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FREE landlord softwareBritain's housing shortage is shrinking - what does that mean for prices?https://t.co/5n9oE06vbD
— MoneyWeek (@MoneyWeek) November 29, 2015Monday, November 30, 2015
Britain's housing shortage is shrinking
Nationwide's November HPI up 0.1%
Nationwide's HPI for November 2015 has property prices inching up by 0.1 per cent during the course of the month.
The bank's annual property growth rate has dropped to 3.7 per cent, with the average UK property price tipping up to £196,305.
Robert Gardner, Nationwide’s chief economist comments
Robert Gardner, Nationwide’s chief economist comments
“The annual rate of house price growth has fluctuated in a fairly narrow range between three and four per cent over the past six months, which is broadly consistent with earnings growth over the longer term. While this bodes well for a sustainable increase in housing market activity in the period ahead, much will depend on whether building activity can keep pace with increasing demand” says
Take advantage of our discounted landlord insurance rates
Take advantage of our discounted landlord insurance rates
Stamp duty, London's loses its glitter
Stamp duty: has London finally lost its status as the world's luxury property hotspot? https://t.co/jsHHq0da4h pic.twitter.com/AmXAD7yKLC
— Telegraph Property (@TeleProperty) November 30, 2015This landlord is no Scrooge
Is this the nicest landlord ever?! #ChristmasCheer #MondayMotivation https://t.co/666RlynWcs
— Rightmove (@rightmove) November 30, 2015Saturday, November 28, 2015
Why the stamp duty surcharge could be good for me
The latest tax surcharge on landlords for most landlords is a bad move. Higher transaction costs will obviously reduce a landlords long-term investment returns and may well discourage some potential buy-to-let investors from making the leap. It's understandable that having to swallow a 3% stamp duty surcharge will simply be too much for some potential landlords.
Treasuries war on landlords
The Chancellor & Treasury continues it out and out tax war against landlords. All this comes off the back of the booming buy-to-let sector. Stepping back and trying to view it objectively the Government has given us landlords historically low interest rates and created the conditions for many of us to book record rental profits. The Government 'giveth now they are determined to taketh away too'. If you were being very critical; one could argue that the low interest rates were only instigated to prevent a house price crash of gargantuan proportions that would have dragged down what was left of the British banking system and the economy with it. All this was caused by the Government this time lead by New Labour (do you remember the pre Corbyn lot of Tony Blair and Gordon Brown's et al) failure to act properly to regulate the banks in the first place. I digress.The stamp duty surcharge could be good for me
I'm currently selling a classic buy to let property (2 bed maisonette & still open to offers!). The surcharge due to come in during April could be good for me. The forecast now is for a stampede of buy-to-let purchasers before the deadline. This hopefully will help cement and speed my current sale to a buyer looking for a buy-to-let . This is my silver lining out of a set of onerous tax changes. Not so good for other landlords though. We are after all easy pickings. I do worry that when this current bizarre monetary environment returns to so called 'normal' we could be left we a range of strange and divisive policies that discriminate against landlords and the private rental sector.Landlord insurance - professional rates - online brokers
Thursday, November 26, 2015
Are the Tories anti-landlord?
This tweet made me chuckle....
Although, I must admit, following the Summer Budget's tax changes and yesterday's announcement on the 3% stamp duty surcharge on BTL property purchases - I am beginning to wonder.
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@landlordnews still glad you backed the tories???
— J P (@Glasgow_Red) November 26, 2015
Although, I must admit, following the Summer Budget's tax changes and yesterday's announcement on the 3% stamp duty surcharge on BTL property purchases - I am beginning to wonder.
Take advantage of our discounted landlord insurance rates
Effect of stamp duty changes
What effect will #stampduty changes have on the UK housing market? Savills @LucianCook comments https://t.co/Z1u8SPdlti #AutumnStatement
— Savills (@Savills) November 25, 2015Our most popular BTL mortgages
| Max LTV | Initial Rate | Term | Completion fee | Booking fee | Incentives | Lender |
| 85% | 4.99% Discount | 2 Years | 2.5% | £130.00 | No | Kent Reliance Semi Exclusive |
| 85% | 5.19% Fixed | 2 Years | 2.5% | £130.00 | No | Kent Reliance Semi Exclusive |
| 85% | 5.29% Discount | 2 Years | 2.5% | £130.00 | No | Kent Reliance Multi Let & Ltd Co. Semi Exclusive |
| 80% | 3% Fixed | 2018-01-31 | 2.5% | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 80% | 3.29% Discount | 2 Years | 0% | £0.00 | No | Hanley Economic Exclusive |
| 80% | 4.6% Fixed | 2018-12-31 | 1.5% | £150.00 | No | Paragon Premier |
| 80% | 4.85% Fixed | 2018-12-31 | 1.5% | £150.00 | No | Paragon Premier HMO |
| 80% | 5.39% Variable | 0 Years | 2% | £0.00 | No | Saffron Light Refurbishment |
| 75% | 2.35% Fixed | 2018-01-31 | 2.5% | £199.00 | Free Valuation | Newcastle Building Society |
| 75% | 2.75% Fixed | 2018-01-31 | £2495 | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 75% | 3.69% Fixed | 2 Years | 2% | £125.00 | No | Foundation Prime |
| 75% | 3.79% Fixed | 2 Years | 1.5% | £100.00 | No | Axis Bank |
| 75% | 4.25% Fixed | 2021-01-31 | 0% | £199.00 | Free Valuation & Free Legal fees (remortgage) Free Valuation & £300 Cashback (House Purchase) | Newcastle Building Society |
| 75% | 4.59% Fixed | 5 Years | 2% | £100.00 | No | Axis Specialist |
| 70% | 4.99% Fixed | 2 Years | 2% | £125.00 | No | Foundation Light Adverse |
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.
