The Mortgage Verification Scheme

Apparenty the Mortgage Verification Scheme started on the 1st September 2011. It is only mentioned in the 2010 budget here where it says:

“Income Verification Scheme

The Income Verification Scheme, through which HMRC has details of potentially fraudulent income declarations of individuals applying for a mortgage referred to it by financial institutions, is to become an ongoing facility. “

This article here states that financial services press releases have been made which clearly state the aim of the Mortgage Verification Scheme to be to combat potential mortgage fraud. Mortgage lenders will now be able to check with HMRC that mortgage applicants’ stated income levels tie in to those reported on tax returns.

Guardian Article about this mortgage verfication scheme – Anyone tempted to inflate their salary – or even submit fake payslips or bank statements – when applying should be aware that, if they are rumbled, they could find themselves being investigated and possibly prosecuted for frau

Arrears climb as rents reach all-time high

This strikes me as one of the strangest headlines ever “Arrears climb as rents reach all-time high ” – perhaps it’s just not strange, just something that should probably cause landlords to stop and think.

The article goes on to say “It says that 10.7% of all UK rent was unpaid or late by the end of August – up from the 9% of rent unpaid or late in July. ” and “Rents rose by their fastest rate in a year in August, bouncing up 1.2%, ”

The findings are in this morning’s new buy-to-let report from LSL, which owns national chains Your Move and Reeds Rains.

article available here on Landlord Today

Rents going up and tenants struggling to pay? Could these two be related?

shameful shoebox

Many new houses in the UK are “shameful shoebox homes” which are too small for family life, the Royal Institute of British Architects (RIBA) has said
BBC News article

I think new builds are tiny, too close together and horrible.
Especially town houses which sometimes put a lounge on the first floor. They have little storage, tiny gardens and narrow garages.

Another recording studio

Huge music studioThis might be an ex-member of Delirious’s home. (see the shirt on the recording studio wall)
It’s more the sort of place I’d expect to see a music studio in.
7 bedroom house for sale
Guide Price
£2,250,000
The Street, Rustington, West Sussex, BN16

Planning changes article

Interesting article about how developers are being urged to lobby David Cameron to ensure proposed changes take place

Whether it puts countryside at risk is up for discussion but now is the time to write to your MP. Even if you only suggest that greenbelt should be used only after all local brownbelt is used up…

There’s some ideas for a letter to your MP here – customise it – and add personal comments to ensure it’s relevant to your area.