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Novice landlords face legal perils

Would-be sellers turned landlords run the risk of fines and even prison if they let out properties without understanding rental regulations.

Paragon Mortgages is warning that so-called accidental landlords – who let out their properties to avoid selling at a loss – risk fines or prison terms if they don’t comply with the appropriate legislation.

Inadequate deposit protection and lack of gas safety or energy certificates are just some of the pitfalls facing unwitting landlords.

John Heron, managing director of Paragon, says: “The onus is on landlords to comply with all relevant regulations as they are liable if some- thing goes wrong even if they employ the services of letting or managing agents. Ignorance of legislation is no defence.”


Average house price slumps to 2006 level

House prices in England and Wales fell by 0.9% in March, taking them back to March 2006 levels, shows the latest data from Acadametrics.

West Bromwich denies Coventry merger talks

West Bromwich has denied that it is in merger talks with rival mutual Coventry and says the future of the society’s national brokerage Mortgageforce is assured.The comments come from Robert Sharpe, who took over as chief executive of West Brom last autumn.In an upcoming interview in Lending Strategy, Sharpe says: “We are not talking to […]

Rays of hope on the housing market horizon

Reasons to be cheerful may have been thin on the ground in the past couple of years but I have noticed some positive signals in the housing market recently.

Regulator should take reckless brokers to court

I was shocked and appalled by the story I read recently on Mortgage Strategy Online about the Financial Services Authority banning a director of an adviser firm for reckless behaviour – encouraging clients to remortgage their properties to raise funds to invest (Mortgage Strategy Online April 6).


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