Page 398 – Property118

Average house price tops quarter of million pounds

3rd November 2021

The Nationwide House Price Index has just been released for October with the average property price breaking the quarter of a million barrier for the first time at £250,311. Annual house price growth remained high at 9.9%  and prices were up 0.7% month-on-month. Robert Gardner, Nationwide’s Chief Economist, said: “Annual house price growth remained elevated […]

Unadopted road walled off by neighbour?

2nd November 2021

Access to my property is via a very narrow private road. Turning space has always been limited, but previously, the adjoining unadopted road was accessible to use for 3-point turn etc. However, the neighbours in front of me have now bricked up that access to extend their rear garden. I don’t believe they have purchased […]

Students returning in greater numbers

2nd November 2021

Figures from The Deposit Protection Service (The DPS) have suggested that students returned to university in greater numbers this year compared to 2020 with 25% more students registering deposits between 1 August and 26 October compared with the same period during 2020. Matt Trevett, Managing Director at The DPS, said: “The DPS registered significantly more […]

Guaranteed rent disaster on new Nightmare Tenants Slum Landlords episode tomorrow night

2nd November 2021

The popular TV show, Nightmare Tenants Slum Landlords, returned to Channel 5 last week with episode seven of the 12-part series after a pause in the programme’s airing. Showing at the later time of 10pm, series six continues to follow the frontline work of letting agents, eviction specialists and lawyers helping landlords chase rent arrears […]

Bonfire Night – What are the rules for tenant fireworks parties?

1st November 2021

Bonfire Night is almost here. As one of the most popular and widely-celebrated days of the year, towns and cities up and down the country will be hosting large, public displays. But, with COVID-19 still an underlying threat, more people than usual are choosing to hold their own fireworks displays at home. For homeowners, this […]

£66m for somewhere safe and warm to stay this winter

1st November 2021

Rough sleepers will be helped into safe and warm accommodation and treatment services for drug and alcohol dependency this winter, supported by an extra £66 million the Department for Levelling Up, Housing and Communities announced. The support will help rough sleepers off the streets at a time of year when they face falling temperatures and […]

London rents breaching pre-pandemic levels

1st November 2021

The latest London property market analysis by Benham and Reeves, has revealed that rental values across the capital have not only bounced back versus the pandemic dip experienced in 2020, but have also breached pre-pandemic levels in all but three areas. The research shows that between 2019 and the initial pandemic year of 2020, the […]

Red upward arrow breaking through a surface symbolising challenges with roof access in a shared building

Access for roof space conversion?

1st November 2021

I have just purchased the roof space of a terraced house. The freeholder has given consent for the development of this space. However, one of the main issues is that there is no direct access to the roof other than going through one of the existing flats below. We would need to add an external […]

Serving section13 after 9-months fixed term AST?

1st November 2021

Hi, I have a 9-month fixed term AST with my tenant that includes a clause for the tenancy to become a contractual periodic tenancy after these 9 months. The question can I serve a section 13 notice to increase the rent after the initial 9-month fixed term? I note a section 13 can only be […]

Close-up detail of engraved eye from British currency representing financial focus and interest rate changes

Act Now before rates rise – Don’t delay

29th October 2021

The Bank of England Base Rate is currently at an all-time low at 0.1% and this has led to mortgage rates being at all-time lows. Interest rates change over time, just over 30 years ago the Base Rate was 14.88%, but for the last decade, it has been 0.5% or below. However, all of this […]

Misleading Right Move Adverts – What can we do?

29th October 2021

We are in a situation, where a dubious agent is advertising greenbelt land for sale on RightMove.com with a clause that says ‘Suitable for residential, commercial or agricultural subject to the necessary consents’. The local farmland was recently purchased, but the new owners are now subdividing into small plots which any new owners will have […]

How do we get EPC exemptions for listed buildings?

29th October 2021

We own or are responsible for several rental properties which are Listed Buildings or are Flats within a Listed Building. We have done all we can to mitigate the Energy Performance, but we have a couple that are never going to get above E because there is no gas in the building, and we cannot […]

Shelter says social housing is the only long term solution to homelessness

29th October 2021

The government released new figures on homelessness in England for the period April to June 2021. These figures include data for the first month after the ban in evictions was lifted at the end of May. They show: 91 families became homeless each day as lockdown restrictions lifted. Since the start of the pandemic a […]

Ministry of Housing, Communities & Local Government

Renter’s Reform Bill White Paper put on ice until next year

29th October 2021

The Government’s planned release of the White Paper for the Renter’s Reform Bill which includes proposals to ban section 21 evictions and introduce lifetime deposits has now been delayed until next year. The extra time is apparently needed to give an opportunity to produce a ‘balanced package of reforms’. The Department for Levelling Up, Housing […]

CGT reporting extended to 60 days

28th October 2021

As of Budget day, the government has immediately extended the deadline to report a Capital Gain on the sale of residential property from 30 days to 60 days. They have obviously realised this was a needlessly tight timescale and may have responded to complaints made by members of the Association of Accounting Technicians who have […]

UC taper cut does not undo the damage

27th October 2021

Responding to the announcement in the Budget that the Universal Credit taper will be cut from 63 to 55 per cent from 1st December 2021, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “Today’s announcement is welcome news for those private tenants who have struggled to afford their rents throughout the pandemic, […]

Rishi Sunak UK Budget 2021 & What It Means For Property Investors

27th October 2021

Rishi Sunak announces his Autumn 2021 Budget. This is a budget aimed at recovery and rebuilding the economy as we come out of the Covid-19 crisis. In this video, I look specifically at what this budget means for property investors. Where are the opportunities? Where are the threats? And what property investors should do next […]

Budget 2021 – Landlord Reactions

27th October 2021

No Nasty New surprises were announced for Landlords in Chancellor Rishi Sunak’s 2021 Budget speech to Parliament today. A key concern for landlords is inflationary pressure having to be released by the Bank of England increasing interest rates. The Office for Budget Responsibility (OBR) is predicting CPI inflation to average 4% over the next year. […]

£65m – Can landlords request funding on the tenant’s behalf?

26th October 2021

Over the weekend, the government announced a new £65m support package to help vulnerable renters who have fallen into rent arrears during the COVID-19 pandemic. It’s to be provided during the winter months and distributed directly to landlords through local councils, who will decide the best way to use the funding to support households behind […]