The Financial Services Authority does not regulate some forms of mortgage.
The 3% BTL stamp duty surcharge
Well what can you say? George has done it again... kicked us right where it hurts when it comes to landlord tax.
Yesterday's Autumn Statement saw him announce a 3% Stamp Duty Land Tax surcharge for landlords and second home buyers.
The chancellor hopes the new surcharge will raise an additional £1bn by 2021.
The changes come into play from April 2016, so if you're wanting to purchase another BTL without the additional 3% then you've got the next five months to do so.
A word of warning - expect a bun fight, as every man and his dog will be thinking the same.
Just before you log on to Rightmove, it might be worth considering the fact that any Stamp Duty charge will still be able to be offset on your capital gains liability when you come to sell the property, making that extra cost at purchase able to be offset at sale time.
The pay off might make it actually worth holding back on buying as there might be enough of a slump in prices post April to make it worthwhile paying the extra 3% Stamp Duty.
But as we've witnessed over the past few months, the situation is ever changing, and the status on a landlords capital gains might change again.
Yesterday's statement, underlined the fragility of the Capital Gains status quo, with a change to the payment period on CGT from the sale of residential property coming down from 21 months after disposal to just 30 days. This change come in from April 2019.
What does make it seem that Osborne is out to get us, is the expected exemption of commercial property investors from the surcharge. Those with more than 15 properties are expected to be exempt.
Anyway, it is, what it is.
Watch this space for further clarification, but put simply these will be the new rates landlords and second homeowners will be expected to pay in Stamp Duty from April 2016 -
Read the Gov Documents on the Autumn Spending Review 2015
Here's more reaction from others in the industry -
David Cox, ARLA's MD commented
‘Increasing tax for landlords will increase rents and reduce property standards for tenants.
To make owning a BTL property financially viable, landlords will need to pass on the increased stamp duty costs to tenants, who will in turn see less spent on maintaining their property and of course see increased rents,’
Richard Lambert, the NLA's chief exec commented
‘The exemption for corporate investment makes this effectively an attack on the small private landlords who responded to the housing crisis by putting their own money into providing homes by the party that they put their faith in at the election,’
Yesterday's Autumn Statement saw him announce a 3% Stamp Duty Land Tax surcharge for landlords and second home buyers.
The chancellor hopes the new surcharge will raise an additional £1bn by 2021.
The changes come into play from April 2016, so if you're wanting to purchase another BTL without the additional 3% then you've got the next five months to do so.
A word of warning - expect a bun fight, as every man and his dog will be thinking the same.
Just before you log on to Rightmove, it might be worth considering the fact that any Stamp Duty charge will still be able to be offset on your capital gains liability when you come to sell the property, making that extra cost at purchase able to be offset at sale time.
The pay off might make it actually worth holding back on buying as there might be enough of a slump in prices post April to make it worthwhile paying the extra 3% Stamp Duty.
But as we've witnessed over the past few months, the situation is ever changing, and the status on a landlords capital gains might change again.
Yesterday's statement, underlined the fragility of the Capital Gains status quo, with a change to the payment period on CGT from the sale of residential property coming down from 21 months after disposal to just 30 days. This change come in from April 2019.
What does make it seem that Osborne is out to get us, is the expected exemption of commercial property investors from the surcharge. Those with more than 15 properties are expected to be exempt.
Anyway, it is, what it is.
Watch this space for further clarification, but put simply these will be the new rates landlords and second homeowners will be expected to pay in Stamp Duty from April 2016 -
- Up to £125,000 - 3%
- £125 - £250,000 - 5%
- £250 - £925,000 - 8%
- £925 - £1.5m -13%
- over £1.5m -15%
Read the Gov Documents on the Autumn Spending Review 2015
Here's more reaction from others in the industry -
David Cox, ARLA's MD commented
‘Increasing tax for landlords will increase rents and reduce property standards for tenants.
To make owning a BTL property financially viable, landlords will need to pass on the increased stamp duty costs to tenants, who will in turn see less spent on maintaining their property and of course see increased rents,’
Richard Lambert, the NLA's chief exec commented
‘The exemption for corporate investment makes this effectively an attack on the small private landlords who responded to the housing crisis by putting their own money into providing homes by the party that they put their faith in at the election,’
Read our initial analysis of yesterday's #AutumnStatement here: https://t.co/7p9qw7IEaf pic.twitter.com/qYAVyKqS8V
— MoneyWeek (@MoneyWeek) November 26, 2015
Baffled by business rates? Stumped by stampduty. All the property policy changes from #Spending Review rounded-up https://t.co/jqfwIONC54
— estatesgazette (@estatesgazette) November 26, 2015
George Osborne unveils his 'bold plan' to tackle housing crisis https://t.co/BYrkecKXjC #ukhousing
— Guardian Housing (@GuardianHousing) November 25, 2015
And if you wanted any other reaction (quite literally from nearly everyone) can be found in this story: https://t.co/m4NsgrefnT #ukhousing
— 24housing Magazine (@24housing) November 25, 2015
The death knell for buy-to-let? Stamp duty bill on a £275k home is trebled as Chancellor targets landlords... https://t.co/sk86baiZw5
— This is Money (@thisismoney) November 25, 2015
Our full #spendingreview response is now available. Find out our views on the Autumn Statement 2015 https://t.co/J35m3slB7e
— RICS (@RICSnews) November 25, 2015
New buy-to-let stamp duty: How much will you pay? https://t.co/ltGqJILhK2
— Telegraph Property (@TeleProperty) November 25, 2015
Take advantage of our discounted landlord insurance rates
Chancellor building for the future
The Chancellor is building for the future - if he can get planning permission https://t.co/N7HlqGrnM3 pic.twitter.com/sozMWushB8
— Telegraph News (@TelegraphNews) November 25, 2015What UK building boom?
