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Landlords in mortgage arrears

Damon — Mon, 23 Aug 2010 07:59:30 +0000

Again the current economic climate doesn’t just affect tenants but landlord’s aswell. Yes property is a good and a great investment and a number of people do find it to be quite lucrative. There are a number of unfortunate landlords out there who are struggling to make ends meet and sometime fall behind on mortgage payments allowing the rental property to be seized by the mortgage provider.

Obviously if the landlord has fallen behind on payments this means bad things for the current occupying tenants. The tenants will be evicted and given next to no time to vacate the property. If you are in this situation you can take it to small claims court and request more time at your own cost. Bear in mind that you may only get a few extra days.

Are you in rent arrears?

Damon — Mon, 23 Aug 2010 07:59:11 +0000

Are you in rent arrears, in the current economic climate this may well be the case for a number of people out there. The current economic climate is making it harder year upon year for tenants to pay their monthly / weekly rent. Help from the government and councils is becoming is even more scarce by the day.

There are a number of other options and the first is always to try and discuss this with your landlord first to try and come to some sort of amicable arrangement. Just remember if it going to take you a couple of month to sort your finances out it is in the best interest of the landlord to allow this time on a smaller rent payment as finding new tenants will cost them more.

Property Agents

Damon — Mon, 23 Aug 2010 07:43:31 +0000

Beware of scandalous property agents around the country who are luring in landlords on small tenant finding fees. A number of cases are arising where agents are not willing to disclose even basic information about potential tenants leaving the landlord blind. Landlords are being put at risk by these agents as a number of bad tenants are being allowed into properties that cannot afford to pay. Also landlords will never know whether correct credit checks have been made against the tenants.

Another issue with a number of agents is the property management fees they charge. It seems a number of property agents sit on this money and do nothing for the landlord even basic checks are missed out leaving the landlord open to legal action from disgruntled tenants.

Council Running Out Of Houses

Damon — Mon, 23 Aug 2010 07:43:09 +0000

Councils all over the country are running out of properties very fast. A number of people being declared homeless are remaining homeless as the council has no means to help them. In fact a number of private tenants who are having to leave their rented accommodation due to the landlords request are being advised by councils not too move and break the contract law.

Housing advisors at councils are telling tenants not to move out of their properties willingly as they declare themselves homeless. It seems it is the landlord’s responsibility to pursue the tenant through court before the council recognises they are being made homeless to do anything about it. The council’s scheme of allowing their tenants to purchase their council houses has caused this problem.

Landlords insurance

Damon — Mon, 23 Aug 2010 07:42:53 +0000

Landlords did you know that if you rent out properties that you require a separate landlords insurance policy. You standard insurance policy will not cover any mistakes by your tenants and you may be liable for all sorts of expenses from damage to the property to injury claims from your tenant. You need to ensure you are adequately covered.

Landlords insurance is widely available as it is a very competitive market. Start by asking your current insurer what it would cost and then look at comparison as you would for car or normal house insurance. Do not neglect this any way as you may regret spending that little extra.

It’s not just home insurance which needs to be taken into consideration

Damon — Tue, 20 Jul 2010 16:19:29 +0000

After moving home, when it comes to protecting their property, most people don’t hesitate to take out home and contents insurance. This insurance is vital in ensuring that your won’t find yourself left in the lurch in the event of an accident or theft, and if your home is full of the latest hi-tech gadgets and entertainment equipment, it goes without saying that you won’t want to end up out of pocket.

When it comes to finding insurance for your property, there are many quick and easy ways of finding a deal which is suitable for you. Whether you go to a broker or browse the internet yourself, you’re sure to be presented with several deals which suits your needs.

Taking your time in choosing home insurance is a must though, so that you don’t find yourself tied in to a contract which doesn’t fully meet your requirements.

Once you’ve sorted out insurance for your property though, you also need to ensure that your car or van insurance details are still relevant.

The car or van insurance details which you entered regarding where your vehicle is left overnight will have changed once you’ve moved into your new property- so make an effort to update them, otherwise you could find yourself receiving a nasty surprise in the event of a vehicle accident or theft…

VAT is on the increase and going up soon

Damon — Wed, 23 Jun 2010 11:57:20 +0000

heard on the radio that the VAT is going up soon and going to be increased by 2.5%. Crazy man! Recently, the VAT went down by 2.5% to 15% and now the Government is increasing the VAT by 2.5% to 20%.

Don’t you see something fishy going on here? Are they just making up for the lost money and two and a half percent from a few months back? Maybe so but as you probably will know, they will come out with a thousand legitimate sounding excuses.

What can you do? You tell me. What should we all do. Just let it come and wait for a decrease?

VAT going up to 20% in the UK

Damon — Tue, 22 Jun 2010 16:09:22 +0000

You may have heard the news today that the VAT rate is increasing and going up to 20% in the UK soon. What does this mean for the property industry?

Mostly nagative for most people and businesses also.

For people looking to buy a home, two and a half percent will make a great difference of maybe even a couple of thousand pounds!!

For property agents and businesses, it may become much more difficult to sell a property and much more difficult to find buyers for the thousands of properties they have on show.

This may even mean more business for people who rent.

Property prices may continue to increase here in the UK as the recession dies down

Josh — Mon, 14 Jun 2010 11:27:31 +0000

Property prices may continue to increase here in the UK as the recession dies down and everyone gets their finances back on track. This is why estate agents and property experts and professionals are recommending many people to buy homes if they can afford to as it’s likely prices are going up and increasing.

A mortgage – which many people get – is a bad thing. It has got thousands of people into major financial problems and those in good jobs can lose their jobs anytime in such an economic state and may find it completely difficult to continue payment and in the end, a mortgage takes tens of thousands of pounds more than the actual home value!!

Is Simple the New complex?

Damon — Mon, 14 Jun 2010 11:20:14 +0000

When people buy new homes, they begine to dream about how they are going to decorate their new homes many months before actually buying the house!!

Most people begin to think of using a hundred colours, decorating every room to the max, weird looking furniture, ornaments, doors, cupboards, windows, wallpaper, paint etc, etc.

A time has come now where people are actually asking a question opposing this idea completely – Is having a simple home the new complex? Because either they can’t afford a complex home to be different from the crowd.

But the main thing, to make simple look perfect takes a lot of time and effort.