And in Other News (April)

And in Other News (April)

Bank of England proposes tighter regulation of buy-to-let

New Section 8 Notice

Bank of England proposes tighter regulation of buy-to-let


The Bank of England (BoE) this week put forward proposals for tighter regulation of the buy-to-let market, including a requirement on lenders to consider all potential costs for landlords, such as personal tax liabilities and living costs. The BoE is consulting on the proposals, which could lead to a 20% reduction in lending to landlords over the next three years. The consultation closes on 29 June; please contact Will Bushby (This email address is being protected from spambots. You need JavaScript enabled to view it.) for more information.

New Section 8 Notice

With thanks to our friends at Nearly Legal for alerting us to new regulations made on the 23rd March 2016.

As from 6th April 2016 a new prescribed form will be required when you serve a Section 8 of the Housing Act 1988 Notice. For any such notices on or after that date you must use the prescribed form. Remember this is the notice you serve when ending the tenancy typically for rent arrears or other breaches of tenancy.

The Section 13 notice has also been changed.

The amendments are made by Regulation. Essentially the amendments are minor and to correct formatting and drafting errors and in respect of the Section 8 Notice to refer to the new form 6A prescribed form for giving notice under Section 21 of the Housing Act 1988. They should not however be ignored.

Written & oral information and advice from the Portsmouth & District Private Landlord's Association is given in good faith, but no responsibility whatsoever is accepted by the Association or it's officers for the accuracy of it's information & advice nor shall the Association be held responsible for the consequences of reliance upon such information.

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