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Andy Marshall
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The Bank of England overreacted and have interest rates at least 1% above where they should be. They are wilfully damaging the UK recovery. They should not drop rates by too much, but they do need to send a message that rates are likely to slowly come down. I understand that they do not want to send out too many positive messages but a very small drop of 0.1 or 0.15% would be sensible. I'm not saying that they should do this every 6-weeks but they do need to steer the economy and not act like Ostriches as they are currently.
From:
Andy Marshall
18 March 2024 13:40 PM
With costs and legislation making it harder and more expensive for the private Landlord this inevitably leads rents to be increased. I can think of no better motivation than to buy your own house than facing spiralling increases in rent. It is fast becoming a seller's market and I think that many Landlord's will now be tempted to sell.
From:
Andy Marshall
18 March 2024 13:32 PM
Well said. As stated most of us understands a bump in the road and are willing to help tenants. It is a sad experience in my case that at about 3-1 tenants have not met and adhered to the agreements that have been put in place. They either leave owing me money or I need to evict them, which adds more to costs. These charities are living in cloud cuckoo land if they cannot understand the real issues. As to the comments on Reform, I hope they do get in and i and my family will be voting for them. To me it does not matter if blue or red get in, they are both rubbish. The system needs a re-boot and i hope that Reform can do it.
From:
Andy Marshall
14 March 2024 13:09 PM
Apart from saying that this Government is pointless I will wait to see the budget until I get all hot and bothered. They change their minds so much I think lets wait and see what actually is in the budget is the best way forward. I will quote George Galloway though and say the conservatives and Labour are different cheeks of the same arse.....and we know what that part of the anatomy produces!
From:
Andy Marshall
04 March 2024 08:40 AM
I will never vote blue or red again. Reform for me though I was disappointed with the Wellingborough by-election result. Selling Council houses though in principle a good idea, there should have been penalties going forward if the property was sold in 25 years, in order to compare with a mortgage. And the money invested in building replacement properties and the cycle could have continued, say 40 years later. I say this as older houses cost more to upkeep. This just underlines the short term thinking of our so called leaders since the 1980's.
From:
Andy Marshall
28 February 2024 18:40 PM
Well said Matthew. The muppets at the B of E without doubt have made things worse. The base rate should be a whole 1% below what it is currently. That said they cannot rush out and change this as it would send the wrong message. There is a very fine balance currently, they must drop the rate next time by .25% and then leave it for around 3 months to allow feedback from the change. Stupidly when they kept putting rates up every time and not giving pause will cause businesses to go bust and for some to lose their property. Without doubt, in my opinion, they are culpable.
From:
Andy Marshall
26 February 2024 10:26 AM
Personally I don't think a 1% is a problem. If you have the income then you will be able to afford it. Depending on interest rates it does not matter if you have a 10% deposit or 1% you will either afford it or not. Bank's will set rigid rules as they will want to ensure that they can recover their money if it goes wrong, therefore in reality this product will only be suitable for the very few. Overall the Government need to think about housing strategy because currently it is madness as explained in the comments. I would like to point out though compare us to France and our stamp duty is cheap, very cheap. This approach by the French also then keeps the property market stable. It is also helped that the mortgage rate is set fo the life of the mortgage and not for the benefit of the lender.
From:
Andy Marshall
25 February 2024 01:30 AM
Reform for me too. I am fed up with the red and blue party. They have been rubbish for this country for the last 40 plus years.
From:
Andy Marshall
14 February 2024 17:59 PM
Great post
From:
Andy Marshall
02 February 2024 00:54 AM
It is just more bias that the 2 main parties will quote for them to strong arm the PRS into yet more needless laws defending poor tenants. It's not going to change anytime soon. Time to slowly leave the sector in my view. When a tenant leaves the house goes on the market. In time the Government will realise, whomever is in power, they will then really start to work and dig deep to find more excuses why it is not their fault but the previous Government and of course those greedy Landlords. And in my view so it will continue!
From:
Andy Marshall
01 February 2024 09:34 AM
The writing is most definitely on the wall for the PRS. Even when the situation is this bad they stick their collective heads in the ground and blame Landlords. It is impossible to change their minds, such is their twisted thinking. We know the reasons and therefore see no point listing them again. I'm now busy getting 3 properties ready to be sold, thanks to these useless Politicians and charity groups!
From:
Andy Marshall
29 January 2024 09:55 AM
When will these Councils learn. Rhetoric like this will get nowhere. Try working alongside Landlord's and get your own house in order.
From:
Andy Marshall
26 January 2024 11:35 AM
Hi Michael, I agree with your comments and I do feel that the points you raise, as has Jo, that our labour is not factored in and the fact that we do not get benefits of being able to invest in a SIPP, as we are not a business. I also like Tom's analogy and has certainly will help me in my thoughts when I have to pay this tax!
From:
Andy Marshall
23 January 2024 09:08 AM
Interesting analogy and yes i'm sure Labour will be money collecting wherever they can to hand out yet further benefits and boost public spending. I work in the public sector and it is all too often shameful how money is wasted.
From:
Andy Marshall
23 January 2024 09:03 AM
Completely agree Simon, I'm selling, though not all. However my policy is once a tenant leaves that house will be sold.
From:
Andy Marshall
23 January 2024 09:00 AM
I am assuming that this scheme does not just apply to new builds. With my own tenants I have said that in order to afford a property they should let a room under rent a room scheme. I still do this as my married couple whom lived with me for almost 10 years are now firm friends and we all get on fabulously. My own parents back in the 50's lived with their landlady until they could have afforded to buy. They had the opportunity to buy the property in Highgate, London. Couldn't quite afford it. If they could have they would have been able to retire as millionaires 20 odd years ago. House converted to 3 flats, each flat over £1,000,000. Shame the 1% deposit was not available then! I became a Landlord as my Dad always said he had wished he'd put some money into housing.
From:
Andy Marshall
22 January 2024 10:06 AM
I think we can do both, but yes I would want more social housing. But, for some this will be a genuine help to get on the property ladder. I agree with comments above that i'm sure some shady people will have the snout in the trough. That said in this country we aspire to own our houses!
From:
Andy Marshall
22 January 2024 09:58 AM
40 year mortgages should do it. There will be a chunk of people whom this will work, more will prefer to carry on renting. As long as proper safeguards and assessments are put in place I do not see the issue. There will always be gamblers who will bite of more than they can chew, but for others they will manage fine. We say Government interference, but hey who put the rules there in the first place
From:
Andy Marshall
22 January 2024 09:54 AM
i'm with you Alison. Just think that sensible safeguards are in place for a lot of people this will help them get on the property market. Maybe these money saving experts should turn their attention to what do you really need to live these days, but of course that would not have the same appeal!
From:
Andy Marshall
22 January 2024 09:52 AM
Hi Sue, though I did not buy my property until late 80's I, like many others sacrificed a lot in order to get on the property market. I completely agree with the sentiment of your comment.
From:
Andy Marshall
22 January 2024 09:49 AM
He'll be elected soon at Gove's invitation
From:
Andy Marshall
19 January 2024 16:27 PM
Morning Michael. Wholeheartedly agree with you concerning Sir George Young. Back in 1999 myself and some other park home owners were being shafted by a big landowner. With the very able and willing assistance from Sir George Young he was able to bring his influence to bear and paved the way for an amicable agreement. Not all politicians are the same!
From:
Andy Marshall
19 January 2024 11:53 AM
I've already cancelled. Good when they first started up but have been way to self serving for me for a while now.
From:
Andy Marshall
19 January 2024 11:48 AM
Spot on guys, Reform for me also. The Labour and Tory parties are far to arrogant , self-serving and useless for me to now consider voting for them.
From:
Andy Marshall
19 January 2024 11:46 AM
James Turner a bit OTT with your comment. Andrew is simply and ably demonstrating how ludicrous the law is with regard property. No point in me continuing as i'm sure that we will disagree.
From:
Andy Marshall
18 January 2024 16:12 PM
I absolutely hate having to write this but Michael has put his point well. Landlords have money and property to lose, therefore it is easy to punish us. Andrew, you will feel 10 times worse if you are in a cell or on community payback doing 200 hours due to this tenant. As Michael wisely said, take a step back. If you do not want to deal with it get the estate agent to help. When I did my eviction it was through gritted teeth. There was no way I was going to let the tenant get any more out of me. It was extremely maddening for me but in the end the Court gave me my house back and the Council are refusing to give him a property and he is in some grotty B&B according to his Mum. Small recompense I know. Best of luck.
From:
Andy Marshall
18 January 2024 16:08 PM
Good luck Andrew, I hope for your sake she just leaves. Took me 14 months from start to finish to get a tenant out using section 21. The Norwich Court system is very backed up. Not the only reason for the delay but was a part of it.
From:
Andy Marshall
18 January 2024 16:00 PM
I'm exactly the same. My rents have been seriously low. Not anymore. Again there will be an increase but less than half of what I needed to do last year.
From:
Andy Marshall
18 January 2024 15:57 PM
Completely agree with above. My parents Bovis built house which we moved into in 1973 never had mould. I let this property to an elderly couple for 12 years from 2002 until 2014, no issues. I lived in it for 3 years, surprise surprise no issues. Let to a polish family and mould in bedrooms and bathroom. They were a very clean family and kept the house spotless, they just did not know that you needed to ventilate a property. Consequently I don't think this problem is going away.
From:
Andy Marshall
12 January 2024 17:48 PM
I am of the same opinion. This is complete bull. Not going to waste my time with it than this comment.
From:
Andy Marshall
12 January 2024 17:28 PM
Good point, where are our trade bodies. It is now so one sided that for me i'm leaving. Not panic leaving but when a property becomes empty i'm now selling. Three sold already over last 2 years
From:
Andy Marshall
11 January 2024 13:37 PM
Funny, love it!
From:
Andy Marshall
11 January 2024 13:34 PM
Well said Martin, I have had my fair share of doing this and I am currently getting another property ready to sell as enough is enough!
