FOX30

Registered with Property118.com
Thursday 5th April 2018

Trading Status
Joint

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 8

FOX30

12:39 PM, 8th February 2019
About 5 months ago

Ban on Lettings Fees to commence June 1st

HI MARK, hope your well, I have been thinking about this situation for a while now as we draw closer to the 01/06/19. The RLA tell me that under my terms in my AST's we have a clause where the tenants have to agree to pay for a pro clean and a checkout inventory post tenancy, we pay for the check in usually and this is deducted from their security deposit and the rest refunded to them unless there is more damage which is not deemed W & T. However the RLA have told me that I will not be able to do this post 01/06/19 as these are deemed as fees. This has created a dilemma for me and now I have to reconsider what I need to do. Firstly will all my AST's which have been signed before the 01/06/19 and some date back to 2017 become voided due to the new legislation with regard to these two fees and if so, can I apply the same idea you have suggested above to NO DEPOSIT TAKEN, and run them through the insurance company and pass on the risk to the insurer, does the insurance company block protect on an annual policy for all our properties and if they do including Rent Guarantee and insurance and if so how easy is it to make a claim if the tenants leave the property with repairs to be made even slight repairs which fall out of W&T, I usually deduct for any damage from the security deposits, is there a policy excess etc and how would a pro clean fit into the equation to the insurer, as 9 times out of 10 the tenants never leave the property in the cleaning condition it was first presented in ?
What do you think ?... Read More

FOX30

10:06 AM, 6th February 2019
About 5 months ago

Letting to pet owners in light of the tenant fees ban and new 5 week deposit protection rules

HI MARK, hope your well, I have been thinking about this situation for a while now as we draw closer to the 01/06/19. The RLA tell me that under my terms in my AST's we have a clause where the tenants have to agree to pay for a pro clean and a checkout inventory post tenancy, we pay for the check in usually and this is deducted from their security deposit and the rest refunded to them unless there is more damage which is not deemed W & T. However the RLA have told me that I will not be able to do this post 01/06/19 as these are deemed as fees. This has created a dilemma for me and now I have to reconsider what I need to do. Firstly will all my AST's which have been signed before the 01/06/19 and some date back to 2017 become voided due to the new legislation with regard to these two fees and if so, can I apply the same idea you have suggested above to NO DEPOSIT TAKEN, and run them through the insurance company and pass on the risk to the insurer, does the insurance company block protect on an annual policy for all our properties and if they do including Rent Guarantee and insurance and if so how easy is it to make a claim if the tenants leave the property with repairs to be made even slight repairs which fall out of W&T, I usually deduct for any damage from the security deposits, is there a policy excess etc and how would a pro clean fit into the equation to the insurer, as 9 times out of 10 the tenants never leave the property in the cleaning condition it was first presented in ?
What do you think ?... Read More

FOX30

21:58 PM, 29th April 2018
About A year ago

New SDLT Rules Can Help Smaller Landlords

Hi Landlord 77, if you have a mortgage on the property then the following SDLT rates will apply between spouses :

Mortgage value transferred up to £125,000
0%
The next £125,000 (the portion from £125,001 to £250,000)
2%
The next £675,000 (the portion from £250,001 to £925,000)
5%

Hope this helps !... Read More

FOX30

13:01 PM, 24th April 2018
About A year ago

Consultation Testimonials

I threw hundreds of questions at mark via email and over the phone during our unplanned first discussion, he skilfully answered everything and paved the way for a clear discussion the second time around. I am the type of person that likes to know everything and Mark's ability to negotiate around my unique situation had made both of us curious. He has come up with solutions and ideas and put my mind to rest on many issues I have been having sleepless nights about. I would not hesitate to recommend him based on all my interaction with him thus far, bring on the next recommended specialist proposed by Mark for wills and IHT, trusts etc !... Read More

FOX30

12:24 PM, 7th April 2018
About A year ago

CGT and SDLT selling primary and moving back to Rental?

We moved out of our former residential property ‘ house 1’ and redeemed the residential mortgage outstanding and remortgaged into BTL, during the same process we took out equity from our original home and used that amount as a deposit for a new BTL house ‘house 2’ which we plan to move into in the future. SDLT was charged on the basis of a further 3% as we own multiple BTL, does anyone know if we paid this extra 3% SDLT, will we be able to ever get it refunded if we redeem house 2 by selling ‘house 1’ and move into it as our main residence.
We have effectively come off our residential status as we are currently living with a relative.... Read More