Jack moved out of his flat three months ago to live with his girlfriend. Rather than selling his flat he decided to obtain consent from his mortgage lender to rent it out to two students just in case the relationship doesn’t work out and he needs to move back in. He’s a normal guy, certainly […]

I am a regular reader of Property118 and I find it very useful, especially with the vast amount of useful information that’s made widely available through these forums. I am a BTL investor myself with 9 properties – my credentials are as follows: annual rental income of £65K with finance costs of £18K and maintenance […]

The Property Ombudsman (TPO) scheme has issued new guidance for agents concerning obtaining express consent from a tenant before accessing a property. A number of interpretations of the amended paragraph  ‘Access to a Property’ of the updated TPO Lettings Code of Practice concerning obtaining express consent from a tenant before accessing a property have stated […]

At Property118, we have been saying for some time that the Government’s discriminatory fiscal attack on unincorporated landlords with finance costs (embodied in Section 24 of the Finance (No. 2) Act 2015) is an outrage and will lead to massive rent rises, including for students. As we know, at the same time that the Government […]

Tony contacted me for help to understand how the tax changes to mortgage interest relief will affect the property rental business of himself and his wife. A fact find and the report below was completed in two hours. Tony has given me permission to share the bulk of the report on the basis that it […]

I am writing this somewhat preemptively in the hope of some suggestions from the Property 118 readership. Recently the local authority (North East Lincolnshire Council) have been carrying out inspections at rented properties following a complaint by a tenant (justly or otherwise), with the results/hazards identified, of which there are always many, and the recommended […]

I’m asking this question for a friend of mine who is now having problems with tenants who have now left the property. My friend had work in Singapore for 6 months so rented out his flat. Everything was fine and he had a really good relationship with the tenants. What he failed to do was […]

If a tenant has been served a 14 day possession order to leave but you know they will not vacate can you escalate this to either the high court or directly to the bailiffs or do you have to wait for the 14 day period? If I used the escalated possession procedure section 21 notice […]

I have been advised not to supply any gardening equipment, including lawmowers, on health and safety grounds. We would be liable if the tenants hurt themselves on equipment we have supplied. Does everyone think this is correct? But what about cookers, kettles, toasters etc. If those health and safety grounds apply, shouldn’t kitchen equipment also […]

Steve is on of my Consultancy clients. He will now be £47,454 better off in tax terms over the next 5 years with just a few simple tweaks to the ownership structure of his property portfolio. Not a bad return on two hours of Consultancy costing £400 including VAT is it? He owns 4 properties […]

There has been a lot of uniformed commentary, both on forums and in the National media, with regards to incorporation of property rental businesses and Beneficial Interest Company Trusts. This is inevitable given that landlords are so concerned with tax changes to mortgage interest relief and the popularity of tax planning solutions being promoted here […]

I was going to build my portfolio and make it a full time job being a landlord, at least that was goal. Now I don’t know and need your advice. Then the budget stopped me in my tracks. I’d love to expand my portfolio, but I’m now unsure if it will be worth the effort. […]

After 2 problem free years, my tenant has stopped paying the rent. I phoned, only to find the phone had been cut off. I emailed without reply. I went down there and it looks like the tenant has gone. The house seems empty although I am not 100% sure. I tried my key only to […]

I have a property in Kent and have been having issues with my letting agent so I decided to change agent. The new letting agent doesn’t seem better. It took them a month to send me their Terms of Business and has started to charge their fees before I could see their terms. There are […]

I created my property rental business back in March this year and currently only have 1 property in the business (I have one in my own name, but that’s irrelevant for now). I’ll be buying another 8 to 10 in the foreseeable future. I have an accountant and have followed all correct procedures etc. and […]

If you pay more than £20,000 a year in mortgage interest we DEFINITELY need to talk. We also need to talk if your mortgage interest plus your rental profits and any other taxable income including salary and/or dividends exceeds £45,000 a year. Why? Because you are going to be paying more tax, possibly A LOT MORE […]

The Institute for Fiscal Studies (IFS) report written in February 2016 titled “The Effects of Taxes and Charges on Saving Incentives in the UK” countered the arguments used by the then Chancellor George Osborne to justify the introduction of Section 24 of the finance act 2015. Paul Johnson of The Institute of Fiscal Studies said […]

One of my tenanted properties is occupied by my son and his wife. The property is conservatively valued at £250,000. He would like to buy it from my wife and me, but can get a mortgage for only £100,000. We are thinking of gifting the remaining £150,000 to them. How should we structure the ‘sale’ […]

I think it’s fair to say that the general consensus amongst mortgage professionals is that lenders still aren’t doing enough for older borrowers. At first glance you might look at most lenders looking to lend until age 80 as being quite accommodating, but as we start to work longer, live longer and need to borrow […]

My boyfriend and I have just moved to London and have found a room to rent in a flatshare. Being new to England I’m not sure of the legalities. We are dealing with a live out landlord, however he has given us a lodgers agreement to sign. From what I understand as he does not […]

I have a tenant on housing benefit that has handed in notice of 4 weeks even though she has 5 months to run on her fixed 6 months AST. If she moves out were do I stand. At the moment the council pays the benefit direct to me. Many thanks George