Nick Pope

Registered with Property118.com
Sunday 18th August 2013


Latest Comments

Total Number of Property118 Comments: 143

Nick Pope

2 days ago
Storage heater replacement - No gas?

It doesn't matter what type or design of passive storage heater you use, they (and electric panel radiators) are 100% efficient, i.e. all the energy is converted to heat. The only difference is how they are controlled and how the heat is released. Some use fans which themselves use electricity. There are on the market which use less electricity overall but are very expensive initially. Frankly as a landlord I would seriously consider the gain to me for fitting the higher priced models - they make savings for the tenant but at my cost. I am not convinced that they would recoup the extra either when the property is sold or through getting a higher rent.... Read More

Nick Pope

3 weeks ago
Sky dish without permission - Can I remove it?

Reply to the comment left by Badger at 02/06/2018 - 11:44True, but I have seen them fixed to large concrete paving slabs which tend to stay put but, at the same time are not actually fixed to the structure.... Read More

Nick Pope

3 weeks ago
Sky dish without permission - Can I remove it?

The basic fact is that the dish was provided by Sky, they fitted it without permission (in my experience they never even ask the occupier if the property is tenanted) and consequently, it's their problem. I appreciate that you may wish ro keep the tenant but as others have said, if there is a communal Sky dish they should be making efforts to get the flat connected.
It's interesting that it's not actually fixed to the walls but to the balcony. I wonder if it could simply be made free-standing rather than fixed, in which case the management co. would have difficulty in enforcing. The lease would normally prevent "fixing" to the walls or main structure. Unfix and Bob's your uncle.... Read More

Nick Pope

A month ago
Paragon HMO application?

I'm not familiar with the specific London market but I am assuming that there is, effectively, no difference in value between use as a private residence and an HMO. In that scenario I would go with the suggestion above and apply for the mortgage based on a single family letting. However you should read the lender's Ts & Cs very carefully as it's possible that change of use from single residential to HMO (even if planning permnission is not required) may require their permission and if they suspect that this was always your intention then they might not grant it.
If there is a difference in values between the 2 uses and you need to apply subject to planning, upgrading and the grant of a licence then, as a surveyor surveyor I would advise a significant retention to be held back (perhaps 25% of the advance) to ensure that the works are done and the licence granted.... Read More

Nick Pope

3 months ago
Ground rent school boy error?

The matter of mortgageability has been raised but the actual situation is significantly worse than alluded to.
I have recently done a valuation on a flat in Reading with aground rent which doubles avery 10 years. I had to return a zero value as it was not acceptable to a very prominent Buy to Let lender.
Many banks/building societies simply will not lend and others are moving in the same direction because of perceived problems if they ever have to re-possess and sell.
Some lenders will provide funds on a cash only basis but in my experience this will reduce the value signifcantly, perhaps by as much as 25%..
My suggestion is to try to negotiate with the freeholders to limit the increases to RPI or a similar benchmark which lenders are currently happy with.... Read More