Page 511 – Property118

Only 37% of BTL products available directly from lenders

1st October 2019

Research from Paragon Bank shows that 57% of landlords are most likely to source their next buy-to-let mortgage from their existing broker, while 41% state they would be most likely to go direct to a lender for a buy-to-let mortgage. According to Moneyfacts.co.uk, currently 37% of buy-to-let mortgage products are available directly. The research from […]

Otherwise I am out of pocket?

1st October 2019

Tenant issued with a S21 and a first time for me as it is no for rent arrears! The chances are though he will stay on until bailiffs appear. To get to that stage I will have to pay £355 to start the ball rolling once the S21 date expires. The flat has been fairly […]

Policy Light

1st October 2019

The Secretary of State for Housing, Communities and Local Government, Robert Jenrick has given his speech to the Conservative Party Conference titled “Homes Fit for the Future.” The speech was very light on policy and devoid of mentioning the PRS so I will pull out what I can of interest to the housing market that […]

Property developers target North of England

1st October 2019

In a national study of developers, almost two-thirds (65%) plan to increase their investment activity in the North substantially over the next two years, with the biggest opportunities seen as being in houses and flats, according to a study by finance specialist Together. Over half (57%) earmarked the North East as Great Britain’s most opportunity-rich […]

Property inflation three times wage over last decade

1st October 2019

– The average UK property price has risen 43% since 2008, while wages have increased by just 15% over the same period – If wages had increased at the same rate as house prices over the past 10 years, the average annual UK salary would now be £35,113 – London boroughs and Home Counties play […]

AST for tenant’s lodger?

30th September 2019

My tenant in a very popular area of the city occupies a Victorian terraced house with three double bedrooms and two receptions. She is self employed and has been there for over three years living with her two children. The house is under utilised as it is easily big enough to accommodate four adults which […]

Council – Do as I say not as I do?

30th September 2019

I have become involved in an argument with Richmond Upon Thames council over plans by a homeless peoples charity to convert a local hotel/motel into a housing project. The local residents are shocked that the council has waived local planning guidelines on size of units, parking provision and communal space. The scheme will see tenants […]

Section 21 ban would devastate PRS

30th September 2019

The private rented sector (PRS) would shrink by 20% if Section 21 ‘no-fault’ evictions are banned, according to a new economic analysis report*. A new deal for renters? The unintended consequences of abolishing Section 21, by Capital Economics on behalf of the National Landlords Association (NLA), also forecasts a 59% reduction in housing available to […]

Impact of the Tenant Fees Act continues to be felt

30th September 2019

David Cox, ARLA Propertymark Chief Executive, said: “Although it’s positive to see that supply has risen, it is nowhere near enough to counterbalance the rapid pace of rising rents, which have reached a new record high for the fourth month running. Two thirds of agents reported landlords raising rents last month, which is a significant […]

Newly separated mother with children?

30th September 2019

I have just had an enquiry for my rental property from a lady with 2 children who is about to separate from her husband. They are currently in rented property. As the decision has only just been made, there is no formal legal agreement between them in terms of how much maintenance he will be […]

Freehold Director mix up

30th September 2019

When I bought my flat 2 years ago the managing agent reported that I would be appointed a director of the freehold company and he would take care of this with companies house. I received the share certificate and everything looked normal. Another freeholder has recently asked to resign and so I checked companies house […]

Court order to release deposit when tenancy has been surrendered?

30th September 2019

Does anyone have any experience in issuing a Court Order to release money held by the DPS? Just briefly, the tenants ‘surrendered’ their tenancy by writing to the Landlord, leaving the keys in the house (and most of their furniture) and without giving notice. In their letter to him they stated that he could have […]

Philosophers consider envy to be evil and destructive

27th September 2019

Property118 member, author and landlord campaigner Dr Rosalind Beck was able to ask the fourth question last night on BBC’s Question time presented by Fiona Bruce in Cardiff. The question presented to the panel including James Cleverly MP, Nick Thomas-Symonds MP, Adam Price AM, Mark Reckless AM, and Gina Miller was: Philosophers consider envy to […]

Norwich Council – False claims and hypocritical action

27th September 2019

A recent article concerning Norwich Labour Council’s attack on Section 21 has been responded to by a letter ( below ) to the Norwich Evening News. Readers are encouraged to email individually to ‘press’ for the matter to be covered. [ [email protected] ] Further, if any Norwich Landlords are aware of additional relevant information, please […]

Two Manchester 3 bed houses

26th September 2019

PIP is delighted to have been able to secure two discounted investment opportunities for readers, with discounted prices starting at only £152,000.   Our exclusive price includes an upgraded specification, white goods (washer/dryer and Fridge/Freezer) turf and fencing. According to our Rental Partner, Leef Property Management, investors will enjoy yields of up to 5.7%, as this […]

Housing on the Conservative Fringes

26th September 2019

Assuming Parliament goes into recess, or the ship is abandoned for the Conservative Party conference to proceed, the main agenda published so far does not even include housing policy. Housing is only listed as a category in the fringe events: click here to view. Interesting to note in the agenda below on 01/10/2019 15.00 ConservativeHome […]

SafeDeposits Scotland’s dispute management training tour

25th September 2019

In the last year, 490 disputes have arisen between landlords and tenants in the Edinburgh postcode area according to the latest research from SafeDeposits Scotland. The deposit protection provider found that the average amount that tenants and landlords in the capital disagreed over deductions to the deposit at the end of a tenancy was £351 […]

The standard of PRS accommodation has significantly improved

25th September 2019

The standard of accommodation in the PRS has significantly improved in the last decade as the sector has expanded and professionalised. The proportion of homes in the PRS in England deemed non-decent by the ONS has fallen for ten consecutive years, decreasing to 24.5% from 44% in 2008. In spite of the sector growing by […]

Should I sell or risk tenants buying at undervalue price?

25th September 2019

Should I sell? What Solutions are there for this Dilemma? I Realise that Nothing has happened YET! But I just want to be clear about what my options are. Who thought George Osborne would have removed Mortgage Interest Relief! / Removal of Section 21! + ALL the other Rules and Regulations they are Hitting us […]

Aldermore

Company Buy to Let rates reduced by 0.3%

24th September 2019

Aldermore, the Specialist Bank, has today reduced by 0.3% its Company buy to let remortgage and Company Multi Property purchase and remortgage products. The move is to help landlords looking for long-term stability when planning to grow their portfolio, purchase multiple properties or remortgage. Damian Thompson, Director of Mortgages, said: “We are pleased to announce […]

National Empty Homes Week

24th September 2019

Monday 23rd September marks the start of National Empty Homes Week. The Empty Homes Week was founded by Action on Empty Homes to highlight Britain’s underused or completely unused housing stock and to encourage action on how it can serve those with housing needs. Action on Empty Homes estimate that nationally there are over 216,000 […]