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Shadow Housing Minister backs NRLA calls on Rent Smart Wales property118.com

Shadow Housing Minister backs NRLA calls on Rent Smart Wales

16th August 2022

The Welsh Shadow Minister for Housing, Janet Finch-Saunders, has backed the NRLA’s calls to improve Rent Smart Wales (RSW) for landlords and tenants. The MS for Aberconwy agrees with the NRLA that Rent Smart Wales should: Publish annual performance statistics that help give a clearer picture of how it is performing and inform policy-making more […]

4 Obstacles Buy To Let Landlords Face When They Incorporate

15th August 2022

Incorporation of your Buy To Let Properties has its obstacles. In this video, Alex Norian from Property118 and I will tell you the 4 obstacles Buy To Let Landlords face when they incorporate and how to tackle them. Please click on the video below:

Media Support for Landlords?

15th August 2022

Ben Beadle of the NRLA has managed to have a much-needed article in support of the PRS published in the Telegraph on Monday 8th August. https://www.telegraph.co.uk/property/buy-to-let/next-prime-minister-needs-undo-damage-unleashed-landlords/ I don`t know how he managed it but with any luck, there may be follow-ons. Entitled “The next prime minister needs to undo the damage unleashed on landlords” it […]

How do I identify a freeholder? landlords property118.com

How do I identifying a freehold owner?

15th August 2022

Hello everyone, How do I identify the freehold owner of a 999-year leasehold, 2 bed terraced property? I would like to buy the freehold. Also, is it possible to get a ground rent of £1.60 per year to be removed from a leasehold property if it is not being collected? Thank you. Sailus

Consent to let from Freeholder landlord property118.com

Do I need consent to let from the Freeholder?

15th August 2022

Hello, Do I need consent to let from the Freeholder when I am planning to get a potential tenant on an AST? According to the Section X of the lease document: “To sublet the whole or any part of the Premises save that an underletting of the whole of the Premises with the prior written […]

Refund for damages out of tenant's deposit property118.com

Refund for damages out of tenant’s deposit

15th August 2022

Hello everyone, Based on the level of damage at the end of a tenancy, the tenant agreed to refund me £550 out of his £750 deposit, which was paid to me by the letting agency. Then the agency submitted a claim for the remaining £200 to DPS on my behalf. The arbitrator has now decided […]

Help with independent subsidence claim needed landlords property118.com

Help with independent subsidence claim needed

15th August 2022

Hello, Can anyone suggest where I can find a genuinely independent firm to oppose/fight disinterested insurers for a subsidence claim? There are dozens of biased loss adjusters etc who are paid well by insurers, and civil engineers are not really what’s needed to take on insurers. Any help or advice anyone? Thank you. Grahame

Student HMO rentals landlords agents property118.com

Are student HMO rentals in decline?

15th August 2022

Hello everyone, My 4 bed Victorian terrace in Leicester, a big university city, has been rented to students for 7 years through an agency. Last year was a struggle to rent and there have been no viewings for the next academic year starting in September. How can I tell if my agent is slacking or […]

winter rent arrears crisis as energy costs propert118.com

Fears over winter rent arrears crisis as energy costs soar

13th August 2022

The soaring cost of energy is causing hardship for many families, and is only set to get worse. Landlords need to keep communicating with tenants – and ensure their rents are protected. Landlords face a “perfect storm” from potential rent defaults and rising mortgage interest rates this winter, as energy prices soar. Leading insurers say […]

Properties Urgently Required – Exclusive P118 members deal

13th August 2022

Lettingsupermarket.com™ urgently requires stock having let 80 properties in the last 4 weeks.  We have huge tenant demand and a list of 1000+ tenants who have registered their interest in the last 4 weeks. Exclusive to new property118.com clients Lettingsupermarket.com™ is offering 3 months of free management on all properties let on the full management […]

The Property Investment Strategies To Focus On In A Recession

12th August 2022

The property investment strategies to focus on in a recession presented by Ranjan Bhattacharya at the Baker Street Property Meet. We’re in for the worst recession the UK has seen, so don’t waste your time and money on property strategies that won’t work in the near future. In this video, I outline the single greatest […]

Hand reaching toward a house-shaped safe representing secure rental deposits

What can a tenant’s deposit be used for?

12th August 2022

Hello everyone, I have had a housing benefit tenant, with the rent paid by Universal Credit, since April 2021 and the tenancy ends on 31 October 2022. The rent for April and May was paid on time by Southwark council but I was only notified by the tenant at the end of June 2022 that […]

guarantors for all tenants property118.com

Is it time for landlords to have guarantors for all tenants?