From:
Andy Marshall
11 January 2024 13:33 PM
Thank you for replying James and I take your point. However, it is not the Landlord or business owner fault that Government and local Government have not invested in property. In years gone bye the businesses have built houses and employed persons to then live in these houses. It is costly and so businesses stopped doing it. It is too easy to blame the homeowner how he wishes to utilise a property that he has bought. There is also the benefit of local businesses for cleaners, gardeners and property maintenance, on top of the holiday trade. Balance is the key and I would agree that it would be unfair if there were too many properties that were bought as property lets, but then the market forces would dictate. Another pointless licensing tax is not the answer. In Europe there is a tax that you pay when you rent a room or property. This is on top of the cost of the accommodation. This tax is then used to improve facilities in the local area and makes it a better place to live for everyone. For most being an unpaid tax collector would be preferable to a pointless money grabbing licence.
From:
Andy Marshall
11 January 2024 13:24 PM
Hi James, not wishing to sound condescending but this is a complicated subject. It is not Landlord's whom have caused the housing issue. As an example when food went up in the supermarkets it would be like blaming restaurant's, cafe's and pub's which sell food to make money from the food that they can afford to buy when others cannot. Food is for everyone. I hope you see my point. Balance is required and thus far the Politicians and organisations like Shelter and Acorn are making the situation far far worse. I would be interested in your point of view after reading this.
From:
Andy Marshall
10 January 2024 15:17 PM
Where is the tenants charter. I'd be ok with this if it cut both ways!
From:
Andy Marshall
09 January 2024 06:32 AM
Agree with comments above, however, for some Landlord's this could be a life line at the moment and hopefully will encourage other lenders to cut their rates. Lesson for Government that competition is healthy. It is too early for me to consider this, however once I have sold 3 properties and paid down some mortgage debt I may look at the offers to see if refinancing is the best option. Overall, the market now only really favours mortgage free Landlord's or very tiny mortgages due to the very unfair section 24 tax killer policy!
From:
Andy Marshall
04 January 2024 08:59 AM
This is a worrying article. Right at the beginning of the new year we are already being attacked and vilified. I would like to know how many of these cases CAB have actually investigated and fully seen the strength of the case that these tenants have brought against Landlords. If they had I think the article would read very differently. However, they are not interested in doing this as EVERYONE knows that Landlords are greedy despicable persons whom everyone has the right to blame for the housing crisis. The article even mentions that some Landlords have over reached themselves. Possibly they could be right but lenders validate mortgages and therefore whom is really at fault. Nobody could have foreseen the biased and completely ill thought out Section 24 policy invoked by the then Chancellor Osbourne. We have then had the ostrich organisation known as Bank of England, whom could not be more useless if they tried. Finally we have a totally incompetent Government whom have completely failed to comprehend the housing market and are liberally pouring petrol on the burning market place they have created. The alarming situation is made worse as there is absolutely no light at the end of the tunnel.
From:
Andy Marshall
03 January 2024 03:03 AM
Could not agree more. Bailey had unnecessarily rates rates at least .75% higher than he needed. This has hurt the business arm of UK. Anyone whom has fixed a mortgage in last 8 months will be hurting if for longer than 24 months. I will be selling some to reduce debt as this market is too turbulent for a mortgaged Landlord unless you're ltd. I cannot see a positive change in the future.
From:
Andy Marshall
22 December 2023 23:29 PM
For portfolio Landlord's you have an option to sell a property or 2 and de-leverage your remaining mortgaged properties. I will partially be doing this as well as reducing my own mortgage. I will also have a bloody good holiday or two and reap some rewards for all the hard graft i've put in over the years. One thing that none of us can allow for and that is any Government being on our side!
From:
Andy Marshall
22 December 2023 23:15 PM
Completely agree Darren. I've now removed my problem tenant and have kept another property let as a shared house, with one couple. Though this has been at a loss it protects me from a myriad of situations. Housing policy is a train wreck currently and I am leaving the station.
From:
Andy Marshall
22 December 2023 21:21 PM
Catherine, it would be like a dream come true, lol
From:
Andy Marshall
08 December 2023 14:29 PM
Maybe this is the truth of the situation. Is it possible that the Government believe these idiotic statistics and self serving organisations and this is why we are very much in the mire. This is pure hype. The only properties that Corporate companies are interested is high end, concierge apartments with swimming pools, gyms and coffee shops for the well heeled of this country.
From:
Andy Marshall
08 December 2023 10:19 AM
I can only see this continuing. As confidence returns, lenders become competitive and house prices will modestly go up. I do not see the larger houses benefitting as much though unless in a highly desirable location, as always. The driving force for many is that they can see rents will continue to sky rocket due to poor governance and that they will need to buy to have a better future. The South -East are likely to be the least affordable and for youngsters whom live here I would highly recommend them to move away, not an easy option for some but otherwise you will be a hostage to your property unless you are one of the few on a seriously good wage. For the vast majority it has always been extremely difficult buying your first property. Bite the bullet and look at your finances seriously and put your life on hold for a couple of years in order to do it. Looking back it will be one of the best decisions that you will have made.
From:
Andy Marshall
08 December 2023 10:15 AM
It is a disgrace how this Government are currently governing and from the sound of it Labour will be no better. The entitlement by these two parties to be the only option is over. Personally I can't wait for an election and will most definitely vote Reform and will hope for a hung parliament.
From:
Andy Marshall
08 December 2023 10:02 AM
No idea whom these 53% are....do they really exist
From:
Andy Marshall
08 December 2023 09:54 AM
One article states rents are going up and on the same page headlines state they are going down. If Landlord Today keep this up they will lose credibility. The market place is in chaos. Too many changes on the way with Housing having undergone too many changes already. The Bank of England looking inadequate over the last 15 years in dealing with inflation and the economy. The uncertainty we now face is unnecessary and the Government should focus on their own social housing inadequacies and leave the PRS alone, but we have no chance of this happening!
From:
Andy Marshall
06 December 2023 09:23 AM
To Andrew, sorry to hear your news but very pleased to see that you have been well looked after and are on your way to a speedy recovery. Like many have said here take it slow. Having been through another procedure myself and the first time i'd ever been laid up I made the mistake of running before I could walk and ended up needing a much longer recovery time. Therefore take it slow and let your body heal. All the best, Andy
From:
Andy Marshall
04 December 2023 11:55 AM
Good rescue though and who could not love Glen the crane operator for telling the media to do one. Just loved it. Not forgetting the lads on the ground as Glen could not have done it on his own.
From:
Andy Marshall
29 November 2023 23:34 PM
As for Andrew Bailey, he has contributed to the problem. He should never have allowed rates to go up the last 2 times they were raised. We would still have the same inflation. I do think though where we now find ourselves we need to stay, otherwise sends the wrong message. This bluster he is coming out with is just bluster, rates will come down in the Spring, but not by much. If I was a betting man i'd say 4.75% going into the Autumn next year, we need to encourage the economy and the rates right now, though not historically high are not helping. The housing market will improve for sellers as lenders will drop their rates as longer term they know, on the current forecasts that it is now a downward trajectory.
From:
Andy Marshall
29 November 2023 19:48 PM
I don't believe tradesmen are on £200 a day, I think the new ones might be and the ones that work for the big companies probably. But self employed appear to be on a lot more than that. Recently I had a quote from window fitters for 4 windows, ground floor. One to one and a half days work 2 man team. They quoted £3760 windows cost £985. Needless to say I did it myself. I know a kitchen fitter whom also qualified as a sparky in 6 months is easily on £2000 per week. They are all Limited Companies, and whom can blame them!
From:
Andy Marshall
29 November 2023 19:42 PM
This story may well be accurate for the period it reflects. However, imo we have passed that point. It is a very interesting market that i believe has hit bottom. We may stay here a month or 3, but come Spring and lenders offering some sweet deals it will crawl back up.
From:
Andy Marshall
29 November 2023 02:36 AM
I liked this article and I will be copying and pasting this article to my MP. I would urge all Landlord's on this forum to do the same.
From:
Andy Marshall
28 November 2023 19:17 PM
Very interesting comments form yourself, Simon and Jo. The point that we should focus on is that the Government should not be interfering as they are. The market place should be flexible so that it supports both views here. To me neither is right or wrong and neither is good or bad. It is down to the risk taker how they wish to operate. I will add that I can relate, very much, to Jo's comments.
From:
Andy Marshall
28 November 2023 19:13 PM
Fully support this endeavour and I would actively get involved with a Landlord Group that operated like this. I do regularly write to my MP. I get replies but it is just the normal Government liquid diarrhoea. I will try and write as you suggest. I do believe that Landlords as a rule are not very good at linking up to be an effective force.
From:
Andy Marshall
27 November 2023 14:32 PM
Ellie I will be voting Reform and I sincerely hope many do in order to shake up the 2 main parties. They feel that they are the only real choice and unfortunately they have been for many years.
From:
Andy Marshall
27 November 2023 14:25 PM
I kinda agree but would add with the multiples of rules coming in favouring tenants why would I take the risk of letting my property now. When a property becomes vacant I am selling. Two have and 2 will be sold once they have had their makeover. However my current tenants, whom have been trouble free, have no fear of eviction from me. I am a little worried about them feeling empowered but knowing them as I do I believe all will be good.
From:
Andy Marshall
25 November 2023 15:06 PM
Interesting article. If only Osbourne had had the brains to do it this way instead of section 24, this would have been a far better way to raise funds from Landlord's and with NI contributions acknowledge that we are a business. That said to do this now would be madness, unless of course you repealed that which has been done already.
From:
Andy Marshall
24 November 2023 07:39 AM
Hi Edwin, I understand what you are saying, but we are used to this in the South East! Any property under £300,000 is moving still. When you get above £350,000 harder to sell and much more expensive to buy due to the rates. You simply have less choice in the South East as not so many houses under the 300K!
From:
Andy Marshall
24 November 2023 07:30 AM
The Chancellor was right not to give more help to buyers, of any description. Keep out of interfering with house prices as it will only cause problems down the line. This report stinks of self interest and having greedy mouths in the trough. The only item I can agree with is the mortgage relief. We should be viewed the same as any other business. Interest rates will decide what house prices will do. If cost of living keeps falling then Bank of England will be under pressure to cut rates. Just south of 4% would be a fair rate for us to be at. But who can second guess the incompetency at B of E, they've done very little right since around 2005, in my view.
