Are you an accidental landlord?
If you inherit a property but can't sell it, if you have to move to take on a new job, or if you've split with your partner, you may be finding it's not easy to sell houses at the moment. After a while, renting seems like a great way forward and many simply market the property, get a tenant, and think everything's sorted. The least you need to consider is buy to let insurance as this article explains. 02:54 PMRent your London home for the Olympics and rake in £4,500
Many who live within travelling distance of the Olympics are looking forward to a bonanza from letting out spare rooms or their whole house.
Before you do that, consider your mortgage lender, landlord insurance and the taxman.
Here's a some sound advice if you're thinking of doing it.
01:57 PMNew intentional landlords move to rent and let their home
The lacklustre housing market means a rise in "intentional landlords", "reluctant landlords" or "accidental landlords", people who want to move, can't sell their homes and opt to move into rented accommodation while renting out their own home.
These are new to the experience of being a landlord and don't currently have buy to let insurance.
The full story along with lots of market information is in this article in the Independent newspaper.
02:36 PMBuy to let insurance policyholders enjoy highest rents rises
Buy-to-let landlord insurance policyholders will be happy that rents have continued to rise for the fourth month in a row to an average of £696 per month this May, up £30 (4.4%) on last year.
The average yield remained at a record high of 5.1% in May.
However the average rent rise masks faster growth for landlords in London, the North East and the East Midlands, but fell in the West Midlands, the South West and Wales.
Read the full story here
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