Page 407 – Property118

SDLT on Private Purchase of two properties to be combined to one?

22nd February 2022

We have a portfolio of properties rented out and are buying 2 attached cottages to make 1 private residence (the cottages are on separate deeds being purchased from the same seller). We are selling our main residence to fund the purchase. We are being told various amounts of what SDLT is due because of purchasing […]

New Material information disclosure guidance for listing properties

22nd February 2022

A property’s council tax band or rate and the property price and tenure information (for sales) must be included on all property listings by the end of May 2022 and these data fields will start to appear on portals over the coming weeks. These changes represent the first phase of a project by the National […]

Lazy and false assumptions that landlords are property tycoons

22nd February 2022

Government plans to end the cladding scandal are based on lazy and false assumptions that individual landlords are property tycoons. That’s the warning from the National Residential Landlords Association following comments made by the Housing Secretary, Michael Gove, to the Levelling Up, Housing and Communities Select Committee this afternoon. Speaking to MPs on the Committee, […]

The Last Chance To Get Your Deal Funded

21st February 2022

Have you got a property project that requires funding? Are you looking for a business partner or an Angel Investor to make that deal happen? Here is your last chance to apply to Property Elevator to get just that. Property Elevator is filming 1st, 2nd & 3rd of March. Apply here for a chance to […]

Ministry of Housing, Communities & Local Government

Amendment to Cladding Bill may force landlords to be treated equally

17th February 2022

Government plans mean individual landlords who are leaseholders renting out more than one property will be excluded from proposals, pledging that no leaseholder in a building over 11 metres in height will have to pay for the removal of dangerous cladding. An amendment tabled to the Building Safety Bill by the Conservative Peer, Lord Naseby, […]

Sadiq Khan wants Rent Repayments Orders doubled to a maximum of two years

17th February 2022

The Mayor of London, Sadiq Khan wants the amount that tenants can claim back if their home isn’t up to scratch doubled, to two years’ worth of rent, for the worst properties which pose a risk of death or serious injury. For London tenants paying the average rent of £1,425 a month this could mean […]

Older tenant walking aids required?

17th February 2022

I have an older tenant in a small one-bed ground floor flat. His walking is getting worse, and he is now using a small supermarket trolley to get back and forth from the shops to lean on and transport his goods, which is fine, but he now brings it inside. The front door immediately opens […]

13 Most Asked Buy To Let Mortgage Finance Questions

17th February 2022

Buy To Let (BTL) Mortgage Lending in 2022, this is part one of a two-part series where Akhil Mair, from Our Mortgage Broker, and I answer 13 of your most asked buy to let (BTL) mortgage finance questions. Please click on the video below:

Video Testimonial from Alphaletz CEO Richard Jackson

16th February 2022

Join Richard Jackson, Co-Founder of Alphaletz award winning App for landlords and Mark Alexander from Property118 as they discuss some of the reasons why incorporation could be good for Landlords in the UK. Richard talks about this own personal experience of being a portfolio landlord and some of the benefits of incorporation he experienced as […]

Average new build cost to rise 10.2% further fuelling house price inflation

16th February 2022

Research by Sirius Property Finance has shown that the average cost of construction for a new-build property is set to climb by almost £18,000 per unit, a jump that could cost UK housebuilders £3.2bn per year. The research by Sirius Property Finance shows that the current average cost of constructing a new-build home sits at £2,375 […]

Right to Rent – Unlawful discrimination consultation

16th February 2022

The Home office has opened a new consultation and code of practice applying only to residential tenancy agreements commencing on or after 6 April 2022. It also applies where a repeat check on an existing tenant is required to be carried out on or after 6 April 2022 to retain a statutory excuse: Click here […]

Tenancy Deposit Scheme fiasco – unilaterally terminated protection?

16th February 2022

I use the Tenancy Deposit Scheme insurance-based scheme. In my opinion, I would sooner pay a small premium to hold the deposit than have to jump through hoops trying to get payments for damages through the custodial scheme. If as a fait accompli you make a deduction from a deposit that you hold, the onus […]

Damage caused by neighbours overgrowth?

16th February 2022

Does anyone know how we stand regarding damage caused to our property by invasive plants in our neighbour’s garden? We’ve cut it back on several occasions over the years, but now it’s grown into the soffits at the back of the house where it’s hard to see, and caused damage. Can I ask them to […]

New Lows for Selective Licencing?

16th February 2022

We are no strangers to councils imposing Mandatory Selective Licences. We make representations at every opportunity even though we know they aren’t considered at all. I don’t generally disagree with the reported aims of such schemes, but there are few landlords who agree that the measures imposed do anything at all to help achieve those […]

Three Methods of Financing a Buy to Let Business Incorporation

16th February 2022

There are three main methods of financing a Buy to Let business incorporation. However, one of them is fraught with risks and high costs and it unlikely to be the method you might think of as being risky at first either. The three methods are: – The acquiring company provides an contractual indemnity to the […]

Tough new measures to enforce remove of unsafe cladding

15th February 2022

Tough new measures that will force industry to pay to remove cladding and protect leaseholders from exorbitant costs have been unveiled by Secretary of State for Levelling Up Michael Gove. For those in industry not doing the right thing, the government will be able to block planning permission and building control sign-off on developments, effectively […]

Selling my garden and pony paddocks?

15th February 2022

I have two pony paddocks of about 3 acres with our house and garden (1.5 acres). The paddocks have development potential with neighbouring land being already built on, or with recently approved planning. I am trying to work out what is the most tax-efficient way to exit, the options I see are as follows: 1) […]

Allowable Expenses Split for 90/10 ownership?

15th February 2022

Hi all, I am a new private residential landlord. The property is jointly owned 90%-10%. I am now looking for a definitive answer on how I should be splitting our allowable expenses for tax purposes. I’ve looked everywhere online and can’t find an answer. Do we need to split it 50/50, or can we split […]

High Court Ruling on adding extra Floors

15th February 2022

Thinking of adding extra floors onto your property? Airspace Development may now be a little harder as a result of last week’s High Court Ruling curtailing development opportunities. Last year, new Permitted Development rights were introduced to great fanfare as the biggest shake-up to the planning system. Although described as Permitted Developments, they are actually Prior […]

Appeal to rural Scottish landlords – Consultation process into New Deal for Tenants

15th February 2022

One of Scotland’s leading country property experts has issued an urgent appeal to rural landlords to become involved in the consultation process which has just begun into the Scottish Government’s proposed New Deal for Tenants. Jennifer Campbell, Head of Estate Agency at Baird Lumsden, the rural property arm of DM Hall Chartered Surveyors, said many […]