UK housebuilding: boom, what boom? https://t.co/eWjbmOhJz5 pic.twitter.com/F5PKxf5vwo
— The Lex Column (@FTLex) November 26, 2015Wednesday, November 25, 2015
Landlords to be surcharged
From April 2016, landlords will have to pay a 3% surcharge on the stamp duty band for the property. This is on top of the recently announced increases in tax for higher rate landlords. I can only hope that my purchase of my barn conversion in Derbyshire will beat the latest changes.
This means that for example properties worth between £125,000 and £250,000 where the stamp duty is 2% will pay 5%. For the average buy-to-let purchase price of £184,000 this will add an additional transaction cost of £5,520. Have a look here at the current stamp duty land tax rates
George Osborne anticipates that the change and new stamp duty surcharge on landlords would raise £1bn extra for the cash strapped Treasury by 2012.
Property Hawks view on surcharging on stamp duty surcharge
This is yet another raid by the Treasury on UK landlords. What is worrying is that the State is placing it's own value judgement on what is deserving housing and what isn't by eroding the level playing field of housing costs established after the eradication of MIRAS in the 1980s. It is a retrograde step in housing allocation and will only lead to complications and anomalies. How will it be policed? Wont there be a massive incentive for landlords to 'pretend' to purchase a property as their home only then to subsequently rent it.The answer as always is not trying to artificially re-allocate housing between tenures through the tax system but to design a system that enable enough new housing to be built to provide for our increasing housing needs.
Landlord insurance - professional rates - online brokers
Tuesday, November 24, 2015
European country's housing spend
What % of European households spend more than 40% of income on housing? Interesting new Eurostat. Oh Greece! pic.twitter.com/vh7Tunicag
— Paul Kirby (@paul1kirby) November 23, 2015Take advantage of our discounted landlord insurance rates
Landlord jailed for 15 months following fire
A Prestatyn landlord has been jailed for 15 months following a fire at his rental property killed five people.
Unbelievably, landlord, Jay Liptrot, 43, from Prestatyn, Wales was also working as a fireman at the time of the blaze and the court heard how he was one of the firefighters at the" forefront of brave efforts" to rescue the five from the flat after the blaze was started.
Mr Liptrot pleaded guilty to a charge of failing to take general fire precautions and exposing people to risk at Caernarfon Crown Court. The installation of a fire door would have meant that it would have taken 30 minutes before the fire swept through the upstairs flat, but instead the “woefully inadequate” door made of glass and thin wood failed to act as a barrier between the communal hallway and stairs leading to the upstairs flat, and instead funnelled heat and smoke upwards “like a chimney”.
Tragically, Lee-Anna Shiers, 20, Liam Timbrell, 23, their son Charlie, Ms Shiers' nephew Bailey, four, and niece Skye, two, all died in the rental flat in Prestatyn back in 2012.
Due to Liprot's profession as a firefighter, the judge categorised his 'culpability' as high.
Mr Liptrot must also pay £4,200 prosecution costs and a £100 victim surcharge.
The blaze was started by a neighbour, Melanie Smith after a row with Ms Shiers' regarding a pushchair left in the shared hallway of the flats. Smith has been sentenced for 30 years for murder.
Landlords focus on cheaper homes
Landlords focus on cheaper properties https://t.co/42kYyjbZQ0
— Personal Finance (@ftmoney) November 24, 2015BTL - don't do it!
#BuytoLet: don't do it. https://t.co/x5J4vN5pxr pic.twitter.com/KZuvq2Oo64
— MoneyWeek (@MoneyWeek) November 23, 2015Take advantage of our discounted landlord insurance rates
Less rent hikes in October says ARLA
The Association of Residential Letting Agents (ARLA) October Private Rental Sector (PRS) Report has been published.
ARLA managing director, David Cox, commented on the October market survey:
It shows fewer tenants experiencing rent increases according, with letting agents reporting rent increases falling to 25% in October, down from 32% in September – and the lowest monthly rate this year.
The October rental market saw its seasonal drop in demand, with ARLA agents registering an average of just 33 new tenants, again the lowest monthly rate so far this year.
The London rental market continues to follow its own upward trajectory, with rental demand up in October – with an average of 42 tenants registering per branch, up from 39 in September.
The London rental market continues to follow its own upward trajectory, with rental demand up in October – with an average of 42 tenants registering per branch, up from 39 in September.
ARLA managing director, David Cox, commented on the October market survey:
“Finally, some good news this month – fewer agents reporting rent increases should bring some relief to tenants before Christmas. It’s definitely a step in the right direction, however a quarter of tenants are unfortunately still seeing hikes.
Although it’s typical that demand dropped at this time of year, as there’s a seasonal lull in the run up to Christmas, we except to pick up again in January.
Looking ahead to next year, we’d hope to see the number of tenants experiencing rent hikes remain low with supply and demand levelling out. However, a lot is resting on the economic and political agenda. We’re still waiting for new houses, promised by the Prime Minister to be built. Whilst this will take pressure off the rental prices as supply rises, the changes to landlord tax proposed under the Finance Bill is likely to discourage new landlords from entering the market.
