Paul Haines

Registered with Property118.com
Sunday 24th May 2015


Latest Comments

Total Number of Property118 Comments: 9

Paul Haines

19:37 PM, 1st May 2021, About 6 months ago

What does 118 mean?

Now it’s the detective in me....and I love a mystery. Could 118 be a reference to 18th January date? This is a date pretty close to Marks birthday and possibly the formation date of Property118. Another completely off the wall explanation could be 118 beats in dance music??? How many knew he used to be a pretty good breakdancer?... Read More

Paul Haines

11:48 AM, 1st December 2018, About 3 years ago

How is this in any way appropriate?

Oh no - I've been rumbled - I am one of those lazy landlords. I was at one of my houses yesterday fitting a new dishwasher for the tenant, and just had a flashback - the sofa did sag a little in the middle!

I admit I didn't pay too much attention at the time as they were drying washing on a maiden so my view was obscured. As they had mentioned condensation issues, I was more concerned as to why they didn't make us of the tumble drier or the outdoor washing line provided.

I think I tick all the other boxes - utilities, wifi included and a TV licence thrown in (no mention of that in their advert).

Back to the sofa, with a little sag in it...in my defence I may have been pre-occupied replacing all the mattresses in the last tenant change over, re-decorating, arranging fitting of a new front door and thumblocks to rear doors...(note to self - must read up on why insurance companies insist on dead locks, police advise not to have locks that can be easily opened by breaking a window and putting your hand through and why agent tells me I must have doors that can be easily opened. My explanation to tenant that it is better to be robbed/met by an intruder in your home than be burned to death didnt really cut the mustard!).

It was the time before that this house had been used as a cannabis farm, so can't use that nightmare as an excuse for neglecting the sofa....(police can't do anything unless they 'actually catch the person in the act of tending to the cannabis plants with a watering can in in their hand'. Stupidly I didnt realise that of course a tenant could pop to the shop to buy a pint of milk and 'hey presto' when they come back some unkown third party has broken in (thumblocks!), rewired the main fuse and started a cannabis farm...or alternatively all the equipment could be there for somebody with a penchant for tomatoes. I thanked the police for pointing out the many parallel universe possibilities for a cannabis farm appearing in my property other that the obvious conclusion we would all be far too quick to jump to.

I sometimes wake up in a cold sweat thinking the gas safety checks may be overdue, but I need to add a saggy sofa to my stress list....maybe I am a penny pinching landlord still traumatised by the disappearance of wear and tear allowance and trying to build up a contingency fund to pay my increasing tax bill.

Call me old fashioned, but I saved so hard to buy my first house, that I coudnt even afford a sofa - thankfully we had one that had been passed around the family for 20 odd years. It was a great sofa....when we could afford one it was passed to my niece who had just bought her first house. That sofa was probably used at some time by the whole family - its was kind of like the circle of life. Only last year that sofa (which must be 40 years old now), had run out of new foster homes. It was a little saggy and still useful but sadly it was without the fire safety labels.....

I thought that providing quality furnished accomodation with all bills included for about £12 a day for my tenant was a fair deal.....now a realise that I can't claim true quality whilst having a little sag in my sofas. Must do better!... Read More

Paul Haines

10:54 AM, 21st August 2016, About 5 years ago

Home Ownership Is Completely Overrated

Just to look at this from another angle - if I won £1 million on the lottery would I say to my children.......I have just spent the whole amount on a house for me to live in - you can all share in my good fortune when I die?... Read More

Paul Haines

12:18 PM, 20th August 2016, About 5 years ago

Home Ownership Is Completely Overrated

Hi Mark,
Thanks for poking me with a stick! This is something that has been running through my mind for the last 6 months and I am still deciding on the best strategy. But I am definitely with you on this one! May even end up in Malta myself - if I do will buy you a beer.
A few thoughts as I have read the comments - people seem to look at their home as either an emotional asset or a financial asset or mixture of both.
I am in a place at the moment where I am untangling myself emotionally from the home I live in. Being emotionally attached to a collection of bricks and slates is not rational! That being said a lot of people do it! I remember talking to my wife's parents who own there own home outright to try to get them to see benefits of getting some cash out of their property and use it for some nice holidays while they still had good health.
This was too far out their comfort zone so they carried on asset rich, cash poor. Years later, they are in a house that is too big for them, they cannot physically maintain it, find it painful financially to maintain it and is totally unsuitable for their current needs. Mobility issues mean a stair lift fitted, conversion on downstairs space for bathroom/toilet using up a lot of the little free cash they had.
I can see why they are where they are: family home, raised children there, happy memories, comfortable/settled etc but it was a wake up call for me never to be in that position myself, as I saw their house asset quickly turn into a burden for them.
So back to my exit plan from my own home. We asked ourselves the question....if we moved out what exactly would we want/need to take with us? How much of our acquired belongings are actually in a sorted state to move? I swear we have boxes in the loft unopened from when we last moved home 16 years ago! How do we acquire so much stuff? Like that pasta kit that I have had for 20 years used twice, and refused to let go because one day I will have the time to make my own pasta - it even has a little drying rack so you can hang up your spaghetti to dry! Oh please, It's crazy I know but a lot of people accumulate stuff along the way, so one of the projects is to sort and declutter and be ruthless about it.
I am also researching places to go and live for weather/quality of life (including some tax benefits) in retirement. Malta is on my radar Mark, as well as Portugal - if you did the research on this and blogged anywhere point me in the right direction please.
So I currently live in my own 'home' I don't own it, it is mortgaged and I have made interest only payments. I have no intention of 'paying the mortgage off' as I don't see the sense in storing cash in bricks unless there is a financially viable reason. In fact as part of the emotional detachment exercise my 'home' Is just a vehicle for property investment. I have borrowed against it, remortgaged it and used the cash to invest in buy to let and a holiday home in Morocco.
I see renting my 'home' in future as a natural progression for me. Even if I want to paint a Lion King mural nothing is stopping me as long as I paint it back to beige before I move on ......probably be too busy making my own spaghetti rather than painting, assuming that little pasta mangle survives the declutter!... Read More

Paul Haines

10:12 AM, 30th April 2016, About 6 years ago

COURT OF APPEAL UPDATE - West Brom Tracker

It's quite ironic that such deals were offered in good faith and now the banks complain about their margins being squeezed on tracker products but the reason BOE rates are so low is down to the banks behaviour which caused a global recession. Businesses failed, people lost jobs, food banks boomed. The banks are still here and moaning about their margins.....Do me a favour, I would like to squeeze more than a bankers margins. On a selfish note, I have 4 lifetime buy to let tracker mortgages on base rate + 0.5%, so I really do hope you win your case. My concern is that if you lose, it will be seen as a green light to all other financial institutions to basically default and increase their tracker rate mortgages.....I would imagine that the judges will consider this scenario very seriously. So in a way all Landlords with tracker mortgages are on your side and weighing on the judges minds in their decision.....do they want the floodgates to open? Good Luck and congratulations on your fight so far.... Read More