Page 175 – Property118

Tories warn of tax bombshells after Starmer’s doom-laden Budget speech

28th August 2024

After a speech by Sir Kier Starmer warning that the autumn budget will be ‘painful’, top Tories say that ‘nothing will be safe’. Mr Starmer was laying the groundwork for a tax raid and said people must accept ‘short-term pain’ for ‘long-term good’. He also warned that those with the broadest shoulders ‘should bear the […]

Scotland’s PRS faces a rent control crisis as supply declines

28th August 2024

Scotland’s private rented sector (PRS) is facing a perfect storm of rising rents and concerns about dwindling supply as the Scottish government pushes for rent controls, one firm says. CityLets warns that as the Scottish Government continues to push forward with legislation to control rents in PRS hotspots, there’s overwhelming evidence of their detrimental impact […]

Fleet and CHL enhance buy to let products

28th August 2024

Fleet Mortgages has announced significant changes to its product range for houses of multiple occupation (HMOs). Meanwhile, CHL Mortgages has refreshed its limited edition buy to let range, introducing new fee options. Fixed-rate HMO mortgage Fleet is launching a new two-year, fixed-rate HMO mortgage for landlord borrowers. The mortgage offers a competitive rate of 6.49% […]

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Zoopla warns of overpricing impact on house sales

28th August 2024

The UK’s housing market is showing signs of recovery as house prices rise slowly following a period of volatility, Zoopla reports. However, the platform also warns that a record-high supply of homes for sale is emphasising the importance of realistic pricing strategies for sellers. According to its latest house price index, average UK house prices […]

New PRS housing enforcement policy sets countywide standards

28th August 2024

A new housing enforcement policy has been adopted by North Yorkshire Council to ensure that all private rented sector (PRS) housing in the county meets high standards. This unified approach replaces the previous seven separate policies used by the district and borough councils. The new policy strengthens the council’s ability to proactively tackle substandard housing. […]

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Dramatic rise in London landlords selling up

28th August 2024

The number of properties for sale in London that were previously rented has surged, according to research from TwentyCi. The analytics firm found that in July, 22% of all the 8,006 newly listed homes for sale in Inner London had been available to rent at some point in the last decade – a 10-year high. […]

Subletting fees? – ROBINSON AND GREEN VS SIMARC

28th August 2024

I’m just reposting this in the hope someone can advise further. In the case ‘ROBINSON AND GREEN VS SIMARC’, the tribunal ruled that sublet fees are registration fees not admin fees and could not comment on their reasonableness. The full First-Tier Tribunal ruling can be seen here >> https://assets.publishing.service.gov.uk/media/619ea554e90e070446653c0e/21_Calder_Halifax.Adminfee.pdf >> https://assets.publishing.service.gov.uk/media/619ea554e90e070446653c0e/21_Calder_Halifax.Adminfee.pdf Please also see >> […]

Council to extend its HMO licensing scheme

27th August 2024

A council looks set to extend its additional licensing scheme for five more years until 2030. The scheme, which grants the council additional powers to regulate HMOs, follows a consultation earlier this year that found both tenants – and apparently – landlords support the tougher measures. Coventry City Council says its scheme, which was brought […]

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Lack of Welsh housing data sparks NRLA campaign for annual housing survey

27th August 2024

The NRLA is calling for a regular Welsh housing survey to help future housing policy decisions. The NRLA says there should be a Welsh housing survey similar to the English Housing Survey that has been run annually in England since 1967. The last Welsh Housing Conditions survey was carried out in 2017/18. Welsh private rented […]

Matt Hutchinson discussing the government’s second homes policy and housing shortage

Renters struggle with renting budgets as costs soar

27th August 2024

Renters are having to find an extra £312 per year to cover the cost of rent that exceeds their budget, according to a new survey. Research by SpareRoom shows a big gap between what renters plan to spend on rent each month and what they actually end up paying. Across 216 towns and cities in […]