Further, it’s been a waiting game all year to see if Mark Carney will raise interest rates in the New Year – this will play a big part in determining whether renters looking to buy a home will be able to afford to. And when interest rates do rise, the goal of homeownership will be pushed further out of reach for many and of course put further pressure on the private rental sector.”
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Although it’s typical that demand dropped at this time of year, as there’s a seasonal lull in the run up to Christmas, we except to pick up again in January.
Looking ahead to next year, we’d hope to see the number of tenants experiencing rent hikes remain low with supply and demand levelling out. However, a lot is resting on the economic and political agenda. We’re still waiting for new houses, promised by the Prime Minister to be built. Whilst this will take pressure off the rental prices as supply rises, the changes to landlord tax proposed under the Finance Bill is likely to discourage new landlords from entering the market.
Further, it’s been a waiting game all year to see if Mark Carney will raise interest rates in the New Year – this will play a big part in determining whether renters looking to buy a home will be able to afford to. And when interest rates do rise, the goal of homeownership will be pushed further out of reach for many and of course put further pressure on the private rental sector.”
Take advantage of our discounted landlord insurance rates
Home ownership rates for Europe
Latest home ownership rates for Europe. Who'd have expected former Communist nations to beat UK so easily? pic.twitter.com/qlabG3VHWr
— Paul Kirby (@paul1kirby) November 23, 2015Monday, November 23, 2015
Kids in poverty in PRS doubles
Kids in #ukpoverty in private rented houses has doubled in 10 years #mpseuk15 @npi_research https://t.co/QtVgJEQGqT pic.twitter.com/8avlzjZbJB
— Brian Robson (@jrfbrian) November 23, 2015Sheffield HMO landlord fined
John Mark Cashin, aged 46, of Over Lane in Baslow has been ordered to pay £7,300 by Sheffield Magistrates Court.
Sheffield Council brought the prosecution. Council officers listed a number of safety breaches at four shared rental houses managed by Cashin, alongside his failure to obtain the required HMO licenses for two of his properties.
Specific faults listed, included - severe damp, leaky waste pipes and missing smoke alarms.
Rightmove's November House Price Index
See what's changed in #houseprices in the last month in our latest #HPI: https://t.co/LjYEJLvQFG pic.twitter.com/73AG7nZjIS
— Rightmove (@rightmove) November 23, 2015Rent smart licensing launches in Wales
BBC News - Rent Smart Wales landlords licensing system launches https://t.co/cGDcRFMajC
— Property Hawk (@landlordnews) November 23, 2015
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Saturday, November 21, 2015
Finding investment property
Even now when I'm not really looking to invest any more in property I find myself drawn to property portals just to see what is available and whether there is an opportunity.
I'm currently refurbishing a Penthouse apartment in the centre of Nottingham (currently trying to choose the spiral staircase) as the most pressing job. In addition I'm trying to finalise the purchase of a Peak District barn conversion as a potential holiday let. So really I've got my property hands pretty full.
Couple of interest property portals
Despite all this I came across a couple of interesting websites that gave me my property fix. The first is an international website called global property guide that allow you to evalulate the relative attractiveness and returns of global property markets. I still haven't given up on the idea of buying abroad. At the moment it wouldn't make sense. I've not got the time to holiday let alone live abroad.If you are looking at buying investment property in the UK the there is Pring. It has a few useful features in that it highlights potential properties that may make good investments and then gives you the potential returns available.
Is finding property a sport or a pastime. If it's the former then it's a great way of working out without working up a sweat and for most of us far more financially rewarding!
Landlord insurance - professional rates - online quotes
Friday, November 20, 2015
Ealing landlord fined £70k over HMO
Landlord, Balwinder Singh Kahlon pleaded guilty to 18 offences at Ealing Magistrates' Court.
Balwinder Singh Kahlon was fined nearly £70,000.
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All 18 offences relate to a House in Multiple Occupation in Southall, Mr Kahlon owns and manages.
Officers from Ealing Council described how on inspection of the property they discovered twenty tenants sharing cramped conditions, including a number of windowless rooms.
The HMO property was licensed, but only for a maximum of ten tenants.
Alongside breaching the restrictions of the HMO licence, officers listed a number of other offences that Mr Kahlon had failed to meet under the Management of Houses in Multiple Occupation Regulations and the Housing Act. Escape routes were blocked, many of the communal spaces were filthy and emergency lighting was described as 'insufficient'.
Balwinder Singh Kahlon was fined nearly £70,000.
Take advantage of our discounted landlord insurance rates
Thursday, November 19, 2015
New BTL mortgages for limited companies
Foundation Home Loans has launched a new range of buy-to-let mortgage products for limited companies.
- 4.19% 2 year fixed up to 65% LTV
- 4.29% 3 year fixed up to 65% LTV
- 4.79% 5 year fixed up to 65% LTV
- 4.29% 2 year fixed up to 75% LTV
- 4.49% 3 year fixed up to 75% LTV
- 4.99% 5 year fixed up to 75% LTV
Please contact Property Hawk Mortgages for full product details.
Search the whole BTL mortgage market free
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.
The Financial Services Authority does not regulate some forms of mortgage.
Average UK property prices hits £286k high
UK property price rose by £13,000 to a new high of £286,000 in September according to the latest figures from the Office for National Statistics.
Read the ONS September House Price Index September 2015
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- UK house prices increased by 6.1% in the year to September 2015, up from 5.5% in the year to August 2015.
- House price annual inflation was 6.4% in England, 1.1% in Wales, 1.1% in Scotland and 10.2% in Northern Ireland.
