£12 billion of BTL transferred from Bradford & Bingley and Mortgage Express

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Computershare has announced the successful transfer of £12 billion of buy-to-let Bradford & Bingley and Mortgage Express mortgages to their new owners.

The transfer follows the sale of the loans to Blackstone and Prudential last year, and the new owners have retained the UK’s largest third-party mortgage administrator to provide a full suite of administration services

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Westminster Council places its own agency on Rogue list!

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Westminster Council have placed its own lettings agency, CityWest Residential, on Sadiq Khan’s Greater London Authority’s register of rogue landlords and letting agents.

CityWest Residential was fined £15,000 after being found in breach of Section 83 of the Consumer Rights Act 2015 for failing to display its letting fees accurately

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Rental complaints system for tenants proposed

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Sajid Javid, the Housing Secretary, has released new plans over the weekend to create a simple complaints procedure for ‘consumers’ (tenants) to gain access to dispute resolution and compensation and indicating tenants should have “a clearer version of redress for their grievances.”

The PRS currently has no compulsory complaints system as there is in industries such as banking with the Financial Services Ombudsman and a two month consultation will consider areas such as:

• A single Housing Ombudsman
• Dispute resolution
• Compensation awards
• Register to name and shame ‘rogue’

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Fraudulent tenant application?

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I think this may have been covered in the past regarding tenants and fraudulent applications. I have a current tenant who used a fake employers letter and fake previous landlady reference to secure the tenancy.

The tenants have also been in the Property nearly 2 months without making any rental payments!

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A Legal Conference for Landlords

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And a discount for Property 118 readers.

This is a difficult time for landlords.  The Government, having woken up to the fact that young people living in overpriced, substandard HMOs are unlikely to vote Tory, are trying to deal with the issue of poor housing in the cheapest way they can –

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Labour plans a tenant’s pet’s charter

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Pets in Lets:

Included in Labour’s plans to abolish the no-fault (section 21) eviction precess is the pledge to give tenants a ‘default right’ to keep pets in their rental properties.

As part of their future manifesto pledge, Labour has said it wants to strengthen the rights of tenants, which will include the automatic right to keep a pet in their properties. This is part of a package of proposed Labour animal welfare measures.

It is common practice for landlord’s tenancy agreements to insist on “no pets”. Although a tenant’s consumer rights would prevent an outright ban on pets, which is deemed an unfair term in a consumer contract, landlords still have a degree of control over the type of pets allowed. For example, a goldfish would obviously bring few objections.

The current situation is that under the 2015 Consumer Rights Act a landlord can only refuse permission for a pet if it is reasonable to do so. This would be for example on grounds of the animal’s welfare and size in proportion to the accommodation, the damage it could cause and its impact for the landlord on future rental prospects.

Tenants therefore must seek permission to keep pets and usually sign an additional pet agreement, which usually involves regular vet checks, injections, and usually a higher deposit amount to cover damage and extra wear and tear. But Labour wants a default automatic right to keep pets, unless there is evidence their pet would cause nuisance.

The National Landlords Association (NLA) has said its members should have the right to refuse tenants with pets, as long as they can justify their actions, especially where it can be shown that the rental is unsuitable for a particularly type of animal.

Accepting that in some situations pets can be in the landlords’ interests, the NLA’s chief executive Richard Lambert has said that: “tenants who keep pets do tend to stay for longer periods of time, and there are a few simple steps that landlords can take in order to mitigate the perceived increased risks” – including insisting on larger deposits.

But as homelessness charity Shelter has pointed out, while it is often difficult for landlords to enforce conditions relating to pets – and tenants often introduce pets without permission – tenants would make themselves at greater risk of eviction if they did that, and were in breach of tenancy agreements.

Labour’s proposal give tenants the default right to keep pets in rental properties has also been met with caution by the RLA.

RLA Policy Director David Smith has said:

“The proposal raises a number of questions which we will work constructively with the Labour Party to address.

“Will landlords be able to charge higher deposits to reflect the increased risks of damage to a property where pets are allowed? Will insurance premiums increase for landlords to reflect the greater risk of allowing pets to be kept as a default position? What happens in shared homes and blocks of flats where one or more of the tenants do not want, or are allergic to, a pet?

“Labour will need to respond positively to all these points if landlords are to have confidence in this suggested policy.”

RLA Vice Chair Chris Town said in a radio interview:

“As things stand, many landlords do allow pets in their properties. If the default situation (as Labour are proposing) is that you cannot control what’s coming into your property, there could be unintended consequences associated with that. Landlords are responsible for the welfare of everyone in the property, not just those with pets.

