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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Code of practice to help pub tenants

Category : Business

Proposals to help struggling pub tenants are unveiled by the government, including a new code of practice and a “powerful” adjudicator.

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Advisory-Toronto ACORN: City is Failing Tenants, Healthy Homes Aren’t Gravy

Category : Stocks

TORONTO, ONTARIO–(Marketwired – April 18, 2013) - ACORN members will be at city hall on Thursday to respond to a report on the city’s efforts over the last four years to crack down on slum landlords. The city has been quietly cutting inspection and enforcement programs designed in 2009 to help make sure tenants have safe, clean places to live.

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‘Clamp down on letting agents’ call

Category : Business

More must be done to help clamp down on rogue letting agents, industry experts and disgruntled tenants have told the BBC.

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West Ham secure Olympic Stadium

Category : Business, World News

West Ham will be the Olympic Stadium tenants after the government increases its funding by £25m to about £60m.

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Lettings agents ‘drip-feed fees’

Category : World News

Tenants and landlords have complained that some lettings agents “drip-feed charges” after a contract has been signed, a regulator’s report says.

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Buy-to-let landlords’ buying spree will keep more families in rental trap

Category : Business

Rightmove predicts three-quarters of professional landlords will buy more homes in 2013, as MPs begin to look at the issue

Buy-to-let landlords will embark on a home buying spree in 2013 while young adults and families remain trapped in rental properties, according to a forecast by Britain’s biggest property website.

Three out of four professional landlords will buy more homes in 2013, while the number of “virgin landlords” looking to buy for the first time is running at the highest level for a year, the research from Rightmove found. Meanwhile, 53% of tenants say they are trapped in renting, wanting to buy a home but unable to afford to do so.

The research is published as a committee of MPs begins a formal investigation into the problems facing Britain’s “Generation Rent”. The Commons communities and local government committee will examine the potential need for rent controls, regulation of landlords and letting agents, and a revision to tenancy contracts.

Urgent action is needed to tackle rogue landlords and rip-off letting agent fees, according to the Local Government Association (LGA), which represents 370 councils across England and Wales. It found that tenants are being asked to pay as much as £500 in non-refundable administration fees to letting agents on top of the rent and deposit.

Tony Newman of the LGA will give evidence to the committee on Monday. Before his appearance, he said: “With the housing market stagnant and a shortage of mortgages available to help first-time buyers, people are increasingly turning to the private rented sector to find a home.

“For many people looking to rent, the up-front costs of a deposit and agency fees can be huge. We’ve heard stories of some letting agents charging hundreds of pounds just to carry out basic credit and reference checks.”

Bank lending to landlords fell sharply during the financial crisis but has surged in recent months, boosted by the funding for lending scheme designed to help small businesses and first time buyers. Interest rates on buy-to-let loans have tumbled – Skipton, Coventry and Birmingham Midshires all cut rates for landlords last month – and lending volumes are rising. In the last quarter of 2012, loans to landlords were up 8% to £4.2bn, with new entrants such as Interbay Commercial jostling to offer mortgages of up to £1m spread over 30 years.

Rising rents (yields average 5.7%) and low-cost mortgages (now below 4%) will spur small landlords to buy more properties in 2013, said Rightmove, even if the long-anticipated investment from institutions such as pension funds has failed to materialise.

Rightmove director Miles Shipside said: “While the cavalry charge from major institutions seeking to invest in the private rented sector has so far failed to materialise, private landlords, whether accidental, virgin or professional, are seizing the opportunities that come with having the battlefield to themselves.”

But campaigners at Priced Out, a group representing tenants unable to afford to buy, said without new building, landlords are simply displacing first-time buyers.

Media Advisory: Toronto ACORN Members Demand Progress From City Hall on Healthy Homes

Category : Stocks, World News

TORONTO, ONTARIO–(Marketwire – Feb. 2, 2013) - Members of Toronto ACORN will gather at city hall on Monday, February 4 to call on the City of Toronto to do more to ensure that tenants live in Healthy Homes.

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Christmas ’causes missed rent’

Category : Business

Rent arrears hit their highest level for nearly a year in December as Christmas took its toll on tenants’ finances, a survey suggests.

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Average rents up to £712 a month

Category : Business

The average rent being paid by private tenants in England and Wales rose again in May, to £712 a month, a report says.

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Average rents up to £712 a month

Category : Business, World News

The average rent being paid by private tenants in England and Wales rose again in May, to £712 a month, a report says.

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