- Annual house price increases in England were driven by an annual increase in the East (8.4%) and the South East (7.4%).
- Excluding London and the South East, UK house prices increased by 5.0% in the 12 months to September 2015.
- On a seasonally adjusted basis, average house prices increased by 0.8% between August and September 2015.
- In September 2015, prices paid by first-time buyers were 4.3% higher on average than in September 2014.
- For owner-occupiers (existing owners), prices increased 6.9% for the same period.
Read the ONS September House Price Index September 2015
Take advantage of our discounted landlord insurance rates
Rental voids remain low
Rental voids have fallen to a historic low in Paragon's latest BTL market survey for Q3 2015.
The landlords surveyed reported experiencing a stable market, with small but steady increases in rents and good tenant demand during Q3 2015.
The average rental voids remains at 2.6 weeks.
89 per cent of landlords felt that they were confident that the market would remain stable over the coming year.
The number of landlords intending to buy additional properties over the coming 12 months reflected this increased confidence, with 18.4% looking to buy, up from 16.8% from the Q2 survey.
John Heron, managing director of Paragon Mortgages commented
‘This quarter’s results present a picture of a PRS sector that is neither booming nor contracting, but rather growing steadily,’
One in nine tenants subletting their property
A survey carried out by the NLA found that 11% of private rented sector tenants have sublet their properties, half of them did so without their landlords knowledge.
NLA chairman, Carolyn Uphill commented
‘We are talking about individuals looking to deceive their landlord and maximise their personal gains at the expense of proper property management standards and the risk of others. It not only increases the cost of renting for the unwitting sub-tenants, it affects their rights and can reduce security of tenure.’
‘We are talking about individuals looking to deceive their landlord and maximise their personal gains at the expense of proper property management standards and the risk of others. It not only increases the cost of renting for the unwitting sub-tenants, it affects their rights and can reduce security of tenure.’
Delaying repairs to maximise tax breaks
Landlords delay repairs to maximise 'wear and tear' tax break https://t.co/76xwtQY6Dv #ukhousing
— Guardian Housing (@GuardianHousing) November 19, 2015Housing starts rising slowly
Annually, housing starts and completions are rising but too slow to hit 200k pa by 2020 pic.twitter.com/1CT6Vcdggn
— Henry Pryor (@HenryPryor) November 19, 2015Do I need a CP 12 Certificate?
Landlords with a gas appliance in their rented property will need to read our latest guidance on a Gas Safety Certificate or CP 12 need to find out what their legal responsibilities are.
It might surprise some landlords that it's perfectly acceptable to serve your CP 12 on your tenant digitally by email.
Equally, you only need one CP 12 per rental property.
Find out the essentials on CP 12 Gas Safety Certificates by looking at our Landlords Bible.
Landlord insurance - expert brokers - professional rates
It might surprise some landlords that it's perfectly acceptable to serve your CP 12 on your tenant digitally by email.
Equally, you only need one CP 12 per rental property.
Find out the essentials on CP 12 Gas Safety Certificates by looking at our Landlords Bible.
Landlord insurance - expert brokers - professional rates
Wednesday, November 18, 2015
Why UK property auctions are booming
Why property auctions are booming in the UK, with insight from @SavillsAuctions: https://t.co/fOopWRn0sn pic.twitter.com/swTItsKAXd
— Savills (@Savills) November 18, 2015The most popular BTL mortgages
Most popular buy-to-let
mortgages
| Max LTV | Initial Rate | Term | Completion fee | Booking fee | Incentives | Lender |
| 85% | 4.99% Discount | 2 Years | 2.5% | £130.00 | No | Kent Reliance Semi Exclusive |
| 85% | 5.19% Fixed | 2 Years | 2.5% | £130.00 | No | Kent Reliance Semi Exclusive |
| 85% | 5.29% Discount | 2 Years | 2.5% | £130.00 | No | Kent Reliance Multi Let & Ltd Co. Semi Exclusive |
| 80% | 3% Fixed | 2018-01-31 | 2.5% | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 80% | 3.29% Discount | 2 Years | 0% | £0.00 | No | Hanley Economic Exclusive |
| 80% | 4.6% Fixed | 2018-12-31 | 1.5% | £150.00 | No | Paragon Premier |
| 80% | 4.85% Fixed | 2018-12-31 | 1.5% | £150.00 | No | Paragon Premier HMO |
| 80% | 5.39% Variable | 0 Years | 2% | £0.00 | No | Saffron Light Refurbishment |
| 75% | 2.35% Fixed | 2018-01-31 | 2.5% | £199.00 | Free Valuation | Newcastle Building Society |
| 75% | 2.75% Fixed | 2018-01-31 | £2495 | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 75% | 3.69% Fixed | 2 Years | 2% | £125.00 | No | Foundation Prime |
| 75% | 3.79% Fixed | 2 Years | 1.5% | £100.00 | No | Axis Bank |
| 75% | 4.25% Fixed | 2021-01-31 | 0% | £199.00 | Free Valuation & Free Legal fees (remortgage) Free Valuation & £300 Cashback (House Purchase) | Newcastle Building Society |
| 75% | 4.59% Fixed | 5 Years | 2% | £100.00 | No | Axis Specialist |
| 70% | 4.99% Fixed | 2 Years | 2% | £125.00 | No | Foundation Light Adverse |
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.
The Financial Services Authority does not regulate some forms of mortgage.
Your Move Scottish HPI records rise
Your Move's September Scottish house price index shows a bounce back in the market north of the border.
After an uncertain year, Scottish house prices have gone from a annual growth rate of just 0.6% in August, to 1.4% in September.