From:
Andy Marshall
23 November 2023 08:51 AM
This Government is totally deaf to Landlord's concerns.
From:
Andy Marshall
22 November 2023 23:29 PM
Agree with both of you, however if interest rates have levelled off then the increases will not be so high. As well as supply and demand costs to the Landlord will have an effect and if the rent does not stack up the property will be sold!
From:
Andy Marshall
21 November 2023 13:51 PM
Completely right Catherine. At most Landlord's have slightly paused and reflected on the EPC change and the hold on Section 21. To claim that this is increased confidence to me just shows how the questions would have been weighted. BTL is still dead in the water to most seasoned Landlord's with the big boy investors the only ones that are purchasing for cash currently and there is not that many of them in my view
From:
Andy Marshall
21 November 2023 13:45 PM
I'm not selling because Labour are getting in, to me the Tories are just as bad. I am also not panicking. You can still evict tenants if section 21 is abolished as you have the right to sell your property, or move family members in. I'm selling due to Section 24, currently I cannot balance the books, as I would like, so need to pay down the debt, not far to go now just 2 more properties. Depending how the next Government is and how my tenants are will determine what I do with my remaining 4 properties. I am getting fed up with Landlord bashing, but it's all the red tape that is causing me time and frustration and often dwindling my investment. I still do not intend to evict good tenants. As for voting, without doubt Reform Party and I do not care what their policy is on housing, currently. I want the madness of Labour and the Tories to stop,
From:
Andy Marshall
20 November 2023 14:13 PM
Sandra I would not get your hopes up. Wanting to buy is one thing, having the funds is completely different. He should be putting a case forward to get Government land or buildings and either building new properties to live in or converting existing buildings into suitable residential accommodation. This is a gimmick and enough of my time wasted on it!
From:
Andy Marshall
20 November 2023 12:35 PM
Mr Annoyed I like this analogy very much, as I also liked the tool comment!
From:
Andy Marshall
19 November 2023 22:44 PM
Repeal section 24 too!
From:
Andy Marshall
19 November 2023 12:11 PM
Each Landlord needs to see what works for them. Landlord's without mortgages have less to lose unless they rely solely on rent for their income. Mortgaged Landlord's like myself are exposed more. Though mortgaged on my BTL mortgages and still on my own house I am fortunate that I have multiple income streams. Because of this I will be withdrawing from the BTL market though not leaving altogether. Well not yet anyways, though if it carries on like this I will leave. Currently the lettings market is in ruins and only going to get worse. Governments will only realise when the situation is out of control. not long to wait in my view and the media start making it a headline story. However there will be lots of spin and guess who will not get the blame, yes Governments. Some on this forum were predicting doom and gloom a long time ago. Fair play, I can see that I was far too optimistic. Not now though. For those of us whom wish to sell our properties, with the cost of living coming down then hopefully confidence will return for buyers sooner than has been predicted. Not sure how long it will last though. Due to CGT changes no need to wait. I had expected to delay selling my properties, not now. I have 3 to rejuvenate and will start on the first next week!
From:
Andy Marshall
19 November 2023 12:09 PM
I just do not see it happen. Many Landlords will have changed from private to Ltd, at huge expense. Inland Revenue are now looking into some creative tax planning and could be costing these Landlord's a lot more money. It is almost unbelievable how the renting market could be handled so badly, yet here we are. There is no magic fix because nobody in power is looking to do this. However, eventually the penny will drop. Someone will say it's somebody else's fault and they will then re-invent the wheel. When though is the question, but not soon enough.
From:
Andy Marshall
19 November 2023 07:58 AM
Thank you for your reply. I don't discount your comment with some rising damp, I would also add that though the walls are in places almost 2 feet thick it is possible some moisture could have come through the solid walls. I had an old boy of a builder whom had enlightened me, sadly passed away now.
From:
Andy Marshall
18 November 2023 10:43 AM
I agree with Ellie, but would go further. There has been a consistent attack on Landlord's from Government bodies, media and Charities. This has severely dented the desire for Landlord's staying in the industry or investing in it. Then add in the Council's licensing scheme's and wilful choice by Council's to encourage tenants to ignore the terms of the contract when a Landlord wishes to evict a tenant. Section 24 then has penalised Landlord's to such an extent that it is costing some mortgaged Landlord's to have properties let! When you factor in the higher interest rates and other ongoing charges. Not to be able to offset these costs is so unfair, yet it has been done. If you cannot make a resonable profit, then you simply get out. Then we come to the RRB. The title says it all. This is for tenants, not Landlords. Once tenants realise their new rights it will be catastrophic in my view. It will be so so easy for tenants to stop paying rent as they have a dispute with the Landlord. Of course this will backfire in the end but not after a lot of cost to the Landlord. Now, there are far more lucrative investments, without all the hassle. The shame of it is that I have enjoyed being a Landlord. I have enjoyed buying a run down house and then turning it around to be a desirable place to live. Yes I have had some unscrupulous tenants but, in the main, have had decent people whom I have been able to work in partnership with, though tipped in my balance and quite rightly so. However, in my view, the writing is most certainly on the wall.
From:
Andy Marshall
18 November 2023 10:32 AM
You're completely right Adam. Problem though is this is already happening and about to get worse. Tenants already get rent back if they successfully point out certain Landlord mistakes, whether intentional or not from the Landlord. Meanwhile try and get the full claim from an insurance company (car) or compensation from a robber whose then been caught. The next problem is I just do not see the tide turning!
From:
Andy Marshall
17 November 2023 19:47 PM
Usually the market slows this time of year, lol. But, some pressure has been taken off, but it is very small. However, I'm not convinced that the EPC argument is the biggest issue currently. The RRB is not going anywhere and once empowered tenants start flexing there new found rights re-enforced with rent rebates, let see whm will then want to invest in this market place!
From:
Andy Marshall
17 November 2023 10:37 AM
Intend, expect and looking to do are not purchases. I've spoken to other Landlord's, estate agents and they say buying, no matter who, is down, not stopped just down. More Landlords are selling than buying. The profit is not there. In 2018 with my ex-wife we had 13 buy to lets. She has sold all hers and I have sold 2 and WILL put another one on the market in the Spring. Once that house is sold that will leave 5 houses left.
From:
Andy Marshall
17 November 2023 10:08 AM
Sandra everything is relative. As Andrew has said if you do not like it move. Do not assume that Landlord's live in Palace's. I've been doing up my own house for the last 7 years, still ongoing. I'm delayed as I work plus ensure that my portfolio of properties are in very good condition. You state that you have had bad experiences with Landlord's, however over 80% of tenants have a good experience. Now, if the Government of either colour carry on then the good landlord's, in my opinion, will sell up. The ones whom ignore the rules will continue to do so, or be prosecuted out of existence. Hopefully you can see that neither option is beneficial!
From:
Andy Marshall
17 November 2023 09:48 AM
Emily, nice balanced view. I would fully support this. Knowing I would never be affected by this but would welcome rogue Landlord's being correctly dealt with.
From:
Andy Marshall
17 November 2023 09:40 AM
This is one way traffic. Take a property off a Landlord...be real. What if it is mortgaged. What about tenants that abuse property, what will be taken from them. We need an even playing field. I would like though to take the wage and pension of this dimwit of a Politician.
From:
Andy Marshall
17 November 2023 09:34 AM
I would add using your energy wisely. Ensuring you've eliminated draughts. Heavy curtains for winter. Heavy curtain against the front/back door. All good cheap practical measures which will improve keeping the heat in your home and not make money for people in the industry, what do you say Mr Gibbons?
From:
Andy Marshall
17 November 2023 09:28 AM
I understand the principle of condensation against an cold surface. However, when I have taken down walls with celotex dobbed and dabbed against an outside wall I've found loads of mould due to cold stagnant air which gets through. Re-fitting with metal battons and being 50mm off the wall gave me zero mould, though the metal did have a little rust, mainly at the bottom. This was on a French house, 17th century which I was renovating. I know which way I will be doing it in the future. I would add it's all well and good in theory but you cannot beat experience.
From:
Andy Marshall
16 November 2023 20:11 PM
5cm on an outside wall. Yeah right. You will need a gap between wall and insulation, due to condensation. Plus, plasterboard and then you have the extra work of putting new skirting board etc. I'm not against doing the work, but say it how it is. I've put outside a rain shelter with clothes line and encourage the tenants to put laundry outside, including wet towels, thus far working wonders. Much cheaper and no electricity use. This is on an older house.
From:
Andy Marshall
16 November 2023 08:14 AM
What a disappointing lot our Government have been, are currently and probably will continue to be. I am now even more motivated to sell my properties. Don't get me wrong, my current decent tenants are safe, as long as their heads don't get turned by this disastrous act. I start work next week on a refurb of a property to sell, had thought about one more let, but even if the market falls the property will go, I have no appetite to take the risk of new tenants.
From:
Andy Marshall
15 November 2023 21:30 PM
Well written Tricia, I am doing the same as you, though I am getting more and more tempted to just call it a day. I could easily refurb 2 properties a year, therefore be out of this game in 4 years. It is quite tempting!
From:
Andy Marshall
13 November 2023 21:33 PM
Excellent summary of the likely situation. Nowadays politicians don't need to think like this though as they simply get the sack and it becomes the next idiots problem.
From:
Andy Marshall
13 November 2023 21:30 PM
Michael very well said. You are so right yet again. If i'm selling my property will be vacant and will have had a full make over in order to get the best possible price. Last house I did this with gave me almost £25,000 over the estate agents earlier estimate. It had cost me just under £5k to do including the 2 months extra time for mortgage and other costs!