“Particularity in a HMO, there are lots of other people’s right to consider, not just the rights of the tenant with the pet. For example, other people in the HMO may be allergic to pets or they could work night shifts. Allowing pets also means that landlords have to inspect properties more often”.

“If someone approached me as a landlord for a property, then I would always contact previous landlord and find out from them what the tenant’s behaviour was like at the property, so if they look after a pet, was there any issues with that pet, barking noise etc. If there wasn’t, it would be unreasonable to withhold permission.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Labour plans a tenant’s pet’s charter | LandlordZONE.

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Registration is live for the NEW National Landlord Investment Show at Olympia this March

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Having hosted 15,000 landlords and investors, 600 exhibitors and 180 speakers 2017, the UK’s leading landlord exhibition is heading to Olympia on 15^th March for it’s first show of the show.

Due to the success of its national shows in 2017, three of its shows will now be hosted by Olympia this year, providing solutions, networking and advice for new seasoned and investors in the buy-to-let market throughout the UK.

The Expert Property Panel, launched in 2017, is also back at the March show and is expected to host 450 + landlords and investors at what is the UK’s largest series of landlord debates.

This open panel debate focuses on tax and how landlords can manage their taxes and finances effectively; the afternoon session covers local councils – understanding their processes, legislation and differences in each borough.

Speakers this time include Tony Gimple, Managing Director at Less Tax 4 Landlords, Emma Cox, Sales Director for the Commercial Property Finance Division of Shawbrook Bank and Russell Conway, Senior Partner at Oliver Fisher Solicitors, who is regularly featured on LBC Property Hour. Marie Parris, CEO of George Ellis Property Services, will once again present.

New Council Property Panel announced

Visitors will be able to join a complimentary panel hosted by some of London’s councils to find out about the checks, fees, standards and procedures in each London Borough. Attendance at the panel is complimentary and on a first come, first served basis.

New features including workshops & regional features

National Landlord Investment Show will also be offering workshops for landlords and investors giving advice in areas such as accreditation. There is substantial support from northern powerhouse suppliers from Manchester, Liverpool, Leeds, Sheffield and Newcastle.

Renowned industry suppliers and seminar speakers confirmed

Exhibitors include renowned industry suppliers that can offer advice and service in areas including tax, HMOs, Article 4 and incorporation. This is the perfect opportunity for investors to get advice on what to do about the new tax regulations affecting landlords. Exhibitors include BuyAssociation, Bedford Insurance, Elfin Kitchens. Envirovent, Glide, Howdens Joinery, State Bank of India, Mortgages for Business and The Loan Partnership vital platform for brands to launch new products and services direct to the property market.

Visitors can also keep up-to-date via 37 additional complimentary seminars in the seminar rooms around the show floor.

Shawbrook Bank attests to the importance of the education at the event, “Shawbrook is proud to support the Landlord Investment Show for 2018. We have worked together for a number of years and it has always been important to Shawbrook to partner with organisations that support an educational approach designed to shed light across a variety of important topics including the economic environment and the regulatory landscape”

Visitors can register for the show at landlordinvestmentshow.co.uk

For exhibitor enquiries, please call 020 8656 5075 or visit landlordinvestmentshow.co.uk/exhibit

About Landlord Investment Show

National Landlord Investment Show is the UK’s leading property investment exhibition, providing solutions, networking and advice for new seasoned and investors in the buy-to-let market. Established in 2013 and operating in property hotspots throughout the country, it has now run 54 shows successfully, and has provided property investment solutions for over 20,000 landlords in the last 12 months alone, a growth of 31% since 2015. www.landlordinvestmentshow.co.uk

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Registration is live for the NEW National Landlord Investment Show at Olympia this March | LandlordZONE.

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HMRC to clarify Stamp Duty Surcharge rules finally

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Will I pay the additional 3% Stamp Duty Surcharge?

This is by far the single most commonly asked question to Property118 and it is about time HMRC made the rules far clearer and easier to understand. Even professionals are getting it wrong including solicitors.

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Guarantor but left with Council Tax!

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A tenant who signed a one year contract in November 17 called in January saying she was moving out the following week!

My Letting agent advised the guarantor would have to pay and for me not to worry as the contract would only change when a new tenant takes over the property.

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Necessity to disclose suicide in rental property?

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Unfortunately our long standing tenant recently took an overdose, which resulted in her death. We don’t know if she died in the house or in hospital.

Our rental agent has said that it is a legal requirement to disclose these facts to prospective tenants.

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