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Peter Rayner
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Recent Activity
Just fitted a gas combi boilerđ
From:
Peter Rayner
07 February 2024 07:02 AM
Not sure how itâs supposed to save time when you have to report 4 times a year and possibly 5 rather than just once. The present system seems to work fine and is straightforward enough.
From:
Peter Rayner
24 November 2023 08:34 AM
Stamp duty too.
From:
Peter Rayner
07 November 2023 08:46 AM
As Emily says, there is no minimum requirement for grade C mortgage lending from most lenders. This is just nonsense. Finally the government has seen the harm they are doing and the sell off in the PRS and rowed back on their proposals. You seem to have a crystal ball Martin. No one can say who or what a future government will do despite what they may say today. If a labour coalition gets in and reinstates EPC C requirement, I hope they have plans for housing the homeless that they will create. As for D rated properties not being fit for purpose, I live in a 50âs bungalow. It has cavity wall insulation, A rated double glazing, a modern condenser combination boiler, about 2ft of loft insulation and led lighting throughout. Guess what? Itâs rated a D and unless I move out of the house, take out the kitchen, rip up the flooring, dig out the concrete and insulate it, it will remain a D. I donât live in fuel poverty or regard the place as unfit for purpose. In fact itâs nice and warm.
From:
Peter Rayner
25 September 2023 09:02 AM
I canât see that happening. It would be political suicide.
From:
Peter Rayner
25 July 2023 18:33 PM
I quite like him commenting. I think what he says is mostly rubbish and I think he is promoting his energy assessment business but it is good to read other landlords responses. I am encouraged that it is not only me that has absolutely no confidence in the EPC system.
From:
Peter Rayner
24 July 2023 07:52 AM
Wait for Labour to bring it into line with income tax rates which in the majority of cases would mean 40% tax.
From:
Peter Rayner
22 July 2023 12:04 PM
I think Martin is involved with a company providing EPC certificates. Many commentators have made the point of there being a lack of confidence in the way EPCâs are carried out whether the criteria for these assessments will be changed in the future. Why would anyone go beyond the reasonable and obvious improvements when the goal posts may be moved? Martin, youâve been asked before and not answered, are you confident that the way EPC certificates are assessed will not change in the future?
From:
Peter Rayner
20 July 2023 10:03 AM
The problem is Martin that until the legislation for rental properties to have a minimum C rating is actually passed into law, I would be very reluctant to make any changes that involve major work. I have no confidence that the whole EPC system will not be changed. Itâs not a case of putting oneâs head in the sand but it would seem a bit pointless to rip out electric heating and install condenser boilers to achieve a C if the government may decide that they are more concerned about carbon dioxide emissions than running costs. I have been advised by EPC assessors not to do anything until the proposals are passed.
From:
Peter Rayner
20 July 2023 07:58 AM
Not Nuaire Martin but Vital Direct Ltd? Iâd like to ask you genuinely if you are confident that the way EPCâs are calculated will not change in light of the governmentâs drive to discourage gas boilers? Although my properties have modern boilers, double glazing, loft insulation etc. Iâm reluctant to make further changes to D rated solid wall houses for fear of the goal posts being moved.
From:
Peter Rayner
10 July 2023 07:26 AM
Oh that it were that straight forward! Do those things to a Victorian D rated house and it will remain a D. The proposals outline a fabric first approach to increasing energy efficiency. That means external insulation which will be very expensive and probably lead to damp problems as the houses were designed to allow for moisture to evaporate from the exterior of the brick walls. Or you could ask your tenants to leave while you rip the house apart, removing kitchens, bathrooms, radiators etc. and install internal wall insulation. We havenât even mentioned floor insulation yet! On top of that, the government doesnât want you to use gas boilers, so who is to know that the entire EPC rating criteria wonât change in the near future. Iâve spoken to EPC assessors and been told that it is near impossible to get a Victorian terrace up to a C. One also advised me to do nothing for now and wait and see what the actual legislation says when it becomes law. I no longer have any trust in what future regulations may be, so I will continue taking the rent until I am forced to sell.
