Tag Archives: Law Society

Rent2rent contracts Buy to Let News, Landlord News, Latest Articles, Property Market News, Property News

We are pleased to confirm that a sufficient number of pre-orders for rent2rent contract templates have now been received. For those who have already placed an order, the contracts, which will be professionally drafted by Justin Selig, will be sent to you on or before the end of this month (July 2013). Justin is a practising solicitor specialising in property and contract law. His firm “The Law Department” is registered with The Law Society. Justin is also the solicitor acting for borrowers affected by the Bank of Ireland decision to amend interest rate differentials on some of their tracker rate mortgages. For more details please click here.

Order the "Rent to Rent" lease contract template.

  • Price: £ 97.00
  • £ 0.00
  • American Express
    Discover
    MasterCard
    Visa
     

rent2rent contracts


Class Action Litigation BOI + Bristol and West Mortgages Advice, Buy to Let News, Landlord News, Latest Articles, Legal, Property Investment News, Property Market News, Property News

Class Action Litigation BOI and Bristol and West Mortgages Increase DifferentialAs you have probably heard, Bank of Ireland (BOI) and Bristol and West have advised borrowers who took tracker rate mortgages with them prior to 31st October 2004 that they are increasing their margin to 4.49% over bank base rate.

Many landlords are concerned that if Bank of Ireland are allowed to get away with these changes other mortgage lenders will follow their lead. Continue reading Class Action Litigation BOI + Bristol and West Mortgages


Bank of Ireland increase differential on tracker rates Landlord News, Latest Articles, Property News, UK Property Forum for Buy to Let Landlords

The story of the Bank of Ireland decision to increase to the differential (interest rate margin) on  tracker mortgages started on this forum when a professional landlord contacted Property118 within minutes of a letter from Bank of Ireland landing on his door mat. What ensued was outrage from landlords and affected residential mortgage borrowers. The story was quickly picked up by the National Media as it wasn’t just the 13,500 affected borrowers who were worried.

Will this set a precedent for other mortgage lenders to follow?

Property118 reacted by using funds donated to The GOOD Landlords Campaign to underwrite the cost of a barristers opinion on the legality of the Bank of Ireland’s actions. The remainder of this thread,one of the most read and most commented threads of all time on Property118, continues to tell the story as it unfolds.

If you want to skip the story and cut to the chase simply CLICK HERE

Of the 13,500 affected borrowers, 1,200 have had the decision reversed by Bank of Ireland. With additional support and pressure we believe all affected borrowers can and will see justice done.

The deadline for submission of instructions has now expired. However, it may still be possible to join the representative action subject to paying Court fees and an additional cost to cover associated administration. For details please email : carla@cotswoldbarristers.co.uk

___________________________________________

Readers QuestionsLee, a professional Landlord asks, “help! I have just received a letter from the Bank of Ireland stating they want to increase the differential on my tracker rates.

I have 12 mortgages with the Bank of Ireland previously Bristol and West. I have been on a base rate tracker of 1.75% above base, but now Bank of Ireland are using some fine print claiming they have to recapitalise and saying the ‘new differential will be 4.49%.

How can I fight back?”

The original policy wording seems to be:

6 INTEREST

Charging interest at a tracker rate

(j) Unless we change the differential (if any) under condition 6 (n), we will not change the tracker rate unless the base rate changes.

(m) in condition 6 (n):
– a “positive differential” means a percentage which we add to the base rate to arrive at the tracker rate; and a “negative differential” means a percentage which we subtract from the base rate to arrive at the tracker rate.

(n) We may reduce a positive differential or increase a negative differential at our discretion by giving you not less than seven days written notice. This means that we can change the differential in a way that is favourable to you.

The above seems to indicate that they can reduce the rate in my favour, but not give them the right to increase it. Am I correct?


You can remortage within six months! Buy to Let News, Commercial Finance, Landlord News, Latest Articles, Mortgage News, Property Investment News, Property News, UK Property Forum for Buy to Let Landlords

It is possible to remortage within six months of purchase, even on a buy to let property, I promise you! Forget everything you have heard about “the CML’s six month rule”, no such rule exists! 

The legend of the “CML’s six month rule” for remortgaging has been bandied around forums for at least five years now but I can assure you that no such rules exists – allow me to explain. You can remortage within six months! Continue reading You can remortage within six months!


Struck-off solicitor branded slum landlord for house of filth Buy to Let News, Cautionary Tales, Latest Articles, Lettings & Management, Property Maintenance

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 rules and safety regulations. Continue reading Struck-off solicitor branded slum landlord for house of filth


Property hijacks prompt fraud alert from the FSA Buy to Let News, Cautionary Tales, Latest Articles, Lettings & Management, Mortgage News, Property Market News

Financial watchdog is alerting landlords to watch out for property hijacking by fraudsters and crooked mortgage brokers.

The Financial Services Authority has circulated the warning to all small financial advice firms in the UK to pass on to clients. Continue reading Property hijacks prompt fraud alert from the FSA


Hidden Costs That Make Buy To Let So Expensive Latest Articles, Mortgage News

The cost of buying a rental home is set to rise again as banks and building societies tighten their grip on hidden fees

New rules culling the number of property professionals that can act for buyers mean choice of lawyers and valuers is limited. Continue reading Hidden Costs That Make Buy To Let So Expensive


Showcasing Nickit & Leggett Business Lawyers Norwich Latest Articles

Nicket and Leggett Business Lawyers Norwich

If you type Business Lawyers Norwich into Google this spoof profile will appear on page one.  

As you have probably guessed, Norwich based Law firm Nickit & Leggett Business Lawyers doesn’t really exist!

I created this web-page purely to showcase my internet marketing knowledge to businesses as I’m looking promote the sale of my training notes from a course I developed called “SEO Made Easy – marketing your business online”.

Many people in business believe that ranking highly in search engines is the “holy grail” of internet marketing. Having taken my former start up business to a ranking of 38 in The Times Profit Track 100 in 2008 I can assure you that search engine optimisation really is one of the vital ingredients. This page is concrete evidence that I know how to get web-pages to rank highly in search engines.

Chances are, you only found this page because you are a business lawyer yourself or you were were intrigued by something I sent to you, or indeed which you read or heard about elsewhere. Intrigue and curiosity are incredibly powerful motivators but do you use this to your advantage?

When I retired from my former business in 2009 I was just 41 years of age. I needed a completely different challenge and accepted a consultancy position within a well established provincial law firm. I helped them to launch an international sports law and football agency which continues to go from strength to strength. That project completed some time ago and I have since decided to sell the notes I created for the training sessions with these lawyers.

I am also the founder of the Property118 website which you are viewing at the moment. It started as a hobby yet it now serves over five million user sessions every year ad provides me with a substantial income from referral fees.

Nickett and Leggett Business Lawyers Norwich is not regulated by the Law Society. Continue reading Showcasing Nickit & Leggett Business Lawyers Norwich

Buy to let lenders tighten up on mortgage fraud Latest Articles

Buy to let mortgage lenders are barring legal advisors who have not signed up to the new Conveyancing Quality Scheme (CQS) from acting for them.

More than 700 legal firms have joined the CQS scheme – and mortgage lenders are making membership a condition of acting for them for every buy to let purchase. Continue reading Buy to let lenders tighten up on mortgage fraud


Property Forum and News website where UK landlords and letting agents share best practice