The average Scottish property rose by £850 over the course of September to £167,505.
Usually there is a decline in house purchase activity between August and September, as a lagged effect of the summer holidays. However, this month’s figures go against this trend. Despite other headwinds, this could be down to Scotland’s rising employment rate, increasing by 3,000 in the three months to September to 2,614,000 according to the ONS. With interest rates unlikely to change until 2017, low borrowing costs and near zero inflation should also help to pull up prices in the future."
After an uncertain year, Scottish house prices have gone from a annual growth rate of just 0.6% in August, to 1.4% in September.
The average Scottish property rose by £850 over the course of September to £167,505.
Your Move's managing director in Scotland, Christine Campbell reflected on the market:
“House prices have taken off after a turbulent summer. Annually, house prices have increased by 1.4% (£2,282) compared to September last year, more than double August’s annual growth rate (0.6%), as momentum builds in Scotland’s property market again.
Usually there is a decline in house purchase activity between August and September, as a lagged effect of the summer holidays. However, this month’s figures go against this trend. Despite other headwinds, this could be down to Scotland’s rising employment rate, increasing by 3,000 in the three months to September to 2,614,000 according to the ONS. With interest rates unlikely to change until 2017, low borrowing costs and near zero inflation should also help to pull up prices in the future."
London house price predictions for 2020
House prices are expected to rise between 10-20% in London by 2020. Find out where: https://t.co/GMF98W7z9M pic.twitter.com/QU0sbGLxPo
— ES Homes & Property (@HomesProperty) November 18, 2015Tuesday, November 17, 2015
Curse of the boiler breakdown
Leaking boiler problems
The bloomin boiler is leaking which is exactly why I had to replace the last one a Halsted.Sometimes it can be no fun and a lonely business being a landlord. You know what. At this time of year I tempted to sell all my properties and rent. Then I can join Generation Rent and just pick up the phone when I have problem with my boiler. I've toyed before with landlord boiler insurance and have rejected it as an expensive complication to actually getting my boiler fixed. Instead, I'll call up one of the number of plumbers I know....hope they are not going to rip me off and that they can fit me in. Who says being a landlord is sexy?
Landlord insurance - professional rates - online brokers
Zoopla's Stamp Duty calculator
A helpful Stamp Duty calculator https://t.co/NFk8m6gyfj pic.twitter.com/S7PBELnHip
— Zoopla (@Zoopla) November 17, 2015Buying a BTL in Luton article
Could Luton hold the key to your buy-to-let success? https://t.co/Ww4UaICszg
— This is Money (@thisismoney) November 17, 2015Bristol landlord fined for unsafe boiler
North Avon Magistrates’ Court heard how Bristol landlord, Michael Bull, failed to have the required checks carried out on a gas boiler at his rental property in Mangotsfield.
Bull was fined £2,360 and made to pay full legal costs of £1,532 after he pleaded guilty to breaching Regulations 36(2)(a) and 36(3)(a) of the Gas Safety (Installation and Use) Regulations 1998
The Health and Safety Executive (HSE) were alerted to the situation after the family who rented out the property suffered carbon monoxide poisoning.
With the boilers ignition button not working, the tenants had removed the boiler's casing to enable them to relight it, unaware of the risks of leaving the case off.
The five tenants fell ill and were treated in hospital for carbon monoxide poisoning.
HSE Inspector, Matthew Tyler commented:
“It is important that domestic landlords understand and meet their legal obligations to ensure that gas appliances in their tenanted properties are checked for safety annually and regularly serviced by a Gas Safe registered engineer. This case demonstrates that where this is not undertaken that tenant can be exposed to the products of combustion including Carbon Monoxide which in the most serious cases can result in death.”
Read the HSE advice on landlords gas safety
Take advantage of our discounted landlord insurance rates
Read the HSE advice on landlords gas safety
Generation rent predicted to grow
Only 26% of 20 to 39-year-olds in England will live in a home they own by 2025, via @_KathrynHopkins https://t.co/W38n9WI7fj
— TimesBusiness (@TimesBusiness) November 17, 2015Monday, November 16, 2015
Why are landlords demonised?
Rented homes are desperately needed, so why are landlords demonised? https://t.co/MEFYIRsfob pic.twitter.com/IQAIyT6VPY
— Telegraph News (@TelegraphNews) November 15, 2015Keep down your BTL tax bill
How to keep your buy-to-let property and keep your tax bill down at the same time https://t.co/Yyi4RrYUxq
— MoneyWeek (@MoneyWeek) November 15, 2015Take advantage of our discounted landlord insurance rates
Sunday, November 15, 2015
Why London house prices will crash
Why have house prices continue to rise
Nationally, lets not forget that house prices have been kept afloat artificially by monetary policy that has pushed the price of borrowing for many of us down to ridiculously low levels. This has prompted more of us to hold mortgage debt for longer and greater amounts than we would have at normal rates. Despite house prices being above historically high levels, people including myself continue to plough more money into property because of worries over the stock market and the low levels of returns available elsewhere. The old adage of you can't go wrong by sticking your money in 'bricks and mortar' becomes a self for filling prophecy. The more we get confused, scared, about financial and economic security; the more we get tempted to put our money into something we can see, we think we understand and we can use....housing. No more has this been true than in London.Why London house prices are about to crash
London has seen phenomenal growth in the value of it's housing stock. Every pound invested in London Housing in 1990 would be worth £5, double the increase in the stock market. Conservative estimates put London housing at 13 times average incomes. London housing has become a sink and a refuge for the internationally mobile rich and this has inflated prices well past any sensible economic rational valuations ( does anybody remember the credit crunch cause by a housing and lending bubble). Deutche Bank economist Sahil Mahtani argues that we have reached a tipping point where rising house prices in London have become a self for filling prophecy fueled nothing more than by a belief that price will rise inexorably totally detached from any economic fundamentals. To read the full piece have a look at the Business Insider UK. This is not the first time an economist has called the end of a housing boom. Oxford economist Andrey Farley in his various publications for Oxford University between 2002 - 2005 forcast just such a scenario where house prices became out of kilter with economic realities and his predictions eventually proved correct in the credit crunch and house price falls of the last decade.The reality that the timing and trigger of economic 'adjustments' or 'crashes' are uncertain and may take several years to materialize. That doesn't make the doomsayers wrong. Sometimes it just take time for these events to unfold.
