The Bank of England have withdrawn their support for the Funding for Lending Scheme, but only to the household market.
The Funding for Lending Scheme (FLS) has been successful in reducing the cost of lending...
Principality Buy to Let have launched a massively improved new product range only available via brokers, but I have added them to our Buy to Let Mortgage Calculator and Sourcing system.
The Headline grabber...
Unlike the press DON’T PANIC, the economic news is good but not that good in the Bank of England Inflation report.
Reports of imminent Bank Base Rate rises next year are wildly exaggerated and unhelpful...
Shawbrook Bank are now offering a 0.25% discount on the margin or a 0.25% discount in the arrangement fee for clients who have already been party to a completed loan with them.
This makes a very refreshing...
The Consumer Price Index CPI inflation figures for October show a year on year fall to 2.2% from 2.7% in September as released today by the Office for National Statistics (ONS).
This surprise fall means...
“Should I obtain consent to let” has been a very common question over the years asked by both accidental landlords and portfolio landlords who are moving, but wish to keep their property as...
Having just updated the Buy to Let mortgage products on our own in house Buy to Let Mortgage sourcing system and calculator I thought I would give you a summary of what’s Hot or Not in the current...
The Office for National Statistics (ONS) has released 3rd quarter 2013 Gross Domestic Product GDP figures showing the economy has grown by 0.8%.
However the Bank of England remain cautious and do not predict...
Members of the South East Alliance of Landlords (SEAL) are putting together a bedsit task force to go Street to Street in Southend in a war on neighbours from hell.
Judith Codarin, secretary of SEAL said:...
The Royal Institution of Chartered Surveyors (Rics) want a 5% annual price rise cap for houses that triggers restrictions on mortgage income multipliers or maximum Loan to Value.
Although Rics did say...
Since the credit crunch it has been extremely difficult for anyone without a perfect credit history to obtain a Buy to Let mortgage. Mainstream lenders have not been interested in entertaining any mortgage...
After updating and writing the article on our Buy to Let mortgage sourcing system and calculator I thought I would give readers an update of what is still available and popular in the market.
You can find...
I have just finished updating all the products on our own in house Buy to Let Mortgage sourcing system and calculator. This takes quite a bit of time, but it is definitely worth it and I wanted share with...
Borrowers are still being frustrated by the banks’ continued reluctance to lend on development finance projects, but reality is that if you know who to ask they are actually eager to lend on profitable...
It was announced in the press that The Mortgage Works has today launched a 2.49% 2 year fixed rate, which is correct, but now I have uploaded all their product changes to our BuytoLet mortgage calculator...
The intermediary only lender Precise Mortgages has today launched the Uk’s only true Bridge to Let Product for development and refurbishment BuytoLet projects.
If you take out a Bridging loan with...
I received an email today from Shawbrook outlining their Secured BuytoLet Loans which on first glance I nearly ignored as I normally do for other second charge lenders.
On second thought though it struck...
The Leeds Building Society has cut its BuytoLet rates buy up to 0.7% on selected products whilst keeping low fixed fees and continuing to offer products at 80% Loan to Value.
Headline rates include:
3.29%...
A common question from new Landlords is why are so many BuytoLet mortgages taken out on an Interest only basis rather than Capital and Repayment.
First of all it helps to understand that a BuytoLet mortgage...
I have been attending the Bank of England quarterly seminars since 2007 and was completely flummoxed by the opening statements reporting good news for a change.
They are confidently predicting consistent...
Hi Andrew, Under current legislation if it is a private individual's main residence then it is considered an AST regardless of the contract.... Read More
"Cats Protection understands that some landlords may be reluctant to allow cats in their properties. However, research shows that pet owners stay longer in their homes, and that the vast majority of pets cause no damage[i]. Through our Purrfect Landlords campaign, we’ve been working hard to highlight the benefits of pet ownership in the rented sector to both landlords and tenants.
Pet-owning tenants face real challenges in finding suitable housing, and this is why the Renters Reform Bill contains a clause to give tenants a right to request a pet which cannot be unreasonably refused. Our own research shows as few as 9% of landlords currently advertise their properties as allowing pets. We see three cats a day handed into our care due to landlord-related reasons such as blanket ‘no pet’ policies.
