Armed services hit by tax raid on landlords

admin    Uncategorized     agents

Military personnel who rent their homes out whilst stationed away  are being hit by the Government’s tax hikes on private rented housing. A new report out today by the Royal United Services Institute said 59 per cent of married members of the armed services own their own home and for those who rent this out […]

The post Armed services hit by tax raid on landlords appeared first on RLA Campaigns and News Centre.

View Full Article: Armed services hit by tax raid on landlords

Spike in landlords leaving PRS

admin    Uncategorized     agents

ARLA Propertymark April Private Rented Sector (PRS) report.

Landlords selling their buy-to-let

• In April, letting agents saw the highest number of landlords selling their buy-to-let (BTL) properties since records began in 2015. The number of landlords exiting the market rose to five per branch

The post Spike in landlords leaving PRS appeared first on Property118.

View Full Article: Spike in landlords leaving PRS

Crowd funding and technology are changing property investment

admin    Uncategorized     agents

After two successful crowd funding projects, which were aimed at planning gains and considered to be high risk, we are happy to say that the success and the test of time delivered results which led to all investors being paid back with a profit.

The post Crowd funding and technology are changing property investment appeared first on Property118.

View Full Article: Crowd funding and technology are changing property investment

Housing Stock Trend reflects recent decline in Buy-to-Let

admin    Uncategorized     agents

Housing Stock England:

Figures just released from the Ministry of Housing, Communities and Local Government (MHCLG) in their Dwelling Stock Estimates 2017, England, report, show the latest available view of the housing market in England.

The figures represent estimates of the number of dwellings in England in each local authority district based on the 2011 Census, after applying net changes to the housing stock.

Estimates for Scotland, Wales and Northern Ireland, Great Britain as a whole and the UK are also available in the live tables on the MHCLG website.

These latest available official figures show a fall in the number of private rented sector homes available for letting, which might suggest that some landlords have been deterred following when the recent restrictive tax changes taking effect.

An important question arises; have even more landlords decided to quit the sector since the period after these figures, over the last year?

The national estimates as at March 2017:

• There were 23.9 million dwellings in England at 31 March2017, an increase of 217,000 dwellings (0.92%) on the same point the previous year.
• 1 million dwellings were owner occupied dwellings, 4.8 million private rented dwellings and 4.0 million social and affordable rented dwellings (Private Registered Providers plus Local Authority).
• Between March 2016 and March 2017, the owner occupied dwelling stock increased by 262,000 and the private rented stock decreased by 46,000. The social and affordable rented stock increased by 3,000 dwellings and the other public sector stock decreased by 1,000 dwellings.
• There were 605,891 vacant dwellings in England on 2 October 2017, an increase of 16,125 (2.7%) from 589,766 on 3 October 2016. Vacant dwellings are 2.5 per cent of the dwelling stock.
• Long-term vacant dwellings numbered 205,293 on 2 October 2017, an increase of 5,148 (2.6%) from 200,145 on 3 October 2016. Long-term vacant dwellings are 0.9 per cent of the dwelling stock

Showing a consistency between these and The English Housing Survey, these statistics show a quite alarming level vacant dwellings in England on October 2, 2017, at 605,891, representing 2.5% of dwelling stock and an increase of 16,125 (2.7%) from 589,766 on a year earlier.

Source MHCLG

Private rented stock declined by around 46,000 homes after many years of increases. Could this be the result of the 3% stamp duty surcharge on second homes, and the four-year phased-in abolition of mortgage interest relief?

Read the full report here:

Dwelling Stock Estimates: 2017, England

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Housing Stock Trend reflects recent decline in Buy-to-Let | LandlordZONE.

View Full Article: Housing Stock Trend reflects recent decline in Buy-to-Let

Forum Spotlight: Tenant in joint contract wants to leave early

admin    Uncategorized     agents

When renting to students or a group of friends living in a HMO, it is common for the landlord to issue a joint tenancy agreement. This week’s Forum Spotlight looks at a question by a landlord, over what to do about a student that wanted to leave a contract, and was being challenging. The situation […]

The post Forum Spotlight: Tenant in joint contract wants to leave early appeared first on RLA Campaigns and News Centre.

View Full Article: Forum Spotlight: Tenant in joint contract wants to leave early

Planning permissions for extended HMO Licensing?

admin    Uncategorized     agents

In October mandatory licensing is being extended to include all 3 storey HMO’s and all HMO’s with 5 or more occupants living there as 2 or more households. This affects small HMO’s eg student houses. Unfortunately I will now have to get a couple of properties licensed. 

The post Planning permissions for extended HMO Licensing? appeared first on Property118.

View Full Article: Planning permissions for extended HMO Licensing?

