I am in the process of the purchase of a traditionally built 3 bed house freehold title. I Am using a new solicitor on this banks panel. We are near the end of the conveyance with mortgage offer, searches done etc. The title has standard restrictions put in by the Council such as only occupied […]

I have a property which is let on a 12 month AST jointly to 3 sharers. All are named on the tenancy agreement and are specifically jointly and severally liable for rent, compliance with terms of the lease, etc. The break clause, which can be exercised after 6 months is written as follows “….that either […]

Norfolk Property Network’s first meeting of 2020 will be Wednesday 19th February at the Oaklands Hotel Norwich. I will be joined by Mark Smith (Barrister-At-Law) Hon legal Counsel to Property118 and the co-designer of a range of solutions for business structures wherever you are on your property career. Effective landlord tax planning utilises all available […]

Scottish Government have issued a further consultation to mandate EPC Band C on all homeowner’s properties offered for sale or which undergo major renovation by 2024, 6 years ahead of the previous target of 2030. The current average rating in Scotland is D61, being 9 SAP Points below the proposed threshold. This is in the […]

Taking professional advice on the optimal ownership structure for UK landlords is arguably the most overlooked aspect of their financial planning. It is probably fair to say that most landlords do a fair amount of reseach when buying properties to consider the potential for capital appreciation and cashflow. They also research the mortgage market for […]

How much do people get fined for driving a vehicle without a driving licence? I ask this question because recently a landlord was fined £90,000 for not having licences despite his properties being faultless! It makes me think that no landlord should take the risk of owning properties in their own personal names these days, […]

Surprisingly after all the instability last year the Halifax House Price index is showing growth of 4.1% on January 2019 with the overall average house priced at £240,054. On a monthly basis, house prices rose by 0.4% and in the latest quarter (November to January) house prices were 2.3% higher than in the preceding three […]

New tax deadline for property sales. I read this this morning (I think I may have heard about it before, but this time it registered): 6 April 2020 will see a change in the deadline for UK residents who sell a residential property as to when Capital Gains Tax (CGT) on the sale is due. […]

If you are a landlord in Scotland and you own properties in your own name, you might be considering transferring your rental property business into a legal company. GOOD NEWS – the LBTT is likely to be a LOT less than you might imagine. First, if you are transferring more than six properties, there is […]

An agent marketed a UK residential property for £795,000 but with just 1% Stamp Duty, i.e  £7,950. The agent had NOT made a mistake! Ordinarily, the Stamp Duty on a £795,000 investment property would  be £53,600 after factoring in the 3% additional rate. Our client, who was extremely interested in buying the property, queried this […]

Hello All at 118 Property, I have a question, I’m in the process of buying a house to let. The Electrical safety report done in 2017 highlights the Electrical enclosure of the power unit to be of flammable material. the report shows C3, Improvement recommended. Does this mean that it will fail it’s next test […]

Hi, I am after a bit of advice. I purchased a Buy to Let property in 1998 for £14550 on a mortgage in my name only. I married in 1999 and we then went on to buy a couple more BTLs. We divorced in 2008 when I had to remortgage this particular flat along with […]

I have evicted a tenant 9 months ago after getting a CCJ for possession and money. The Court order states about £20,000 owed. She has no car, savings or wealth but is earning over £5K a month from freelance consultancy work. If I take her to court from “Enforcement” is the Judge likely to grant […]

Housing Secretary, Robert Jenrick, has announced plans cutting the cost of some new homes by a third. The First Homes scheme will see a discount locked into the property to ensure more first-time buyers benefit in years to come. Local people unable to afford a home will be able to buy in their area, rather […]

Our dear friend, David Knox – A.K.A. “Appalled Landlord” passed away on 21st January 2020. He was probably best known by Property118 readers for publishing his investigative work and critique of the ‘so called’ housing charity Shelter, the lack morals and underhand practices of which he despised. He published 50 articles on Property118 over a […]

To cut a story short… Bad tenant trashes flat and leaves with rent arrears. Legal process begins. Court dates where I attend and she doesn’t – still no resolution. Situation is now that it has been moved to small claims track court with a hearing date of early March. I KNOW she wont turn up […]

I’ve had plans drawn up for a conversion of my outbuilding into an open plan bedroom/kitchen with separate shower room. The outbuilding replaced a garage under permitted development by the previous owner. It is comparable to a good sized single garage. I’ve had builders etc. round and with all the required changes (to meet building […]

I am pretty experienced with property and tend to do all my own building work. I run semi and terrace BTL’s, but I am thinking about buying a large old house converted into 7 flats. This type of thing will be new for myself and so any pointers on what I should be thinking about […]

On Tuesday 4th February we saw the first of BBC Two’s three-part series about ‘Universal Credit: Inside the Welfare State’. Universal Credit is the biggest overhaul of the welfare state in a generation. It was designed to simplify the benefits systems and encourage the unemployed into work. However, since its introduction, Universal Credit has been […]

This week Cornwall Housing Private Lets starts its search for more landlords, with a range of services, to increase the number of safe and secure homes in Cornwall and help prevent anyone from sleeping on the streets. Through partnership working with Cornwall Council, Cornwall Housing has been successfully awarded funding under the Rapid Rehousing Pathway […]

The latest research by tenant deposit replacement scheme, Ome, has looked at the cost required to secure a rental property for the growing trend of over 60s opting for the rental market over homeownership and what percentage of monthly income this initial step requires, as well as how it compares to younger generations. With high […]