Page 364 – Property118

Assured Shorthold Tenancy with break clause vs Two-year Fixed Tenancy?

3rd August 2022

We are private landlords by default. For the past 5 years we have had a couple rent our property under an Assured Shorthold Tenancy agreement which includes a usual break clause. We are now looking to renew the tenancy agreement for another two years, but the letting agent suggests that we enter into a two-year […]

My own personal holiday home in Spain?

3rd August 2022

Hi, I understand that it’s best to consult a specialist lawyer but I thought I’d ask in case others are in the same position. I have properties in the U.K. in my personal name and am a higher-rate taxpayer. All the properties have mortgages secured against them. I am about to complete on a holiday […]

student life - rising student rents - property118.com

Fears over student accommodation supply and rising student rents

3rd August 2022

The UK’s leading student accommodation search engine says the supply of HMO student accommodation (Houses of Multiple Occupation) will be compromised under planned changes to tenancies as part of The Renters Reform Bill. This will, Accommodationforstudents.com says, result in fewer accommodation choices and higher rents for students. Currently, the UK student housing market offers students […]

house prices rise

UK house prices rise by 8.3% says Zoopla

3rd August 2022

Hot on the heels of yesterday’s news from Nationwide that house prices had rocketed in value by 11% over the past year, comes news from Zoopla that offers a different figure. The property website says that the UK’s house prices have risen by 8.3% in the last 12 months, bringing the average home price to […]

rental market record high rents record low voids

Voids hit record low – but rents hit record high

2nd August 2022

We didn’t just see record-breaking temperatures in July, there was also a surge in high-value student lets to help average rental costs and void periods to break records, according to Goodlord’s latest rental index. The figures show that the lettings market continues to gather steam and, thanks to a higher-than-average demand for student lets, average […]

Tenth monthly house price rise keeps growth in double digits

2nd August 2022

Despite the UK’s cost of living crisis, lower affordability and high inflation, annual house prices reached double-digit growth in July, Nationwide has revealed. However, one leading estate agent is predicting that the figures are pointing to an ‘apocalyptic, once-in-a-generation crash’. Mortgage lender Nationwide says that the annual rate of increase in July reached 11%, that’s […]

BTL lenders asking for EPC C or above?

2nd August 2022

Just a heads up for everyone – I’ve recently remortgaged to fixed rate products due to the continual increase of the Bank of England Base Rate and, no doubt more to come on the 4th of August! In every instance, the mortgage lender has stipulated the EPC rating must be C or above in order […]

Landlord responsibility to notify LA of new tenancy?

2nd August 2022

Can anyone advise, please? I had a new tenant move in some time ago. I advised the tenant that he had 4 weeks to notify the Local Authority of his responsibility for Council tax. However, he has only managed to pay for some months’ council tax and not others. Unfortunately, I did not notify the […]

Should Buy To Let Landlords Incorporate Their Property Portfolio?

1st August 2022

Property Investors holding their Buy To Let Properties in their own name, are going to be purged over the next 5 years due to interest rates and inflation. In this video, Alex Norian from Property118 and I will tell you how you can protect yourself and solve this problem. This is part 1 of our […]

Deed of trust on US holiday let?

1st August 2022

Hello everyone, My wife and I jointly own a holiday let in the USA. We have a small US Dollar mortgage but finance costs have risen sharply which looks set to continue with the Fed currently increasing interest rates on a monthly basis. My wife earns around £7000 pa and I earn in excess of […]

Buildings Insurance Renewal Impossibly High – From £350k to £500k

1st August 2022

I am a director of a Right to Manage (RTM) for a development with 93 units. Our buildings insurance renewal is due on Monday and, true to form, the renewal premium has only just come in. It has gone from £350,000 to £500,000, with the broker claiming that the uplift is due to the re-build […]

Exodus of tenants and buyers leaving London

1st August 2022

The number of Londoners who are buying property outside of the capital has risen by nearly a fifth when compared to pre-pandemic levels – and tenants are joining them, research reveals. According to real estate firm Hamptons, in the first half of this year, Londoners snapped up 40,540 homes outside of the city, which is […]

How to obtain Class MA Prior approval

1st August 2022

Yue was one of the first people to obtain a class MA prior approval with the help of Linda Wright and PLANiTWRIGHT. In this video, we look and Vue’s project and find out how he used Class MA to do a commercial to residential conversion. We look at the planning issues which had to be […]

Does emergency work over-ride a S20?

1st August 2022

Hi all, We are a block affected by the lack of fire stopping, cladding and other fire-related issues. The block is 5 years old and has numerous issues and defects and when we formed the Right to Manage (RTM) in March we took on all these issues and more that the managing agent had not […]

Accessibility standards to be raised for New Builds

29th July 2022

New homes will be more accessible for older and disabled people as the government today (29 July) confirms plans to raise the accessibility standard following full consultation of proposals. The raising accessibility standards for new homes consultation proposed staying with the existing framework for accessible housing, reconsidering the way existing standards are used or raising […]

The Latest Government Legislation Proposals and Property Economy Update

29th July 2022

Wednesday 3rd August 6pm – 9pm National Virtual pin Meeting. Click here Paul Shamplina, founder of Landlord Action and Chief Commercial Officer of Hamilton Fraser and often referred to as ‘The Landlords’ Friend, will be discussing and helping us through the recent Government white paper 12 point action plan, which contains the proposals for a […]

Rental property repossessions 56% down on pre-pandemic figures

28th July 2022

Industry analysis by Landlord Action has revealed that the number of rental property repossessions carried out on behalf of landlords across England and Wales has increased by 1,487% annually, following the end of the tenant eviction ban implemented to protect the nation’s renters during the pandemic. Tenant evictions and their wider welfare within the rental […]

Ministry of Housing, Communities & Local Government

Building Safety Fund opens for new applications

28th July 2022

More leaseholders in high-rise homes will be spared unfair bills for building safety costs as the government’s £4.5 billion Building Safety Fund reopens for new applications today. Buildings over 18 metres with cladding issues are eligible to apply for the fund, which has allocated over £1.3 billion towards making homes safe since its launch in […]

Conflict of Interest with fees paid by purchaser?

28th July 2022

Hi All, I have recently come across a ‘Modern’ online method of auction. The house to be sold was circa £225,000. The online auctioneer was instructed by the vendor, but the fee of £6,000 was to be paid by the purchaser. Now, this seems to be a big fee, but the client, the vendor paid […]

Two weeks notice for section 8 ground 12?

28th July 2022

Hi Everyone, Can a Section 8 ground 12 notice for breach of AST contract be issued during the FIXED TERM agreement, which is now in its 8th month of 12? Guidance for Ground 12 seems to allow for just 2 weeks’ notice rather than 2 months or longer for most grounds. Any help would be […]