Alistair Cooper

Registered with Property118.com
Sunday 24th November 2013


Latest Comments

Total Number of Property118 Comments: 33

Alistair Cooper

11:58 AM, 29th April 2020
About 4 weeks ago

Labour want 'Triple Lock' for tenants

Not looking to defend the Labour task force as generally they of course do not have our interests at heart; however the revaluing of LHA rates is already welcome, in many areas even in wealthy areas such as St Albans the new LHA rates (£1000p/2bed) is now higher than many Private Sector asking rents so this is welcome news. If they want to continue the carrot and stick approach they now just need to bring in faster processing of claims and a return to the good old days of direct payment to landlords!... Read More

Alistair Cooper

11:25 AM, 23rd April 2020
About a month ago

I am helping a Telegraph journalist

I think a big issue of concern to landlords is not necessarily being refused an interest roll up per se but the effect on their credit ratings and/or ability to borrow again in the future as the position on this is still unclear.
Many lenders have given assurance that they will not report missed repayments as arrears which is welcome; however some have said that they will report these missed payments as ‘U’ or unclassified/unreported.
If lending is sought in the future any underwriter is bound to spot this and ask for further information including a mortgage statement. This would then reveal the arrangement and may indeed influence that future underwriters decision to lend.
Many PRS landlords rely upon the ability to remortgage to keep costs down and access funds to further build their portfolios and are rightly paranoid about any derogatory influence however minor upon their credit files/ratings.
I doubt many have an issue with being asked for proof that indeed their tenants are in difficulty; it is a reasonable question for the lender to pose; if indeed the landlord is still in receipt of the majority of his rent why would he/she need to roll up interest?... Read More

Alistair Cooper

17:38 PM, 6th April 2020
About 2 months ago

HMO statutory room size discretion?

Two or more room units refers to where 2 or more rooms within a house are let to one tenant (or a cohabitating couple), not where there are just 2 or more rooms in the property let. A ‘unit of accommodation’ is a single room where that is the part of the property that the tenant has exclusive use of.
In any event the minimum acceptable bed room size won’t be under 6.5m2... Read More

Alistair Cooper

17:31 PM, 6th April 2020
About 2 months ago

HMO statutory room size discretion?

The 6.51m2 is already discretionary. The national minimum is 8m2 for a single occupancy room but this can be reduced to 6.51m2 at the discretion of the Licensing Officer if there is sufficient communal amenity.
If it is a HMO License you are applying for they will most likely issue a ‘temporary prohibition order’ on this room requiring you to either increase its floor area to 6.51m2 or cease letting it within 18 months.
Furthermore any mortgage valuer noticing a room under 6.51m2 will most likely not take into account the rent received from that room when calculating gross rent.
We have had to demolish and move walls in many houses, even when rooms were 6.48m2!
Sorry to be the bearer of bad news but the only solution is to either enlarge or not rent that room... Read More

Alistair Cooper

9:29 AM, 3rd April 2020
About 2 months ago

Government have created chaos in the PRS

Thx Mandy
A link or some info on the case law that may help a landlord to have equity in residential property disregarded in benefit applications would be appreciated
My godson has just 2 properties, now receiving nil income and has lost virtually all his SE income as well; but his app for UC was declined because the equity in the properties was over £32k.... Read More