Stamp on 50% inheritance buy out?

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I have been left 50% of a property in a Will with the other half to my brother. We both own our own homes.

I want to buy him out and he is happy to gift my wife his half for now to get out of paying any stamp duty (this gets the property into joint names).

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Disrepair Claims Farmers should concern us all

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This is something I’ve been mulling over for a while, and have sounded off about in conversations, but the ongoing proliferation of housing disrepair claims farmers (and associated solicitors) has pushed me to go public with something of a rant.

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Rate watch: Five-year fix drops four basis points

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The average five-year fixed rate has fallen by four basis points, dropping from 2.83% to 2.79%, according to data collected by Moneyfacts.

Looking at the average two-year fixed rate, it has fallen for the first time since the start of July

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Sajid Javid and Boris listened!

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Sajid Javid and Boris have been reading Property 118 and has just announced £600 million input into 50,000 new homes in Essex and Bedfordshire. The Country has been building 150,000 annually and this additional 50,000 represents a third more based on one year!

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£600 million of new investment for housing

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Up to 50,000 new homes in high demand areas will be delivered through over £600 million of new investment for housing in England, the Chancellor, Sajid Javid, announced Saturday 17 August. The funding will be made available through the Housing Infrastructure Fund (HIF)

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Sajid Javid backtracks on Stamp Duty proposal

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The current Chancellor of the Exchequer Sajid Javid has backtracked on proposals mad by PM Boris Johnson in his Tory leadership campaign to make Stamp Duty payable by the seller rather than the purchaser of a property.

In an interview given to the Times newspaper Javid said: “I’m looking at various options.

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£200 outstanding bill on prepayment/key meters?

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I eventually managed to evict a non-paying tenant using a section 8. However, it now turns out that they left an electric and gas bill of nearly £200 outstanding before they left.

How it is possible to run up a bill like that when both meters are prepayment/key meters?

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Claims that Section 21 is leading to homelessness plain wrong, says NLA

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Section 21:

The Section 21 possession process is set to be abolished
amid claims that it is a leading cause of homelessness. Negative publicity
surrounding no-fault evictions has long blamed the rise in homelessness on
Section 21 evictions, and this has been a major plank in the government’s
argument that accelerated possession needs to be abolished.

The National Landlords Association (NLA) however says claims that landlords’ use of the section 21 “no fault� eviction notices is the leading cause of homelessness in the UK are “factually incorrect, misleading and just plain wrong�, and it says it is taking the landlords’ case to direct to No. 10.

Research carried out by the landlords’ membership
organisation, representing 41,000 UK landlords, using the Government’s own
statistics*, found that of 33,020 households assessed by local authorities
between October and December 2018, just 11.8 percent (3,890) of those faced
homelessness as a result of being served with a Section 21 notice.

The data shows that the main reason why people become
homeless is that they have been living with relatives who decide they are no
longer willing or able to accommodate them, claims the NLA.  

Rent arrears comes high up on the scale of reasons why
tenants are evicted and become homeless, with around 29% of tenancies ending in
this way. Otherwise, the second most common reason is when a tenancy comes to
an end, including tenancies that are ended using the fault-based Section 8
process, and also when tenants abandon the property.

Previous research**, says the NLA, finds that landlords
resort to Section 21 primarily when their tenants fall into rent arrears or engage
in antisocial behaviour.

Richard Lambert, CEO of the NLA, says:

“Claims by the Government and tenant support groups that
Section 21 is the leading cause of homelessness are not supported by the
available evidence. They are factually incorrect, misleading and just plain
wrong. No reasonable landlord would seek to evict a tenant without good cause.

“Most evictions are a symptom of wider issues, such as the
freeze on local housing allowance, insecure jobs, and the lack of support for
vulnerable tenants to sustain private tenancies successfully.  The increase in the use of no-fault evictions
through Section 21 is because landlords simply don’t have faith in the courts
being able to deal with eviction cases, however justified their reason.

“That’s why we’re appealing directly to the Prime Minister
to save section 21. Landlords are running businesses and have very few options
when it comes to managing the risks they face. The focus should instead be on
fixing the issues that contribute to this risk.â€� 

*MHCLG Initial
Assessments of Statutory Homelessness Duties Owned

**Research conducted
by YouGov Plc on behalf of the NLA. Total sample size was 3,088 Landlords in
England and Wales. Fieldwork was undertaken between 21st – 27th December
2018.  The survey was carried out online.

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