Online Super-Show Tuesday 3rd November with over 1200 minutes of free content!

admin    Uncategorized     agents

Over 2000 landlords took part in our inaugural online show for the Midland and Manchester areas on the 8th October. Now, our attention turns to the national show on Tuesday 3rd November where we are expecting an even bigger event.

The post Online Super-Show Tuesday 3rd November with over 1200 minutes of free content! appeared first on Property118.

View Full Article: Online Super-Show Tuesday 3rd November with over 1200 minutes of free content!

Banks and building societies agree with regulators to extend mortgage holidays

admin    Uncategorized     agents

Banks and building societies have agreed with regulators and HM Treasury to extend the provision of mortgage payment deferrals of up to a maximum of six months in the light of the tightened Covid-19 restrictions announced by the Prime Minister this evening.

The post Banks and building societies agree with regulators to extend mortgage holidays appeared first on Property118.

View Full Article: Banks and building societies agree with regulators to extend mortgage holidays

Furlough scheme and mortgage holidays extended plus additional business grants

admin    Uncategorized     agents

Chancellor, Rishi Sunak, confirmed the Coronavirus Job Retention Scheme has been extended for a month with employees receiving 80% of their current salary for hours not worked along with further economic support announced for Lockdown part 2.

The government’s Coronavirus Job Retention Scheme also known as the Furlough scheme will remain open until December

The post Furlough scheme and mortgage holidays extended plus additional business grants appeared first on Property118.

View Full Article: Furlough scheme and mortgage holidays extended plus additional business grants

Top eviction experts to give advice at tomorrow’s free National Landlord Investment Show

admin    Uncategorized     agents

Evictions have become the defining topic of Covid for tens of thousands of residential landlords who have tenants in rent arrears as the government and courts have restricted the evictions process.

And three of the key experts in the field are to gather tomorrow online at the Landlord Investment Show to tackle the topic head on.

Landlords wishing to attend the seminar, which is at 9.45am tomorrow morning (Tuesday 3^rd November) and lasts for an hour can log-on for free if they register as a delegate with the show.

The three speakers are Paul Shamplina, founder of Landlord Action and Tim Frome, the company’s legal director. They will be joined by John Stewart, the Deputy Director of Policy and Research at the National Residential Landlords Association (NRLA).

This trio, who between them have a combined 60 years’ or more experience working in the private rented sector, are to discuss the latest developments in arrears, evictions and the courts.

Landlords face unprecedented challenges since the pandemic struck as the government has sought to prevent evictions, including most recently extending the notice period to six months.

Paul (left), Tim and David will discuss what options landlords with rent arrears or anti-social tenants have, and the extended time lines involved.

“Tim and I are honoured to have a slot at the Landlord Investment Show which this year is online only due to the Covid restrictions,” says Paul.

“Understanding what the government’s changes mean for landlords can be an uphill struggle, so we hope to help those attending get a better grip on the latest developments – including what the new lockdown could mean for evictions between now and Christmas.”

Sign up to watch.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Top eviction experts to give advice at tomorrow’s free National Landlord Investment Show | LandlordZONE.

View Full Article: Top eviction experts to give advice at tomorrow’s free National Landlord Investment Show

Can I get a discount for early redemption?

admin    Uncategorized     agents

I have some decent mortgages with CCL, Rosinca and others (1.5% above base rate) and have enough properties to fill my time and needs.

I now have the ability to repay all the mortgages (they have between 5 and 10 years remaining) and wonder if anyone has experience of gaining a discount in the settlement figure for early repayment as it moves the low margin deal off their books.

The post Can I get a discount for early redemption? appeared first on Property118.

View Full Article: Can I get a discount for early redemption?

LATEST: Rental market to stay open during the new lockdown

admin    Uncategorized     agents

The rental market is to remain open during the new month-long lockdown due to start on Thursday, housing secretary Robert Jenrick revealed over the weekend.

The announcement was made during a slew of social media posts by the politician including that renters will be able to move, removal firms and letting agents can continue to do their jobs and that property maintenance and repair contractors will be able to enter properties.

Also, tenants and landlords will be able to conduct home moves regardless of whether they have been agreed before or after the start of the lockdown, in effect enabling an unfettered private rental market, albeit under strict Covid health and safety rules.

The official guidance on moving home has not been changed this morning and therefore viewings of rented properties will be allowed.

Lesson learned

This suggests that the government has learned from its lessons during the first lockdown, when all house moves were halted. Ministers have since said that home moves are too important a part of the economy to be restricted.

“Mark Hayward, Chief Executive, NAEA Propertymark, says “We welcome the news that the housing market is to remain open throughout this second lockdown period, and it is essential that all agents continue to play their part in reducing the spread of the virus through following all relevant guidance.

