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The discussions revolved around a number of key issues impacting the BTL market and a common thread that kept appearing was the need for landlords to get good quality tax advice. This article covers the first of a series of 4 discussions around today’s BTL market. Withdrawal of Interest relief Up until 2016/17 tax year landlords could deduct mortgage interest and other allowable costs from their rental income, before calculating their tax liability. From 6 April 2020, tax rel

The Office of National Statistics has released the English Housing Survey 2017 to 2018: private rented sector. Report on the characteristics and circumstances of private renters in England. Click here to download the full report. The Finding of the report concluded: The majority of private renters are satisfied with their accommodation and tenure, though not as satisfied as owner occupiers. The majority (84%) of private renters were satisfied or very satisfied with their c

There is a potential loophole on landlords insurance. This is that most, perhaps all, policies now available exclude cover for any damage caused by illegal activities. This leaves an uncomfortable situation where if, for example, your buy-to-let house was burned down by a tenant and it was discovered that some form of illegal activity had been going on, the insurance company might well not pay anything towards the cost of repair. However well you know your tenant, or however of

Arranged this loan over a year ago and have rented the property until recently, but sadly our elderly tenant died. The property was found to be in excellent condition, so much so, that we are thinking of taking it over as a second home and to cease any future rentals. We have always kept all mortgage payments up to date, but am slightly concerned even though we plan to stay no more than a few days a month, as we have a main residence elsewhere, that we may be in breach of our m

I have just received a letter from Eon saying they have “issued a safety warning notice stating that the boiler is unsafe to use” in a house I rent out. They wanted to shut the boiler down, but the tenant (a very good one) refused to accept the notice or allow them to shut it down because the reason is ridiculous and both “engineers” who visited admitted they are not gas-safe registered...

II was recently speaking to a Debt Collector. He was a nice chap, but there was one flaw. The Debt Collector had not put the subject property on the letter and I did not have a clue which address it was....

When buying a shared ownership property, the lease I thought I was buying into was 125 years. This was the paperwork received from the solicitor. The property was purchased in 2008. 11 years down the line and having recently decided to sell the property it now appears the housing association are saying there is only 88 years on the lease and it was 99 not 125 which was issued by the solicitor to me....

Mark Hayward, Chief Executive, NAEA Propertymark and David Cox, Chief Executive, ARLA Propertymark comment on the final report from the Regulation of Property Agents (ROPA) working group: “This is a significant moment for those in the property industry and a huge leap forward in stamping out bad practice....