From:
Andy Marshall
13 November 2023 21:27 PM
Unfortunately Ellie, i am sure Landlords will have used section 21 in that way. In this country we have 'Yes people' as politicians and they simply respond to the loudest voice and then try and get the narrative to fit. This particularly works against Landlords due to envy from a lot of people and the fact that tenants feel that they are buying the house for the Landlord with their rent! Robin is indeed correct about a calm narrative and all views are taken into consideration. Osbourne is an excuse for a Politician whom started the biggest issue of bringing in Section 24. I know this particular legislation does not affect you, however if you were 30 years younger you could have been tempted to have more houses with small mortgages, but section 24 will have caught you out as it has many others now that interest rates rose so quickly. Of course I could be totally wrong with my assumption but my point is we need more Landlord's and more rental properties. For whatever reason the muppets making the decisions just are blind to this. Housing needs a growth of Landlord's and that is simply not happening. I cannot see anything changing and as a consequence I will be selling most of my portfolio, I hope to manage this with tenants leaving on their own accord. This will depend on how, whichever Government, gets into power decides to play out the housing crisis.
From:
Andy Marshall
12 November 2023 12:57 PM
Well said Michael. Shelter should be banned by this Government. They are not fit to represent the tenants they say they are here to represent. Shame on them indeed.
From:
Andy Marshall
10 November 2023 08:40 AM
All of it is broken, Michael makes some very good observations to which , in my view, he is on the right track. There is no mention of the delay of bailiffs and how effective these bailiffs are at removing a tenant in a timely manner. Lastly, too many Governments focus on bringing in more laws to fix the problem. Implement the existing laws properly . Do the hard work not the easy option.
From:
Andy Marshall
10 November 2023 08:36 AM
I have never known the market place so hard to predict. I had not expected Nationwide to state a rise in October and I had thought prices were going down. I have a house to sell in Norwich, I asked estate agents what to expect in early Summer as I foolishly thought i'd have evicted the tenant by then. I was informed put up for £190,000 and take offers over 180,000. Now i've got the property back i'm told either advertise at £210,000 or offers over £200,000. Therefore I conclude that the market is doing better than expected.
From:
Andy Marshall
08 November 2023 15:50 PM
I'm with you Nikie, I've had enough. Just evicted a tenant, not paid rent since September 2022 and was around £6000 in arrears during Covid period. Will refurb the house and sell, then move onto the next one.
From:
Andy Marshall
08 November 2023 15:39 PM
Excellent post Michael
From:
Andy Marshall
08 November 2023 15:28 PM
That's a very polite way to describe Ben!
From:
Andy Marshall
07 November 2023 19:13 PM
This is not straightforward and as always the article will be weighted to create the most controversy. It only becomes a HMO if the person staying will be there for more than is considered reasonable and does not have a main residence. As an example, if a tenant has a friend staying for a week is it now a HMO, of course not. The same would apply for a AirBNB. Now of course a lawyer may wish to confuse the matter, I wonder why!!? For added info in my experience most Council's are happy to have visits of up to 3 weeks before they start being concerned. Of course this will not be the end to the matter, as where there is extra money someone always finds a way to take it off you!
From:
Andy Marshall
07 November 2023 18:31 PM
Blind leading the blind. Not much thinking going on here.
From:
Andy Marshall
06 November 2023 14:27 PM
I too am selling, just had my house back after a bailiff evicted a non paying tenant. Had 3 estate agents round and the Norwich house prices seem to be holding up well. Will give the house a good makeover and then get it on the market.
From:
Andy Marshall
06 November 2023 02:27 AM
The Court system is in a complete mess, most are over paid and certainly have too high an opinion of themselves. The whole system needs an overhaul and in my view power corrupts!
From:
Andy Marshall
06 November 2023 02:23 AM
Hi Andrew, I raised the issue of using a High Court Sheriff to my legal team. I was informed that it was not straightforward and I would have to do what Fery has commented on. In simple terms it is weighed against us again! I have to say that the bailiff I had was excellent, had phoned me the day before and explained the process, called me again the day of eviction letting me know he was running about 20 minutes late. I guess it is luck of the draw! Chris, sorry to hear your story, I hope that it gets resolved quickly.
From:
Andy Marshall
06 November 2023 02:21 AM
Never a truer word spoken.
From:
Andy Marshall
03 November 2023 10:03 AM
It's not just the Courts that are broken. Having had my win in Court to evict a tenant under Section 21, this was in late July the earliest the bailiffs came was 26th October! A lot of the tenants property is still in the house and I have to be reasonable to allow them to collect it!! It's a joke. And of course S21 was implemented as advised after no rent for 4 months. In the end they owe me 14 months arrears plus the 3 grand arrears they had from the Covid era. The one thing I am relieved about is that the house is in surprisingly good condition.
From:
Andy Marshall
03 November 2023 08:22 AM
We have been proven to be ineffective against legislation. Well done to the organisations that challenged it in the Scottish Court. But look at the outcome! I think the only way they will take note is if we keep selling.
From:
Andy Marshall
03 November 2023 08:14 AM
Interest rates are not high. However, they are high to that which we have been accustomed for the last decade or so, this is because the Bank of England were rubbish at reviewing the data and understanding the crisis which was upon us. Ostrich mentality springs to mind. With regard to house prices I cannot see much change until the cost of living chaos becomes clearer and the Bank of England give some clear guidance on interest rates. I do know though that long term property prices will increase!
From:
Andy Marshall
02 November 2023 12:50 PM
This is beyond belief. Who do they think they are to even suggest this. We need a ban on Politicians being able to make a decision on their own.
From:
Andy Marshall
02 November 2023 12:44 PM
Interesting point Tricia and I do tend to agree with your analysis. However, I don't think it will work for the next few years and for some not at all. It will cause a lot of discomfort and misery for both tenants and Landlords.
From:
Andy Marshall
01 November 2023 09:53 AM
It is my house and I will let the property on a case by case basis. I have let to DSS and it has worked fine, I've let to working professionals and have had problems. I will NOT be dictated to or micro managed. This Government and the one in waiting have over reached and the Housing Market is paying the price. When will they learn! Or will they ever, the latter i assume.
From:
Andy Marshall
01 November 2023 09:30 AM
James, go and see what other countries do, especially their Governments. They reward Landlord's to be Landlord's. This results in cheaper rents. Our Government are doing the opposite and necessitating rents to rise drastically. Yes some Landlords are greedy and yes some do not follow though on their obligations, but this is the minority in the same way that most tenants are good tenants. What is happening currently is bad for all of us invested here and as such the private Landlord will disappear, not a good scenario for obvious reasons.
From:
Andy Marshall
31 October 2023 09:08 AM
Sums it up for me also. Have just got my property back after after just over a year of having a non paying tenant. Two court appearances and a wait of almost 4 months for bailiffs to evict this tenant, with no chance of getting any rent back....not a penny. What does the Government then do, well they put their big foot on my neck to squeeze whatever else they can from me. With the housing crisis you'd think they would invest in me to get the house ready to re-let. We now live in strange times!
From:
Andy Marshall
31 October 2023 08:54 AM
I'm with you on this Jo. If one of my long term tenants wanted to do this then I would agree. I would ensure that they are advised on the rules, which do not affect licensing and the like suggested below. Main principle being like a hotel, it's not their main home. I would add that this is a choice and every Landlord should be able to say yes or no, as they decide.
From:
Andy Marshall
30 October 2023 18:58 PM
Talked about blinkered thinking. We all know the issues here as a Landlord whom has mortgaged properties. Even though I am at around 45% loan to value it is no longer a good business. It makes financial sense for me to sell to bring this ratio down further. Therefore less houses to rent. What incentive is there for new Landlord's to enter the market! One way traffic for tenant's is one way traffic for a lot of Landlord's to sell. More misery for all and has already been pointed out, no change when Labour get in!
From:
Andy Marshall
24 October 2023 07:04 AM
Yet more reasons for Landlord's to put their properties up for sale, the Government would be more useful if we turfed them out and turned the House of Parliament into just that.....a very large HMO!
From:
Andy Marshall
24 October 2023 06:55 AM
No chance, Labour will be in, though i would love to be proved wrong. And yes Mr Sunak, deal with S24
From:
Andy Marshall
21 October 2023 03:31 AM
The penalty for this Landlord is way too low. Should be a couple of thousand at least. It would be a welcome change for me to get paid for getting rid of tenant's belongings. Council policy at dumps or as they say now recycling centres is also to blame. These policies have meant that there is more fly tipping.
From:
Andy Marshall
19 October 2023 08:57 AM
It is out of our hands. Most, if not all Landlord's whom hold a mortgage with more than 50% loan to value will end up selling. Rates will drop but not much, in my view, and with Section 24, maintenance etc it is simply not viable. Depending how the new RRB works it will then be a decision for mortgage free Landlord's if they wish to remain. My concern here is that the judicial system is broken and no amount of promises will change this. The tenants will feel very empowered and will have nothing to lose now in challenging their Landlord's. There will be very few new Landlord's investing, so at sometime in the future, whichever colour Government are in power, it will change back. If I ever needed an example of how Britain has become broken I can now just look at how this Government and Labour howling in the background have wrecked the PRS. It does not take much imagination to see how this must work in other area's, Judicial System, NHS, HMPPS and the list goes on....all success stories....not.
From:
Andy Marshall
19 October 2023 08:51 AM
Hi Sandra, this is not a clear cut situation. Yes there are some greedy Landlord's but they are very much the minority and yes there are tenants that are shockingly bad, but again the minority. We are living in a media driven world with a useless Tory Government that are clueless. The truth is the majority of Landlord's and tenants get on fine. The cost of living crisis and the useless actions by Bank of England have caused massive problems on top of decisions by the Politicians. The problem is that I do not see this improving anytime soon, therefore Landlord's are leaving, myself included and to be honest I will be the poorer for it and tenants will have one less home to rent each time I sell a property.
From:
Andy Marshall
16 October 2023 09:34 AM
I'm with you on this Vibha, it still does depend on the base rate but the B of E and the Government are really tip toeing through the daisy's currently. In my view some brave movement from the Bank of England to drop rates by 0.25 in order to give business confidence. It is imperative that the economy becomes the focus.
From:
Andy Marshall
11 October 2023 03:21 AM
Will their insurance scheme cover this as promised. I looked at it but in order to set it up cost too much money for me!