Landlord insurance - insure my wealth - online brokers
Thursday, November 12, 2015
Our most popular BTL mortgages
| Max LTV | Initial Rate | Term | Completion fee | Booking fee | Incentives | Lender |
| 85% | 4.99% Discount | 2 Years | 2.5% | £130.00 | No | Kent Reliance Semi Exclusive |
| 85% | 5.19% Fixed | 2 Years | 2.5% | £130.00 | No | Kent Reliance Semi Exclusive |
| 85% | 5.29% Discount | 2 Years | 2.5% | £130.00 | No | Kent Reliance Multi Let & Ltd Co. Semi Exclusive |
| 80% | 3% Fixed | 2018-01-31 | 2.5% | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 80% | 3.25% Fixed | 2018-01-31 | £2495 | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 80% | 3.29% Discount | 2 Years | 0% | £0.00 | No | Hanley Economic Exclusive |
| 80% | 4.6% Fixed | 2018-12-31 | 1.5% | £150.00 | No | Paragon Premier |
| 80% | 4.85% Fixed | 2018-12-31 | 1.5% | £150.00 | No | Paragon Premier HMO |
| 80% | 5.39% Variable | 0 Years | 2% | £0.00 | No | Saffron Light Refurbishment |
| 75% | 2.35% Fixed | 2018-01-31 | 2.5% | £199.00 | Free Valuation | Newcastle Building Society |
| 75% | 2.59% Fixed | 2018-01-31 | 1.5% | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 75% | 2.75% Fixed | 2018-01-31 | £2495 | £150.00 | Free valuation | Mortgage Trust Exclusive |
| 75% | 3.69% Fixed | 2 Years | 2% | £125.00 | No | Foundation Prime |
| 75% | 3.79% Fixed | 2 Years | 1.5% | £100.00 | No | Axis Bank |
| 75% | 4.25% Fixed | 2021-01-31 | 0% | £199.00 | Free Valuation & Free Legal fees (remortgage) Free Valuation & £300 Cashback (House Purchase) | Newcastle Building Society |
| 75% | 4.59% Fixed | 5 Years | 2% | £100.00 | No | Axis Specialist |
| 70% | 4.99% Fixed | 2 Years | 2% | £125.00 | No | Foundation Light Adverse |
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.
The Financial Services Authority does not regulate some forms of mortgage.
Annual house price growth at 5.2%
The annual house price growth for England and Wales has climbed back up to 5.2%, according to LSL property services latest data.
Their average property price rose sharply in October, up by £2,500 over the month, or £80 a day.
London continued to perform the most strongly, with the average annual growth in the capital now at £24,636 – three quarters of the average Londoner’s salary.
Adrian Gill, director of Reeds Rains and Your Move estate agents, comments:
“There has been somewhat of a Halloween resurrection in house prices this October, as annual growth finally comes back to life. House prices across England and Wales are now 5.2% (£14,211) higher than a year ago – an uptick from 4.7% in the twelve months to September. As growth jolts back into action, this is the fastest annual rise in house prices recorded for six months, since April. In addition, a more spirited monthly price hike has taken property values to a new high – their tenth consecutive record this year – with average home values increasing by £2,443 (0.9%) during October, equal to rising £78.81 a day in cash terms.
This reawakening of price growth has been driven by London and the South East, the fastest growing regions across England and Wales. East Anglia has experienced the strongest year-on-year rise of any region, with a 6.2% annual increase in house prices taking the average price for a property in the area to £241,284.
This reawakening of price growth has been driven by London and the South East, the fastest growing regions across England and Wales. East Anglia has experienced the strongest year-on-year rise of any region, with a 6.2% annual increase in house prices taking the average price for a property in the area to £241,284.
In London, house prices are recovering from the more subdued growth seen during the second half of 2014. Annually, there has been a 4.4% price increase in the capital, with property values rising by an average of £24,636 – roughly 75% of a typical Londoner’s salary. However, most of the recent price increases have emanated from the lower rungs of the market; with Harrow, Newham and Barking and Dagenham showing the strongest annual growth. These rapid rises are currently outweighing the decline at the top of the market, carrying average values higher. While many commentators are forecasting significant house price growth in London and the UK in the coming years, these need to be viewed in historical context and we’re unlikely to see a return to the unsustainable rises of the past decade. Most current predictions are still a slowdown from the past five years of growth, and overall since September 2005 average prices across the country have soared 43.5%, while average property values in London have more than doubled, jumping 104%.