Call of the Week- ending a tenancy early letter

admin    Uncategorized     agents

Questions about ending tenancies are pretty common for our Landlord Advice Team. This week, a landlord used our live chat service, which launched last year, to ask a question about a tenant who wished to end the tenancy early. Both the landlord and the tenant were in agreement that they wanted to end the tenancy […]

The post Call of the Week- ending a tenancy early letter appeared first on RLA Campaigns and News Centre.

View Full Article: Call of the Week- ending a tenancy early letter

Specialist first and second charge loan solutions

admin    Uncategorized     agents

Property Finance:

Specialist first and second charge loan solutions on buy to let properties for none mainstream applicants.

Lending Expert offer a range of specialist funding solutions for buy to let applicants who don’t fit the normal mainstream lenders application requirements.

If you wish to finance a buy to let property on either a first or second charge loan basis then this product offers flexibility and opens up further funding options. If you have previously been declined funding by your mainstream mortgage lender, or if you’re a broker finding it difficult to place a client then this product may provide a suitable solution.

Applicant Types Accepted:

• Unemployed buy to let mortgage applicants without proof of income
• Applicants who are in receipt of benefits or out of work
• Applicants who are retired or pensioners over the age of 65
• Applicants who have adverse credit such as CCJ’s, IVA’s, defaults, missed payments and a low credit score. Discharged bankrupts also considered.
• Applicants who are first time buyers or who have little credit or mortgage history
• Applicants who are self-employed without proof of income or who only have limited accounts available
• Applicants and business owners who are newly self-employed and have less than 2 years of accounts
• Applicants who cannot show proof of rental income, and where a copy of the tenancy agreement is acceptable only.
• Portfolio landlords and those who own multiple BTL properties
• Applicants who are a director and need a limited company buy to let mortgage
• Applicants who have a family member willing to provide a 25% gifted deposit
• Ex pat landlords
• Landlords up to 80 years of age on application

https://www.lendingexpert.co.uk/mortgages/buy-to-let/no-proof-of-income

Property Types Accepted

• Residential buy to let property including ex-council houses, flats, maisonettes including High Rise property, HMO & Non Standard Construction properties
• Semi Commercial property including loans for flats above shops

Key Criteria

• Rental Income from 125% – rental income must cover the new Buy to let mortgage by 125% for basic rate tax payers. Additional provable income can supplement a shortfall in rental coverage if that is required.
• Loans from £10,000 – £1,000,000
• Ex-pats landlords accepted
• Equitable charges available
• First and Second charge loans available
• 75% loan to value
• No minimum valuation
• No minimum 6 months ownership rule.
• No minimum income criteria – can have self-employed less than 12 months

Trading, retired or employed clients on low incomes.

• Adverse Credit – over 12 months old ignored from a pricing point of view
• Adverse Credit – under 12 months old considered
• No mortgage history required so First Time Buyers are considered
• Limited Company enquiries considered
• 25% Family Gifted Deposits paid also considered
• No credit check is required
• Up to 80 years of age at application

INSTANT FINANCING

This product allows for instant financing of any type of buy to let property regardless of how long the applicant has owned the property. There is no 6 month ownership rule and is an ideal solution for applicants who wish to raise a loan against inherited properties, and those who need immediate buy –to-let refinancing from a short term bridging loan.

You if you would like to learn more or request a quote you can contact Lending Expert on our secured loan pages here: https://www.lendingexpert.co.uk/loans/secured/buy-to-let/ alternatively you can speak with a CeMap qualified advisor on 0161 820 8099.

LENDING EXPERT

Lendingexpert.co.uk is a credit broker regulated by the financial conduct authority. Their expert brokers and advisors can offer finance solutions from £3,000 to £5,000,000 for a wide range of reasons and solutions including business use, buy to let, debt consolidation and home improvements. Loans available up to 100% LTV with additional security provided.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Specialist first and second charge loan solutions | LandlordZONE.

View Full Article: Specialist first and second charge loan solutions

405 Right to Rent fines issued by Home Office

admin    Uncategorized     agents

Figures from the Home Office indicate 405 fines have been handed out to landlords in total during the government’s ‘hostile environment’ crack down on illegal immigration (see diagram to the right).

The total cost of these penalties to landlords came to over £265,000.

The post 405 Right to Rent fines issued by Home Office appeared first on Property118.

View Full Article: 405 Right to Rent fines issued by Home Office

Deposit problem after agent stopped trading?

admin    Uncategorized     agents

A tenant has recently vacated my property which was rented through a letting agent. The letting agent stopped trading during the duration of the tenancy and its now come to light that they didn’t lodge the deposit with the DPS as was stated on the tenancy agreement.

The post Deposit problem after agent stopped trading? appeared first on Property118.

View Full Article: Deposit problem after agent stopped trading?