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TODAY'S OTHER NEWS

Evictions effectively halted across much of England and Wales

Bailiffs have agreed to a government request not to enforce court orders against tenants in Tier 2 and Tier 3 locations.

This means evictions can still proceed through the courts, but bailiffs will not enforce court orders in areas such as Greater Manchester, Merseyside, London, Wales and much of the north east of England.

Justice Secretary Robert Buckland has written to bailiffs’ trade associations requesting they do not carry out physical evictions in those areas with the strictest Coronavirus controls.  

He wrote: “We would request that your members should instruct the enforcement agents working under their authorisation not to enter properties that are classified as local alert level 2 (high) or 3 (very high)."

Buckland describes the situation as “changing rapidly” and under continual review.

The High Court Enforcement Officers Association has agreed to the request, which means that in effect tenants in Tier 2 and Tier 3 areas will not be evicted until at least January 12.

This is because the Ministry of Housing, Communities and Local Government has already announced a suspension of evictions across England and Wales over the Christmas period between 11 December and 11 January.

  • PossessionFriendUK PossessionFriend

    My Facebook page has details of a Call for Landlords affected to join a No-win, No-fee legal Action
    @possessionfriend

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    • 26 October 2020 09:39 AM

    Not a single chance of getting LL to act together even if in their best interests.

    Attempting to have LL working together is akin to herding cats.
    It will never work!!

    LL will continue to be divided and ruled and ultimately be the individual authors of their own destruction.
    .Which suits the rabid left just fine.

    Seems the Tories are just as keen as the left to eradicate LL.

    So unfortunately your efforts have no chance of ever succeeding though I deeply regret this to be the case.

    Remember the S24 campaign which I financially contributed to saw very few LL doing the same.

    Yet this was a form of rent control in that S24 removed rent income from LL.

    There is simply no way individual LL in the majority will do anything to assist their circumstances in association with other LL.
    A very sad reality I'm afraid.

     
    John Cart

    Yes, I'm up for this, I've spent 5 weeks trying to obtain a Warrant, with the cnuts at the CC dragging their feet at every opportunity as they must have been forewarned that this nonsense was in the pipeline, now we know why they kept kicking the can down the road with removing the original stay, it was so they could get this load of old bollox in place.

     
  • Mark Wilson

    This will disappoint but cant be seen as a surprise.

    Shall we run a sweep stake on when rent controls will come in?

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    • 26 October 2020 09:52 AM

    3 years from now or just before the next GE whichever comes sooner

     
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    If rent controls are as effective as energy price caps then most landlords have nothing to worry about.

    It seems many tenants are happier to pay around £300 higher capped energy prices than shop around for better fixed deals.

     
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    No evictions in Tier 2/3 Not really a surprise here.

    As for Rent Control as said before looking forward to this. LL's will make more money. Only the sharpest Letting agents will make money in the next few years because of the changes, the historical weakest inept LA's that preyed on LL's/Tenants will be out of business & that's capitalism at its finest!

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    • 26 October 2020 11:05 AM

    I don't believe LL will nake more money it will be far less when you factor all the additional costs being imposed on LL.
    Rent controls will just kill leveraged LL.

    Unencumbered LL will just have to forego that extra holiday to the Maldives.
    Annoying but certainly not bankrupting!!

    Rent controls would be the final nail in the leveraged PRS unless LL can deleverage to the point where LHA rates can cover all leverage and other costs.

    Rents are likely to be fixed at the current 50th percentile.

    As a bare minimum LL should deleverage to this percentile plus accounting for the other costs.

    The easy political win for the Tories makes the imperative for rent controls even more overwhelming.

    The tide of history is currently against LL and as such it makes inevitable a return to the bad old days of sitting tenants and rent controls.
    Few leveraged LL could sustain their properties with such circumstances.
    Plus remember rent controls devalue properties.

    Lenders would be forced to substantially reduce the amount of credit they advance.

    If I could I would be selling up NOW!

    ONLY unfortunate circumstances prevent me.

    There is no doubt about it the writing is on the wall for all those who care to read it.

     
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    As I've said before, I can't think of any safer home for my money than PRS, with yields of 8 to 10% easily achieved on 100% equity properties and approaching 20% on 50% ltv mortgaged properties and nearly 30% yields on 75% ltv, although the risk at that level is greater but still less than any other investment currently.

    These figures are purely on revenue returns and are significantly better when historic capital growth is factored in.

     
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    • 26 October 2020 15:35 PM

    @robertbrown

    All well and good until you can't get rid of a rent defaulting tenant.

    You just have hope your acumen will mean never having a dud tenant.

    If not then your figures totally validate the BTL business model

    I dream of 50% LTVl!!!!!!

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    Robert enjoy it while it lasts I am lucky if I achieve 3 / 3.5% and that's in theory assuming I get the rent. I said before Check in the chips while you can we missed the Bus. This is one thing I agree with Mark about it starts in London and don't worry it will get to everywhere.

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    Be aware Robert, as they are trying to trip you up and secure your Tenant's housing by making your let property a non-housing Act Tenancy. Using compliance, evidenced compliance..... and moving the legal and goal posts several times a year.
    I'm sure you cross every t and dot every i, but there are thousands of Landlord's out there who are in for the shock of their lives over the next 18 months. many that think they are compliant are way off the mark. The days of the sitting Tenant, not seen since the early 80's are about to return.

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    John

    That's why I actually like HMO properties with several tenants who, probably unknown to most of them, are actually locked into the joint tenancy until they unanimously agree to end the tenancy.

    I use this to get rid of any unwanted tenants who want to stay on with new flatmates and to retain good tenants with new flatmates.

    This, along with solvent guarantors who value their credit ratings, has meant I have only had one eviction out of around 300 tenancies over the years.

     
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    it seems as though everyone is in the money... the only problem is getting your hands on it !

    Anyone who thinks that this is not inevitable for the next 2 or 3 years is...

    answers on a postcard please

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    Personally, I have never been better off - and with cruises cancelled, payments returned in full, my biggest problem or frustration is finding a good low risk yield for the money piling up in my bank accounts. The highest rate I have found is 3.05% with Natwest but such accounts severely limit the amount of deposits.

    I am seriously thinking of buying more properties but I need to weigh up the frustration of low yields versus the hassle of further property investments.

    I guess I'll just have to do more fancier cruises next year as I don't know what else to do with the money that is accumulating faster than I can spend it on things I want or need.

     
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