The Chancellor’s intimidating Stamp Duty remodel is still spooking the top end of the London market. Properties worth over £1.5 million have been hit with a stamp duty increase, currently set at 12% of the portion of the property’s value above £1.5m, up from 5% previously. As a result, sales of homes worth more than £1.5 million have fallen by 35% in Q3, compared to a year ago. This tax has really put the shackles on the prime market in the capital, as three quarters of these sales since January 2014 took place in London. The implications can be seen in the 12.6% annual drop in prices in Kensington and Chelsea, while prices in the City of Westminster have also fallen, 5.5% year-on-year. Stamp duty has had strong implications for the South East too, with prices dropping in other typically more expensive areas, such as Windsor and Maidenhead.
This has been the best October for house sales for eight years, with 88,000 sales taking place during the month, up 9% since September. Regionally, the pattern of the sales is the reverse of what we’re seeing in house prices, with activity increasing fastest in the North, Yorkshire and Humber and North West, but falling in the southern half of the country. Supply of properties on the market seems to be the sticking point for sales growth, and activity in the northern most regions of England is also being facilitated by more affordable prices. With low interest rates now likely to be prolonged into 2017, there should be plenty of momentum to encourage further activity. But so far in 2015, total sales are still 4% down on last year, due to a slower first six months. We will need the current revival to storm through the remaining two months of the year, if we are going to match 2014 sales.”
The Chancellor’s intimidating Stamp Duty remodel is still spooking the top end of the London market. Properties worth over £1.5 million have been hit with a stamp duty increase, currently set at 12% of the portion of the property’s value above £1.5m, up from 5% previously. As a result, sales of homes worth more than £1.5 million have fallen by 35% in Q3, compared to a year ago. This tax has really put the shackles on the prime market in the capital, as three quarters of these sales since January 2014 took place in London. The implications can be seen in the 12.6% annual drop in prices in Kensington and Chelsea, while prices in the City of Westminster have also fallen, 5.5% year-on-year. Stamp duty has had strong implications for the South East too, with prices dropping in other typically more expensive areas, such as Windsor and Maidenhead.
This has been the best October for house sales for eight years, with 88,000 sales taking place during the month, up 9% since September. Regionally, the pattern of the sales is the reverse of what we’re seeing in house prices, with activity increasing fastest in the North, Yorkshire and Humber and North West, but falling in the southern half of the country. Supply of properties on the market seems to be the sticking point for sales growth, and activity in the northern most regions of England is also being facilitated by more affordable prices. With low interest rates now likely to be prolonged into 2017, there should be plenty of momentum to encourage further activity. But so far in 2015, total sales are still 4% down on last year, due to a slower first six months. We will need the current revival to storm through the remaining two months of the year, if we are going to match 2014 sales.”
RICS Resi Market Survey for October
Our UK Residential Market Survey shows house prices climbing and stocks falling: https://t.co/NQoji4amNy #RICSresi pic.twitter.com/WQLU5xibxy
— RICS (@RICSnews) November 12, 2015
Take advantage of our discounted landlord insurance rates
Manchester HMO landlord fined £15k
A Manchester landlord has been ordered to pay £15,672 following a fire at his rental flat in Moss Side.
Following the fire, council officers visited the flat situated above a shop, to discover it had been rented to eight tenants without the required licence.
Officers found the flat breached safety regulations. The electrics were dangerous, the smoke alarm defective and the only escape route, through the kitchen, to be insufficient.
Landlord, Rashpal Singh, 48 was found guilty of failing to comply with Houses in Multiple Occupation (HMO) licensing legislation.
Mr Singh must also pay back a total of £11,884.33 in housing benefit payments made to him.
Take advantage of our discounted landlord insurance rates
Mr Singh must also pay back a total of £11,884.33 in housing benefit payments made to him.
Take advantage of our discounted landlord insurance rates
Value of UK housing rises by £1.8trn
Value of UK housing rises by £1.8trn in past decade https://t.co/mvJDE5kQad
— FTAdviser (@FTAdviser) November 12, 2015Wednesday, November 11, 2015
Alternative property investments at auction
From ground rents to garages, #auctions can offer alternative property investments: https://t.co/elASAQOsbA
— Savills Auctions (@SavillsAuctions) November 11, 2015CML report increasing BTL lending
Gross buy-to-let lending increased substantially in September 2015 according to CML data.
Buy-to-let now represents 18% of gross lending on mortgages.
Third quarter BTL lending was up in both volume and value compared to third quarter 2014.
The CML say increased activity was down to BTL remortgages and purchasing, though remortgaging recorded the greater increases.
Buy-to-let now represents 18% of gross lending on mortgages.
September 2015 CML BTL lending figures
'Gov. rogue landlord consultation' published
The Government's consultation on 'Tackling rogue landlords and improving the private rental sector' has concluded.
The report, its findings and some 500 responses have been collated and published here.
New custodial TDS contracts announced by DCLG
The Department for Communities and Local Government has announced the new contracts to run its Custodial Tenancy Deposit Schemes.
Wait for it, and the winners are, in no particular order -
The Deposit Protection Service will continue to provide its custodial tenancy deposit scheme ( new contract starting 1 April 2016. )
The Dispute Service Ltd will get to run a custodial deposit protection schemes in England and Wales ( contract starting 1 April 2016. )
Tenancy Deposit Solutions Ltd (trading as as MyDeposits) will also get to run a custodial deposit protection schemes in England and Wales ( contract starting 1 April 2016. )
The Deposit Protection Service will continue to provide its custodial tenancy deposit scheme ( new contract starting 1 April 2016. )
The Dispute Service Ltd will get to run a custodial deposit protection schemes in England and Wales ( contract starting 1 April 2016. )
Tenancy Deposit Solutions Ltd (trading as as MyDeposits) will also get to run a custodial deposit protection schemes in England and Wales ( contract starting 1 April 2016. )
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