A couple of weeks ago I started a discussion thread on Property Tribes about the trials and tribulations of dealing with trades in terms of property maintenance. It started out as a bit of a rant after my long-standing builder and I “had words”. Actually, he came over after sensing that I’d got my knickers in a twist about lack of visible progress on starting some roofing work before the winter and bravely sat in my kitchen whilst I launched a stiff accusation of “it’s not bloody rocket science – I just want a start date, quote and timescale. I’m not asking you to perform brain surgery and if I knew anything about roofs or wasn’t scared of scaffolding, I’d do it myself!” Continue reading Maintenance Men – Can’t Live With Them, Can’t Live Without Them!
£3 portfolio sale called into question
The sale of a £2.7 million property portfolio for just £3 by a council to a property development company is under investigation.
Blackpool Council leader Simon Blackburn has pledged to go public with the results of an independent scrutiny of the deal.
The council put the portfolio together by buying up failing hotels and bed-and-breakfasts in the seaside town with plans to refurbish them as social housing.
The plan fell through when the costs of renovating each property were put at an average £130,000 which was money the council does not have. Continue reading £2.7 million property portfolio sold for £3 by a council
Council spends £25,000 on repairing death-trap HMO
A death-trap letting property seized by a council because the tenants lived in such appalling conditions has cost around £25,000 to repair.
The house in multiple occupation (HMO) in Peterborough had blocked drains, uncapped gas pipes and a bypassed electric meter. Continue reading Latest property horror stories
The British Property Federation has issued a word of caution over the distribution of the land set to be sold off by the Government.
Housing minister Grant Shapps announced yesterday that thousands of acres of land will be sold off to create 100,000 new houses by 2015.
Liz Peace, BPF’s chief executive backs the plans but said “Government must give consideration to who has the resources available to get on and build these homes, particularly while banks are still nervous about lending.” Continue reading The BPF calls for land to be sold to the right people
Housing minister Grant Shapps has signalled a new homes building bonanza by kicking off plans to hand over thousands of acres of public land to house builders.
The grand scheme lays the foundations for building 100,000 new homes for private and social housing by 2015 as the government links up with builders to ease the homes crisis. Continue reading Building bonanza sparked by plan for 100,000 homes
Property investors could profit from government plans to encourage development of empty offices in to new housing.
Communities Secretary Eric Pickles has announced proposals to remove planning restrictions to stimulate the developments – and the move is a good fit with councils seeking to dilute concentrations of shared houses in residential areas. Continue reading Commercial conversions boost for HMO developers
Big student housing developments are still continuing apace despite finance problems squeezing the rest of the residential property investment market. Continue reading Corporate property investors pump cash in to student housing
Despite more than a century of social change aimed at redistributing the wealth of the nation more fairly, most of Britain is still in the hands of the aristocracy.
Only 0.6% of the people – 36,000 individuals – own 50% of the land and show no sign they are ready to relinquish their grip. Continue reading Revealed! Who Really Owns Britain
We speak to many property developers who tell us that they are not doing any new developments now, “because the economy is weak and the margins charged by funders are too high”.
Banks in the commercial and corporate sectors are paying low rates of interest on deposits which are way below the rate of inflation. Inflation remained at 3.1% in August, well above the governments 2% target. Continue reading Don’t Wait……..Develop it Now!! Say our partners specialising in property development finance
The most popular articles in Landlord News are undoubtedly those that relate to tax and accountancy advice.
Steve Sims, author of the best selling book ‘Understanding and Paying Less Property Tax for Dummies’, runs our specialist tax and accountancy service.
Steve also writes for tax and business magazines and web sites and was recently invited to talk about changes in furnished holiday let tax rules on BBC Radio 4’s You and Yours program. Continue reading Spotlight on our Tax and Accountancy partners. Landlord News articles about Tax and accountancy are the best read. In this issue we provide more information on the levels of assistance our partners can provide
In this article I look at the differences between owning property as joint tenants, tenants in common or as individuals. I also explain why portfolio landlords who are married couples should own half the properties each in single names and how to deal with property ownership which is not structured for optimal tax purposes right now. Continue reading Is your property portfolio ownership structure optimised to enable you to pay the minimum amount of CGT, income tax and IHT?
Property investors and small businesses are finding problems borrowing as banks and finance institutions have slashed lending by about £13 billion.
The latest annual lending survey by the National Association of Commercial Finance Brokers (NACFB) shows about £20 billion a year was available for businesses to borrow in the mid-2000s and this has slipped by around 66% to the current £7 billion a year. Continue reading Don’t bank on the high street lenders to finance your business. The Chief Executive of the National Association of Commercial Finance Brokers speaks out following a survey of members regarding the true state of the market