Unfortunately, the Consumer Rights Act makes no explicit mention of pets. It refers to ‘unfair terms’, and whether this would include a ban on pets within a tenancy has not been tested. We believe it would be unrealistic for the average renter to have the access and means to challenge this in court. This is why the Renters Reform Bill is needed – to explicitly and clearly set out that landlords must not ban pets without good reason.
The proposed Renters Reform Bill contains a specific provision to enable landlords to require tenants to take out insurance (at their own expense) to cover any pet-related damage. We believe this provides suitable reassurance and peace of mind for landlords and removes the need for increased deposits to cover any damage.
Our website contains a wealth of information to help landlords and tenants so that pet ownership can be a benefit to both parties. For more information, please visit cats.org.uk/purrfectlandlords"... Read More
Let me see potential:
Failure to report rental income to HMRC?
Failure to report a CGT liability dependent on PPR relief?
Voter registration fraud?
Universal credit fraud?
Council tax fraud?... Read More
In essence, I agree with you that interest rates have no effect on global imported inflation and I am not a big fan of Andrew Bailey who I believe has too narrow a view of the economy.
However, this is where economics gets more complex. It is a bit like Mother Nature or an ecosystem where one change always has effects on other parts of the economy in a sort of zero-sum game.
Eg, As other central banks increase their rates we are more or less forced into supporting Sterling or face importing even more inflation just by way of exchange rates.
Also while not the cause the lid needs to be kept on domestic inflation. Literally making people worse off and discouraging employers from being able to afford big pay increases and thus fueling the imported inflation.
Then there's the bond markets and government debt/borrowing requirements etc etc.
Nothing sits in isolation which is why economics is actually considered a Social Science and is very unpredictable.... Read More
Please see Landlord Sales Agency >> https://www.property118.com/attention-all-landlords-are-you-tired-of-managing-rental-properties-and-the-hassle/
Are you ready to sell your investment and move on to other opportunities? If so, we have the solution for you.
We are a team of real estate professionals, dedicated to helping landlords sell their properties quickly and efficiently. We understand the unique challenges that come with selling rental properties, and we have the expertise to make the process as smooth and stress-free as possible:
We have a powerful database of over 30,000 private buyers and portfolio buying companies who want to buy whole portfolios straight away, and who are alerted every time we have a portfolio to sell
Because we focus on a quality fast sale, rather than a cheap fast sale, we ensure that our buy-to-let portfolios are sold not just fast, in less than 28 days, for a financially savvy 85% of the value (in some cases even higher) – which makes sense when we handle every single part of the sale for you, including liaising with all tenants, ensuring all certificates and licenses are in place, and allowing you to simply make the call to us then sit back and relax knowing we’re on it to get the whole portfolio sold before the market drops
We’re a company created by landlords for landlords, so we now exactly what you need to do to overcome all the hurdles and release you from financial stress, including rising taxes, interest rates and bills
There’s no one like us out there, and we’ve built up an unbeatable record for helping landlords which is why we’re the number one go-to company for our partners, including Property118
With our proven marketing strategies and extensive network of potential buyers, we can help you get the best return on your investment. Whether you’re looking to sell a single property or a portfolio of properties, we have the skills and experience to make it happen.... Read More
"Many thanks to Martin, Simon, David and those others for replying with your advice, opinion and kind words of support, I am very grateful.
Sorry I got my dates wrong, actually the tenant has been there for just 3 years, NOT four as I said. It was fully renovated in June 2018, so not 5 years ( have receipts to prove). The tenant has wallpapered over the walls, which will be more time consuming to remove, at a cost to me in additional labour. As I am employing some one.
She is ignoring my messages and calls to arrange the keys to be handed over on the date agreed as her departure.
I also would be curious to know of my legal position with "Implied Contract", so if any Legal Eagles out there wish to respond, or even Mark? Given the tenant received, read, signed and returned the new AST in September, (though it never arrived), would this therefore be seen as an "implied" agreement? So too she increased her rent in line with the new contract therefore accepting the new terms.
So in the absence of any other legal contract, would I be able to enforce "implied in law" ?
