Page 193 – Property118
confused

Issue with letting agent?

12th June 2024

Hi, I am a landlord and have given my letting agent notice due to their numerous errors and lack of competence. The notice period is 6 months, but I requested a reduction due to their mistakes, which was denied. I asked the letting agent not to advise my tenant that I was giving my notice […]

landlords news fire break wall insurance tax property118.com

Fire alarm warning after landlord handed suspended prison sentence

12th June 2024

Landlords across the UK are being warned about the serious consequences of failing to meet fire safety regulations in their rental properties. The call comes after a recent court case in Sheffield that saw landlord Zahir Ahmed being handed a suspended prison sentence and community service for fire safety violations at a property he owned. […]

Portrait of a business leader in suit and tie

Edinburgh’s detached homes see huge price rise

12th June 2024

The price of detached homes in Edinburgh has rocketed, with the average rising by nearly £1,500 per week over the past year.  According to DJ Alexander, Scotland’s largest lettings and estate agency, the average price of a detached home in Edinburgh has jumped from £666,814 to £742,304 between April 2023 and March. This represents an […]

pic of approved btl mortgage application form property118

Is my victorian warehouse unmortgageable without a lift?

12th June 2024

Hi, I have a converted Victorian warehouse in London which is six storeys high. The top flats are duplexes entered on the fourth floor (fifth storey). I have decided to retire and sell the block. The top flats are wonderful penthouses with a large terraces. I offered one to market (at a very competitive price […]

House price falls slow but North-South divide widens

12th June 2024

House prices in England and Wales continue to decline, although the pace of decline is slowing with the average house price falling by 0.2% in May to £356,014. According to the e.surv house price index, that’s still 3.3% lower than a year ago. The slowdown comes despite the Bank of England delaying a cut in […]

Landlords will be offered CGT exemption by Conservatives

11th June 2024

The Conservative Party’s manifesto will be published today with a pledge to eliminate capital gains tax (CGT) for landlords, the Daily Telegraph reports. However, the exemption will only be for those landlords who sell their property to a sitting tenant. The initiative will run for two years with the aim of boosting the housing market […]

General Election impact on mortgage rates and house prices

11th June 2024

With the upcoming General Election, questions from landlords and homeowners loom over its potential impact on mortgage rates and property prices. Now an analysis from Zoopla and Mojo Mortgages aims to shed light on the potential answers. While the government does not directly dictate mortgage rates, these are influenced by various factors, including the Bank […]

front page of liberal democrat manifesto

Liberal Democrats unveil housing policy: Abolish Section 21 and reinstate EPC targets

11th June 2024

The Liberal Democrats have promised “to deliver a fair deal for renters” by abolishing Section 21 immediately and reintroducing EPC C targets for rented properties. The party’s manifesto proposes making three-year tenancies the norm and creating a national register of licensed landlords. For social housing, the party promises to protect social housing renters with a […]

Modern Scottish Parliament building in Edinburgh with Calton Hill in the background

Scottish government faces rent control backlash

11th June 2024

The Scottish government’s own economic agency has warned that rent controls will only make the housing crisis worse. South of Scotland Enterprise (SOSE) says the Scottish Housing Bill’s move to introduce long-term rent controls has sparked uncertainty, leading landlords to leave the market. Earlier this year, the Scottish government, along with six councils across Scotland, […]

Paragon simplifies its BTL mortgage range

11th June 2024

Paragon Bank has made it easier for brokers to find buy to let mortgage products for their landlord clients. Previously, the bank offered separate options for portfolio and non-portfolio landlords. Now, it has consolidated these offerings, streamlining the application process. ‘Simplification of our buy to let product range’ Paragon’s commercial director, Louisa Sedgwick, said: “The […]

Brighton & Hove introduces new PRS licensing schemes

11th June 2024

Brighton & Hove council has revealed that it’s introducing a new additional licensing scheme for smaller houses in multiple occupation (HMOs) starting in July. This scheme applies to HMOs with two or more floors, and three or four occupants. Landlords and managing agents can apply for licenses from July 1st. From September, a selective licensing […]

Election dilemma: the devil you know or don’t?

10th June 2024

This election, is it the devil you know better or worse than the devil you don’t? Not having made law, the Renters Reform Bill, appallingly drafted and ill thought out, can be either quietly dropped or reworked to work with and not against/to crucify landlords if the Conservatives retain power. Labour has said that Section […]

Ceiling-mounted positive input ventilation outlet releasing filtered air

Recommendations for internal bathroom ceiling ventilation fan?

10th June 2024

Hi, I have two rented out flats with internal bathrooms (no windows), both of which have bubbling ceiling paint since I installed Envirovent silent ventilation fans. There is also a damp mark on the bedroom ceiling outside one of the ensuites. Can anyone recommend a really efficient, quiet make/model of ceiling extractor (so tenants will […]

Property expert outdoors discussing rising UK rent prices

Tenants increasingly stay put while homeowners move more frequently

10th June 2024

Homeowners are moving more frequently, while tenants in the private rented sector (PRS) are staying put for longer, research reveals. According to Zero Deposit, renters are staying in their home for an average of 4.3 years, which is 12% longer than 10 years ago. However, homeowners are spending an average of 9.2 years in a […]

Rebecca Marsh comments on the expulsion of three property firms from The Property Ombudsman scheme

Tenant disputes drive record enquiries at The Property Ombudsman

10th June 2024

The Property Ombudsman (TPO) is reporting a record-breaking influx of enquiries – mainly from tenants struggling with repair and maintenance issues. The organisation’s annual report reveals that this year, tenants accounted for 62% of the 57,635 letting enquiries received. It says this is a sign of growing awareness of its role for those wanting to […]

landlord question smoke alarm property118.com

Northern Ireland’s landlords must install new alarms

10th June 2024

New regulations to improve tenant safety in private rental properties across Northern Ireland have been unveiled. The regulations set minimum standards for smoke, heat and carbon monoxide alarms. Alarms can be tamper-proof or hardwired, and smoke and heat alarms must be interconnected. Existing tenancies have until December 1st to comply, while new tenancies must adhere […]

Interest Rates – The Next 18 Months

8th June 2024

If you blinked this week, or if you just don’t follow the Central Banks of the World more closely (what are you playing at?) then you might have missed the fact that the Bank of Canada, and the European Central Bank, both cut their interest rates. The first “major” central banks to do so, in […]

Pic of freeholder key landlord leasehold property118

Does a freehold invalidate the terms of a leasehold?

7th June 2024

Hi, two years ago I bought a flat within an Victorian building with several apartments. At the time of my purchase, my flat was leasehold. The cost of building management including service charged was apportioned by percentage, i.e square footage apportionment and I am the smallest apartment. For example, when I bought the flat the […]