Neil Patterson

Registered with
Monday 7th February 2011

Member of The Landlords Union

Insures properties through a broker recommended by Property118

Latest Comments

Total Number of Property118 Comments: 3030

Neil Patterson

16:17 PM, 23rd January 2020
About 21 hours ago

Serving Section 21 during fixed term - right or wrong?

Hi Nikki,

A break clause needs to comply with consumer protection law and be fair.

It would normally need to stipulate after the first 6 months and allow both the landlord and tenant to instigate the notice or it might be deemed an unfair contract.... Read More

Neil Patterson

11:53 AM, 23rd January 2020
About A day ago

English Housing Survey 2018-19 released

Director of lettings and sale agent, Marc von Grundherr, commented:
“Despite all that we hear of the plight of the first time buyer, it seems that statistically speaking they’ve rarely had it so good.
Homeownership amongst youngsters is on the up and no doubt heavily influenced by Help to Buy, record-low mortgage rates and the Bank of Mum and Dad.
Either that or perhaps millennials have heeded the advice of consumer experts and some estate agents and have indeed cut back on avocados and trips to Ibiza, saving their earnings for a home purchase instead.
The even better news is that foot soldiers of Extinction Rebellion can now unglue themselves from various items of London transport, because housing, one of the biggest climate change protagonists, is officially significantly less harmful to the planet than a decade ago. This means that we don’t need to switch our central heating off just yet in order to placate Greta & Co.”... Read More

Neil Patterson

11:51 AM, 23rd January 2020
About A day ago

English Housing Survey 2018-19 released

Andy Sommerville, Director at Search Acumen, commented:

“The housing ladder needs some more rungs. It’s all very well saying that anyone can buy but when the percentage of homeowners has stood still since 2013 it seems clear navigating the housing ladder is too precarious for most people to do so safely.

“Everyone is affected by the lack of suitable housing. From those who bought before starting families who now find themselves trapped in homes too small for their needs, to the social housing sector where overcrowding remains at its highest ever level.

“We need more housing and we need to make moving less burdensome – financially and emotionally. To do that we have to embrace the digitisation of integral conveyancing processes and that requires more open data. Bricks and mortar are a far cry from big data and algorithms but if we are serious about solving the housing crisis, we need to see greater commitment from both public and private sectors to unite them.”... Read More

Neil Patterson

10:46 AM, 21st January 2020
About 3 days ago

Is agent being "smart" with reservation fee?

Hi Mike,

Please see my editors notes above as I am hoping it is highly likely the deposits are being returned.... Read More

Neil Patterson

10:25 AM, 20th January 2020
About 4 days ago

Rental Income - Sole Owner's main residence?

Dear Vishal,

Please see our main tax planning page >>

Unfortunately Section 24 mortgage interest relief restrictions are not a debatable or of-settable point you can argue with HMRC.

Also you say it is still a residential mortgage so can I assume you have told the lender and got consent to let?

You can use a Declaration of Trust to move the beneficial ownership, but yes if there is a mortgage depending on the figures Stamp duty could be triggered. Please see >> Read More