Laura Delow

Registered with Property118.com
Wednesday 16th April 2014


Latest Comments

Total Number of Property118 Comments: 274

Laura Delow

9:02 AM, 14th January 2020
About A week ago

Pension pot property?

I don't know what type of pension you have e.g. defined benefit or defined contribution nor do I know your personal or tax circumstances today & what these are anticipated to be in 5 years when aged 60, but suffice to say there is no black & white answer as to whether it's a wise decision to take £50,000 out of your pension to buy a place in Spain for your personal use & let out inbetween times, as you're comparing apples with pears in terms of investment comparison. I'm also not sure whether you mean you're taking the tax free cash from your pension or the whole pension pot. Nor do we know what your tax bracket is & what income you'll need in 5 years time or whether there'll be any debt or borrowing you might be better off redeeming first e.g. credit card balances, loans or mortgages. Another factor to put in the melting pot is you do need to declare any rental income you receive on property in Spain to the Spanish tax authorities & if let via an agent, they deduct tax at source but if no agent don't think you can go under the radar as the tax authorities are always searching websites for private rentals to find those who are not declaring rental income. In my opinion if buying abroad, unless skilled & knowledgeable in this field, you should treat this as your 2nd home which may or may not make you money & not treat it as an investment as there are too many factors out of your control; purchase costs are pretty high in Spain, tax on rental income, costs to let/manage, damages, check-in/out of holiday makers, laundry & cleaning service, service charge costs, utility bills can run high as there's little competition in Spain so costs are high & holiday renters have a habit of running up high bills, but council tax bills are low. As a non resident you'll also need to pay a property tax once a year based on the rateable value. If a new build be doubly sure it has a habitation licence, the cost of agent fees if to be used. The only similarity between Spain & the UK when buying property is location effects values but other than that over the longer term capital growth in Spain is not like it is in the UK i.e. tends to be flat as few Spanish move home & if on one of the Costa's for example then growth can be effected by holiday maker demand due to competition & the exchange rate & number of new builds going up nearby that dampen the value of 2nd hand stock. If bringing the rental income back to the UK to live on, at present your euros will get you more pounds than when the exchange rate was 1.3 euros to the pound just before the Referendum. If sending money out to Spain to cover running & fixed costs, you're currently getting a bad exchange rate. The list goes on.
Your pension on the other hand if a money purchase scheme may be getting some good growth tax free. Ontop of this are many other factors you should consider before raping a pension pot which your financial adviser should be able to advise you on.... Read More

Laura Delow

9:38 AM, 2nd January 2020
About 3 weeks ago

I'm on the brink?

I agree with the others in that you should seek professional advice from the likes of Landlord Action if you don't have legal/eviction cover & meanwhile try to negotiate a repayment plan with them. Me personally; I would write a letter reiterating what's owed & the consequences of not paying (fact not threat) i.e. they could end up with a County Court Judgement which will impact their credit worthiness for overdrafts, loans & future tenancies, on top of which they will likely have to pay your legal costs & court fees which if again unpaid would just add to the size of the potential CCJ.... Read More

Laura Delow

11:35 AM, 21st December 2019
About a month ago

Our right of way blocked by a conservatory built by neighbour?

Do you have legal insurance on your home buildings & contents policy? If so, do call them to discuss the case & if they think there is a 50% or greater chance of winning, they will take on the case & appoint a barrister for if/when it gets to court if not settled earlier & cover litigation costs up to £50,000 or £100,000 (policy sums assured vary).... Read More

Laura Delow

12:37 PM, 17th December 2019
About a month ago

ICO demand - is it a scam?

Definition of a Controller is; do you meet one or more of the following 1-12 definitions? Even if an agent does the processing for you, it is for the landlord's benefit on which a decision is made whether to rent to the applicant (data subject) and therefore a landlord meets at least 1-3 of the definitions i.e. 2nd, 8th & 12th definition for which a landlord needs to register with the ICO as a Controller:-
1) We decided to collect or process the personal data.
2) We decided what the purpose or outcome of the processing was to be.
3) We decided what personal data should be collected.
4) We decided which individuals to collect personal data about.
5) We obtain a commercial gain or other benefit from the processing, except for any payment for services from another controller.
6) We are processing the personal data as a result of a contract between us and the data subject.
7) The data subjects are our employees.
8) We make decisions about the individuals concerned as part of or as a result of the processing.
9) We exercise professional judgement in the processing of the personal data.
10) We have a direct relationship with the data subjects.
11) We have complete autonomy as to how the personal data is processed.
12) We have appointed the processors to process the personal data on our behalf.... Read More

Laura Delow

12:02 PM, 11th December 2019
About a month ago

ICO demand - is it a scam?

Even if it is a scam, I believe you do need to register with the ICO even if you do not process / hold the personal information as you are the Controller who determines the purposes for which the data is processed and/or the means of processing & you have appointed processors to process the personal data on our behalf.
Copy/paste the following address in to your browser for more detail:-
https://ico.org.uk/for-organisations/guide-to-data-protection/guide-to-the-general-data-protection-regulation-gdpr/key-definitions/controllers-and-processors/... Read More