From:
Andy Marshall
06 October 2023 18:13 PM
Completely agree with the sentiment here, though I prefer 30's and 50's houses myself, but take nothing away from Victorian and Edwardian houses that are beautifully built houses though , in my opinion, not as practical.
From:
Andy Marshall
06 October 2023 10:08 AM
Very informative Martin, I could agree with all that you have written for a change. Can you give an estimate to the cost though?
From:
Andy Marshall
06 October 2023 10:06 AM
I'm singing off the same song sheet as you Jo. Long term tenants for me is great. My longest tenant moved in in 2002! Never a problem, very low maintenance and a pleasure to deal with.
From:
Andy Marshall
04 October 2023 10:03 AM
I'm annoyed Mark, though fully support rogue Landlord's being prosecuted. i would worry how this would be implemented. Would like to be assured that due process would be adhered, however , I really do not like this one way traffic. It should be Landlords and Tenants Reform Bill and therefore Rogue Landlord and Rogue tenant Register!
From:
Andy Marshall
27 September 2023 20:04 PM
You could well be right Jo, 5 years ago I had 13 properties. I now have 7! Will be selling 2 more in next 18 months, mainly due to the Government policies.
From:
Andy Marshall
22 September 2023 10:51 AM
This Government failed to have any real contingencies. They allowed themselves to be drawn into popular choices instead of doing what was best. Landlord's grew when social housing was re-defined. Then with cheap interest rates a lot of lower income, working class individuals with a determined entrepreneur spirit and a fair degree of risk decided to become Landlord's. On top of this were the individuals whom could afford to buy a second home and move into it and rent their old home as the value had taken a knock or that there were no buyers. Therefore for a short period there was a boom of an industry. Osbourne, instead of concentrating on the economy and encouraging the Bank of England to raise rates then decided on attacking Landlord's. He certainly didn't factor in any other potential issues further down the line. This Government then have been hit with problem after problem, war in Ukraine, Covid and not forgetting the woke viewpoint and the green agenda. Now interest rates are higher, but by no means high and that the policies that the tories have brought in are just making many businesses unviable, certainly not an industry worth investing in. This is the problem currently and is very ably demonstrated by the Housing situation. We've now seen one little glint of light with the slowing down of the green agenda. I hope that the Government can now review some other policies. Anything which makes it cheaper for a Landlord to operate will without doubt be better for tenants. More choice for tenants will increase the standard of rental properties, though some tenants will prefer a more basic property if the rent is at the right price. All governments need to take note of the last 15 years of often unnecessary interference. They certainly need to learn a light touch when it comes to steering the economy in my opinion!
From:
Andy Marshall
22 September 2023 09:15 AM
If a tenant has a short term problem, then they can contact the Landlord and most of us can work an agreeable way forward. Tenant's that do not contact you, without due cause, and then simply do not pay and perhaps ignore your calls, it's evict all the way. If you need to borrow, then contact a bank. But just stop paying them and see what happens!
From:
Andy Marshall
21 September 2023 14:40 PM
Well said Jo, they should also look at the cause of rent increases and look to tackle this also. However, so easy to blame the nasty Landlord's!
From:
Andy Marshall
21 September 2023 09:12 AM
Sorry, not in agreement. The buyer can buy a cheaper older property or buy a more expensive fully insulated property. Personally i'd buy the older property for build quality. Nobody discusses the use of energy. People whom want to live in 25 degrees heat and wear a t-shirt all year round and don't close doors and windows should not be supported in their choices by the tax payer or anybody else. Here's a thought, take responsibility for yourselves!
From:
Andy Marshall
21 September 2023 09:06 AM
One small step in the right direction. Let's see some giant leaps and bin the RRB and Section 24.
From:
Andy Marshall
20 September 2023 22:02 PM
The Court system is broken. All cases take far far too long to get resolved, including justified repossessions. Empty promises and assurances from this broken Conservative Government are completely pointless and ineffective. If the RRB goes through Section 21 will be lost and the Court system will not be able to cope. I am still waiting to hear from bailiffs 6 weeks after the 2 week period that the Courts stated the tenant needs to be out. This country has so many challenges ahead since both main parties have really let us down over lack of investment in energy, road, public services and the list goes on. Reverse the poor decisions that have been made with regard housing and let the market forces dictate. It will be better for everyone. Fully discharge the law against the rogue Landlords and the rogue tenants, this will safeguard and benefit the majority of good Landlord's and good tenants. It's not rocket science.......it's incredible how they have all messed this industry up!
From:
Andy Marshall
20 September 2023 09:05 AM
I too do not see that Nick's comment is being racist, he is simply stating relevant facts. I do not agree with finger pointing at different nations as to their honesty, though understand why people do especially after a poor experience. I have had far more issues with English tenants than any other group, this would make sense though as the ratio has been higher. I can only see tenants becoming further empowered to challenge Landlord's and use it as an excuse to not pay rent, I cannot see the legal system improving much pver the next decade in order to tackle this problem and as such will be selling between 2-4 houses over the next 30 months or so. The remaining 3 I will keep, however, if the existing tenants leave then they too will be sold. I have had a good run with BTL but for me the writing is on the wall. I would not advise anyone not to do what I have done, but I do think you will need to set up a Limited Company, i did look into it for me, but have decided against it and prefer to refurb and sell what I have.
From:
Andy Marshall
12 September 2023 12:05 PM
I think he means don't buy a house and put it in a higher rate savings plan!
From:
Andy Marshall
12 September 2023 11:48 AM
I'm in a similar boat to you, I have also sold 2 properties, have delayed selling another one and still waiting for bailiffs for one in Norwich that I intend to re-furb and sell next year. Will then review but as it stands likely to be selling more, enough is enough!
From:
Andy Marshall
12 September 2023 10:48 AM
Hi Karen , I can wholeheartedly agree with a lot of your comments above. It is back to the days when I first started my portfolio but now Landlord's are vilified and it does give me much less pleasure being a Landlord. I can see myself buying a run down property, carrying out a re-furb and then selling it. Far less hassle but will still give me something to do in addition to my normal job! The problem for a Landlord now, whom also has another income, is Section 24 tax. Not being able to offset the full loan as all other businesses can do means that the Landlord now unfairly gets pushed into the higher rate of income tax. BTL would never have happened if this had been the case in the past. This Government and any future Government need to encourage future Landlords not disincentive them. I would also be wary of Government interference with people buying a property as this will cause problems, this will need to be looked at very carefully so as not to cause undesirable consequences!
From:
Andy Marshall
12 September 2023 10:37 AM
Hello Martin, thanks for your input. I'm sorry to say that your missing some points. An EPC in a lot of instances is an opinion by the person whom has carried it out. They cannot and do not measure the heat loss or the consumption of energy that a particular house uses. It is based on what some so called experts have assessed will be achieved when a house is fitted with certain insulation and energy useage by equipment in said houses. A true measure would be the energy consumption. This can be easily achieved by homeowners releasing their property consumption use per property. This could be free! The problem here though it will show what a load of rubbish some people have been spouting. Yes, in general adding some insulation keeps heat in, but it's all about the installation and build quality, which is very rarely mentioned. Lastly, heavy curtains, draught excluders etc also make a difference along with the correct use of heaters. But of course money cannot be made out of common sense!
From:
Andy Marshall
05 September 2023 08:36 AM
Really! A property with a history of subsidence is now only affected in it's value due to climate change, hmm. Damp and mould - this can be remedied and created often by the occupants.....sorry are they part of the climate change? Flooding - Same as subsidence, has always affected prices. Energy efficiency - With interest rates more like the norm now this will affect prices far more than an A/B or a C!
From:
Andy Marshall
05 September 2023 08:06 AM
John your observations are excellent, except the Royal Family as a lot of what they appear to own they don't it's the country that own them. But yes they do not have to pay tax, but they do choose to do so! However, I do get the point you have so well made and agree. There is corruption in this country however it is the rate of incompetence that alarms me. Everyone seems to have their snout in the trough and it's a case of get what I can. Until we start reinforcing consequences and get the legal system fit for purpose we are lost!
From:
Andy Marshall
04 September 2023 22:08 PM
I'm with Jim on this debate. Again not condoning this Landlord's behaviour but rectifying, making the property safe and taking the money from the rent seems a very sensible way forward to me. Charge the Landlord for all costs. To me it's a win win. If a punishment is needed, 100 hours community service would be sufficient!
From:
Andy Marshall
31 August 2023 03:20 AM
Martin, in truth i'm not sure anybody knows. Our records are too knew to have any scientific basis. As an example it is well documented that the Roman's grew grapes in the vicinity of Hadrian's Wall. However, today these vines would not survive. Archaeologists apparently have proved this. This data is some 1800 years older than the 200 years that we have records. Hence the scepticism. The terrible wildfires could be simply down to a weather system that happens, like our long hot Summer of 1976. However, I'm not one to force my opinion so make of this what you will. I do think being on the side of caution is a good approach, but in a Sensible way.
From:
Andy Marshall
31 August 2023 03:12 AM
With 7 properties I think you will be considered a medium to large Landlord. Small normally is 1 property. My accountant has 150 Landlord's he looks after, I was his 2nd largest Landlord when I had 14 properties, the next nearest to me was 5 properties but vast majority just had one property. I am now down to 7 properties and will be getting smaller for the very reasons you have mentioned.
From:
Andy Marshall
29 August 2023 13:52 PM
The Conservatives need to have a long hard look at themselves. They have really mis-managed the economy, large projects and have overly complicated Brexit and Covid with mad untraceable payments. I have no faith in this Government or Labour, if or when they get in. If they cannot simply work out that the PRS needs to be encouraged to invest in then we really are doomed. Small businesses are also in the same boat as us. It really is unthinkable that this is happening on the Tories watch. I see that fuel prices are on the increase again, is this a precursor to energy rises about to explode!