Landlords can heave a sigh of relief for two other reasons. Both the ‘mortgage holiday’ and the furlough schemes (which was due to end today) are to be extended for the duration of the new lockdown and in the case of the mortgage holiday for new applicants, for a further six months.

“It’s worth reminding ourselves that this isn’t quite the ‘holiday’ that everyone thinks it is – it’s not a freebie, payment is deferred but still due, often to the detriment of obtaining future credit,” says Ben Beadle, Chief Executive of the NRLA (left).

Watch tomorrow’s industry webinar (December 2nd) to see what key industry leaders including Ben Beadle think of the new lockdown.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Rental market to stay open during the new lockdown | LandlordZONE.

View Full Article: LATEST: Rental market to stay open during the new lockdown

Why didn’t my accountant tell me about this?

admin    Uncategorized     agents

Series two, Episode one of Property118 TV has just been released.

Grab yourself a cuppa and within just 12 minutes and 27 seconds exactly you’re about to feel how neanderthal men felt when they first discovered fire.

You will learn how Limited Companies can be structured in a SMART way for both income tax and inheritance tax planning.

The post Why didn’t my accountant tell me about this? appeared first on Property118.

View Full Article: Why didn’t my accountant tell me about this?

TRENDING: Struggling hotels begin converting into HMOs to survive

admin    Uncategorized     agents

A woman hoping to convert her 32-bedroom hotel into an HMO after being hit hard by Covid could spark a trend for more owners moving into the private rented sector.

Andreani Ahooie, who’s run the Longview Hotel in Knutsford (pictured) for 18 years, applied to turn the hotel into a six-bedroom home when bookings dried up.

She says she hasn’t made the decision lightly, but that its core clientele – corporate customers – have all but disappeared overnight.

“In a bid to retain some of our livelihood, we had no other choice but to look at alternative uses that allow the business to remain afloat,” says Ms Ahooie.

The National Residential Landlords Association tells LandlordZONE that anecdotally, it’s seeing some evidence of housing in the short-term lets market returning to the traditional private rented sector, mostly in inner London.

John Stewart, deputy policy director, says: “Whilst we have no firm evidence to prove it, we would not be surprised to see some independent hotels seeking to move to the rental market given the impact that COVID-19 has had on the hospitality industry. 

However, those considering doing so should be sure that they understand fully the complexities of managing an HMO.”

Some, like Ms Ahooie, might find they plans are met with opposition; Knutsford Town Council has already objected, citing fears of, “an unneighbourly relationship with the adjacent property”, while residents have raised concerns over parking.

She insists that she’ll only accept single tenants and will carry out checks using an independent management company, while drivers could use the hotel’s existing parking spaces.

Read more about HMOs.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – TRENDING: Struggling hotels begin converting into HMOs to survive | LandlordZONE.

View Full Article: TRENDING: Struggling hotels begin converting into HMOs to survive

Landlady forced to sell rental property after failing to pay fine

admin    Uncategorized     agents

A rogue landlady who ignored improvement notices to make urgent repairs has been handed a charging order, forcing her to sell the property.

Alle Sabboth failed to do the necessary work on her house at 5 Markham Close, Northampton (pictured), and then didn’t pay a £12,400 fine. While she can rent out other properties in future, Northampton Council says it could seek a banning order preventing her from permanently being a landlord if she commits a repeat offence.

Housing enforcement officers first inspected the property in December 2018 and found a long list of hazards including faulty door locks, inadequate plug sockets and holes in the ceiling.

They issued an Improvement Notice, but when officers went back to the property a month later, discovered her tenants were still living in the same hazardous conditions because Sabboth hadn’t done any of the work.

They handed her a fine in January 2020, which she didn’t pay and then later appealed against. However, this was refused as it was months past the deadline and she hadn’t given a good reason for the delay. Her tenants will also now be able to apply for a rent repayment order.

Councillor Stephen Hibbert (pictured), cabinet member for housing, says it’s taking a hard line against landlords who don’t take their responsibilities towards tenants seriously.

He adds: “Unbelievably, this is not the worst property we have investigated and taken action against, which is why I strongly urge landlords to ensure they are fulfilling their duty of care to their tenants.”

Read more about landlord fines.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Landlady forced to sell rental property after failing to pay fine | LandlordZONE.

View Full Article: Landlady forced to sell rental property after failing to pay fine

Protect Your Wealth In Property In 2021

admin    Uncategorized     agents

In turbulent times it’s more important than ever for property investors to protect their property wealth through effective tax planning.

For this, an understanding of smart property company structures is essential to mitigate inheritance tax and provision for the next generation.

The post Protect Your Wealth In Property In 2021 appeared first on Property118.

View Full Article: Protect Your Wealth In Property In 2021