Page 202 – Property118
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 […]

Tenant broken shower door?

7th June 2024

Hi, was wondering if anyone has had a similar issue. My tenant has broken the shower door, not sure how or why, but its happened. I have tried to find a replacement shower door, but have struggled, the only option is to replace the shower enclosure at a cost. I’ve informed my managing agent that […]

How to make more money from property than you currently make

7th June 2024

I believe that given what is happening right now in the UK, this is a perfect time to step up your property investing activity. With high interest rates, and the General Election next month, there is massive uncertainty, which means most property investors are just standing back, waiting to see, which leaves the market wide […]

Woman smiling in professional portrait for property market news article

UK house prices hold steady despite monthly dip

7th June 2024

UK house prices showed little change in May compared to the previous month, dipping by just 0.1%, Halifax reports. However, on an annual basis, house prices continued their upward trend, growing by 1.5% from April’s 1.1% increase. The average UK property now costs £288,688, which is a slight drop from April’s £288,862. Market activity remained […]