From:
Andy Marshall
24 August 2023 12:19 PM
Bank of England has been slow to read the situation also. I know hindsight is the best view but anybody whose had a mortgage or someone with savings knew that the ultra low interest rates were a problem in themselves. There should have been some small increases as far back as 2014 in order to give thoughts on perspective. It was allowed to go on far too long and it will hurt a lot of mortgaged households whether they are owner occupiers or Landlords. B of E need to work with the economy and not just focus on inflation.
From:
Andy Marshall
22 August 2023 17:22 PM
I see the situation similar to yourself. That said, I'd be the first to admit that I din't think base rate would go this high!!
From:
Andy Marshall
22 August 2023 13:57 PM
This sounds more like scaremongering to get business than good advice to Landlord's. Sell and pay down debt is the best possible advice currently.
From:
Andy Marshall
22 August 2023 03:24 AM
There are Landlord's with mortgages and those without. This is a significant difference and means that each party will have very different priorities to each other. I applaud Jo's views, mine are very similar. I do not mind having long term tenants, in fact I prefer them. They can only be long term as long as they look after the property, if they don't then they are not going to be long term. This then means that Section 21 being removed is not to my liking at all. We will all make our own choices as to what we do with our properties, but anti-Landlord views will not go away. Like many on here I will be selling, but only when a property becomes empty. Hopefully, I am almost at the end of the only eviction I have had to do and I can categorically state that the current system is not fit for purpose. My remaining tenants I have had for years and have been outstanding, I am confident that this will not change. I would no longer recommend anyone to become a Landlord as Government's of either colour appear to only wish to squeeze the money from you into their wasteful coffers!
From:
Andy Marshall
22 August 2023 03:18 AM
I work in this industry. Take note of Andrew's comments and it is a big fat no from me as well.
From:
Andy Marshall
22 August 2023 00:38 AM
Good comments yet again Michael though I do think the Government could offer something with CGT to maybe encourage some Landlords to keep letting. The Government need to make a buffer zone for themselves in order to give time for them to try and sort out the housing disaster that they have clearly not seen coming. To us the situation has been crystal clear, makes you wonder about other areas in Government too.
From:
Andy Marshall
11 August 2023 09:05 AM
We are now learning that consequences no longer exist. It will be just a matter of time before they will need to rethink all these woke policies. There is a fair system and there is stupidity. I'm glad I work part time and look forward to retirement, though plenty of overtime for me due to the points that Nick's girlfriend has raised, but in my case not the NHS but MOJ!
From:
Andy Marshall
09 August 2023 11:28 AM
Spoke with the company whom I have appointed to sort this and they have said I can't use sheriff's as I used the accelerated procedure, plus Courts are now reluctant for Sheriffs to be used! I've been advised to get a lock smith in attendance and they will gain access and the bailiff will do the rest.
From:
Andy Marshall
07 August 2023 21:10 PM
Thanks guys, point noted
From:
Andy Marshall
06 August 2023 21:08 PM
Like many here I can applaud the comment made by Mr Beadle in this article. I would also add why has it taken so long. Section 24 out keep section 21. They can amend s21 but do not get rid of it. I have had to evict a tenant and s21 was used. Our Court system is broken. It has taken me since September of last year to get a possession order. No rent paid by the tenant in this time. No chance of getting this rent back and now back to the Court to get bailiffs, which could take a further 2 months. The tenants has blatantly lied to the Court, but who checks this. Like others on this site I too have enjoyed being a Landlord, but now being taxed so unfairly, vilified in the media and now my rights and control over my business being taken away from me, well i'm leaving. I am open to changing my mind if I see some positive changes, but currently I will be selling as and when my properties become empty. They will be sold to my advantage, which would not be right now, due to the state of the market, but hopefully in the Spring if market confidence returns by then!
From:
Andy Marshall
06 August 2023 05:52 AM
Wrong decision in my view. Bank of England should have put rates up years ago and now are putting them up unnecessarily. They should have held firm around 4.75% in my opinion to give growth in this country some hope. Time is needed to allow the 12 rate rises to have time to work. In my view Bank of England are now playing politics to get the PM down to his promise of 5% inflation. Who pays is of little consequence to these parasites, or what the price will be!
From:
Andy Marshall
03 August 2023 15:58 PM
Interesting comment Rainy day! When is it winning if the game is rigged. This is why there is moaning as you put it. Maybe look at it the other way. If private Landlords leave where will renters rent?
From:
Andy Marshall
01 August 2023 02:38 AM
Hi Nick, your absolutely right it is a risk. I completely disagree with what the Government is doing. However, I will not let them change me to where my conscience lies.
From:
Andy Marshall
27 July 2023 18:58 PM
Peter, very succinctly put. I agree with your sentiments entirely. I am at the very beginning of getting 2 further properties to sell. I have already sold two. My issue is that I have 3 excellent tenants and in a real quandary in how to approach this. I'm also seeing if going Limited is a good idea or not. Reading your excellent comment though makes complete sense to me.
From:
Andy Marshall
27 July 2023 10:45 AM
Well I hope that they will be convincing, I'm about to start work on one property in order to get it ready to sell. Just waiting the last few weeks whilst the possession order and bailiffs come into force. Once this one is sold will be onto the next. I am hoping that the proceeds from these 2 properties will be enough to sort me out. If not 2 more go on the market. I had a good business here but Section 24 has brought me down. Shame on this Government. I consider myself fortunate in that I've been in this industry a long time and as such have plenty of equity. Landlord's whom came after me will not be so fortunate if they are mortgaged. At the end of the day it will be tenants that suffer the most.
From:
Andy Marshall
26 July 2023 16:40 PM
Landlord's with good tenants have little to fear from the RRB. However, if these tenants were to leave I know I would sell.
From:
Andy Marshall
26 July 2023 16:25 PM
Henry, I often write to my MP and in fairness she does reply to my emails and passes my comments onto the Levelling Up division of the Government. I would urge all Landlord's to do the same and to encourage their tenants if they so wish. Will it make a difference, probably not. But, you cannot and must not stay silent. EPC rules are obviously changing due to complaints!
From:
Andy Marshall
25 July 2023 08:50 AM
Thanks Paul and yes I am looking at 2 companies to possibly do this with. Can you personally recommend tax 118?
From:
Andy Marshall
24 July 2023 15:46 PM
Love this reply Tricia
From:
Andy Marshall
22 July 2023 11:59 AM
Henry, brilliant action by your good self. I look forward to seeing the results. Why oh why are not Landlord groups/representatives doing this.
From:
Andy Marshall
21 July 2023 10:03 AM
Sandra, you are missing the point. We have stepped up and our complaints are to keep us in business. Where will you rent from if there are no Landlords. Look at the state of social housing! This Government is trying to get Landlord's and tenants to be at logger heads when the simple fact is that over 80% of tenants get on with their Landlord's. I am sorry to read that you are one of the 20%, but this does not change the facts. Do not be fooled by these Politicians
From:
Andy Marshall
21 July 2023 09:56 AM
They can re-shuffle as much as they want and when they have finished playing with themselves it will just be the same same same but with a different voice.
From:
Andy Marshall
21 July 2023 08:36 AM
Excellent observation Michael, after they have finished vilifying the Private Landlords they will go for the kebab and fish and chip shops. This will be Lloyds Bank next move, to become the biggest Stavros in the UK!! Backed by the soon to be out of work blue politicians. Rightmove MUST review it's figures. Mr Gove has repeatedly stated that the measures he will bring in will not greatly change the dynamics for private landlords. I feel like i'm in a spin off of the Hitch Hikers Guide to the galaxy and I need a Babel fish desperately to understand all this lunacy.
From:
Andy Marshall
21 July 2023 08:29 AM
Martin I do not trust your agenda here. I believe you are in the insulation business and have an ulterior motive. These EPC's are just a sound bite of energy efficiency. If a resident chooses not to put on the heating or wash in cold water how is that factored in. Yes new houses should be designed with best use of resources but for older houses there is a consideration to cost to efficiency that needs to be resolved. Lastly, you can put whatever insulation in the house you want or efficient boilers and fill your roof full of solar panels but if doors and windows are left open then it means nowt. Here's a thought, legislate for residents to have an epc rating also, easily managed by the energy supplier. In this way you would save carbon as all this new technology, which creates carbon when being made, could be saved. Please note I say resident and not tenant.
From:
Andy Marshall
20 July 2023 09:28 AM
I concur with all your comments. However, I have no wish to ignore the facts. Well done to the Maluka for writing that we need better info why Section 21 is being used. This will give a much clearer picture to all busy bodies out there. In return we must acknowledge that there are rogue Landlord's also! Yesterday I had a Court hearing in Norwich using a Section 21, due to a non paying tenant, I will now either move into the house or sell it. In either case I am sure that I will have a lot of work to do there which will cost me a pretty penny. Without Section 21 this would have been drawn out for much longer and the simple fact of the matter is if the tenant has no money speed is essential in order to mitigate your losses. The Judge, I believe was very much on my side, though did appoint a Solicitor for the tenant for a 15 minute session, this did have me worried. However, it soon became clear that the tenant was just giving wild accusations with no proof. for me a 14 day possession order is a result, now just need to see if he will go or I need to go to the next process.
From:
Andy Marshall
20 July 2023 09:17 AM
Muppets still trying to predict the unpredictable. We forgive weather forecasters, but these guys, come on! I hope the Bank of England do nothing. Most economists believe it takes 12-18 months for an interest rate rise to affect inflation. Therefore the rises that took place last year are now starting to affect inflation. The B of E were too slow to react to the situation before and left rates too low, they had compounded the situation by a final tampering of our economy by some extra quantitive easing which really had added to inflation. In fairness they did not know that Putin was going to invade Ukraine, though the signs were there. What the UK does not need is further rate rises to stifle the economy further, we did to grow. If rates come down again next month I would hope they have the balls to drop rates by 0.25%. Realistically mortgage rates need to be between 4-5% for a healthy economy. They have been too low for too long, so don't be surprised by my lack of faith in Mr Bailey!
