Readers Question

Agent’s Cancellation Charge even though contract has expired?

Author: Readers Question

27th December 2023, 3 years ago | 19

Hi all, My contract with both Agent and tenant has expired and has been running on a monthly rolling basis...

Can I change to SPV from a trading limited co. that I no longer need?

Author: Readers Question

21st December 2023, 3 years ago | 7

I’ve got a limited company that has accumulated surplus profits over many years and zero liabilities. I am now out...

Landlords duty of care to tenant?

Author: Readers Question

21st December 2023, 3 years ago | 16

Hello readers, I have a 30-year-old tenant who keeps the property very clean and in most ways is an ideal...

£13000 in debt and not the only landlord?

Author: Readers Question

21st December 2023, 3 years ago | 13

I gave my home to a rental agent who has disappeared and left me £13k in debt and hasn’t paid...

Rent payments after section 21 notice being held back by Agent?

Author: Readers Question

20th December 2023, 3 years ago | 9

Hello Everyone, I hope you can answer this please as I am not sure the agent is right in saying...

Our complaint against a housing officer?

Author: Readers Question

20th December 2023, 3 years ago | 8

We have recently made a complaint against our local council whose housing officer made false claims about us and the...

What is the official definition of a second home?

Author: Readers Question

20th December 2023, 3 years ago | 16

Hi all, I’m after some advice, please. I have a property fully paid up and currently carrying out refurbishment works...

What type of tenancy for an Annex for a couple working for me?

Author: Readers Question

19th December 2023, 3 years ago | 7

What type of tenancy should I have for an Annex? I have a newly converted separate barn conversion in my...

Previous property management refusing to transfer my credit?

Author: Readers Question

19th December 2023, 3 years ago | 1

The property management Company of a block of flats has been taken over by a Right to Manage (RTM). The...

Pic of leasehold flat being reclad tenant selling guarantee property118

Leaseholder Certificates – qualifying or non-qualifying?

Author: Readers Question

19th December 2023, 3 years ago | 5

Hello everyone, If I buy a high-rise property and fire remedial works are required is the status of the flat...

TV – Landlord scare stories?

Author: Readers Question

19th December 2023, 3 years ago | 20

What’s with all these daytime TV programmes focussing on non-paying rogue Tenants owing Landlords £000 and £000 of pounds? The...

Woman on phone under umbrella in kitchen during water leak

Who accepts responsibility for poor building works?

Author: Readers Question

18th December 2023, 3 years ago | 10

Hello, I am the landlord of a property which is divided into two flats, I am also the owner/leaseholder of...

Freeholder not providing LPE1 Form for sale?

Author: Readers Question

18th December 2023, 3 years ago | 4

Hi Everyone, A friend of mine has a flat which has an agreed buyer and they were planning to exchange...

Self Managing – do you need qualifications?

Author: Readers Question

18th December 2023, 3 years ago | 11

What differentiates a letting agent from someone who self-manages? I am not aware of a ‘legal qualification’ that Landlords who...

For sale sign outside a house as landlords exit rental market amid tax concerns

Would you sell to a tenant under shared ownership?

Author: Readers Question

15th December 2023, 3 years ago | 16

Hello, Our tenant of nearly 2 years has asked if we’d consider selling to them under shared ownership. The AST...

Is a lawyer required for lodging possession order?

Author: Readers Question

14th December 2023, 3 years ago | 18

Hi folks, Hope you all are well. My tenant has incurred rent arrears of nearly £4000 now. He keeps saying...

joint tenancy agreement contract property118.com

How can I deal with a non payer on a joint tenancy?

Author: Readers Question

14th December 2023, 3 years ago | 7

Hello, I have 5 tenants in an HMO on a joint tenancy with one non payer who is refusing to...

Key resting on tenancy agreement paperwork relating to a rental arrangement for multiple occupants

My tenant’s grandson is moving in?

Author: Readers Question

13th December 2023, 3 years ago | 20

Hello, I have a tenant in her seventies who is in many ways a model tenant. She lives alone in...

Pic of a B&B sign as London landlords leave the temporary accommodation sector property118

Do families in temporary accommodation pay rent?

Author: Readers Question

13th December 2023, 3 years ago | 13

Hello, with so many people finding themselves homeless being housed in B&Bs, I was wondering if they are required to...

Man reviewing tenant issue at desk with documents and laptop

Change to stop rentals in flat development?

Author: Readers Question

12th December 2023, 3 years ago | 16

Hello, I have owned 3 flats in a block of flats for 20 years, which I rent out, and the...

The average buy-to-let mortgage rates for some typical two-year fixed rate deals favoured by landlords have doubled since the start of the year, it has been revealed. According to Property Master's Mortgage Tracker, the average rate for a typical £160,000 BTL mortgage fixed for two years for a Loan to Value (LTV) of 60% had more than doubled since the start of this year – from 1.69% in January to 3.43% in August. This took the monthly cost, including fees, from £262 to £494, an increase of £232. The online buy-to-let mortgage broker also found that the same mortgage fixed for five years had also increased dramatically from 1.94% in January to 3.5% in August - an increase in monthly costs, including fees, from £273 in January to £481 in August, up £208. 'Cost of buy-to-let mortgages continues to rise inexorably' Angus Stewart, Property Master's chief executive, said: "The cost of buy-to-let mortgages continues to rise inexorably. "Obviously, much of this reflects the Bank of England's decision to hike interest rates for the sixth time earlier this month but there are other factors at play too. "We are seeing reduced competition in the buy-to-let mortgage market caused by a combination of factors with some lenders using higher rates to manage customer demand, whilst others are taking the opportunity to widen their margins." He added: "We have said for some years that increased regulation and higher costs were leading to the professionalisation of the private rented sector. "In reality, this will mean fewer but larger landlords. 'Unaffordable rises in mortgage costs' "For many of the smaller players in this market, unaffordable rises in mortgage costs will undoubtedly lead them to conclude buy-to-let no longer works for them. "Indeed, the latest figures from HMRC show a dramatic increase in takings from Capital Gains Tax suggesting many landlords are deciding this is the moment to sell-up." The Property Master Buy-to-let Mortgage Tracker follows 30 lenders who constitute around 75% of total BTL mortgage lending.

The same BTL mortgage deal that is worse for existing customers?

Author: Readers Question

11th December 2023, 3 years ago | 4

Hi, The mortgage lenders have got creative with BTL deals of late. Higher fees for lower rates, but this bit...