From:
Peter Rayner
08 July 2023 12:33 PM
Where is everyone in Wales going to live?
From:
Peter Rayner
20 May 2023 12:35 PM
Plus probably National Insurance payable on rental income.
From:
Peter Rayner
20 May 2023 10:40 AM
Yes 40% CGT tax on inflation as well as National Insurance on rental income
From:
Peter Rayner
17 April 2023 09:33 AM
Because in many cases, the solutions are anything but straightforward. I shall wait to see if the EPC standards are revised because at the moment there is a conflict between energy costs and environmental considerations.
From:
Peter Rayner
17 April 2023 07:09 AM
Thatâs great that the assessor was happy to give you a C rating. I have a couple of similar properties with modern boilers, loft insulation and low energy light bulbs but only achieve D ratings. The recommendations for achieving a C rating were to first, insulate the walls either externally or internally, then secondly, to insulate the floors. In the case of external insulation, apart from the cost, I foresee all kinds of damp problems, as these Victorian properties were built to allow any damp to evaporate out of the bricks externally. Any dampness would be directed inwards. Internal insulation is also not an option as it would involve the removal of radiators, kitchens, boilers, bathrooms etc. Also narrow hallways would become even narrower. I can only imagine that these proposals will be diluted in the case of solid wall properties or landlords will be selling in droves. Me included.
From:
Peter Rayner
04 February 2023 11:59 AM
Every chance weâll be paying 40% CGT under labour in a couple of years.
From:
Peter Rayner
28 November 2022 07:21 AM
The article doesnât mention what percentage of landlords will just evict their tenants and sell the property to a buyer who intends to live in it, hence not encumbered by the proposed legislation.
From:
Peter Rayner
13 April 2022 06:51 AM
âShould landlords be unable to make changes to their properties by the deadline they may be unable to rent their properties so could be left with properties that are unmortgageable and therefore unsellable.â Why should the inability to make changes to the properties make them unmortgageable or unsellable? I thought these proposals only applied to the rental sector? Presumably the option of selling the house free of tenants would still remain.
From:
Peter Rayner
07 February 2022 07:20 AM
Yes, if you dispose of the property before you die you will have to pay CGT but if you leave it in a will, the recipient would only pay IHT (subject to allowances)and any CGT on the increase in value from the point they inherit it to when they sell it. There would not be any CGT payable on the increase in value before they inherited it.
From:
Peter Rayner
02 December 2021 09:27 AM
My understanding is that the ÂŁ12300 allowance is available to higher rate tax payers. Also you would only pay CGT and IHT if you sold the property just before you died. If you pass the property on, only IHT would apply but whoever inherited it would be liable for CGT for any increase in value from the time that they inherited the property to selling it. My objection to the present CGT rules is that since the treasury abolished taper relief, CGT is now payable on any rise in value due to inflation. We are paying tax on a âprofit â that isnât real.
From:
Peter Rayner
02 December 2021 07:07 AM
Yes, I wouldnât buy anywhere that wasnât rated C or above. Iâve just bought a C rated house in anticipation of having to sell a couple of D rated properties if and when the new proposals are passed. Iâm all for improving energy ratings to C if it involves practical changes (efficient boilers, windows etc.) but my D rated houses are solid wall and would be too expensive and impractical to upgrade. Iâve spoken to EPC assessors about it and they say that getting Victorian properties up to C is nigh on impossible.
From:
Peter Rayner
29 April 2021 09:34 AM
Problem with CGT is that once upon a time, taper relief was applied to the gain in line with how long the property was owned. That took in to account inflation. Now if tax rates are to be increased and allowances reduced without inflation being taken in to account, and house prices increased in line with inflation, the tax liability may be substantial on profits not made. I donât mind paying taxes but I donât want to pay them on gains that are not real. Adjustment needs to be made for inflation.
From:
Peter Rayner
19 March 2021 10:32 AM
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