Remains to be seen how this will work, but every little helps ………
https://gds.blog.gov.uk/2014/08/29/5-live-civil-claims-evict-a-tenant-using-accelerated-possession/
What are other members...
I can’t find if this has been asked before.
If I agree to let a property where the rent includes the utility bills, are those bills an allowable expense for tax purposes?
Thanks
Lou Valdini...
The market for flats is moribund due to leasehold and cladding. The cladding issue is gradually being addressed, with more blocks receiving their EWS1, but leasehold remains the major obstacle to selling and buying flats.
Lenders were happy to give mortgages on leases with ground rents which had already breached or would breach the £250/£1000 threshold when they effectively became ASTs. Yet, they now refuse to remortgage and lend on those same leases. What changed and why?
Is Skipton an exception to this ridiculous practice? If so, I will recommend Skipton to anyone needing a mortgage for a flat.... Read More
This problem will hit thousands of 'small' landlords who invested in BTL for their pension after Gordon Brown raided the private pension industry. If you can't fund your retirement when the time comes, you will struggle at a time when you should be enjoying life.... Read More
A yield of 5.49% isn't viable unless you can stick in for the long term, keep costs and voids to a minimum, and rely on capital appreciation... when you will be hit by CGT.... Read More
With ideology built on communism, it's hardly surprising they believe rule by dictat is the way forward. The only problem is, we have a capitalist economy, where investors can choose where to invest, without worrying about a Chinese or North Korean dictator throwing you in jail and confiscating your wealth if you don't do as you're told.... Read More
As usual, shelter and GR picking a single example to vilify the entire PRS. Except, the example used is totally irrelevant. Lodgers do not rent an entire property, and as such, where they live is not 'their home' it's their room in someone else's home.
I can imagine why someone would not want their lodger in their home all day, using their gas and electric, while they are out at work. I remember we had 2 lodgers 60 years ago. They knew they had to be out of our house by 08.00 and had to use the public baths on a regular basis. They paid their rent on time and never complained. But... WFH was never a thing until recently.... Read More
Not like the old days. I hold shares which have a value and can be easily traded, and receive dividends which I reinvest. This particular REIT received government seed funding.... Read More
The reason why titles aren't merged is because the freeholder may wish to sell the leasehold at a future date. However, no reason why the freeholder can't extend his own lease at zero cost if the lender insists. But that's ridiculous because there is no risk where freeholder and leaseholder are one and the same.... Read More
"Nothng seems particularly out of order here". There speaks a managing agent!
If the insurance has increased by 100%... for a 2 flat property, and the dates are wrong, that is 'particularly out of order!
I have been a Share of Freehold Co sec., been through 2 RTMs, and am currently director of one. Our insurance, on a block of 137, increased by 4.5% this year. If we can do it, so can they.
This is pure profiteering, and needs to be referred to the First Tier Tribunal. However, leaseholders pay their own costs, which MAs and freeholders know, and these will negate any potential savings.
I recommend you go RTM ASAP. You have 100% buy-in, and just need to get the process right. Use a specialist.... Read More
11:44 AM, 26th July 2024, About 14 hours ago
The market for flats is moribund due to leasehold and cladding. The cladding issue is gradually being addressed, with more blocks receiving their EWS1, but leasehold remains the major obstacle to selling and buying flats.
Lenders were happy to give mortgages on leases with ground rents which had already breached or would breach the £250/£1000 threshold when they effectively became ASTs. Yet, they now refuse to remortgage and lend on those same leases. What changed and why?
Is Skipton an exception to this ridiculous practice? If so, I will recommend Skipton to anyone needing a mortgage for a flat.... Read More
10:30 AM, 25th July 2024, About 2 days ago
This problem will hit thousands of 'small' landlords who invested in BTL for their pension after Gordon Brown raided the private pension industry. If you can't fund your retirement when the time comes, you will struggle at a time when you should be enjoying life.... Read More
10:23 AM, 25th July 2024, About 2 days ago
A yield of 5.49% isn't viable unless you can stick in for the long term, keep costs and voids to a minimum, and rely on capital appreciation... when you will be hit by CGT.... Read More
9:15 AM, 20th July 2024, About 7 days ago
Reply to the comment left by Cider Drinker at 19/07/2024 - 22:28
'If I can earn 5% in £250k in a bank account, I would need more than this (after other costs) to rent out a property...'
This is BTL in a nutshell.
Everyone talks about x% or y% 'yield', but the only word that matters in any for-profit business is... PROFIT.