From:
Andy Marshall
20 July 2023 08:33 AM
Thank you for your post Sarah, I agree with many of your points. Sandra, many years ago I was renting and I had a very bad experience with a Landlord, but luckily I was able to move to a better place. When I became a Landlord I was and am determined to ensure that I provided good quality homes for my tenants. Comments on here referring to Councils not using their existing powers is quite right. In addition the Government have destroyed the private rental market, which in effect has made Landlord's retire from this business leading to less properties to rent. Landlord's have been a good whipping boy to hide the lack of investment Government of all colours have put into housing. We are also a good distraction for the appalling state of a large part of social housing. I am pleased to report that in excess of 80% most tenants have a good experience with their current Landlord, though I fear that this will fall as good Landlord's exit the market. All the best to you.
From:
Andy Marshall
20 July 2023 01:06 AM
One thing that the figures yesterday has revealed is that the so called experts can predict nothing. I hope that the Bank of England take note and as they do not know for sure what is to come they should do precisely nothing now. They were too slow in putting up rates, created a worse situation by quantitive easing and put interest rates up last time when they should have just held the line!
From:
Andy Marshall
20 July 2023 00:45 AM
Only 5%. More like 15%. Before I thought no more than 10% but have now revised this. Bank of England are in charge of this, seen it all before back in the late 80's, but now I understand it a lot more. B of E should back off now and let the rates they have so far increased start to bite in, but of course they won't and house prices will come down. I am doubtful there will be a crash though, as some hope!
From:
Andy Marshall
17 July 2023 16:31 PM
I'm with you on this Jo. I see my role as a Landlord as a partnership with the tenant, though in my favour. I usually want long term tenants and I mostly get on with them very well. My tenants normally stay with me for years, longest one currently is since 2002. She lives in a village where the cheap houses are circa £300,000 but the average would be £600,000. In either instance she has no chance of buying. She has only just retired at 79 and has run a business but lost it in 2008. These things happen. She has been one of my best tenants, however Section 24 is threatening her being able to continue in this property. My blood boils at this and I'm doing everything I can to make the small remainder of my portfolio work. That said I can see Ellie's and Nick's point of view. The good part is that we can both exist, or could. Section 24 is destroying private Landlord's whom have a mortgage, simple. I welcome these Fabians to get into being a Landlord. They can borrow money off the banks and would get a vast portfolio. In a very short time they would be changing their minds when the sums don't work as they pay tax on turn over and when tenants stop paying and you have a broken Court system to get them out, then maybe some reality would come to the fore. It always causes me dismay when clearly all thinking is that Landlord's are greedy people whom just want to make money. Of course we want to make money on our investment as any business, the good ones provide an excellent house and all is good, the bad one don't so much. All these busy bodies and Government muppets should allow market forces to dictate. IT WORKS.
From:
Andy Marshall
17 July 2023 16:27 PM
Hi Edwin, I don't know any different but am trying to find out. I had a conversation with less tax for Landlords back in 2018. They told me to become a limited Company Partnership. This is a recognised process apparently. Therefore when you sell your house to the Limited Company you pay minimal CGT and likely none at all. Then when the limited company sells the house, because on paper it has been bought at current value there is very little if any profit. Because you pay CGT on profit there is none to pay. However, you cannot take the money out of the company as this could trigger tax evasion. But you can use the money to pay down debt in the Limited company. This is a very simplified explanation and there are several hoops and hurdles to negotiate. As i intend to pay down debt this could or should work for me. I also need funds to turn one or two houses into maisonettes or possibly flats. My lenders are happy with this subject to necessary planning consents, in this way I can get myself back on track. My intention had been to sell, but the market is pretty rubbish now and I believe will be like this for longer than I had initially thought. I wondered if any on here had looked into similar or possibly have done what I am looking into. I did not pursue this in 2018 as it was not going to make much difference to me, however with the new mortgage rates it has seriously impacted. Plus back then the going rate was around £4-5,000 per house now it's £1500-2000. If you want to know more look at section 162 relief!
From:
Andy Marshall
17 July 2023 02:16 AM
I am currently looking at becoming a Limited Company, I am being told that I can put my properties into a Limited Company and not pay stamp duty or CGT. Ig I then sell, due to the fact that the LTD company has bought the house at current value the CGT will be minimal. I cannot get to the money, as such, when I sell the house but can use it to pay down existing debt. Well this is what I want to do anyway. Once back in profit I can then pay myself and partner on a self employed basis (i need to check this) and also get dividends subject to the company affording them. To me it all sounds too good to be true but will look into it further and see where it takes me.
From:
Andy Marshall
15 July 2023 22:23 PM
In reply Jo I was on a website that was discussing the effectiveness of increase in interest rates to bring down inflation and how long for them to kick in. This brought about a discussion on fixed interest rates. 24 million own their houses, just under half are mortgaged. Currently only 0.7% of them are not fixed. I believe this rises to almost 2% at the end of this financial year. The conversation concentrated on the economy but used these stats to show why it was not slowing faster. Time is required not higher rates as it is the few whom are paying them! I think after that it will be best guess as stats on whether a 2/3/5/7 or 10 year mortgage were not raised.
From:
Andy Marshall
13 July 2023 13:12 PM
In the past I have been more optimistic, however, Bank of England with their blinkers firmly glued to their heads are going to push this country into a deep recession. Rising interest rates only effects about 3% of current mortgages, I believe that is around 150,000 mortgages. In the next 2 years this will treble. It is a split decision how long it takes for increase in interest rates to slow down an economy but many forecast 18 months. The wisest thing that the B of E can do currently is hold rates for a few months to gauge the effect of the rises thus far. It may surprise them. I am not saying don't put up rates but currently they need to pause for a breath, but of course they won't. I can only hope that the Government can see that this warning will focus them on doing something to take the pressure off Landord's and in so doing assist tenants. I realistically do not see this happening. I have written to my tenants informing them that, if they wish, they can let out one room to a single person in their house if they wish. This will put more money in their pocket and help with the huge increases that I have had to impose. My rents have increased by £225-£300 to existing tenants (my rent had been low). If I did not have the tax with Section 24 I could ride out this storm, but needing to pay the tax on turnover is beyond my ability and working more just means another 40% tax on my earnings. But hey ho nobody is listening. I understand that Landlord's whom are no longer mortgaged are in a different position, it's all in the timing!
From:
Andy Marshall
13 July 2023 08:27 AM
You could well be right George, maybe I will do the same!
From:
Andy Marshall
12 July 2023 15:06 PM
Completely agree Franklin, I was going to raise the exact some point. Who is really representing us. With regard Ombudsmen, I've been fighting the MOJ since 2013 over pension. It has been with an Ombudsmen for nearly 4 years. My last email from them in June 2022 stated that they hope to resolve my issue by December 2023. Marvellous, fills me with such confidence.
From:
Andy Marshall
12 July 2023 15:04 PM
This Tory government know best clearly. In cahoots with just as useless Bank of England for quantitive easing , which lets face it was the biggest mistake of all. Then keep putting up interest rates, which only affect variable mortgages and new lending. Hurts property owners and small businesses whom have borrowed to grow. And lastly from our perspective, astoundingly poor judgement from how to make the property market balanced for all. I am just so fed up with this Government, but who to vote for, bring back the raving looney party. Firstly the tenant tax, Section 24 and now tenants to be made homeless with Landlord's unable to run a profitable business. 40% CGT on it's way and from Question Time now suggestions that we should pay National Insurance on this money. Complete failure from the Tories, complete mismanagement and no idea on what to do about inflation. Fingers crossed that inflation drops next month!
From:
Andy Marshall
12 July 2023 14:57 PM
A lot of Germans did not agree with the million migrants and the country has real issues as a result. Immigration is a factor but not the root. Afghan is a very complicated situation, Iraq was less so. I can agree with both arguments for occupation or not. I will say hindsight is always the best view. No they didn't find WMD, but they did find use of chemical weapons and genocide on his own people. I do agree though that we should not get so involved in other countries wars, though I do support Ukraine and how the West have rallied. Other cultures need resolving in other ways. Anyways back to Landlord issues!!
From:
Andy Marshall
10 July 2023 13:23 PM
Reasoned argument, I think you'd be surprised at the answers.
From:
Andy Marshall
10 July 2023 13:16 PM
I'm coming around to your way of thinking Michael. I have been skeptical of some of your comments but the further we get driven into the ground the more your comments make sense. Section 24 would always result in a rent explosion, it wasn't called the tenant tax for no reason. It is also precision marking of new money or of the Landlord who needs to borrow, easy pickings really. The corporate companies therefore have higher rents and a good demand, as you say they can pick off the cream. Now we have the cost of living crisis. This inflation serves the Government well as it makes the old debt less as the value of money is eroded. On the plus side they also pull in far more tax, a win win as you say. Losers are small businesses, mortgaged Landlord's and home owners. Of course there will always be a need for private Landlord's, but put simply not as many. You can also factor in that the average age of a Landlord will higher, meaning overtime they will disappear as well. Any new comer will surely go Limited from day one. I cannot see any changes coming that will be beneficial to the private Landlord, yes there is still a lot of money to be earned for those that have very little in loans to offset, but for the rest of us there is very little light at the end of the tunnel, even if interest rates come down to 3.75%, Section 24 will still put a big hole in your finances. Therefore this is the agenda as I now see it and well done to Michael for being the voice on this earlier on.
From:
Andy Marshall
10 July 2023 13:12 PM
Well said Jo, I have been a Landlord since 1992 and interest rates were higher then, but because of this Section 24 I am now break even or down on my properties. Due to selling 2 properties I can weather the storm, but it should not be like this. My thoughts are now turning to selling all my properties and retire from being a Landlord, though I have not yet made a final decision. I'm at Norwich County Court this month to hopefully get my eviction agreed on a Section 21. The fact that I have to defend a Section 21 now sums it all up!
From:
Andy Marshall
10 July 2023 10:59 AM
His focus on this article is the interest rate rises and Section 24. Yes I agree the RRB is a massive event, but for those of us that are mortgaged the interest rate rises and the Section 24 takes priority. Every article cannot cover every angle. Any voice that correctly criticises the mistakes by this Government works for me. The same for EPC's, if you have an older property you are not going to fork out money when the situation is not crystal clear. I would add when I have paid out for brand new boilers that replaced boilers that were 30 plus years old I never noticed a 30% reduction in my gas bill and i'm not talking about last years massive price hike, i'm going back 3-5 years or more. So I am highly skeptical with EPC's.
