I had a question concerning this from our reader Dan today, but many Buy to Let investors I talk to are unprepared when looking to purchase a flat about considering what lenders will take as suitable security. Banks often have a surprisingly vast array of criteria that needs to be considered when lending.
I have compiled a list of questions a lender will ask and factors to consider when purchasing a flat. Although fairly in depth, I would not consider this exhaustive as after 15 years I know it is still possible to run across circumstances not seen before. Continue reading Lending Criteria to Consider when Purchasing a Buy to Let Flat
In the West Midlands we are addressing the issue of educating the young to understand their future housing options, financial obligations and choices. I work on behalf of NLA with a consortium called HOMESTAMP (www.homestamp.com) and we are just coming to the end of a major project to get a module into the national curriculum for 14-16 year olds. Under the subject of Financial Management this module will help to break the cycle for many young people to prevent them becoming the 4th generation of their family to base their lifestyle on “benefits will provide”. This will be a reality check for those who may believe that becoming pregnant will ensure them a “nice little flat off the council”. Continue reading Maslow’s Theory Applied to Landlords and Tenants
Landlords are warned to check out that their letting agents protect their money as a new scheme helping tenants reclaim unfair fees threatens make some firms go bust.
Housing charity Shelter Scotland is leading the campaign against rip-off letting agents – and has helped more than 100 tenants start claims for the repayment of thousands of pounds of illegal charges. Continue reading Letting agents may go bust as illegal fees campaign takes off
A few of you have talked about communication on here before, but today I wanted to talk about communication issues and the problems they can cause.
I had a landlord friend once who swore blind that the more effective form of communication he had with his tenants was on the phone. He felt it added a more personal touch to their relationship and that they respected him more for it. Continue reading If it isn’t Written Down, it Didn’t Happen – The Evidence Is In The Communication
Health and safety inspectors are cracking down on landlords who fail to manage building projects on their rental properties – even if they employ professional builders to do the work.
The Health and Safety Executive (HSE) is warning that landlords face prosecution if they flout a little known construction regulation. Continue reading Landlord repairs targeted in health and safety crackdown
I recently had a long online discussion with Mary Latham, in which we both tried to get to the bottom of the legal stuff around whether or not a managing agent is allowed to sign a Section 21 notice.
We didn’t end up with a definitive conclusion. I will write a separate piece on my thoughts on the legal stuff in a while but I wanted to write about something that came up as an adjunct to what we were talking about. Whether people in my line of work, who defend possession actions brought by landlords, will always try to buy time for the tenant in the face of all reasonableness. Continue reading Don’t Shoot the Messenger #10
More landlords are expanding than reducing their portfolios in the current climate, but selling needs just as much care. And selling your home in today’s financial climate is no small feat. With so much competition even the smallest detail can mean the difference between months of waiting and getting on with your move. Often the updates required to tip the scales are relatively small in the great scheme of DIY, which is why Yale front doors UK have outlined their top 5 tips to ensuring you get as quick a sale as possible. Continue reading Quick walk-up DIY wins that will help you sell your property
Imagine the scenario. You are being threatened or assaulted in the street, your home has been burgled, your car has been stolen. Who ya gonna call? The cops of course, because they know their stuff, act appropriately and sort it out for you right? They ARE the law.
But what happens when the actions of the Police in assisting you actually puts you in the dock with criminal allegations being made against you? What do you do when you follow the advice of the law professionals and find yourself in court? Continue reading Don’t Shoot the Messenger #9 – How the Police can land you in hot water
Letting agents are urging long-distance landlords to make sure they follow six basic renting rules to avoid hassle with tenants.
The tips follow a survey by the Association of Residential Letting Agents (ARLA) which revealed up to two-thirds of property investors letting homes in London live outside the capital. Continue reading Renting rules for long-distance landlords
Headlines screaming out about rising mortgage interest rates are filling the news, so some facts and figures about the buy to let and home loans market should shine a light on what’s really happening.
Here is some information explaining some frequently asked questions about mortgage interest rates compiled with the help of the Council of Mortgage lenders, the trade body for all the UK’s leading bank and building society mortgage lenders: Continue reading Mortgage interest rate FAQ