The Bank of England Monetary Policy Committee (MPC) has voted unanimously to maintain Bank Base Rate at 0.1% and to increase the stock of purchased UK government bonds by an additional £150 billion, financed by the issuance of central bank reserves (Quantitative Easing), to take the total to £875 billion. This cautious stimulus package was […]

Does anyone know of a 21st century conveyancer who will accept electronic signatures & ID? We have an inter-family sale agreed but one member of the family lives aboard which is delaying the process as it takes 4 weeks for post to arrive, and sometimes it doesn’t arrive at all! I’ve tried our last conveyancer […]

Retiree renters and those in upper-middle age category are the fastest growing tenant groups in the private rented sector (PRS), analysis from Paragon Bank has found.  Paragon’s new report ‘The Growth of Later Life Tenants’, released today, showed that the number of English households in the 55-64 year old age category in the PRS with […]

Property118 is no stranger to assisting the Univerisity of York with research into the UK Private Rented sector “PRS”. In 2014 Property118 members’ contributed significantly to this 183 page report. Dr Julie Rugg and Dr Alison Wallace, both research professors at the University of York, are now seeking your help again. Just in case you’re wondering; […]

From April 2021 I will need to get an Electrical Condition Report -as the rules have changed and this is needed for existing tenants. The problem I have is that my tenants are a nightmare for allowing workman into the property. Previously, the EICR was done (or at least obtained) by the tenant’s brother, but […]

Hi everyone. This is probably going to sound silly even as I write it but here goes. I’m a live in landlord who has been offered a job abroad for a few months. Accepting this job would mean me having to get a residency permit in that country for the duration of my stay (thanks […]

The recent policy announced by Boris Johnson that he will turn ‘generation rent’ into ‘generation buy’ by under-writing mortgage deposits for first-time buyers (FTBs) is outrageous and a non-starter for reasons I have outlined today on conservativehome. Click here  Due to word limits, I couldn’t expand on all the reasons this will get nowhere, so […]

I have a cottage in south York, with the potential to create a small annex with a separate entrance. I plan to live on my narrowboat most of the year, but with me occasionally staying in the annex, perhaps one night a week. Meanwhile, the 2-bed cottage will be a holiday let. The ‘annex’ will […]

I have a NIC Building Regs Certificate of Compliance on a 1 year old new build. Despite this the letting agent says I require a EICR. Having spoken to an electrical engineer locally he says that the building regs certificate I have is more than adequate as it carries more weight than an EICR and […]

Over 2000 landlords took part in our inaugural online show for the Midland and Manchester areas on the 8th October. Now, our attention turns to the national show on Tuesday 3rd November where we are expecting an even bigger event. Whilst there are of course frustrations that we cannot welcome you in person due to […]

Banks and building societies have agreed with regulators and HM Treasury to extend the provision of mortgage payment deferrals of up to a maximum of six months in the light of the tightened Covid-19 restrictions announced by the Prime Minister this evening. Customers seeking to access this support do not need to contact their lenders […]

To support borrowers affected by the new emergency lockdown the FCA will propose that consumer credit customers who have not yet had a payment deferral under the July guidance can request one. The deferred payment term can be for up to 6 months and borrowers who are currently benefiting from a first payment deferral would […]

Chancellor, Rishi Sunak, confirmed the Coronavirus Job Retention Scheme has been extended for a month with employees receiving 80% of their current salary for hours not worked along with further economic support announced for Lockdown part 2. The government’s Coronavirus Job Retention Scheme also known as the Furlough scheme will remain open until December, with […]

Although there has been no official guidance on any government website or press release yet, Housing Secretary Robert Jenrick, has announced yesterday by Twitter that the Housing Market will remain open within coronavirus safety limits during Lockdown part2. Jenrick has so far confirmed – Housing market update ahead of Thursday’s measures: Renters and homeowners will […]

We have an unencumbered rental property which we are considering transferring to our son when he turns 18 next year. What would be the most straightforward and tax efficient way of conducting this process? Would Stamp duty be chargeable at this stage? The value of the property has doubled over an 8 year period since […]

I have some decent mortgages with CCL, Rosinca and others (1.5% above base rate) and have enough properties to fill my time and needs. I now have the ability to repay all the mortgages (they have between 5 and 10 years remaining) and wonder if anyone has experience of gaining a discount in the settlement […]

Series two, Episode one of Property118 TV has just been released. Grab yourself a cuppa and within just 12 minutes and 27 seconds exactly you’re about to feel how neanderthal men felt when they first discovered fire. You will learn how Limited Companies can be structured in a SMART way for both income tax and […]

In turbulent times it’s more important than ever for property investors to protect their property wealth through effective tax planning. For this, an understanding of smart property company structures is essential to mitigate inheritance tax and provision for the next generation. Many landlords are now asking themselves; “why has my accountant never mentioned the benefits […]

I am constantly being approached by various Local Authorities to house single homeless people, something I am only too willing to do with certain conditions. In summary, my reply demands a guarantor, for both rent and damage without limit, using the catchphrase “You take the risk and I will take the tenant.” Nobody has taken […]

The latest Bank of England statistics for money and credit in September indicate the mortgage market strengthened further from its recover post lockdown. Net an additional £4.8 billion was borrowed secured on homes, following on from net borrowing of £3.0 billion in August. This reflects increased levels of mortgage approvals for house purchases over the […]

I served a notice on 16th October to terminate my tenancy, according to a 2-months break clause in my contract, expecting to pay only 2 month’s rent till I vacate the property on 15th December. However, the letting agent has got back to me saying the break clause falls within the statuary law which means […]