40% of PRS is likely to fall short of proposed minimum EPC reqiurements

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Propertymark has analysed data from the latest English Housing Survey and is warning the market that 40% of the English PRS are likely to fall short of EPC rating targets currently proposed to come into force later this decade.

View Full Article: 40% of PRS is likely to fall short of proposed minimum EPC reqiurements

Advice for Landlords: Don’t look back in anger

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Hindsight can be a wonderful thing, can’t it? When you look back at a smart decision you made and see how well it’s worked out for you. But it can also be painful, when you look back at a decision that you regret, that hasn’t worked out well at all.

Hindsight is even better when you can look back and see how well you read the signs, and how carefully you weighed your options, to make that smart decision. But it’s even more painful when you look back and see that the warnings were there all around you, and you simply ignored them and made the wrong choice as a result.

So what will hindsight hold in store for you as the landlord rental market changes radically around you and property prices start to fall? Will you be patting yourself on the back, or will you be licking your wounds?

It’s a no-brainer

“Looking back at my own decision to sell my property portfolio, I have absolutely no regrets,” says CEO of Landlord Sales Agency, David Coughlin. “I could see that the property market was reaching a peak and that profits were there to be taken. I could also see that in the post-Covid economy, those property prices were not going to last long. Add in the ever-increasing regulations on landlords and the changes to tax legislation, and selling was a no-brainer. With hindsight, it was the best decision I ever made.”

David isn’t the only one cashing in before they miss out. Landlord Sales Agency helped one Hastings landlord sell twenty-four flats for £2.256 million in just nine days. Another, who initially asked Landlord Sales Agency to sell 35 of his properties, was so pleased with the speed and simplicity of the service, that he handed over the rest of his 200+ property portfolio for them to do the same.

Time for you to sell too

As they count their cash and enjoy their freedom from the stress of the new property rental regime, they’re all looking back at a good decision, well made. The question you need to ask yourself, is what will hindsight be like for you? Will the next year bring you relief or regret?

The profits are certainly there to be taken, with markets at an all-time high, but the warning signs are there too. All the experts expect growth to slow, or even reverse in the coming months, with the potential for a property market crash, or at the very least a significant adjustment. By the time this starts to happen, it will be too late to cash in. Prices will be dropping, and if past cycles are anything to go by, they won’t be as high again for around seven years.

Cash in or pay out

Miss the boat on leaving the market and those seven years could be very expensive, as David Coughlin explains: “Given the choice between money in the bank, with the chance to lose the headaches and retire, or all the money landlords are going to have to fork out as the government makes things tighter and tighter, I’d pick cashing in every time – especially when the Landlord Sales Agency makes it so simple.”

You can join David, and dozens of other landlords who have taken their profits quickly and easily with the help of the Landlord Sales Agency. They can take on your entire portfolio and sell it within 28 days for up to 95% of the market value. Not only that, but they will take care of everything on your behalf, from dealing with existing tenants to organising any repairs and refurbishments that are needed to sell. You just sit back and wait for the money to arrive in your bank.

Given that property prices have risen by around 13% in the past year alone, it’s a small price to pay to cash in at the top of the market in such a swift and stress-free way.

How do you want to feel?

So, what will hindsight be like for you in six months’ time? Will you be kicking off your shoes on a cruise, enjoying the rewards of your past investments? Or will you be kicking yourself until you bruise, as the markets collapse around you and your costs rise every month?

“We’ve had a good run of it,” says David. “it’s now time to take the lump sum, retire and relax. There’s not much time left to sell at the best price, but you’ll have plenty of time to regret it if you don’t.”

To find out how you can cash in quickly and easily on your property portfolio, contact the Landlord Sales Agency today.

Looking back, it will be the best call you ever made.

Contact us now to find out how we can help you sell your portfolio fast.

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View Full Article: Advice for Landlords: Don’t look back in anger

‘Don’t panic’ as BTL mortgage rates rise, urges financial expert

admin    Uncategorized     agents

A mortgage expert has urged landlords not to panic as buy-to-let mortgage rates continue to rise.

