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%	5.39% Variable	0 Years	2%	£0.00	No	Saffron Light Refurbishment
80%	3% Fixed	2017-08-31	2.5%	£150.00	Free valuation	Mortgage Trust Exclusive
80%	3.25% Fixed	2017-08-31	£2495	£150.00	Free valuation	Mortgage Trust Exclusive
80%	3.5% Discount	2 Years	0%	£0.00	No	Hanley Economic Exclusive
75%	3.79% Fixed	2 Years	1.5%	£100.00	No	Axis Bank
75%	4.59% Fixed	5 Years	2%	£100.00	No	Axis Specialist
75%	3.69% Fixed	2 Years	2%	£125.00	No	Foundation Prime
75%	2.4% Fixed	2017-08-31	2.5%	£150.00	Free valuation	Mortgage Trust Exclusive
75%	3.7% Fixed	2017-08-31	0%	£150.00	Free valuation	Mortgage Trust Exclusive
70%	4.99% Fixed	2 Years	2%	£125.00	No	Foundation Light Adverse

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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.

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Is the Chancellor trying to kill B2L?

Landlords have now had time to consider the Chancellors latest actions of removing the tax breaks for higher tax paying landlords with a mortgage by removing their ability to offset interest payments against their rental profits.

Money Week's Dominic Frisby has asked the question that is this the thin edge of the wedge and an attempt of the Chancellor to kill of buy-to-let.  Certainly, the whole rise of the rental sector flies against the Tories ethos of home ownership.  However, ever the pragmatists the Tories also realise that the buy-to-let sector ticks several boxes.  Firstly, it provides housing for the increasing demand from generation rent who prefer or cannot afford to buy.  Secondly, it's sits with the Tories support and encouragement for entrepreneurship and self sufficiency.  I know anecdotally that many of my compatriots who are looking at retirement in the next 10 years and many sensibly see buy-to-let as an important part of their overall retirement strategy.

Could George Osborne be trying to kill of buy-to-let?  Personally,  I don't think so but clearly this move calls into question the Tories apparent policy inertia in respect to the private rental sector.  It could be that this is an isolated move against high earners and a sop to Generation Rent who were calling for stronger action against landlords. However, it does make you wonder.

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Petition against loss of landlord tax refief

Property Hawk likes a good campaign; so we were obviously keen when asked to support one against the latest budget tax changes.

We are also a little confused by the Chancellors latest move on removing the interest tax relief but only for higher tax payers.  Far from simplifying the tax system it seems like an accountants charter to confuse and complexify something that was fairly clear cut and in my view right.

Landlords - despite many erroneous claims from disaffected groups don't get huge tax breaks.  In fact, much less then other businesses.  We also miss out on the huge tax break that homeowners get when they sell their property.

For these reasons we are happy to add support to this petition calling for the reverse of this tax change.

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Generation Rent - a force for good

Have you heard of Generation Rent www.generationrent.org - a campaigning group who want "professionally managed, secure, decent and affordable private rented homes"? They come at it from the tenants' point of view. But as any sensible landlord will tell you, good tenants are what makes it all work.

Last week I met Betsy Dilner, Director, and Seb Klier, Policy and Campaigns Manager. They are both sensible, committed people, and many Property Hawk users would nod along with their views about letting agents and double charging.

Have a look at their policies web page and you'll see what sense they are talking - the headings are Affordability, Professional Management, Security of Tenure and Decent Living Conditions.

Maybe you will support what they're doing, or feel that it's healthy to have these points raised by someone on the tenants' side. If so, you could join me in giving them some money.

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Landlords can fightback against leaseholders

Landlords can be the victims of other landlords where they have to pay a management company for a service charge. 

Leaseholder being overcharged

We have highlighted before the cases of leaseholders being overcharged.

I have come across numerous cases where leaseholders that could include landlords have fought back against unreasonable  charges.  One of these featured in the Guardian involved a leaseholder who took up a case against Peveril also known as OM, Solitaire or perhaps Cirrus and now rebranded as First Port.  

Escalating service charge a threat to landlords returns

I have highlighted to landlords previously the perils to your investment returns of investing in property where a service charge increases at double the rate of inflation and potentially your rent rises thereby inexorably squeezing your net rental returns.

Leaseholders removing the managing agent or company

The cases above showing leaseholders fighting back proves landlords don't have to accept unreasonable and escalating charges indefinitely. One option open to leaseholders is to remove the management company and replace it with their own.  I owned a leasehold property in a large converted house with approximately 9 apartments in the block.  From memory the monthly charges were incredibly low at something around £27 per month.  The management company was run in a very democratic fashion with each apartment owner having 1 share in the management company.  Clearly, unlike with a commercial management company who have an interest in raising charges if their fees relate to the total costs (or more importantly they don't have an interest in keeping them to a minimum).  This means that the shareholders in terms of the leaseholders are keen for any maintenance work to be kept to the minimum whilst keeping the block looking good.  They are also dead keen on using the best and the cheapest contractors and not keen to give them a 'kick back' for appointing them.

The downside of self management

The downside and clearly there is always a downside; is that not all leaseholders are going to agree on what needs doing and when and how much they want to pay.  This can lead to tension.  Normally, just like any company you will probably appoint a company secretary and various members to the management committee who will be responsible for making the major decisions on behalf of the rest of the leaseholders.  Again this means that any successful leaseholder based management company will need people who will prepared to give up their time for nothing to run the company.  But, this if you think about it is only the same kind of thing that you would need to do if you owned your own freehold place..sorting roof repairs, painting decorating, gardening, etc.

How easy is it to take back control of your leasehold property

Are you disaffected with escalating management charges?  One of the problems is that many management companies don't keep proper accounts and that charges are not transparent in the way they should be.  A recent discussion in a Commons round table looked at the murky world of leasehold service charge accounts. 

Clearly there are considerable legal complications surrounding taking action against an errant freeholder or managing company.  Many are making disproportionate and easy money from leaseholders through a series of 'kickbacks' and scams.  They are not going to give up this 'cashcow' without a fight.  So leaseholders and landlords need to be prepared for a long but ultimately rewarding fight.

Have a look at this forum post for some interesting examples of costs and other leaseholders that have taken action against the management company.

Expert legal advice on leasehold matters

Latest ONS Index Of Private Rental Prices

Latest private rental figures

 The ONS have just released their latest private housing rental prices show that private rents in Great Britain rose by an inflation busting 2.5% in the 12 months to June.

Rent rises in the other parts of the UK were less strong with a 2.1% increase in Scotland and a mere 0.8% up tick in rents in Wales during the same period.

Rents in England were up by 2.5% with the strongest growth being found in London with a 3.8% rise year on year.

The Rent Index now shows that the average rent in England and Wales is just shy of £650 per month up from an average of £570 in January 2008 showing an approximate increase of £10 per year during this 7 year period.

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