We are prepared

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The team of advisers and staff at H D Consultants, long standing mortgage and insurance advisers to the Property118 community, already has a robust business continuity plan and contingency strategy in place, enabling us to be on hand for advice

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Today in politics: Coronavirus, research and electrical safety

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Today we examine Labour calls for a ban on eviction of tenants falling behind on their rental payments due to Coronavirus. We also look at new data claiming more landlords plan to sell up and examine a Lords debate on electrical safety standards. Labour calls for eviction ban The Labour Party has published a proposed […]

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Removal of restriction from leasehold property?

admin    Uncategorized     agents

I am currently trying to get a secure loan against my property. Everything is fine from the loan side my issue is that the property is leasehold and Redrow who sold on my leasehold still have a restriction on my title deed.

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Covid-19 will crash my student BTL business?

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The majority of my BTL portfolio is offered to students. Following the recent switch to online teaching and exams by some universities, I assume that most will soon be instructed to close until after the virus peak, estimated at three to four months.

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BLOG: RLA Wales attends Welsh Conservative conference

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On the first weekend of March, RLA Wales visited the Welsh Conservative Party conference in Llangollen, Denbighshire ahead of next Spring’s Welsh Parliament election. This was meant to be the first of three conferences for the RLA in Wales this month, but the Plaid Cymru and Welsh Labour conferences – meant to be held in […]

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Spouse Property transfers and SDLT?

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I am led to believe spouse property transfers are Capital Gains exempt. I also understand if the property transfer is NIL, there is no SDLT payable.

However, if the property is mortgaged, SDLT is payable on the amount of mortgage transferred.

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Landlord and his relative fined £40,000 over unlicensed properties in Newport

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Jamshed Rana and Omar Rana must now each pay £20,000 plus costs after being found guilty of operating dangerous and unlicensed HMOs.

A landlord and manager of an HMO in Newport have been fined a total of £40,000 by city magistrates for risking their tenants’ lives.

Jamshed Rana, owner and landlord of two properties in Augustus Place (pictured), was found guilty in his absence of operating two unlicensed HMOs and several breaches of safety regulations.

The charges included serious
breaches of fire safety regulations, rooms too small for habitation and exposed
wiring to a hot water heater.

He was fined £20,000 and ordered
to pay costs of £460 plus a victim surcharge of £170.

Relative Omar Rana, of Kimberley
Close, Luton, the manager of the two properties, was found guilty in his
absence. He was also fined £20,000 and ordered to pay costs of £460 plus a victim
surcharge of £170.

Councillor Ray Truman, Newport
City Council’s cabinet member for licensing and regulation, says: “Operating
properties without the necessary fire precautions leaves tenants at serious
risk of death.

“Regulations in relation to HMOs
are there to protect and safeguard tenants so we take seriously any breaches of
the rules. Landlords and property owners have to meet their obligations under
the law, or we will not hesitate to take robust action.”

It follows another successful prosecution by Newport City Council earlier this year when a property management company and its director were fined more than £14,000.

Read more about the private rental market in Wales.

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Call for package of measures from government and lenders

admin    Uncategorized     agents

NRLA are calling for a package of measures from Government and mortgage lenders to support tenants and landlords affected by the Coronavirus.

In a joint statement, the Residential Landlords Association and the National Landlords Association said:

“We are encouraging all landlords to work positively with tenants to provide support where needed throughout this difficult period.

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Should we consider a Capital Account Restructure?

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Dear Property118.

When my husband and I first started investing into rental property in the mid 1990’s we invested £250,000 of our own savings into the business, which has been a Partnership from day one. We subsequently borrowed a further £250,000 to inject into the business

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To install gas central heating or not?

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I have been planning to have gas central heating installed later this year, in a 1st floor, 2 bed flat that I am renting out.

It currently has separate electric heaters and water heater, which are expensive to run.

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