Mark Smith (Barrister-At-Law) Landlord tax planning strategies – Swansea

admin    Uncategorized     agents

Our Hon. Legal Counsel, Mark Smith, Head of Chambers at Cotswold Barristers will be presenting an overview of several landlords tax strategies at the pin Swansea Meeting property networking event Thursday 23rd May 2019.

The event will start at 6:00pm until 9:00pm and will be free for guests of Mark Smith that have not previously attended a pin meeting.

The post Mark Smith (Barrister-At-Law) Landlord tax planning strategies – Swansea appeared first on Property118.

View Full Article: Mark Smith (Barrister-At-Law) Landlord tax planning strategies – Swansea

Reconsider Gas Safety Regulations alongside changes to Section 21

admin    Uncategorized     agents

Many of you will be aware of the Caridon Property Ltd v Monty Shooltz case.  In short, the landlord, Caridon Property, failed to obtain a possession order based on their Section 21 notice, because His Honour Judge Jan Luba QC ruled that that the requirements of the Deregulation Act 2015 meant their failure to issue a gas safety certificate before the tenancy began invalidated the subsequent Section 21 notice for repossession.

The post Reconsider Gas Safety Regulations alongside changes to Section 21 appeared first on Property118.

View Full Article: Reconsider Gas Safety Regulations alongside changes to Section 21

Insurance invalid after fire due to family member?

admin    Uncategorized     agents

I have a buy to let mortgage and landlords insurance and when I initially took out the mortgage I did not intend to let to a family member,

I have since let to my wife’s sister and the property has had a major fire

The post Insurance invalid after fire due to family member? appeared first on Property118.

View Full Article: Insurance invalid after fire due to family member?

Home Office Right to Rent post Brexit update

admin    Uncategorized     agents

The Home Office have this week 13/05/2019 issued an update to its Right to Rent guidance: click here.

In summary regardles of the outcome of Brexit, deal or no deal, there will be no change to the Right to Rent requirements until 1st January 2021 for EU

The post Home Office Right to Rent post Brexit update appeared first on Property118.

View Full Article: Home Office Right to Rent post Brexit update

Ex-partner removed by social services – New AST?

admin    Uncategorized     agents

I have a family (2 parents & 2 children) renting one of my properties. They are now on a periodic tenancy as the initial tenancy came to an end some months ago.

I received a text from one of the parents asking if it was possible for the other parent to be removed from the tenancy agreement as they have recently been removed from the property by social services and they don’t want to give them any reason for them coming back to the property.

The post Ex-partner removed by social services – New AST? appeared first on Property118.

View Full Article: Ex-partner removed by social services – New AST?

Greater rewards in the north for landlords…

admin    Uncategorized     agents

Rental growth:

With London rents growing at a pace which barely moves the
needle, healthy growth is being achieved further north, and particularly in
Scotland.

Over the past 12 months, London rents have slowed to a
crawl, with a disappointing across the capital average of 0.66 per cent
recorded to April. Contrast that with Scotland where the UK’s highest
year-on-year rental growth was recorded, with Edinburgh rents increasing by 5.44
per cent and Glasgow by 2.59 per cent. Overall, the average rental growth
across Scotland over 12 months was 1.74%, that’s according to Landbay’s Rental
Index.

Rents in London last month were averaging £1,906, which
compares to the UK’s nationwide figure of £1,218. In Scotland the average rent
is £750, slightly less than the UK’s average excluding London at £773, clearly
on the up, with Edinburgh City’s rental growth the highest of any region in the
UK year-on-year.

Chief executive and co-founder of Landbay, John Goodall, has
commented:

“Landlords can rest assured that there is decent rental
growth to be found across the UK, particularly if they look north of London.

 â€œOn the face of it,
landlords have had a tough time in the past few years, from increased
regulatory pressure to a significant increase in stamp duty costs, yet they
have managed to shoulder many of these costs without passing them onto tenants.

“For brokers, this provides them with the opportunity to
give expert advice to their clients about changing elements of the housing
market and which areas have the most potential in the coming months.�

In Wales rental growth was the second highest at 1.26 per
cent, but rents are lower in Wales at an average of £658. Merthyr Tydfil saw the
second highest rental growth in the UK at 4.65 per cent, while Blaenau Gwent
was third at 3.92 per cent. In fact no Welsh region fell in the list of the 30
areas of lowest annual rental growth in the UK.

In England, Nottingham saw the highest rate of rental growth
at 3.84 per cent, with Rutland and Leicester at 2.56 and 2.33 per cent
respectively.

Overall, the East Midlands achieved a slightly higher growth
rate as a region at 1.98 per cent than the overall average in Scotland.

But the north does not have it all: the West Country shows
an exception to the north – south rental growth divide. North Somerset and
South Gloucestershire in the South West, both show above average growth at 2.39
and 2.25 per cent respectively, with a regional average growth at 1.24 per cent.

In general, says Mortgage
Introducer, landlords looking for rental growth in London may struggle, with
average growth of just 0.66 per cent. For those determined to find rental
growth in London, Islington may be the best bet, with year-on-year growth of
1.64 per cent.  Wandsworth achieved 1.43
per cent and Southwark 1.35 per cent, all contrasting with falls at the top end
with Kensington and Chelsea at -0.21 per cent and Westminster at -0.02% per cent.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Greater rewards in the north for landlords… | LandlordZONE.

View Full Article: Greater rewards in the north for landlords…

Mark Smith (Barrister-At-Law) Landlord tax planning strategies – Berkshire

admin    Uncategorized     agents

Our Hon. Legal Counsel, Mark Smith, Head of Chambers at Cotswold Barristers will be presenting an overview of several landlords tax strategies at the pin Berkshire Meeting property networking event Monday 20th May 2019.