Rental market race: Gloucester leads, Middlesbrough lags

27th August 2024

With rental demand soaring, competition for properties is fierce and data from OnTheMarket highlights the extreme disparities in how quickly rental homes are being snapped up. The platform’s new ‘Transaction Speed Index’ has Gloucester as the fastest market, with properties being let in just 14 days. However, Middlesbrough is the slowest market, with tenants taking […]

E-Bikes in Rental Properties: Key Considerations for Landlords

27th August 2024

As e-bikes and scooters become an increasingly popular mode of transportation, both for personal use and for tenants who work as local food delivery riders, landlords must navigate the unique challenges these electric-powered vehicles present in rental properties. While e-bikes offer tenants a convenient and eco-friendly way to commute, their presence introduces potential risks that […]

How to Transform Assets into Recurring Cashflow

27th August 2024

Are you ready to unlock the full potential of your assets and create a predictable stream of recurring income? If so, WealthBuilders want to share something exciting. On Wednesday 28th August, WealthBuilders will be hosting a live webinar showcasing a simple, proven process anybody can follow to build reliable income from assets. WealthBuilders has been […]

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Council tenant pleads guilty to subletting home on Airbnb

27th August 2024

A council flat tenant has admitted to unlawfully subletting his home by advertising the property for rent on Airbnb. Reza Sherafaty, 39, pleaded guilty to three counts of tenancy fraud at Birmingham Magistrates Court on August 15. The court heard that Birmingham City Council discovered Sherafaty had rented out the council home in Selly Oak […]

Grade II Listed Building – How to turn a profit?

27th August 2024

My mother is breaking up with her husband and will have the property to herself by around April 2025. This is obviously not 100% definite just yet, but her divorce solicitor is almost certain that this will be the outcome in return for her paying her ex-husband an amount and not taking any benefit from […]

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Tenants not allowing access for leak repairs?

27th August 2024

Hi Everyone, There has been a leak from my property into the flat below for a week now. The Managing Agent has arranged for contractors to go out, but the tenant keeps making appointments and then saying they are not available. Also, the estate agent has managed to mislay/lose the key and fob and I […]

Property118 Incorporation Client Speaks Out

23rd August 2024

When the letter from HMRC landed on my doormat, I barely gave it a second thought. It seemed like just another piece of bureaucratic correspondence. But as I unfolded the paper and scanned the contents, the words “compliance check” hit me like a punch to the gut. My casual indifference evaporated, replaced by a chilling […]

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Why councils can’t run private rented homes – after another failed landlord fiasco

23rd August 2024

Every private landlord in the country must know that their local council is hopeless and doesn’t understand the private rented sector – but did you know that they couldn’t run a bath? I’m talking, of course, about the not-so-shocking news that another private landlord organisation created by a council has hit the buffers. So, well […]

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Holiday let landlords face tax crunch

23rd August 2024

The clock is ticking for furnished holiday let landlords as government plans to abolish the favourable tax regime from April 2025 are forcing owners to reconsider their future. On 29 July, the government unveiled draft legislation ending the Furnished Holiday Letting (FHL) tax benefits. From 6 April 2025, landlords will lose key tax advantages. Interest […]

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Rent controls in Scotland: ‘Unworkable and unaffordable’

23rd August 2024

The Housing Scotland Bill must be scrapped or significantly amended, a leading property firm warns. DJ Alexander, Scotland’s largest lettings and estate agency, says that the proposed rent controls will do more harm than good. A recent report by the Institute for Economic Affairs (IEA) found that rent controls have consistently failed to achieve their […]

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Landbay unveils new AVM-powered BTL products

23rd August 2024

Buy to let lender Landbay has introduced a fresh line-up of two-and five-year products, available through its automated valuation model (AVM). It joins Together and Molo as the latest BTL lenders to lower rates for landlords. This new AVM range offers rates starting at 3.74% for two-year standard options at up to 75% loan-to-value (LTV). […]