user_738

Registered with Property118.com
Friday 5th July 2013


Latest Comments

Total Number of Property118 Comments: 5

Simon

18:01 PM, 26th February 2014
About 7 years ago

Negative equity advice wanted

I think we would also need to know if the mortgage is on interest only or capital and repayment. If the latter then the problem is less as at least you will eventually own it.

You could consider to convert to interest only if it is a repayment so long as the lender agrees. This may would improve cashflow but obviously you would need an exit strategy. It depends on many things ie your age,earning potential over the next 10 years,potential inheritance..so many possibilities.
Simon... Read More

Simon

8:14 AM, 6th July 2013
About 7 years ago

Deposit Protection - look out landlords, the vultures are circling

Reply to the comment left by "Paul" at "06/07/2013 - 04:35":

I agree Paul. And yes they really are not protecting deposits in large numbers which is why when the law changed to 30 days the schemes saw a climb in the LL registering them for the first time. LL need to get with it I am afraid.
I found a lot using asts bought from newsagents...and then they wonder why they cant evict tenants.
I,ll check out the LL ref site.thanks simon... Read More

Simon

12:03 PM, 5th July 2013
About 7 years ago

Deposit Protection - look out landlords, the vultures are circling

There is no business for these people if the Landlord follows the rules. If landlords settle for claims out of court for something that they have not done then again it reflects on the way they run their business.

I understand with the recent case law that there could be some problem with tenancies that have gone onto a periodic but I am sure that is going to get challenged.
It could mean that Landlords would have to protect the deposit each month in a periodic if you follow the judgement precisely. That would be a nonsense.

However I revert to what I been saying. If Landlords have taken deposits and not protected at all then there is no excuse.

If I were the deposit scheme owners I would pay the Landlord to appeal at the Supreme court on the periodic issue as it will effect their business. Landlords will not want to burden themselves with administrating a deposit each month.

In terms of your PPI companies the MOJ is quite strict on companies submitting claims that do not have evidence and you should make them aware of the practice.

A more serious debate should be about the proposal to bring human rights to eviction processes,letting fees being banned(backed by Shelter) and the Universal credit changes.

These are real issues that effect Landlords who operate professional businesses.

Having spent years as a Landlord and running an eviction company I can say that too many do NOT follow the regulations.

My general advice is follow the rules even if you think they are unfair(as I do).

Lets campaign for better legislation and clearer ways to protect good Landlords and tenants.... Read More

Simon

10:44 AM, 5th July 2013
About 7 years ago

Deposit Protection - look out landlords, the vultures are circling

I think its odd that landlords are complaining about companies who manage to get money(deposits) back. Ok so there is an issue about paying a third party claims company but in reality if they have not protected the deposit they can be fined by up to 3 times by a judge,

Tenancy Deposits have been around for 6 years now so there is really no excuse not to have protected the deposit. Unless of course the game plan was to keep the deposit anyway!

If the law is broken then Landlords are open to a number of potential claims whether thats from solicitors or claims management companies.

Simple answer is to follow the rules and then there would be no claim.

My experience of dealing with Landlords for eviction purposes is that they have in many cases dealt with the paperwork incorrectly .

Its time the industry was cleaned up both from a legal eviction perspective right up to how Landlords operate their businesses.

I also think that tenants can get away with too much especially with regard to rent arrears after leaving,damage to property and anti-social behaviour that becomes a Landlord problem not a police problem.

If there was an industry standard of every Landlord seeking to talk to the previous Landlord then a lot of this could be reduced.... Read More

Simon

17:30 PM, 28th June 2013
About 7 years ago

Deposit Protection - look out landlords, the vultures are circling

Maybe someone should ask why they have not put their MOJ licence number on the video.I believe it is a legal requirement.... Read More