Section 21 Tenant Evictions Notices are now
6 MONTHS NOTICE - applies from 29th Aug 2020
The PIMS Tenancy Agreement complies with the Tenant Fees Ban June 2019
In all fairness the EU Mortgage Directive understands the difference between buy-to-let lending and those buying their own homes. Within the Directive it does allow member states to opt out from the buy-to-let instructions within it, so long as they re-place it with a comparable framework.
The government is going for the opt-out and will introduce a set of minimum requirements that will meet its legal obligations. It feels it is unnecessary for a conduct of regulation for the buy-to-let sector to be introduced.
The Government accepts that the majority of buy-to-let lending is for commercial reasons, so it does not fall under EU regulation changes. There is a very small percentage of borrowers who are entering into the sector for personal reasons such as, when a borrower who used to live in the property has to take on a buy-to-let agreement as they are unable to sell the home, or if the home has been inherited.
The proposed framework will contain requirements for mortgage intermediaries to act on behalf of, or undertake activities to be enforced by the FCA (Financial Conduct Authority).
Those lenders and intermediaries who are FCA regulated will find it to be relatively simple to become registered, however those who are not will have to meet a set of requirements for acceptance.
Bridging loans and some other forms of property loans, are still exempt from the further rules implemented within the EU directive.
March 2016 is the date that the directives/reform will be introduced. The HM treasury recently stated : “The government is putting these in place now in order to give mortgage lenders and customers as long as possible to prepare for them.”
Immigration Act revised 2016 should a landlord or letting agent fail to ensure ALL tenants/occupiers have a righto reside for the duration of the tenancy then they may be fined £3000 for each breach. The Secretary of State may instruct the landlord to remove such persons without the need of a court order by way of reasonable force
Labour market enforcement - restriction on illegal migrants to work. A labour market enforcement undertaking (an “LME undertaking”) is an undertaking by the person giving it (the “subject”) to comply with any prohibitions, restrictions and requirements set out in the undertaking
Under section 42 of the County Courts Act 1984 it is possible for the Court to transfer a matter from the County Court to the High Court for enforcement but leave (permission) of the Court is required first. The transfer time varies from court to court and can take up to 28 days, but normally takes far less. An application to seek permission can be made either at the time of making the possession claim or after possession has been ordered.