I am a first time buyer looking to buy a property which is a first-floor, FREEHOLD maisonette. The property was first listed by the agent as freehold and they have since removed this part of the listing (suggesting to me that it is in-fact an issue). I have downloaded the Land Registry document which shows […]

The final Housing Bill debate (stage 3) has concluded in the Scottish Parliament this evening and the Bill was passed approx 19.15 hrs. Our policy team have been monitoring carefully and we are pleased to report good news for our members. Our work was praised during the debate this afternoon by parliamentarians including Housing Minister […]

I have just read that properties held in companies within the UK are subjected to ATED (Annual Tax on Enveloped Dwellings) charge. At the following rates 2 million levy 15000 every year 1 million levy 7500 every year from 2015 500.00 levy 3500 every year from 2016 I think this is when the one single […]

The 2014 Budget saw a package of measures announced to help savers trying to build a nest egg. One of the most significant changes was the introduction of the new ISA (NISA) which comes into effect on Tuesday 1st July 2014. This will see ISA allowances both increase to £15,000 and become investable in any […]

The West Bromwich Building Society has admitted to overcharging customers upon redemption of their mortgage account. The long running historic error meant that when a mortgage was redeemed interest was charged up to the end of the month and not to the date the loan was repaid. Of the 7,699 affected customers most took out […]

The latest HMRC tax statistics show that more than one million properties in the UK has changed hands during the last year.  The monthly property statistics released yesterday shows that there were a total of 1,165,880 property transactions in the UK in the year to May 31st 2014. The 2011 Census showed there were 23.4 million homes in […]

Letscotland, the largest letting agent representative body, says Labour move is well-meaning but will have unintended consequences  Letscotland, the industry representative arm of Lettingweb, has called on MSPs to reject Labour’s proposed amendments to the Housing Bill when they are debated at Holyrood later today. Labour’s amendments propose to introduce rent controls and to change […]

I have a lodger who has been in arrears almost from the start, he now owes a months rent though he did pay a deposit of £150. He refuses to leave, saying he has nowhere else to go. I first gave him notice to leave on March 15th but he cajoled me into verbally agreeing to […]

I’m in the process of buying a property as my main residence and I’m getting jitters about the market. I’d be very interested in your views.  Dear Property118, I have a pressing question that I’d like your views on. When the market began to rise in Manchester I was ready to purchase with no onward […]

I have a offset mortgage on my home which I use to buy other properties, it is with Clydesdale Bank.  It works by paying the funds back to them when a property is mortgaged with the ability to re-draw at any time. I have just phoned to re-draw funds and have been told that as of […]

When I recently sold my flat in London the freeholders solicitor produced the management pack with bills for ground rent, insurance and service charges after I paid the fee for this. Some charges had been paid over the 3 years of ownership but there was a discrepancy of £400 as some cheques had not been […]

I have a DSS tenant who lives in a two bed house with her young daughter ( 3yrs old). She has now asked if her 18 year old brother can move in.  My questions are; Is this allowable? Will it affect her benefits? If it’s allowable would I have to add him to the tenancy […]

I currently have a one bedroom maisonette in Peterborough which I own outright and I was hoping to start a property portfolio, but due to being made redundant again recently, I have no option but to sell it and then rent. I could do with more rooms anyway, so it’s not all negative 🙂  I have decided […]

Our latest study reveals 62% of landlord notices are incorrect.  Landlord Action has carried out a study of the last 200 instructions received from landlords and letting agents that have served their own legal notices on tenants (Section 8 and Section 21). The findings reveal that 62% of these notices were deemed incorrect, which meant […]

You may well be forgiven for thinking that the current climate has been quite tough for obtaining finance.  The Financial Conduct Authority’s (FCA) recent implementation of the Mortgage Market Review, which put new restrictions on lending, has now been quickly followed by talk of the Bank of England looking to raise interest rates sooner rather than […]

My sister and I inherited the home where we grew up, modernised it, and have been letting it to a great couple for 3 years. We told them before signing the first AST that it would be our intention, one day, to sell the house (due to its distance and relatively poor yield compared to […]

Despite the Press and politicians misreporting and misunderstanding Mark Carney’s (the Governor of The Bank of England) latest comments, Virgin Money have actually reduced their Buy to Let mortgage rates for lower Loan to Values. Mr Carney did not say interest were definitely going up this year and Virgin Money are proving that point by […]

At last it seems that common sense will prevail in Westminster.  Last year the Court of Appeal ruled (in the case of Manual Rodriguez vs Superstrike Limited) that statutory periodic tenancies are indeed new tenancies . This cast a shadow over interpretation of the law and whether or not new deposit protection prescribed information needs to […]

Wanted to pick your brains on business banking.  I have 5 properties, one I live in and the other four let out. My accountant has advised me to open a business bank account. Is this the right way forward? I guess it may depend on strategy, mine is to hold the property’s long-term.  I guess […]

I am a relatively inexperienced property investor and am in the process of buying 2 HMO student rental properties to add to one other B-2-L property we have.  We have been letting out a second property for about 8 years and as we are now buying a couple more I’m interested in understanding more about how people build […]

I have a room available in an HMO, I have met an applicant, he is a nice enough guy, an Italian over here on a short term contract and he wants to pay in advance for the entire 3 months.  He wants to move in this weekend as his employers have covered his hotel until […]