10:05 AM, 15th July 2024, About 2 days ago
Hi Andrew, Under current legislation if it is a private individual's main residence then it is considered an AST regardless of the contract.... Read More
12:19 PM, 31st May 2024, About 2 months ago
Reply to the comment left by LordOf TheManor at 31/05/2024 - 11:12
I am not an accountant, but from the professional websites it looks like you need to call HMRC on:
0300 200 3300... Read More
18:47 PM, 16th May 2024, About 2 months ago
Reply from Cats Protection:
"Cats Protection understands that some landlords may be reluctant to allow cats in their properties. However, research shows that pet owners stay longer in their homes, and that the vast majority of pets cause no damage[i]. Through our Purrfect Landlords campaign, we’ve been working hard to highlight the benefits of pet ownership in the rented sector to both landlords and tenants.
Pet-owning tenants face real challenges in finding suitable housing, and this is why the Renters Reform Bill contains a clause to give tenants a right to request a pet which cannot be unreasonably refused. Our own research shows as few as 9% of landlords currently advertise their properties as allowing pets. We see three cats a day handed into our care due to landlord-related reasons such as blanket ‘no pet’ policies.
Unfortunately, the Consumer Rights Act makes no explicit mention of pets. It refers to ‘unfair terms’, and whether this would include a ban on pets within a tenancy has not been tested. We believe it would be unrealistic for the average renter to have the access and means to challenge this in court. This is why the Renters Reform Bill is needed – to explicitly and clearly set out that landlords must not ban pets without good reason.
The proposed Renters Reform Bill contains a specific provision to enable landlords to require tenants to take out insurance (at their own expense) to cover any pet-related damage. We believe this provides suitable reassurance and peace of mind for landlords and removes the need for increased deposits to cover any damage.
Our website contains a wealth of information to help landlords and tenants so that pet ownership can be a benefit to both parties. For more information, please visit cats.org.uk/purrfectlandlords"... Read More
10:02 AM, 28th February 2024, About 5 months ago
Let me see potential:
Failure to report rental income to HMRC?
Failure to report a CGT liability dependent on PPR relief?
Voter registration fraud?
Universal credit fraud?
Council tax fraud?... Read More
10:50 AM, 17th January 2024, About 6 months ago
Reply to the comment left by Judith Wordsworth at 17/01/2024 - 10:39
Sorry It's a Readers Question... Read More
10:21 AM, 30th October 2023, About 9 months ago
Reply to the comment left by Shinh at 30/10/2023 - 10:17
Landlord Licensing and Defence specialise in this field and we have had excellent feedback :)... Read More
10:49 AM, 19th October 2023, About 9 months ago
Reply to the comment left by Robert M at 19/10/2023 - 10:46
Massive traffic we have upgraded to 16 servers... Read More
8:13 AM, 5th September 2023, About 10 months ago
Reply to the comment left by Michael Crofts at 04/09/2023 - 21:51
No there are unsurprisingly two Mark Smiths :)... Read More
16:46 PM, 31st August 2023, About 11 months ago
Reply to the comment left by Baz at 31/08/2023 - 15:50
No Editing Baz it just can't have saved.... Read More
21:01 PM, 21st August 2023, About 11 months ago
Reply to the comment left by NewYorkie at 21/08/2023 - 17:45
Sorry we have no record of your comment so it may not have saved... Read More
8:29 AM, 17th July 2023, About A year ago
Reply to the comment left by Patricia Wisefield at 16/07/2023 - 20:04
Hi Laura,
Please see >> https://www.property118.com/insurance-landlords/... Read More
20:24 PM, 13th July 2023, About A year ago
A lot of comments here backing up the original article
>> https://www.property118.com/are-councils-acting-illegally-when-telling-tenants-to-stay-put/
On councils telling tenants to stay put.... Read More
9:05 AM, 20th June 2023, About A year ago
Dear Helen,
I am assuming you mean a 2-year fixed term?
During a fixed term the tenant has to agree to the increase.
Also if you have a mortgage you need to check the lender is happy for a fixed term longer than a year as it affects their security.... Read More
10:45 AM, 13th June 2023, About A year ago
Dear Ian,
In essence, I agree with you that interest rates have no effect on global imported inflation and I am not a big fan of Andrew Bailey who I believe has too narrow a view of the economy.
