Page 508 – Property118

Stamp duty for multiple purchase from same seller?

22nd October 2019

Hi I’am currently in the process of purchasing 2 properties from the same seller. I believe this is termed a “linked” purchase and extra SDLT is payable to HMRC. Please can anyone advise me of what the position of SDLT might be in this situation. Both of the properties being purchased are HMO’s. Many thanks […]

Where Does Brexit Leave Investors in the Property Cycle?

22nd October 2019

If you’re planning to invest in property in the UK, it’s important to consider the impact of Brexit on the property cycle – and, in particular, on your position within that cycle. In this article, the housing market specialists at Property Solvers will explain the impact of Brexit on property investors and their position within […]

Help RLA fight Welsh Section 8 repossession challenge

22nd October 2019

The RLA is fighting a ruling which could stop landlords taking back properties from tenants who are refusing to pay rent. It could be very important to challenge these absurd legal decisions for when/if Section 21 is scrapped and the traps attached to Section 21 are potentially carried over to Section 8. The Crowdjustice campaign […]

Esther McVey wants digital revolution

22nd October 2019

Housing Minister, Esther McVey, has announced plans to release data held by local bodies to enable the UK PropTech sector to thrive and for them to “bring about a digital revolution in the property sector.” The Housing Minister will announce measures to: Open up Compulsory Purchase Order (CPO) data for the first time in a […]

Abandonment notice after doing a bunk?

22nd October 2019

My ‘darling’ tenant has done a bunk and left yesterday. Neighbours saw him shifting stuff in the night. I had a call from his ex-girlfriend this morning stating he had called her to say the same and also to tell her that her stuff was now on the street too. I was in the process […]

Tenant asks for so called ‘No Fault Eviction Notice’?

21st October 2019

One of my valued tenants has today asked me to serve a section 21 notice as he is not getting anywhere with the council in terms of providing a council house. He believes they will take him more seriously once his landlord has served him notice. This is not the first time I have received […]

Big corporate L&G invest £750m into affordable housing

21st October 2019

This is the kind of big corporate investment George Osborne and his political and corporate allies wanted to encourage back in 2015 with the introduction of Section 24 mortgage interest relief restrictions on private landlords. Legal and General Press Release: Legal & General Affordable Homes announces that it has committed £750m to new affordable housing […]

Hackney expand enforcement team and begin crack down

21st October 2019

Labour dominated Hackney Borough council have issued a warning to unlicensed and criminal landlords that they expanded their enforcement team and given the “go-ahead to begin a crackdown on dangerous conditions and mistreatment of private renters.” The Council claim that one in five tenants suffer from cold homes, disrepair, or damp and mould. As a […]

Cash buyers flocking to purchase from Landlords

21st October 2019

If you have been focusing in the Pantomime in Westminster, you may have missed that last week many Cash Buyers have been flocking to buy houses from Landlords with and without Vacant Possession. It makes no difference to the Price! Life is very difficult for would be tenants, as most landlords seek Vacant Possession in […]

RLA Chief wins CEO Today UK award

21st October 2019

The latest RLA press release reports: Andrew Dixon, RLA chief executive, has been named one of the UK’s top business leaders in the CEO UK Awards 2019. Dedicated to recognising ‘strong and innovative leadership’ amongst business leaders, the CEO Today UK Awards recognises Chief Executives who are leading in their respective sectors and beyond. In […]

New national model for shared ownership

18th October 2019

A package of measures to help people on lower incomes get onto the housing ladder have been confirmed by Housing Secretary Robert Jenrick. The government is reviewing a new national model for shared ownership to make it easier for people to buy more of their own home, including allowing them to buy in 1% increments. […]

Section 8 hearing adjourned due to hospitalisation?

17th October 2019

I have a tenant in arrears for more than 6 months and a court hearing was scheduled this Monday based on Section 8. The tenant called the court the morning of the hearing to say he’s in hospital so the hearing was adjourned. I’m wondering if anyone has had to deal with a similar issue […]

Housing possession court duty scheme

17th October 2019

The Government is holding a consultation covering additional legal support for those facing eviction or repossession. Currently, the Housing Possession Court Duty Scheme (HPCDS) offers free advice on the day to anyone at risk of eviction or repossession, this service is not means tested and is therefore available to anyone who finds themselves in this […]

Who needs a guarantor agreement?

17th October 2019

A guarantor is an individual who is agreeing to pay the rent if the tenant defaults on payments. Guarantors can often be necessary when renting to students or those in part time or low paid work, but any landlord can ask for a guarantor agreement if they feel there might be an element of increased […]

Oliver Knights used for money laundering fraudulent rental payments

17th October 2019

Three London criminals have been sentenced after pleading guilty to money laundering in April 2019. Two criminals were sentenced on 27th June 2019 and the third was sentenced on 21st September with all the sentences were handed down at Snaresbrook Crown Court. The sentences follow an investigation spearheaded by the National Trading Standards eCrime Team, […]

Landlords selling up in frustration – Rightmove

17th October 2019

New Rightmove research indicates 24% of landlords are planning to sell at least one property from their current portfolio, 13% will be selling more than one and 11% report they wish to sell their entire portfolio.  This is despite rents being at record levels having increased by 2% in the last year. Rightmove figures show […]

Top 25 UK Buy to Let postcodes

17th October 2019

Liverpool’s L1 boasts a strong 10% profit margin, smashing the 3% yield many of the UK’s postcodes offer. In L1, landlords snap up a property for an average of £90,000 and support their investment with a significant asking rent of £750 per month. But it’s not just Liverpool that’s doing well. Landlords may want to […]

Advanced rent leads to higher net tax?

16th October 2019

I am helping a relative complete her tax return. She owns a property, run as an HMO, with a group of four tenants who have separate rooms. The rental agreements require rent one month in advance, but in August 2018, in addition to the regular monthly rent, all four paid 6 months rent in advance […]

Landlords beware – cannabis farming on the increase

16th October 2019

New analysis by Direct Line for Business reveals a surge in the number of police investigations into the theft of electricity, where people have tampered with a gas or electricity meter, so it doesn’t properly record the energy used in England & Wales and its use in cannabis farming.  Analysis of 2019 data reveals that […]

DPS reveals most bizarre items left by students!

16th October 2019

Giant glow-in-the-dark swear words, a sex toy and a pet python are among some of the items that students left in their accommodation when they moved out over the summer, according to The Deposit Protection Service (The DPS). Part of The DPS’ role is processing landlords’ requests for deductions from their tenants’ deposits, and among […]

Rents rising at 2% but affordability has improved

16th October 2019

The inaugural Zoopla Rental Market Report, which records trends in the private rented sector has now been released and it indicates that being a renter is becoming more affordable with rents rising at half of the level of earnings growth during the past year UK rents have increased by 2% in the year to the […]