Money Matters

Rumours abound that interest rates will rise in the near future and this has led to a remortgaging scurry.  Meanwhile, older borrowers may have difficulties finding affordable long term deals. 

The interest rate used to calculate how much help homeowners can get towards the interest on their mortgage is falling to 3.12% from 6 July 2015.  It's important that any homeowners who receive this payment as part of their benefits understand how this change will affect them.

An important question to be considered in respect of landlord and tenant law is whether a landlord can seek recovery of all the rent due under a tenancy i.e the remaining fixed term period, when a tenancy is brought to an end early.  As solicitor Chris McGrath explains, the landlord’s right to unpaid rent depends on how the tenancy ended.

A new statutory instrument takes effect on 20 January that will allow for the uprating of Local Housing Allowance by up to 4% in certain parts of Northern Ireland.  This is to prevent certain areas becoming unaffordable to tenants in receipt of housing benefit. 

Which areas will be affected?

This legislation provides for the LHA rate for the following size of dwelling in the following areas to be increased by up to 4%: