Page 436 – Property118

Application forms – got it ALL covered?

4th February 2021

In light of yet another BS initiative ironically called BS (Breathing Space), it is time I reviewed my tenant Application Form with a fresh pair of eyes. This seems the only way to be able to try and head off, some issues that could be an issue later down the line. Are there any long-standing/experienced […]

More rent – is there a catch?

4th February 2021

I have a two-bed flat let to a lady, her child and partner. Rent £630pcm – UC pays £599.99 she pays top-ups herself (as part working/claiming) Over Dec, there were some issues with her previous partner and the two children they have together, so the kids moved in with her on a very temp basis […]

Lessor’s responsibilities

4th February 2021

I was recently advised by my property managing agents, that there is a problem with damp in one of the bedrooms of the leasehold property which I let out. A specialist examination has revealed that this is due to condensation caused by the construction style of the property ‘with solid walls and very little ventilation’. […]

Is it worth it?

4th February 2021

Has anyone had experience in using DPS deposit dispute resolution services? After I had a dispute, claim for £316.50, I got awarded £80.00. It just to makes you think it is not worth having a deposit and wasting my time to prepare and submit evidence. Many thanks Wanda

Change over to holiday rentals?

4th February 2021

I have several family houses let on ASTs and now old age is approaching and taking into account various tax positions, IHT, CGT etc as they are all in high demand tourist areas and would easily let as holiday or air BB accommodation I wonder if this is time to change. I was looking to […]

Bank of England emblem symbolising decision to hold the Base Rate at 5%

Bank Base rate unmoved at 0.1%

4th February 2021

The Monetary Policy Committee (MPC) voted unanimously to maintain Bank Rate at 0.1% and to make no changes to the quantitative easing program. The effect of increased coronavirus cases and the third national lockdown is being offset in the medium term by the vaccination roll out to keep targeted inflation at 2%. The inflation report […]

Lack of access to APAs forcing UC landlords to serve notice

4th February 2021

Caridon Landlord Solutions, which provides specialist advice on Universal Credit and Housing Benefit to private landlords, letting agencies and housing associations, says that landlords with tenants in receipt of Universal Credit are struggling to set up Alternative Payment Arrangements because the online Universal Credit landlord portal is closed to new claimants.  It is thought this […]

An Incredible 43% Yield Property!

3rd February 2021

This is a property auction review video of some of the best property investment deals coming at property auctions Allsop & Auction House London reviewed by myself, Rod Turner, Jay Howard and Piotr Rusinek. In the 6th episode of the series, we analyse a shopping centre with an incredible 43% yield & a Starbucks in […]

Mortgage Express Receivership?

3rd February 2021

I had my portfolio decimated in 2015 by Mortgage Express taking four properties with £300k combined equity into Receivership. I have spent the last 5 years and £7k on a local firm of property lawyers trying to recover them….unsuccessfully. I have made complaints to the Ombudsman and the FCA and I am trying to refinance […]

How house prices are affected with tenants in situ?

3rd February 2021

On Facebook this week, a tenant said that her private landlord wanted to sell the house she is renting. Someone else then said had the tenant asked if their landlord would be willing to sell to another landlord so that the tenant could remain in situ. The tenant replied that their landlord wouldn’t do this […]

Eco 3 grant funding for boilers?

3rd February 2021

I recall some time ago before the smoke and mirrors of the green homes grant which seems to collapse around the government’s bureaucracy, that grants were already available by energy company obligation and local authority funding. Just wondering if anyone has anyone still been able to access these for boiler replacements for tenants, especially those […]

House Price growth slows as SDLT holiday is due to end

3rd February 2021

This month’s Nationwide House price report is showing annual house growth slowed to 6.4%, from 7.3% in December and that prices are actually down 0.3% month-on-month, after taking account of seasonal factors. The number of privately rented households fell to 4.4 million (from 4.6 million in 2019), resulting in a slight decline in the proportion […]

£50 million to support students

3rd February 2021

Responding to the announcement below of an extra £50 million of financial support for students in England including to help them with accommodation costs, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “Whilst we welcome the news of further financial support, it begs the question why student renters are being treated differently […]

Convert to HMO or not?

2nd February 2021

I have a reasonably good-sized mid-terrace property coming vacant. In the past, I let this to families. The ground floor of the house has a large front room, large mid-room and a large kitchen. Upstairs there are two medium-sized bedrooms, good-sized box room (8ft x 6ft) and bathroom, there is also a loft room with […]

It’s official – NO NEED to refinance when incorporating into a limited company

1st February 2021

HMRC CONFIRMS you do not have to refinance all your properties when you incorporate your portfolio into a Limited Company. In this video below, Mark Alexander from Property 118 & I, Ranjan Bhattacharya, break down exactly what this means for property investors! HMRC Capital Gains Manual CG65745: https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg65745   

Residential to Ltd co for capital raising?

1st February 2021

I have a 10 property BTL portfolio in a Ltd Company. I want to expand, but my lender option is compromised by their current policies. My own home is unencumbered, but I’m being rejected for finance on that because “my income is from property”. I am happy to transfer/sell/ or give my property to the […]

Wrongly given lodger agreement instead of AST?

1st February 2021

Hi I mistakenly rented out a self-contained studio flat annexed to my house to a young lady. I have given her 28 days notice to leave the flat as I stated in the lodger agreement I didn’t want her to have any visitors, and she has a boyfriend over. Also, I suspect there has been […]

Informing Local Authority of EICR?

1st February 2021

Re. EICRs, from the .gov site click here We must:- Supply the local authority with a copy of this report within 7 days of receiving a request for a copy. -Supply written confirmation of the completion of the remedial works from the electrician to the tenant and the local authority within 28 days of completion […]

Kensington Flat For £45K At Auction?

29th January 2021

Property Auction Review video of some of the best property investment deals (both Residential & Commercial) coming at property auctions Allsop & Auction House London reviewed by myself, Rod Turner, Jay Howard and Piotr Rusinek. In this episode, we analyse a bank building in Sudbury & a Kensington flat on sale for £45K with an […]

New pet friendly standard government tenancy agreement

29th January 2021

The government has released its latest standard model tenancy agreement to cater for responsible tenants with well-behaved pets. Under the new Model Tenancy Agreement, announced by Housing Minister Rt Hon Christopher Pincher MP, landlords will no longer be able to issue blanket bans on pets. Instead, consent for pets will be the default position, and […]