Government Announces that XMAS Comes Early For Property Investors & Developers

Property investors and developers have been waiting for the Government to announce the NEW Permitted Development Rights for repurposing commercial buildings for residential use. IT’S HERE!

The Government have issued a consultation document and are looking to bring in these new permitted development rights early next year.

The post Government Announces that XMAS Comes Early For Property Investors & Developers appeared first on Property118.

Stamp duty on main residence?

I owned 2 properties – 1 that I rented out, and lived in my other property as my main residence. I sold my main residence on 29th May 2019, bought 2 more BTL properties and I am living in a static caravan.

The post Stamp duty on main residence? appeared first on Property118.

Covid-19 mortgage payment holiday deferrals are decreasing

The number of payment deferrals across mortgages and consumer credit reduced in recent weeks as more customers returned to making repayments or sought alternative forms of tailored support from their lender, according to the latest figures published by UK Finance. 

The post Covid-19 mortgage payment holiday deferrals are decreasing appeared first on Property118.

Open consultation on change of use from commercial to residential Permitted Development rights

The Ministry of Housing, Communities and Local Government has launched an open consultation seeking views on proposed measures to support housing delivery, economic recovery, and public service infrastructure in England. Click here to download the full proposal

This technical consultation seeks views on a proposed new permitted development right for the change of use from Commercial

The post Open consultation on change of use from commercial to residential Permitted Development rights appeared first on Property118.

EICR – Rogue electrician scam?

I hired an electrician for an EICR, which he failed and said it needed a new consumer unit to pass EICR, which I agreed, and he completed the job and issued a “satisfactory” EICR.

It only raised my suspicions after I subsequently gave him EICR for two more properties (almost new build)

The post EICR – Rogue electrician scam? appeared first on Property118.

Scotland to introduce EPC Min Band D

The Energy Efficiency (PRS) Regulations which were to be enacted this year are now to be introduced next year with the Min EPC rating being Band D w.e.f. 01 Apr 2022 on new leases and by 31 Mar 2025 for existing leases.

The post Scotland to introduce EPC Min Band D appeared first on Property118.

Government must respond to Extend the Stamp Duty Holiday petition

A petition to extend the Stamp Duty Holiday for an additional 6 months after 31st March 2021 has now reached the 10,000 signature threshold where the government must officially respond. This response is expected in the next 3 days.

The Chancellor Rishi Sunak has been under pressures from all sides of the Housing Market to extend the holiday and avoid a cliff-edge that is pinching completions into a compressed deadline with an estimated 325,000 existing agreed purchases that may not happen before this date.

The post Government must respond to Extend the Stamp Duty Holiday petition appeared first on Property118.

How to insure with no company let tenancy agreement?

I am reaching out for some advice from the wise members of this forum. A property I own is a residential property let to a company. The tenancy agreement is up for renewal imminently, but the tenant won’t sign another one until AFTER the imminent renewal date.

The post How to insure with no company let tenancy agreement? appeared first on Property118.

Average time to completion has increased by 12 days +

The latest research, GetAgent.co.uk, has revealed that the time it’s taking to sell a property across Britain has increased by 12 days so far in 2020. However, in some parts of Britain, this increase is far higher.

The post Average time to completion has increased by 12 days + appeared first on Property118.

Latest tier restrictions are a pretty blatant attack on less wealthy areas of the country

Research by estate agent, Barrows and Forrester, has revealed the average cost of buying a home across the current Covid tier rankings.  The government revealed which tiers each part of England would be placed in at the back end of last week

The post Latest tier restrictions are a pretty blatant attack on less wealthy areas of the country appeared first on Property118.

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