Dan Lee (pictured) of Total Landlord Mortgages says he’s seen increasing number of landlords getting cold feet about taking on new debt as interest rates rise across the mortgage board.

His comments follow research by Less Tax For Landlords, which showed that a privately-owned portfolio with £2m worth of mortgages secured against it charging a two per cent rate of interest, earning a gross rental yield of £240,000 annually with £48,000 of tax deductible expenses would produce a net profit of £92,344 based on 2021/22 tax year rules.

If the same portfolio remortgaged onto a rate of 3.75 per cent, net profit would almost halve to £50,344, it claims.

“Obviously there’s a lot of doom and gloom out there right now and everyone is stressing about rising interest rates”, says Lee.

Two decades

“But my two decades or more of experience in the mortgage teaches me that rates are not high – they are just returning to a realistic level.”

Lee says that landlords have become used to paying the rock bottom interest rates that were introduced following the financial crash of 2008 and kept low ever since artificially by the Bank of England, including after Covid.

“I have been reassured that the bank would never allow mortgage interest rates to reach eight or nine percent that they hit during the late 1980s and early 1990s,” says Lee.

“And remember that buy-to-let rates hit nearly 7.5% for a 75% LTV mortgage in 2008/9 before the global financial crash.

“While the government would never step in if there were a stock market crash, they would if mortgage interest rates began to rise significantly, because we’re all so much more in debt than we use to be.

“So I think mortgage rates for BTL will peak at about four or five percent.”

Lee says talk of a property crash is also misleading – because the ‘unnatural growth’ in the market created by cheap mortgages, alongside huge competition for limited stock, pushed up prices by 20% in some areas, and that a correction is bound to happen.

Read more about landlord mortgages.

View Full Article: ‘Don’t panic’ as BTL mortgage rates rise, urges financial expert

Cladding repairs needed to remortgage?

admin    Uncategorized     agents

Has any leaseholder, coming to the end of their mortgage term, been able to re-mortgage with a B2 defective fire risk assessment applied to their building?

Further, the landlord is still holding out ‘waiting’ for Government clarification as to who will pick up the bill on a building over 11m tall

View Full Article: Cladding repairs needed to remortgage?

Rogue landlady faces jail over long-running campaign of violence against tenants

admin    Uncategorized     agents

A rogue landlady has been convicted of illegally evicting tenants during a decade-long campaign of violence, theft and vandalism.

Sohila Tamiz, of Flint Lane, Lenham, even helped organise a gang of 10 to douse one man in petrol and smash his teeth, the trial at Canterbury Crown Court heard.

Tenants at flats in Athelstan Road, Margate, saw locks changed, toilets broken, flooring removed, electricity sabotaged and masked men ordering them to leave between 2011 and 2021.

Some were forced to go without heating and evicted after falsely having drugs pinned on them.

In what Thanet Council believes is the largest prosecution of its kind for eviction offences, Tamiz was found guilty on five counts of conspiring to unlawfully evict a tenant, eight counts of conspiring to, or interfering with, the peace or comfort of a residential occupier, and one count of conspiring to burgle.

Unlawful eviction

Her son Pedram Tamiz was found guilty of two counts of conspiring to unlawfully evict a tenant, and five counts of conspiring to, or interfering with, the peace or comfort of a residential occupier.

Enforcer Adam McChesney, of Gloucester Avenue, Margate, was found guilty of two counts of conspiring to unlawfully evict a tenant, and three counts of conspiring to interfere with the peace or comfort of a residential occupier.

Agent Kasem El Darrat, of Athelstan Road, Margate, was found guilty of one count of conspiring to unlawfully evict a tenant, and one count of conspiring to interfere with the peace or comfort of a residential occupier.

Read more: How to handle the evictions process.

Councillor Jill Bayford, cabinet member for housing, says: “We hope that this outcome sends out the serious message to other landlords in the district and further afield that criminal activity, or any intimidatory or threatening behaviour towards tenants, will not be tolerated, but will instead be routinely prosecuted.”

The council is now gathering victim statements ahead of sentencing, which is due to take place on 10^th October.

Read more about Margate.

View Full Article: Rogue landlady faces jail over long-running campaign of violence against tenants