I will actually be subsidising my remaining BTL until my mortgage rate drops.... Read More
12:26 PM, 19th July 2024, About A week ago
Reply to the comment left by Ian Narbeth at 19/07/2024 - 12:14
With ideology built on communism, it's hardly surprising they believe rule by dictat is the way forward. The only problem is, we have a capitalist economy, where investors can choose where to invest, without worrying about a Chinese or North Korean dictator throwing you in jail and confiscating your wealth if you don't do as you're told.... Read More
12:20 PM, 19th July 2024, About A week ago
Reply to the comment left by dismayed landlord at 19/07/2024 - 12:16
Now she's got her pals in No10, let's see how critical she will be of them when they don't deliver... because they won't!... Read More
12:01 PM, 19th July 2024, About A week ago
Reply to the comment left by Ron H-W at 19/07/2024 - 10:19
And then there will be all the net zero EPC costs to hermetically seal older properties, many of which simply can't comply.... Read More
11:57 AM, 19th July 2024, About A week ago
Reply to the comment left by dismayed landlord at 19/07/2024 - 10:16
Clarkson's Hawkestone Cider is excellent.... Read More
15:53 PM, 11th July 2024, About 2 weeks ago
Reply to the comment left by TrevL at 11/07/2024 - 15:21
Brilliant. Not that sort of performance but I'm not complaining. Probably makes us prime targets for Labour.... Read More
11:17 AM, 11th July 2024, About 2 weeks ago
Reply to the comment left by Neil P at 11/07/2024 - 10:40
... Read More
12:59 PM, 10th July 2024, About 2 weeks ago
As usual, shelter and GR picking a single example to vilify the entire PRS. Except, the example used is totally irrelevant. Lodgers do not rent an entire property, and as such, where they live is not 'their home' it's their room in someone else's home.
I can imagine why someone would not want their lodger in their home all day, using their gas and electric, while they are out at work. I remember we had 2 lodgers 60 years ago. They knew they had to be out of our house by 08.00 and had to use the public baths on a regular basis. They paid their rent on time and never complained. But... WFH was never a thing until recently.... Read More
19:20 PM, 8th July 2024, About 3 weeks ago
Reply to the comment left by GlanACC at 08/07/2024 - 14:56
Not like the old days. I hold shares which have a value and can be easily traded, and receive dividends which I reinvest. This particular REIT received government seed funding.... Read More
13:04 PM, 8th July 2024, About 3 weeks ago
Reply to the comment left by JeggNegg at 06/07/2024 - 14:37
... Read More
12:51 PM, 8th July 2024, About 3 weeks ago
Reply to the comment left by Tom McGrath at 04/07/2024 - 13:32
Let's see A Rayner try to justify that one! Same as Lady Nugee, except she and her husband did it on a grander scale in Islington.... Read More
11:56 AM, 6th July 2024, About 3 weeks ago
Reply to the comment left by Judith Wordsworth at 06/07/2024 - 10:28
The reason why titles aren't merged is because the freeholder may wish to sell the leasehold at a future date. However, no reason why the freeholder can't extend his own lease at zero cost if the lender insists. But that's ridiculous because there is no risk where freeholder and leaseholder are one and the same.... Read More
10:49 AM, 5th July 2024, About 3 weeks ago
Reply to the comment left by Kizzie at 05/07/2024 - 10:39
Sorry, but what does this have to do with the minimum number of flats for RTM?... Read More
10:15 AM, 5th July 2024, About 3 weeks ago
Reply to the comment left by Fiona Burns-Brannan at 05/07/2024 - 08:39
I thought a block was at least 2 leasehold flats in a single building.... Read More
14:03 PM, 4th July 2024, About 3 weeks ago
Reply to the comment left by JB at 04/07/2024 - 13:30
Ha! Ha!... Read More
13:14 PM, 4th July 2024, About 3 weeks ago
Reply to the comment left by Stella at 04/07/2024 - 10:56
Another example of the Tories having had enough. They didn't want the mess that is now London.... Read More
12:36 PM, 4th July 2024, About 3 weeks ago
Reply to the comment left by Graham Bowcock at 04/07/2024 - 10:31
"Nothng seems particularly out of order here". There speaks a managing agent!
If the insurance has increased by 100%... for a 2 flat property, and the dates are wrong, that is 'particularly out of order!
I have been a Share of Freehold Co sec., been through 2 RTMs, and am currently director of one. Our insurance, on a block of 137, increased by 4.5% this year. If we can do it, so can they.
This is pure profiteering, and needs to be referred to the First Tier Tribunal. However, leaseholders pay their own costs, which MAs and freeholders know, and these will negate any potential savings.
I recommend you go RTM ASAP. You have 100% buy-in, and just need to get the process right. Use a specialist.... Read More