Tag Archives: CHL

Financial help with living costs whilst building up a property business Latest Articles, UK Property Forum for Buy to Let Landlords

I resigned from my job a few months ago to concentrate on renovating property with my partner. Our existing handful of rental properties generate enough income to pay their mortgages plus our residential mortgage. My partner also runs an online retail business but is finding it hard to cover all of our living costs. Financial help with living costs whilst building up a property business

I have looked at various means of lowering our living costs, such as renting out our residential property, or selling it to move to a smaller one. However, with no salary, and even with our rental income and my partner’s income from his online business, we would not even be able to get a residential mortgage on a property half the value of one of our rental houses. If we sold one of our rental properties we would lose an income that helps to pay our residential mortgage, so would be in a worse situation after we had used up the net income from any sale.

I have looked at claiming income support to help supplement our income, but it seems that with the net worth that we have from our houses, thatI would be unable to claim benefits. My question is does anyone know if there is a benefit or suchlike that I might be eligible for (which does not require paying back), to help with living costs whilst developing a property business – where the capital from property precludes claiming benefit, but yet the whole poiint of the business is to build up the capital – yet the business does not yet generate enough income to be completely self-sufficient on.

Many thanks for any thoughts

Anonymous


Rightmove doubles 2013 forecast for house prices Latest Articles, Property Market News, Property News

Rightmove doubles 2013 forecast for house prices as it reports ‘aggregation of marginal gains’ fueling a predicted 4.8% annual growth.

There have been seven monthly rises on the trot and two consecutive record months as the price of newly marketed property increases by 0.3% (+£860) in July boosting year-on-year growth to 4.8% (+£11,561)

Rightmove’s 2013 forecast has been increased from 2% to 4% as latest increases fuel recovery of the housing market.

There are signs finally of a broader-based recovery with all regions up year-on-year for the first time in nearly three years contributing to the positive national picture. Confidence in the market is said to be on the up with the proportion of people expecting average prices to be higher a year from now doubling compared to this time last year, now at 62% from 31%.

Rightmove reports an increase in movers and predicts more to come as property transactions are already up 5% year-to-date and lead indicators suggest more in the pipeline. Email enquiries to agents and developers are up 18% on 2012, new sellers up 5%, mortgage approvals up 6%.

It has already been reported that Surveyors are struggling to cope with the increase in demand with waiting lists for surveys pushing up into weeks. This is however also due to the number of Surveyors who have left the market since the Credit Crunch.

Rightmove along with many financial analysts predict a positive borrowing window as markets do not expect a base rate rise for three years. Funding for Lending competition is easing rates and availability of finance, plus the ‘brick-shortage success’ of Help to Buy!


Christine Price of Chelmsford GOOD Landlords Campaign Sponsors

The GOOD Landlords CampaignChristine Price of Chelmsford

I am a Landlord and currently let out a 10th floor studio flat in Salford, a 2 bedroom ground floor flat in Hull and a 2 bedroom ground floor flat in Bletchley (Milton Keynes), using letting agents local for the properties.

The studio flat is fully furnished in a block with 24 hour concierge service. The other two flats, in low-rise blocks, are let unfurnished, with the option of being let furnished.

I have been a member of the National Landlords Association (NLA) since 2006 and live in Chelmsford in Essex.

Continue reading Christine Price of Chelmsford


Oven Cleaning is one of the biggest issues in a rented property Landlord News, Latest Articles, Property News

ovenOven cleaning is one of the biggest issues and this article is to help Landlords present this particular item in their property in its best condition for an inventory inspection and help tenants bring an oven back to its initial clean state when leaving the accommodation.

Let’s put it into perspective, the cleanliness of a property makes up 51% of tenancy deposit disputes and some of which can be attributed to people forgetting or missing an item to be cleaned, another is that differing people have differing ideas of what is clean. Let me give you an idea how we all think the same but differently.

Picture a cat in your head,
How big is it?
What is it doing?
What colour is it?

While we have all just seen a cat in our minds eye, some cats will be small, medium, large. It might be sleeping, sitting, jumping around and any colour you want. Nevertheless, it is still a cat. The same is true for cleaning, someone might have actually worked very hard to clean a property but yet it is not you to your high standard. Maybe they just don’t know how to do the task correctly and yes some are just simply too lazy to do it. It is a rare situation that we know which of these statements is true for a given household and it might be a combination of all of these factors.