However, this is where economics gets more complex. It is a bit like Mother Nature or an ecosystem where one change always has effects on other parts of the economy in a sort of zero-sum game.
Eg, As other central banks increase their rates we are more or less forced into supporting Sterling or face importing even more inflation just by way of exchange rates.
Also while not the cause the lid needs to be kept on domestic inflation. Literally making people worse off and discouraging employers from being able to afford big pay increases and thus fueling the imported inflation.
Then there's the bond markets and government debt/borrowing requirements etc etc.
Nothing sits in isolation which is why economics is actually considered a Social Science and is very unpredictable.... Read More
9:37 AM, 6th May 2023, About A year ago
Reply to the comment left by AP at 06/05/2023 - 08:08
Correct I have answered these before so could be misleading and taken it out of body text.... Read More
8:08 AM, 8th April 2023, About A year ago
Reply to the comment left by Shakeel Ahmad at 08/04/2023 - 06:48
Contact can be made through membership profiles if the member has the contact form set up.... Read More
7:39 AM, 25th February 2023, About A year ago
Reply to the comment left by Gone Fishing at 24/02/2023 - 16:51
Amended without making the first sentence an overly long explanation of section 24 which is explained hundreds of times already on P118... Read More
8:56 AM, 21st February 2023, About A year ago
Reply to the comment left by SimonP at 21/02/2023 - 07:56
Hi Simon,
Please see Landlord Sales Agency >> https://www.property118.com/attention-all-landlords-are-you-tired-of-managing-rental-properties-and-the-hassle/
Are you ready to sell your investment and move on to other opportunities? If so, we have the solution for you.
We are a team of real estate professionals, dedicated to helping landlords sell their properties quickly and efficiently. We understand the unique challenges that come with selling rental properties, and we have the expertise to make the process as smooth and stress-free as possible:
We have a powerful database of over 30,000 private buyers and portfolio buying companies who want to buy whole portfolios straight away, and who are alerted every time we have a portfolio to sell
Because we focus on a quality fast sale, rather than a cheap fast sale, we ensure that our buy-to-let portfolios are sold not just fast, in less than 28 days, for a financially savvy 85% of the value (in some cases even higher) – which makes sense when we handle every single part of the sale for you, including liaising with all tenants, ensuring all certificates and licenses are in place, and allowing you to simply make the call to us then sit back and relax knowing we’re on it to get the whole portfolio sold before the market drops
We’re a company created by landlords for landlords, so we now exactly what you need to do to overcome all the hurdles and release you from financial stress, including rising taxes, interest rates and bills
There’s no one like us out there, and we’ve built up an unbeatable record for helping landlords which is why we’re the number one go-to company for our partners, including Property118
With our proven marketing strategies and extensive network of potential buyers, we can help you get the best return on your investment. Whether you’re looking to sell a single property or a portfolio of properties, we have the skills and experience to make it happen.... Read More
14:42 PM, 20th February 2023, About A year ago
Reply to the comment left by Rebecca Anelay at 19/02/2023 - 14:38
Dear Rebecca,
Please see our main Tax Planning page and Download our Ultimate Guide >> https://www.property118.com/tax/
I would then strongly recommend you book a consultation with Property118... Read More
9:28 AM, 15th February 2023, About A year ago
On behalf of BB:
"Many thanks to Martin, Simon, David and those others for replying with your advice, opinion and kind words of support, I am very grateful.
Sorry I got my dates wrong, actually the tenant has been there for just 3 years, NOT four as I said. It was fully renovated in June 2018, so not 5 years ( have receipts to prove). The tenant has wallpapered over the walls, which will be more time consuming to remove, at a cost to me in additional labour. As I am employing some one.
She is ignoring my messages and calls to arrange the keys to be handed over on the date agreed as her departure.
I also would be curious to know of my legal position with "Implied Contract", so if any Legal Eagles out there wish to respond, or even Mark? Given the tenant received, read, signed and returned the new AST in September, (though it never arrived), would this therefore be seen as an "implied" agreement? So too she increased her rent in line with the new contract therefore accepting the new terms.
So in the absence of any other legal contract, would I be able to enforce "implied in law" ?
Thanks again,
BB"... Read More