Helen Morley

Registered with Property118.com
Sunday 31st January 2016


Latest Comments

Total Number of Property118 Comments: 22

Helen Morley

13:38 PM, 16th October 2020
About 5 days ago

British Ex-Pat Bank Accounts to be CLOSED

PS ‘affect’ should have read ‘effect’ ( re DDMs etc).... Read More

Helen Morley

13:36 PM, 16th October 2020
About 5 days ago

British Ex-Pat Bank Accounts to be CLOSED

Read about this a couple of weeks ago. As an ex-expat, I can see massive issues with this, not limited to what Mark has outlined. There are issues such as the payment of service charges, insurances, mortgage payments, water rates, possibly payment of letting & management fees, payments for repairs and maintenance, licensing fees, council tax during periods of vacancies. As well as the question of rent being paid into offshore accounts, if there is any payment being made from a local council, then that too will be affected.
I assume it is probable that each standing order/direct debit currently operating in the onshore account will need to be individually closed, and individually set up as soon as it possibly can be as appropriate with an offshore bank. I don’t know whether EU based banks will affect DDM type arrangements for funds going to ‘foreign’ account, but assume this will vary from bank to bank and possibly even from country to country within the EU. The relevant forms will need to be executed by the payee pdq if there is to be no gap in payment/receipt.
Apart from let properties, if the expat happens to fund or part fund a rental for a relative, then of course the same will apply. As indeed it will if they happen to retain a home in the U.K. for holiday use, or future retirement/return.
Amongst many other things, this ain’t going to be pretty...... Read More

Helen Morley

14:17 PM, 24th September 2020
About 4 weeks ago

Winter Economy Plan leaves landlords out in the cold

To clarify, the govt will pay 1/3 of the balance of the employee’s pay (subject to the cap), and the co. will pay 1/3 of that balance. So if the employer is in a position to offer to the employee 1/3 of their normal hours, then the employer will pay roughly 55% of salary for 33.3% of the hours and the govt will pay roughly 22% of the employee’s total salary. The employee will receive around 77% of their normal pay for a third of the job.
Have seen nothing yet re the effect on employers NI and pension contributions or maintenance of holiday pay/maternity/paternity rights etc. Not particularly appealing to many employers.
Cue (1) redundancies at a vile level and at a rate we’ve never seen before and (2) large scale personal and corporate bankruptcies. None of which is exactly helpful to your average landlord......... Read More

Helen Morley

13:34 PM, 13th March 2020
About 7 months ago

Mortgage lender insisting on 6 month AST for product renewal?

I wonder what will happen to all such contracts when S21 is abolished. Whilst the name AST may be retained, lender's security will presumably be compromised. Wonder if the government will legislate to provide a limit that lenders can charge to alter contracts to reflect that change.... Read More

Helen Morley

14:02 PM, 9th March 2020
About 7 months ago

EWS1 reports - yet another concern for HMO owners?

https://www.devonshires.com/publications/ews1-external-wal

Please see comments re proposals to extend the requirements to ALL multi- residential buildings. It's close to the beginning of the government document that's linked to the above, in the Jan 2020 update.... Read More