Hello, my property is a BTL residential freehold property. I have been approached by a business owner through an intermediary who is willing to rent the property on an AST. My property has a selective licence. The business owner will be renting the property but his staff will stay at the property. Am I allowed […]

Houses in Multiple Occupation (HMOs) in Wales have emerged as the highest yielding properties in Britain, a survey reveals. According to Paragon Bank, Welsh HMOs produce an average yield of 9.01%, generated from an average £29,100 rental income and an average £322,000 valuation. The BTL specialist says that Yorkshire & Humber is second with landlords […]

Despite what Shelter and tenant activist groups say, only a small minority (4%) of renters are evicted or asked to leave by their landlord. The English Housing Survey Private Rented Sector report for 2021-2022 reveals the majority of renters (77%) ended their last tenancy because they wanted to move NOT because of eviction. According to […]

The rental market is facing a serious imbalance as more tenants are looking for properties than landlords are offering. According to the latest RICS UK Residential Survey, there were 40% of respondents that reported an increase in tenant demand than a decrease in June. However, 36% of respondents reported a drop in landlord instructions than […]

Foreign homeowners have £84.2bn worth of property across England and Wales, according to a new report. Letting agents Benham and Reeves reveal that there are an estimated 280,021 homes currently registered with an overseas correspondence address or to an overseas company across England and Wales. London is home to the highest number of foreign-owned homes […]

The Bank of England (BoE) is warning that higher buy to let mortgage rates could see landlords sell up and leave the private rented sector – or push rents up for tenants. In its latest Financial Stability Report, the BoE says that the average increase in BTL mortgage repayments by the end of 2025 will […]

MPs are calling on the government to turn empty buildings into affordable homes. The group of MPs believe turning commercial properties into residential spaces can help solve the housing crisis. According to government figures, there are currently 250,000 empty homes across England. Empty council buildings could create 20,000 more homes The group of MPs who […]

Hello, to help raise my BTL EPC rating I had external insulation put on my 2-bed Victorian terrace house. The system consisted of pipework alterations followed by expanded polystyrene sheets (EPS) mechanically fixed to the walls. This was then encased in a cement-based render with a top coat of self-coloured render. I duly informed my […]

BTL mortgage arrears are rocketing for landlords in the private rented sector (PRS), while they are falling for homeowners, a new study reveals. The research from Octane Capital, a specialist property lender, analysed industry data on the proportion of mortgages that are behind on payments by 2.5% or more of the loan balance and compared […]

Hi, my lease ground rent has a six-monthly payment schedule, from which the leaseholder should send an invoice for the amount due. They have missed the last 2 invoices ( I haven’t received them via post) and, the first I heard about it was that the debt collection agency PDC issued a demand for the […]

Lettings agents are being urged to contact their MPs over the Renters (Reform) Bill since it appears that the upcoming Parliamentary recess means there is no time to debate it until the autumn. The call is being made by payment platform PayProp after fears that some issues that aren’t in the current Bill will be […]

Hello, I have a tenancy signed by two tenants as a joint tenancy. The tenancy is due to renew in Feb next year. Tenant A has verbally confirmed that she is leaving this month. Tenant B said she wants to stay and plans to renew the tenancy next year in Feb. Could anyone advise what […]

Latent Gains occur when the total liabilities of a property rental business exceed the total acquisition costs of the business, also known as ‘Base Costs’ for CGT calculation purposes. This is why it is so important for Accountants of property rental business owners to maintain an accurate balance sheet in addition to profit and loss […]

Hello, I have a problem tenant and served S21 in April. Only since the S21 expired the tenant has started to default on payments and I have only made 30% of the rent. I used the accelerated possession process to get an order of possession. I now have heard from the judge and the tenant […]

A new report has found that nearly 225,000 landlords could lose money on their rental properties when they renew their mortgages as buy to let rates approach 7%, the Daily Telegraph has revealed. An analysis from real estate firm Hamptons has found that 11% of all mortgaged rentals – that’s around 226,930 properties – in […]

Hello, my tenant’s current rental agreement ends in October. I need to give notice as the house needs modernisation and won’t be habitable. What are the important things to know? Is there a template notice document? I have an up-to-date gas certificate and EPC. There are no outstanding repairs. Anything else I need to be […]

Property sales are falling across the country due to rocketing interest rates, according to new research. Data from House Buyer Bureau reveals across Great Britain there were just 43,209 transactions in February 2023  this was -45.2% less than in December 2021. The Bank base rate currently sits at 5%, following a 0.5% increase in June. […]

New research reveals there are £21 billion worth of holiday homes in England and Wales. Letting agents Barrow and Forrester discovered there are 71,140 holiday homes found across England & Wales. Cornwall ranks as the nation’s holiday home hotspot with more than 6,000 properties worth an estimated value of £1.93 billion. South-West England ranks as […]

The Levelling Up, Housing and Communities Committee has been told that the Renters (Reform) Bill needs strengthening to prevent landlords from using a loophole to evict tenants for no reason. The follow-up meeting heard that under the proposals, the law will enable landlords to take possession of their rented property when they or a family […]

We remember the times when Birmingham Midshires allowed us to submit 100+ mortgage applications for one Client, in one week. Those were the days, but even now, with all of the new stress testing calculations, LTV caps, and restrictions on how many properties BM will allow you to have with them, we still have plenty […]

Hello, looking for some advice from Property118 readers. I currently have a lease with 65 years left to run. The property is a house and converted into two flats. My question is would it be a better option to buy the freehold or just renew the lease? Also, any recommendations on companies to help with […]