If you are angry about being ‘ripped off’ and being left out of pocket then you probably don’t relish the thought of spending money on solicitors or grovelling to disinterested authorities...
Andrew Haldane. the Chief Economist for the Bank of England, has caused concern in markets today with his pessimistic outlook on the world economy and how it could slow the UK’s recovery. Sterling...
I have been updating the Quote Engine and Calculator with the latest products for readers, and thought it would be useful to give an update on niche areas of the Buy to Let Market, starting with higher...
The Bank of England, under its Prudential Regulation Authority (PRA), has proposed that by July 2015 a maximum of £1million in savings with an individual bank will be protected for a term of six months.
Bridgebank capital are a Bridging loan lender fully regulated by the FCA and uniquely advertise they will lend against the open market value (OMV) of a property rather than the lower of purchase price...
The Government has changed its mind about regulating Accidental Landlord Buy to Let mortgages in a decision to now comply with the EU mortgage credit directive being brought into law March 2016.
The Treasury...
Along with an asset purchase scheme to increase the supply of money the European Central Bank (ECB) has cut rates to 0.05% from its previous low figure of 0.15% introduced in June.
After this announcement...
What is the best Buy to Let product is one of the questions I am most often asked.
Unfortunately for me there is no answer to that question as at a guess there are probably 50 – 100 plus factors...
I regularly update 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 is worth reminding readers what it...
It has been announced that the Nat West and RBS group will be tightening their Buy to Let mortgage criteria even further. They will be limiting their loan to income ratio to 4.99.
The move became effective...
The UK average house price has now surpassed the 2007 peak by almost 1%. However, if you exclude London figures the average is still 0.4% below the pre-credit crisis high with London actually 30% above.
Mark, Mike and I met through the common background of BuytoLet and Commercial Finance. Over the years through The Money Centre and now Property118 we have literally helped 10s of thousands of Landlords,
The Bank of England’s Governor, Mark Carney has today held a press conference to outline new plans to stabilise the housing market under the Financial Stability Report.
The housing market is the...
Despite the Press and politicians misreporting and misunderstanding Mark Carney’s (the Governor of The Bank of England) latest comments, Virgin Money have actually reduced their Buy to Let mortgage...
Scotland’s big three banks RBS, Bank of Scotland and Clydesdale are over 12 times in value the size of the total Scottish economy, where as currently UK banks are just over 4 times the size of the...
The European Central Bank (ECB) is the first major central bank to introduce a negative interest rate. The ECB has cut its interest rate to minus 0.1% for deposits banks hold with it.
This means that banks...
Precise Mortgages has launched a new “Almost Prime” Buy to let mortgage range for investors with minor and historic adverse credit including products up to 80% Loan to Value (LTV).
“Almost...
In a Sky News interview this morning Mark Carney, the governor of the Bank of England, said that rising house prices due to lack of supply represent the biggest single domestic risk to financial stability...
Unfortunately the majority of the press like to run pure scare stories about future Bank of England Base rate increases because they know it sells. However I like to run my quarterly updates on the inflation...
The good news for Buy to Let mortgage products is that they have remained mostly stable for the last two months, despite the Mortgage Market Review (MMR) and the Bank of England base rate of 0.5% on it’s...
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