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...
The Bank of England Funding for Lending scheme will now allow Small and Medium sized enterpises (SMEs) to lend the money available on to property investors.
The Funding for lending scheme has been extended...
Members of The National Association of Commercial Finance Brokers (NACFB) have reported a steady increase in Holiday lets being purchased using commercial finance along with the number of lenders and products...
Martin Wheatley the current head of conduct at the Financial Services Authority (FSA) has been strongly criticised by the Treasury Select Committee (TSC) for the FSA’s response to the Bank of Ireland...
New commercial finance facilities are offering the option to switch bridging finance to a BuytoLet mortgage within the normal 6 months period other lenders require you to wait.
Borrowers are now able...
The 2013 Budget is hoped to boost the housing market and construction industry. Yesterday Chancellor George Osborne announced new plans to help people buy their first homes homes with the Help To Buy Scheme...
BM Solutions relaxes its BuytoLet lending criteria to allow landlords to rent to students and benefit claimants
It was recently reported that BM Solutions was looking at changes to its BuytoLet underwriting...
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.
We are working with a range of dedicated Development finance lenders for our readers to get the best criteria terms and conditions available in the current market.
The Lenders are all long established...
Paul Tucker the deputy Bank of England governor has told the Treasury Committee that negative interest rates should be considered.
A negative interest rate on bank reserves held at the Bank of England...
Our preferred commercial finance broker Cliff Verrill reports that Shawbrook Bank are driven by common sense not bureaucracy looking for ways of saying yes to clients and not the often received “computer...
Shawbrook Bank specialists in commercial and BTL finance have reduced their arrangement fees to 1.70% a saving of 0.80%, and their rates by up to 0.60% across their term product range.
Big advantages Shawbrook...
The Bridging Loans market has become popular with many new niche lenders competing with the big banks for your business. This competition can only be good for price, customer service and lending criteria.
The Loan Directory is a regular feature publishing examples of the most competitive and frequently used products in the commercial market to help readers identify possible funding facilities for their...
The Loan Directory is a regular feature publishing examples of the most competitive and frequently used products in the commercial market to help readers identify possible funding facilities for their...
My business partner and Founder of Property118, Mark Alexander, recently gave a 20 minute keynote speech to a group of start up technology businesses based in Norfolk.
In this video (below) Mark explains...
The appointment of Mark Carney as the new Bank of England Governor is the first time in the Bank’s 318 year history that a foreign citizen has taken the position, and the first time that the role...
The Bank of England Inflation Report November 2012 shows the growth of GDP for this quarter at 1% behaving entirely as predicted. The 1% growth is made up from a 0.5% bounce back from last quarter’s...
The BuytoLet Mortgage Calculator has recently had every product and lender listed checked and updated. From my observations doing this on a regular basis I can tell which direction the BuytoLet mortgage...
Mark and I have worked together since 2003 and have very rarely fundamentally disagreed on a subject, but the Green Deal has split us down the middle with myself being very pro and Mark against. I am writing...
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