12th August 2022

Hello everyone, In these difficult economic times, firms are regularly going bust and creating financial problems for their employees, and the SE (self employed) are just as vulnerable. Would it not make sense to have guarantors for all tenants? Thank you, Grahame

The average buy-to-let mortgage rates for some typical two-year fixed rate deals favoured by landlords have doubled since the start of the year, it has been revealed. According to Property Master's Mortgage Tracker, the average rate for a typical £160,000 BTL mortgage fixed for two years for a Loan to Value (LTV) of 60% had more than doubled since the start of this year – from 1.69% in January to 3.43% in August. This took the monthly cost, including fees, from £262 to £494, an increase of £232. The online buy-to-let mortgage broker also found that the same mortgage fixed for five years had also increased dramatically from 1.94% in January to 3.5% in August - an increase in monthly costs, including fees, from £273 in January to £481 in August, up £208. 'Cost of buy-to-let mortgages continues to rise inexorably' Angus Stewart, Property Master's chief executive, said: "The cost of buy-to-let mortgages continues to rise inexorably. "Obviously, much of this reflects the Bank of England's decision to hike interest rates for the sixth time earlier this month but there are other factors at play too. "We are seeing reduced competition in the buy-to-let mortgage market caused by a combination of factors with some lenders using higher rates to manage customer demand, whilst others are taking the opportunity to widen their margins." He added: "We have said for some years that increased regulation and higher costs were leading to the professionalisation of the private rented sector. "In reality, this will mean fewer but larger landlords. 'Unaffordable rises in mortgage costs' "For many of the smaller players in this market, unaffordable rises in mortgage costs will undoubtedly lead them to conclude buy-to-let no longer works for them. "Indeed, the latest figures from HMRC show a dramatic increase in takings from Capital Gains Tax suggesting many landlords are deciding this is the moment to sell-up." The Property Master Buy-to-let Mortgage Tracker follows 30 lenders who constitute around 75% of total BTL mortgage lending.

Some BTL mortgage rates have doubled this year – as rates rise ‘inexorably’

12th August 2022

The average buy-to-let mortgage rates for some typical two-year fixed rate deals favoured by landlords have doubled since the start of the year, it has been revealed. According to Property Master’s Mortgage Tracker, the average rate for a typical £160,000 BTL mortgage fixed for two years for a Loan to Value (LTV) of 60% had […]

rats in cages tenants reference property118.com

Unacceptable tenants – do I need to supply a reference?

12th August 2022

Hello everyone, We had tenants for 4 years living in our 5 bed house next door. We got on very well and we were quite relaxed with them. Over time however, I came to realise that they were moving in more rodents in cages into bedrooms. I arranged for an agent to start to manage […]

HMOs grow in value as tenants demand better amenities landlords property118.com

HMOs grow in value as tenants demand better amenities

12th August 2022

Houses in Multiple Occupation (HMO) are moving up the value chain as tenants demand better amenities, research by Paragon Bank has revealed. A survey of HMO landlords found that tenants today expect en suite bathrooms, larger rooms, high-speed broadband and quality furnishings. An HMO is a property consisting of at least three people who are […]

Shelter’s warning after landlord repossessions rise

12th August 2022

The number of landlord possession actions in England for all court stages has increased compared to the same quarter of last year, the Ministry of Justice has revealed. In the latest data, they have compared April to June of this year, with the same period last year. The figures highlight: landlord possession actions; claims (18,201), […]

Where UK property investors are bulk buying to boost their portfolios

12th August 2022

British investors are spending an average of £1.2 million to quickly bolster their property investments by buying full portfolios rather than single properties, research reveals. According to specialist property lending experts, Octane Capital, the North East is currently providing the best value for money. The firm says that some experienced property investors prefer to invest […]

Can you help with research on new tenant referencing tools?

11th August 2022

The University of York and the University of Bristol are undertaking work on new digital risk profiling tools in housing. Digital automated products that undertake tenant referencing are part of a new digital landscape for landlords and agents that automate parts of the tenant selection and tenancy and property management processes. We are interested in […]

rents and house prices rise property supply falls property118.com

Rents and house prices to rise across the UK as property supply declines – RICS

11th August 2022

Rents and house prices will continue to rise across the UK even as demand drops because there is a severe lack of housing stock, research from RICS reveals. According to the RICS Residential Market Survey for July, there was a continued fall in house sales over the month. And while tenant demand is rising, there […]