Posts with tag: Peterborough

MP slams new scheme aimed at helping slum landlords

Published On: February 28, 2017 at 9:47 am


Categories: Landlord News

Tags: ,,,,

A new scheme designed to assist landlords with housing repairs in Peterborough has been slammed by a local MP.

Writing in his Westminster Life column in the Peterborough Telegraph, Stewart Jackson MP took aim at Peterborough City Council’s initiative to deal with so-called slum landlords. The scheme plans to assist these landlords with housing repairs using £1.2m of public money from the capital budget.


In his article, Jackson wrote:

Yes – these are landlords currently collecting rents for tenants already living in their substandard or dangerous properties – but who apparently cannot afford to repair and maintain their own properties properly or meet the appropriate regulatory and licensing arrangements.’

‘Apparently, we’re meant to be sympathetic to these folk who take issue with a basic requirement not to allow a property to be “seriously overcrowded!?!” 900 of them lacked gas safety certificates and worse. That’s YOUR money which could build new homes or give local working families a lift up by paying their deposit on a new house via rent or mortgage.’

‘Scrub that. I do know what I think. It stinks.’[1]


Mr Jackson said he thought it was a disgrace that landlords expect the taxpayer to foot the bill for these improvements.

Continuing, he noted:

Am I missing something? I think the technical term is more hazard. What message does it send to good and ethical landlords in our city who presumably have to pay for the upkeep of their own properties which after all are their own capital assets? Isn’t it completely undermining the whole point of the licensing scheme, if we choose to reward slum landlords (at average £3,500 a pop) and allow them to stay and continue to ply their dubious trade in the lettings market?’[1]

MP slams new scheme aimed at helping slum landlords

MP slams new scheme aimed at helping slum landlords

Peterborough City Council thinks what we need is a lot of carrot but where’s the stick eh? Aren’t we embarrassed that our city has recently featured on Channel 5’s “Britain’s Rogue Landlords”? Why aren’t these people in court? Why are they not named and shamed? Why are their tenants more deserving than the hundreds on the housing waiting list to whom the money could be better directed.’[1]

Wrong Turn

Concluding, Mr Jackson called for a reconsideration:

‘We need to know why paying out this cash will allegedly drive up health outcomes more than say allowing young couples to buy these houses and convert them at their own expense, thus improving the residential neighbourhoods?’

‘Are the applicants for this programme (dodgy landlords) self-selecting and what methodology has been used to assess their merits? How will the legal agreements and loan arrangements be prepared and at what cost? What pressure has been exerted on council officers? Why hasn’t this policy been properly debated by the City Council Cabinet?

‘I fear that the council has taken a wrong turn and is failing to deal with the fundamentals.’

‘They are either committed to cleaning up slum tenancies and protecting tenants and improving neighbourhoods or they’re not.’

‘They need to reconsider this policy before it goes any further.’[1]



Peterborough best place to invest in property

Published On: January 24, 2012 at 12:01 pm


Categories: Property News

Tags: ,

A recent survey by a recognized chain of estate agents made Peterborough the surprise winner of the best place in England to make an investment in rental property.

Haart estate agents’ new Yield Index shows that typical yearly returns on one, two and three-bedroom property in Peterborough are the greatest in the country. The returns are greater even than that of London.

Data records

Haart’s findings suggest that an investor buying a one-bedroom abode in the town could expect a return of around 8.7% per annum.[1] Two bedroom properties return around a 9% profit per year, with three-bedroom homes generating an average of 6.7%[2].

On the whole, the East of England came out on top in terms of generating the best rental profits in Haart’s operational areas. The East Midlands came in second, with South Yorkshire completing the podium positions. London ranked only fourth in the findings.

Peterborough best place to invest in property

Peterborough best place to invest in property


A rising rental tide

Peterborough’s position at the top of the investment return standings comes as little surprise, according to Haart’s managing director Andrew Benn. London is still proving a profitable area in which to invest, with yields of between 5%-7% per annum manageably achievable[1]. However, Mr Benn believes the trends could be changing, with the country, ‘starting to see investors focus more on other parts of the country, such as Peterborough.[2]

Benn also believes that the recent rise in rental prices are also a catalyst for the increase of buy-to-let profit in town’s such as Peterborough. Benn said that, ‘rising rents, are offering prospective landlords annual returns of up to 9%, a yield they simply wouldn’t be able to achieve with other forms of mainstream investment.[1]