rental properties in the G banding.

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Heenay Joshi
Coventry Property Expert

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