Mike W

Registered with Property118.com
Tuesday 10th September 2013

Latest Comments

Total Number of Property118 Comments: 199

Mike W

21:21 PM, 26th March 2019
About 3 months ago

MP Iain Duncan Smith criticises George Osborne’s Housing Policies

At last some realisation that taxing people who want to move, up sizing or downsizing or relocating, is not a sensible idea. It removes fluidity from market and the market will cease to function. And similarly taxing those individuals who wish to help to provide homes (in the same way as other housing bodies) is not sensible. It has the same effect.... Read More

Mike W

12:15 PM, 25th March 2019
About 3 months ago

64% of portfolio landlords now intend purchasing in a Ltd co.

Excellent news BUT I have found the market very restrictive. Only two lenders prepared to consider and rates roughly 3% higher than I can get on a personal basis. And these are loans less than 50% LTV but of course Scotland and HMO and students. But they fly like kites. (And that is based on discussions with multiple brokers.) For this option to take off this has to change rapidly. It has severely restricted the rate of transfer of assets to our company.... Read More

Mike W

14:02 PM, 18th March 2019
About 3 months ago

Does bathroom with window need extraction fans?

I sometimes wonder whether we live in UK or USSR. Whilst modern building regulations may set a requirement for a bathroom fan even if there is a window, I am surprised that some people say they can't afford to buy a house or flat. I wonder what increases the new build cost .... unnecessary equipment?
As to the council applying new build regulation to old houses, they don't do it to owner occupiers do they? Do they apply the same regulation to ALL of their own council property?
Level playing field.

Oh and by the way Scotland is thinking of introducing regulation that requires owner occupiers to have minimum EPC levels in order to sell property ...

And one other gem. Building regulations (Scotland) have now made houses virtually airtight. And of course people are not used to this so they go to bed and don't ventilate. So now building regulations require a carbon dioxide alarm in bedrooms, so people don't die from carbon dioxide poisoning. Seriously! Section 3.14.2 of 2017 regs.

So we will all be living in state owned high rise boxes soon.

From a practical point of view, if you assume tenants don't know about these sorts of aspects of how to live a healthy life, or don't care about damaging your property with condensation or mould, then you put in a fan like the Rolls Royce RB211. That should sort it.... Read More

Mike W

11:41 AM, 6th March 2019
About 4 months ago

DPS and TPO giving contradicting advice and reviews?

I think you should seriously consider the small claims process - if you have the time to do it yourself. If you believe you have a viable claim then go ahead. It really is not complex. I do not have much faith in Ombudsmen and interestingly for the first time last month made a claim against ombudsman services for incompetent handling of a case in which they initially tried to 'brush me off'. Within a day of the CEO receiving my letter I had a call and £125 offer of compensation for failures on their part which I accepted provided they made good on a previous adjudication.

I am not aware of the details around the property ombudsman but in the case of telecoms and utilities and finance the ombudsman decisions are only binding on the big organisation not 'the man on the street'.

If you have the time and patience - never give up.... Read More

Mike W

11:30 AM, 6th March 2019
About 4 months ago

Accountant, Freeholder and Managing Agent all at same address?

Not a lawyer and have little specific experience of dealing with difficult FHs. However this appears to be contrary to Leasehold Advisory advice and is clearly open to challenge on the grounds you have indicated. Indeed a more suspicious person might be thinking along the lines of potential fraud .... But of course I do not have all the facts of the case .... Frankly even if they were to pursue you in court I think the evidence would indicate they would have an adverse outcome.... Read More