Page 901 – Property118

More surveys confirm North/South property divide

6th June 2012

Buy to let rents slipped back 4.3% to an average £919 a month in May, according to letting agents haart. Average rents across the country fell, but slightly increased across the UK when excluding London – by around 0.7% to an average £791.

Sex spy landlord secretly filmed couples in bed

6th June 2012

A landlord addicted to porn secretly watched couples having sex with a spy camera secreted in an alarm clock on a bedside table in a holiday cottage bedroom. A judge told Jonathan Waugh, 52, that he was disgusting and depraved, when jailing him for a year at York Crown Court.

Development Finance is still supported in the current market

6th June 2012

We are witnessing a significant rise in the incidence of some banks refusal to offer new or extended terms to development loan facilities. In extreme cases, some banks are demanding early loan redemption. This often leaves the borrower with a major headache in a market where commercial lending is restricted and competitive alternatives are not […]

The quiet revolution among letting agents

5th June 2012

I have a suit but I hardly ever wear it. It’s only a cheap one, £100 from Zara’s a couple of years back, I use it for court sometimes. Some people were born to wear them; they carry them off, think George Clooney, Cary Grant. But do you know what I look like in a […]

Smug landlords win seal of approval from tenants

1st June 2012

Landlords are not the heartless profit seekers exploiting vulnerable tenants in shoddy housing that they are often purported to be, according to new research. In fact, most tenants are more than pleased with their rented accommodation – with almost 8 out of 10 telling the National Landlords Association (NLA) that they are satisfied with their […]

Landlords face compulsory nationwide deposit protection

1st June 2012

The countdown to nationwide tenant deposit protection is on as Scotland joins the scheme already running in England and Wales from July 2. The Scottish Government has approved two more protection schemes, giving landlords and letting agents the choice of three.

DPG and Zoopla merger finally completes

1st June 2012

The merger of Zoopla and Digital Property Group has been officially announced, finally; the deal was struck last October and passed by the Office of Trading Standards in April. The move is seen as an attempt to break the stranglehold Rightmove has on the online property portals, with Digital Property Group have been buying up […]

What’s Hot this week on the Property Tribes Forum

1st June 2012

There are so many valuable discussions for Landlords going on over on Property Tribes this week I thought I would reproduce their latest newsletter entitled:  PropERty Tribes celebrates 60 years of HRH, which also lists the top 20 discussions of the week with links to them. The average property price in the UK is 86 times […]

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Buy to Let mortgage market and products update

1st June 2012

The good news is that confidence and competition in the buy to let market has stood firm in the face of other economic concerns such as the problems in Europe. The Mortgage Works, who are one of the leading buy to let lenders in terms of market share and product range, have extended all their […]

HMO landlord fined £5,500 for letting filthy home

31st May 2012

The landlord of a filthy and overcrowded shared house was fined £5,500 after admitting 23 licensing and management offences to magistrates. Jan Assakzai 42, of Friars Road, East Ham, London, picked up the fine at Thames Magistrates Court and was also ordered to pay £300 legal costs and a £15 victim surcharge.

Government handout of £10k per property for landlords

31st May 2012

As a landlord you can be forgiven for thinking that every bit of news from the government concerning the lettings sector is bad for the landlord – A new set of obligations which comes with the obligatory application process. Creating paper, jobs and VAT income for the government! Enough of my cynicism 🙂 So this […]

HMRC targets landlord tax cheats in property crack down

31st May 2012

Landlords who have failed to pay tax on the sale or buy to let rents face extra scrutiny from a new HM Revenue & Customs tax force. A team of investigators covering East Anglia, London, Leeds, York, Leicester, Nottingham, Lincoln, Durham and Sunderland is seeking to recover more than £17 million from tax dodgers. They […]

Lease extension – how to calculate the premium

31st May 2012

Most lenders insist that a term of at least 35 years must exist on a lease in addition to the required mortgage term. Therefore, if a borrower requests a 25 year mortgage term the remaining lease term must be at least 60 years. If the remaining lease term is shorter, the lease will need to […]

Rent Costs Buy to Let Tenants More Than Half their Pay

30th May 2012

Rent costs nearly a third of buy to let tenants 50% or more of their take home pay, according to research by online property portal Rightmove. While paying private rents averages 38% of take home pay for all tenants.

Struck-off solicitor branded slum landlord for house of filth

30th May 2012

A struck-off solicitor and an estate agent who managed a house shared by 12 tenants who lived in filthy conditions have been branded slum landlords by their local council. Both picked up rents from the tenants for an absent owner in Nigeria but failed to run the house in multiple occupation according to strict licensing […]

Top 5 signposts to a holiday let with year round occupancy potential

30th May 2012

Down here in sunny East Sussex, certain aspects of property investment are thriving, despite the economic downturn. Holiday lets are enjoying increased occupancy, spreading far beyond the “peak” season, and out into the shoulder months, producing some significant cash flow for investors.

House price crash triggers tax windfall on inherited homes

29th May 2012

Falling house prices has meant up to £90 million has been overpaid in inheritance tax by families and friends who have been left a home in a will. Insurance firm NFU Mutual reckons the tax is reclaimable under a special rule called sale of land relief.

Cheapest homes in England sell for just £8,000

29th May 2012

The cheapest homes in England and Wales were sold for just £8,000 in April, according to the latest Land Registry data. Two homes sold for £8,000 out of more than 51,000 that changed hands.

What can Bridging finance be used for?

29th May 2012

Bridging finance has quite distinct and individual features offering some very useful advantages over other types of secured funding. The terms are flexible from one month upwards, which allows you to structure the loan to your requirements, and  can often be arranged quickly with an agreement possible within 2 hours and the funds available in one or two weeks if the circumstances […]

Letting agents slammed as fees go through the roof

28th May 2012

Letting agents are charging fees of up to £600 to tenants who want to privately rent a home in Wales, says housing charity Shelter. Shelter claims letting agents mask the true cost of letting a property and wants the Welsh Assembly Government (WAG) to introduce new rules to make the cost of renting clearer to […]