The Association of residential letting Agents (ARLA) has launched a free online comparison site specifically for landlords and the buy-to-let market.
The ARLA Mortgages service was unveiled at the 2010 ARLA Conference in conjunction with sister products NAEA Mortgages for residential purchases and ICBA Mortgages for the commercial property sector.
The association says consumers will be able to enter their details and needs on the site and be matched with the best mortgage option for their financial situation.
“We’ve had a wealth of requests from our members to offer this comparison service,” said Ian Potter, Operations Manager at ARLA. “A healthy PRS is vital to the success of the housing industry and for potential landlords, being able to secure the best mortgage is key to becoming a profitable landlord.
“As with any borrowing it is essential that full information is available to a borrower in order that they can make an informed decision in connection to the potential of their purchase. This mortgage offering will enhance the services available from our members, who can assist with concerns around the suitability of a property and its likely rental figure.
“This should have the benefit of assisting the landlord and, at the same time, providing tenants with a better choice in the marketplace.”
For more information visit www.arla.co.uk/mortgageservices
• A Leeds based property management and letting agent has been found guilty in Leeds Magistrates Court for failing to properly manage a licensable House in Multiple Occupation.
YourStudentHome.com Ltd, based in Headingley, was fined £1,500 and ordered to pay £516 costs at a recent hearing.
The firm had pleaded guilty to the charge that the smoke alarms provided at the five-bedroom shared student house at 17 Claremont Avenue were not maintained in good working order.
The case came about as a result of an inspection of the property by an officer from Leeds City Council. They found that the fire alarms were not working, putting the five tenants at serious risk if a fire had broken out.
In order to protect the tenants the council officer arranged for West Yorkshire Fire and Rescue Service to visit the property to provide temporary smoke alarms.
Under the Housing Act 2004 all Houses in Multiple Occupation (HMOs) are required to have fire alarm systems and there is a legal duty on managers of these properties to ensure that fire alarm systems are maintained.
Cllr Les Carter, Leeds City Council executive board member for housing, said: “Our HMO licensing scheme is there to protect tenants and help landlords maintain standards, make sure that rented accommodation in the city is safe.”