The event will start at 6:00pm until 9:00pm and will be free for guests of Mark Smith that have not previously attended a pin meeting.

The post Mark Smith (Barrister-At-Law) Landlord tax planning strategies – Berkshire appeared first on Property118.

View Full Article: Mark Smith (Barrister-At-Law) Landlord tax planning strategies – Berkshire

Monthly Bridging Loan rates fall to average 0.74% Q1 2019

admin    Uncategorized     agents

Bridging Trends has reported its lowest recorded average monthly Bridging Loan rate across the market since 2015. Across its surveyed lenders the average pricing for monthly interest is now down to 0.74% for Quarter 1 2019 and this is down from 0.8% in the last Quarter of 2018.

The post Monthly Bridging Loan rates fall to average 0.74% Q1 2019 appeared first on Property118.

View Full Article: Monthly Bridging Loan rates fall to average 0.74% Q1 2019

Reducing the risks of flooding for properties

admin    Uncategorized     agents

Depending on what part of the country you own a property in,
the more at risk you are when it comes to flooding. Places like Cumbria and
North Yorkshire have had awful floods in rainy times for a long time. Venturing
down south in the UK, you are at less of a risk but there still exists the risk
you could be affected by flooding, so it is always best to be safe rather than
sorry. 

According to official statistics, over 5 million homes are
at risk of flooding across the UK. With this figure in mind, it is vital that
homeowners are well informed about how they can work to reduce the risk of
their property flooding or what to do if their property does flood beyond their
control.

Also, with the risk that without the right protection
against flooding, lenders are unlikely to provide finance, be it a first or
second charge mortgage, with the risks of damage to the property otherwise far
too high for them to lend large amounts. As part of the underwriting and due
diligence process when applying for a mortgage, if your property is at too high
a risk of flooding and water damage, the lender may well reject the application
(more
information about the process).

It was recently revealed that the UK government has established
a plan for the potential of 20 to 30 per cent more extreme downpours than it has
ever experienced before. This is following the criticism received for its
response to flooding across the country over the past few years.

Thus, it is clear that the government is excepting more
flooding to take place across the UK and so it is vital that we protect
domestic dwellings, businesses and places of work.  Flooding can cause some very serious damage to
property and the contents, resulting in months or even years of disruption.

Flood Warnings in the
UK

If you live in a high-risk area, there are a number of
things you can do before a flood hits, including:

• Registering with Floodline. You can do this by visiting
  their website or by calling them on 0345 988 1188. This is a government run
  system which will notify you when there is a flood risk in your area
• Be sure that you have insurance which covers
  flooding and water damage. It should also cover the costs associated with
  drying out, temporary housing, restoration and professional fees (such as
  solicitors and surveyors)
• Keep your important items and possessions which
  hold sentimental value upstairs to reduce the chance that they get damage if
  the worst should occur. This may include things like your insurance documents,
  passports, photos and medicines
• If you do live in a flood risk area, you should
  keep in mind that this is the case when you are doing any renovations on your
  home by adding waterproof coating to the walls and the sideboards and so on,
  opt for tiled floors rather than carpets downstairs, install power sockets and
  other electrics at least 1.5m above floor level, add flood guards and ensure
  sufficient ventilation bricks have covers, landscape your garden to direct
  water away for your property, ask a plumber to fit a backflow prevention valve
  in order to prevent sewage back up membranes (source: RJ Acoustics)
• You could consider investing in a sump pump
  which is not battery operated, emergency sandbags and flood boards which can be
  fitted on the outside of the windows and doors if a flood should occur

The Environment Agency operates a very detailed flood map which you can be sure to keep an eye on. This will display the latest flood warnings as well as the level of flood risk in your area. Furthermore, Friends of the Earth offers another easy-to-use flood map. Either of these can really help you in better planning floods before they occur

Following a Warning That
Flooding is Expected

Once you have been informed that a flood is likely to hit,
there are some further measures that you can take to help prevent any extensive
damage happening to your property:

• Turn off your electricity, water mains and gas.
  You need to be sure that you know how to do this quickly so that you remain
  calm when a flood is likely
• You can put sandbags outside of your property to
  help to create a sort of barrier between the flood and your home
• Put plugs in the sinks and baths and weigh them
  down with sandbags where possible. Remember to also plug any other water inlets
  such as overflows, taps and toilets. This is especially pressing if your pipes
  don’t have ‘no-return’ valves
• Move any electronics, rugs or any other
  expensive and important items upstairs
• You can always ask someone for help if you need
  assistance in preparing for a flood following an alert

Investing in temporary flood protection equipment could save
you a lot of heartache and money. You may never actually need it, but this sort
of equipment such as sandbags and flood boards can potentially one day work to
save your property. It must be said that sandbags are often provided by local
councils. However, in high risk areas, they often run out if you are not quick
enough. Therefore, it may be wise to just have some of your own to hand just in
case.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – Reducing the risks of flooding for properties | LandlordZONE.

View Full Article: Reducing the risks of flooding for properties

Councils to be legally required to provide secure accommodation

admin    Uncategorized     agents

Prime Minister Theresa May has announced that for the first time ever, councils across the country will be legally required to provide support in secure accommodation for survivors of domestic abuse and their children.

With councils struggling to provide any form of accommodation let alone social housing for families and individuals that become homeless

The post Councils to be legally required to provide secure accommodation appeared first on Property118.

View Full Article: Councils to be legally required to provide secure accommodation