There is a continuum for the level of cleanliness form: never been cleaned, attempted but still dirty, cleaned to an average household standard up to what we call in the inventory profession “cleaned to a high domestic standard” and “cleaned to a professional standard” the best of course being a professional clean.

Here is a list of key phrases I use when describing the cleanliness of an oven from best to worst:
1. As New
2. Cleaned to a professional standard
3. Cleaned to a high domestic standard
4. Clean to a domestic standard
5. Partly cleaned
6. Needs finished clean
7. Not clean.

I must add that fortunately, most inspection I do I only have to decide if the cooker/oven has been cleaned to a domestic or professional standard.

If you look at the picture below, this is an oven an oven cleaned to a high standard but its condition is excluded from our discussion on cleaning. This is a worn oven and unless you have prior information, to this picture, it is not possible to say if this is through damage or due to age and fair wear and tear.

 

This oven is clean but through age and use, it is marked and even rusted at the sides.

Then we have the oven that is clean to a high domestic standard that is to say it is grease free but there are still baked on marks.

 

You should also watch out for chemical residue, many of the excellent oven cleaning products on the market leave residue marks on surfaces if you don’t wash off the product fully, which technically means the oven is still partially dirty, need a finish clean.

There are several very good cleaning products on the market. But there is one that I prefer to use it gets the job done and is fairly easy to use and normally takes a clean to domestic standard to a professional clean level. It is a strong chemical so you have to be careful and follow the manufactures instructions it is “Oven Pride”. Please note that I don’t have shares in the company and I am not getting any benefit for mentioning this product my motivation for mentioning it is to   help anyone who reads this article in particular Landlords and Tenants.

About the author of this Post

Sydney Lewis A+ Inventories

Syd Lewis has been a private landlord for over 20 years, he is an accredited member of the National Landlords Association (NLA), Residential Landlords Association (RLA), Sponsor of the Good Landlords Campaign, a full member of the Association of Professional Inventory Providers (APIP) and a Certified Electrical Portable Appliance Tester (NIPIT). He is passionate about what he does which is providing residential inventory services, PAT testing and marketing floor plans for Agents, Landlords and Tenants. Inventories start from £56.00 to find out more see:-


Some London streets really are paved with gold House Prices, Landlord News, Latest Articles, Property News

Plush Kensington and Chelsea is the streets ahead as the most expensive place to buy a home in Britain – with average house prices of nearly £2 million.

Buying a house in Kensington costs around £1.87 million and is £90,850 (5%) up on last year’s prices, according to online property portal Zoopla. Continue reading Some London streets really are paved with gold


Third of Landlords Ready to Buy More Rental Homes Buy to Let News, Latest Articles, Lettings & Management, Property Investment News

Nearly a third of landlords have plans to buy more rental property this year, according to specialist buy to let lender CHL Mortgages.

Landlord confidence is running high with just 1 in 10 aiming to sell property or leave buy to let, with 31% set to expand their portfolios, while the rest continue with business as usual. Continue reading Third of Landlords Ready to Buy More Rental Homes


Property118.com Website Awards 2012 Merseyside Website Awards 2012

We are delighted to announce the Property118.com website awards for Merseyside.

Judging decisions were based on a combination of powerful analysis algorithms and human experience. Click here for further information about the awards and the judging process.

View the winners from other counties by clicking here.

So without further ado, the winners are:-

For the Accountant Category
Cobham Murphie
116 Duke Street, Liverpool, L1 5JW

For the Estate Agents Category
Bakewell & Horner
93-95 Wallasey Road, Wallasey, CH44 2AQ

For the Gas and Heating Engineers Category
Merseyside Central Heating Ltd
28 Hamilton Square, Birkenhead, CH41 6LT

For the Letting Agent Category
Midas Ltd
215 Eaton Road, West Derby, Liverpool, L12 2AG

For the Mortgage/Finance Broker Category
Destiny Mortgage Services Ltd
10 Leyland Street, Prescot, L34 5QP


Handling a property tax compliance investigation or “compliance check”. Our specialist tax and accountancy partner provides useful insight and guidance Latest Articles, Tax & Accountancy

More and more investors and landlords who have not owned up about their property profits are under scrutiny from the taxman.

The first indication you are under investigation for unpaid tax is often a benign ‘compliance check’ letter through the door. Continue reading Handling a property tax compliance investigation or “compliance check”. Our specialist tax and accountancy partner provides useful insight and guidance


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