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According to the Chartered Institute of Housing, landlords who purchase empty homes to bring them back into use should be exempt from paying stamp duty. The CIH has called on the government to offer an incentive to purchasers to bring back into use some of the empty homes in England, which currently stands at approx… Continue Reading
Category Archives: News
Tax Relief for Investment Properties
High demand for rental accommodation has provided a significant boost to the buy-to-let mortgage sector, with a growing number of people using property as a profitable form of investment. It is important to bear in mind that leasing a home in the UK is subject to a number of taxes, such as income tax, regardless… Continue Reading
A Guide to the Bedroom Tax
In April 2013, the “bedroom tax” will come in to force. The change to the housing benefit rules will see a cut in the housing benefit of claimants with a spare room. The government will use it’s “size criteria” to determine the number of bedrooms that a family actually needs, and make housing benefit payments… Continue Reading
Landlord’s Building and Contents Insurance
Tenants are typically viewed to be of higher risk than owner-occupiers, and for this reason regular homeowner insurance policies are often invalid for tenanted homes. Most mortgage lenders will require that you have buildings insurance in place. Landlords building insurance will cover you against a number of eventualities, and is specifically tailored to offer a… Continue Reading
Landlord’s Seek Alternative to High Street Letting Agents
We hear many reports of landlords who are not happy with their high street letting agents. Many simply don’t realise that there is an alternative option, whereby they can advertise their property across the internet, have tenants fully reference checked, and be sure that they have a legally binding contract with any incoming tenant. Here… Continue Reading
Best Practice for Landlords
Being a landlord is so much more than just owning a property and taking rent each month. Our good practice guide to ensure that you are not only a good landlord, but that you are compliant with all of the legal requirements. Insurance Tenants are typically viewed to be of higher risk than owner-occupiers, and… Continue Reading
Landlord Licensing a Failure in Scotland, According to Tories
Since the introduction of a compulsory registration scheme in Scotland 5 years ago which has cost £17.4m to date, only 100 landlords have been banned. Out of a total of 200,000, the 100 who have had their licences refused or revoked are equivalent to just 0.05% (figures obtained by the Scottish Conservative Party). Landlords have paid… Continue Reading
Miliband and Cameron on the Bedroom Tax
Labour leader, Ed Miliband, has accused David Cameron of being out of touch over the impact of the “bedroom tax”. Milliband claimed the cut in benefits for tenants with spare rooms in social housing would hit disabled people as well as military families. The prime minister said the change represented part of an effort to reduce the… Continue Reading
Landlord Fined for Breaking HMO Rules
Julie Stoddern of Roskear Village, Camborne, has been fined and ordered to pay costs to Cornwall Council at Truro Magistrates’ Court for multiply safety hazards in her unlicensed house in multiple occupation (HMO) She had already been issued with a prohibition order which forbid her from using an attic room for any other purpose than… Continue Reading
Rent in Advance Could be Considered Deposit
The question of whether rent paid in advance is a tenant’s deposit is to be decided by the Court of Appeal. In the recent case of Johnson v Old, six months rent in advance was been paid by the tenant. They also paid a separate amount which was taken as a deposit and duly protected.… Continue Reading