From:
Andy Marshall
10 July 2023 10:50 AM
Now isn't this interesting. Here we can see the crux of the problem. Us ordinary people are not entitled to make too good an income. We're apparently above our station and have elevated ourselves. Of course this does not apply to a developer or Ltd company. No just us commoners whom want to leave something for our children. It beggars belief that this person has the audacity to put this in print. WHO DO YOU THINK YOU ARE! The merit behind his story I do not object to actually. I do think that a long term tenant whose been consistent in paying the rent and looked after my property does deserve recognition. For one I don't increase rents and I always ensure that everything is in very good working order. However all I can say to this little small minded Bird is go flap your wings to the Government, ask them to proportion some of the CGT that they take off us unworthy Landlords and ask them to give some money to the tenant when I sell a house. Just to warn you, don't be surprised when they tell you to grow up!
From:
Andy Marshall
05 July 2023 15:50 PM
John yo are so right. Where are the hard questions. Many excellent comments above. We know that a good relationship with a tenant is vital, he should worry about our relationship with this useless and pointless Government.
From:
Andy Marshall
04 July 2023 10:04 AM
Wholeheartedly agree Ian, you have to try. Nick you are more than likely right, but if a wheel comes off they may remember our points quicker than if we don't make them, small comfort I know, but always a chance!
From:
Andy Marshall
29 June 2023 13:28 PM
Exactly, I know he is also invested here but why do we not have a spokesperson. There has been some great comments on this forum, one that sticks in my mind is why are we classed as an investment. We are regulated, many, including myself, have been on courses. We need properties licensed etc etc. An investor in stocks and shares does not have to go through all these hoops. For me I'm now having to make some hard choices, I have 2 very desirable houses in an extremely desirable area. Never thought i'd sell, have long standing tenants whom are OAP's but these properties have hardly been affected by the price decreases and it is super rare for them to come on the market. Financially I am being squeezed and due to Section 24 if I do overtime I'll be taxed at almost 50% if you include NI. If they want to level up tax hire car companies on turnover, as nobody gets tax incentives on their cars. Supermarkets and restaurants, everyone needs to eat. Of course they won't, but us...wow when does it stop. This is real discrimination!
From:
Andy Marshall
29 June 2023 13:27 PM
Jo, great analysis. CGT should be tapered, the longer you own the property the less tax you pay. I believe in Germany after 20 years zero CGT!
From:
Andy Marshall
29 June 2023 09:10 AM
Agree Michael, Gove is stubborn, but he is a survivor and if he feels the tide is turning....... well who knows, slim I know. It is a very well written and correctly weighted letter, which he had the good sense to put in the public domain.
From:
Andy Marshall
29 June 2023 09:08 AM
I partly agree with you Peter but disagree on the Governments objectives. Most importantly you have missed out quantitive easing. All western banks got it wrong, they were like sheep following each other. USA, Europe and here. Inflation has been caused by this single fact alone and the small businesses, Landlords and middle earners are being squeezed to pay it back as we have no voice and in our masses can easily be manipulated. Increased inflation reduces Government debt but also allows more revenue to flow into Government coffers through tax. Lastly, the Government want this in order to rake in money, next year is election year and they will then spend spend spend in order to show how successful they have been. I just hope the people are savvy enough to realise, however so many will be unaffected due to fixed rates that this may pass by them somewhat. In either case whom would you give your vote to instead....Labour. This country has been levelled by self serving Politicians of either party for around the last 20-30 years and I see nothing changing. I will look into the Reform Party and see what they are offering, i've listened to Tim Rice and a lot of what he says appeals to me. All I can say is for now mortgaged Landlord's are in the mire, whether now or when their fixed rate finishes. I am hopeful that this will be short lived but interest rates will not come down much in the coming years and with Section 24 profits will be very tight!
From:
Andy Marshall
29 June 2023 09:04 AM
Loved this post, still smiling now
From:
Andy Marshall
28 June 2023 08:53 AM
Absolutely right John, they've just taken a leaf out of the Government text book and wish to appear to be doing something. If they were serious they would have been shouting from the roof tops that the increase in rents was mainly caused by Government policies and then demonstrate how this occurred. They should also have been doing some positive PR and showing that most private tenants get on with their Landlords.
From:
Andy Marshall
26 June 2023 23:24 PM
Hilarious Robert
From:
Andy Marshall
26 June 2023 23:20 PM
This Government really have mastered the act of appearing to do something when in reality they've done bug ger all. Good job they have the popular press in their pockets!!
From:
Andy Marshall
26 June 2023 23:09 PM
Very interesting points you make Jakki. What also frustrates me is how we get a voice. Clearly it seems we are impossible to be heard. Of course it does not help with organisations like NRLA being highly ineffective!
From:
Andy Marshall
25 June 2023 11:41 AM
Kate, you need to be worried. If buyers are not buying and lenders are not lending then your job is at risk. I would suggest you keep that in perspective. The Central banks have massively mis judged the situation over the last few years and have made numerous mistakes that the working people are now paying through taxation. To focus on a poor family whom have over stretched themselves to buy somewhere to live really makes sense! Not. Government interfering in the housing market, offering incentives to first time buyers and half rent half buy, is now going to be a burden to many. Lastly, Section 24 will mean that some Landlord's will be paying a tax on a loss. This should never be allowed to happen. But, this Government will do nothing. High inflation means more taxes and more income for this Government. This will be short lived because next year there will be an election and they will do everything they can to convince us that this year was for the greater good and not to keep them in power. It would be no different under Labour in my view.
From:
Andy Marshall
24 June 2023 11:01 AM
Echis, you're a wind up merchant. Agree that interest rates are not high by historical standards post 2010. Section 24 tax system is a bit of a devil though.
From:
Andy Marshall
24 June 2023 00:35 AM
It is an interesting point to go before a judge to determine what a business is. Certainly worth setting up crowd funding. It's a shame that the landlord companies do not show leadership in this arena! It does not appear to be very equal on the surface.
From:
Andy Marshall
24 June 2023 00:27 AM
Also where is the promised growth going to come from. Certainly no joined up thinking here.
From:
Andy Marshall
22 June 2023 21:35 PM
Today has made you a step closer to being right, though I hope you're not!
From:
Andy Marshall
22 June 2023 21:33 PM
It's not working, wake up Bank of England. Asking 5% of homeowners whom are currently on trackers or variable rates will not work. All you had to do was do nothing, surely after all these years you've perfected that!
From:
Andy Marshall
22 June 2023 21:33 PM
The Bank of England have ballsed it up again. I was worried they would do this, but to do this and say more to come is careless and incompetent. Quantitive easing and poorly managed interest rates over the last 10 years have really got us in a mess now and for hard working mortgaged homeowners to be carrying the load is not on. Osbourne, put him up against the wall and shoot him down, metaphorically of course. His policy of section 24 will now come home to roost and ruin many a Landlord. It needs to be gone now and Landlords remunerated for the extra tax incurred. This policy on it's own has strangled investment in rental properties, deterred future Landlords and existing ones expanding. Choice and abundance of properties to rent would have kept rents down. Competition is it's own leveller. If they had wanted to calm BTL they should have brought section 24 on new lending only. At least then you could have planned and factored in your risk! I am not convinced that there can be a price crash, however, it has become more likely than less likely after today's decision. What chance now have we of getting properties ready for EPC's, I could laugh out loud, oh, except it's not funny!
From:
Andy Marshall
22 June 2023 21:31 PM
Horses for courses as they say, however being a Landlord in the South I don't have any mortgages that when i bought in excess of 20-25 years ago that are as cheap as buying a car now, super cars not included. Therefore this is partly based on geography. Bought my first house in 1988 for £52,000, re-mortgaged a few years later to start buying other houses, none were under £100,000. I could not have had so many houses if it was not for interest only, from 2007 I started paying down the debt, now wished i'd paid back more, though all of my houses are still around double what they are mortgaged at even after allowing for the amended prices that are currently on Rightmove.
From:
Andy Marshall
22 June 2023 09:44 AM
It is getting harder to predict in truth. Nobody expected inflation to stay at 8.7%. The Bank of England need to walk a steady path here and I hope no more than 0.25% today but worried that they will over react and go 0.5% or higher. Most homes are either owned outright or are on a fixed mortgage. This will keep house prices steady. For those on variables, me included, we are paying the brunt of these rises but we are the minority. Loans, credit cards etc are all up and this will curb some spending, but the Bank of England need to hold steady and allow time for their increases they have made already to effect more people. Most importantly new loans will cost more which will curb growth! What the Government could do though is get rid of Section 24 and give greater stability to the rental market. This is now a tax that will destroy some mortgaged Landlord's as it makes BTL simply not viable, if there is a flood of properties coming to the market then this will temporarily bring prices down. And if this happens then the Council's will have a problem where to house everyone during this process and this problem has been made by this so called tory Government.
From:
Andy Marshall
22 June 2023 09:25 AM
Jo very well said, I have cut and pasted your comments to my MP, not that it will do any good!
From:
Andy Marshall
20 June 2023 09:08 AM
We are definitely on a knife edge here. Let's see what the Bank of England does next and we need to see the figures on inflation. As always winners and losers when there is instability. I've said before if you need to sell you'll have to really drop the price. Despite the economy many Landlord's including myself will want to leave!
From:
Andy Marshall
20 June 2023 09:02 AM
I am amazed that someone in the legal profession has spoken up and so candidly. Well done Gina Peters. Maybe she is looking for work with NRLA, however they will not want someone as outspoken as this! The writing really is on the wall for a lot of Landlord's especially mortgaged ones. My intention is still to hold off to sell next year but appreciate that not everyone can afford to do this or have the desire to wait. I share your pain Shelley, I'm trying to evict a non paying tenant currently with over £10,000 in rent arrears and hiding behind the very slow Court system. Clearly there is no justice for Landlord's and we do not trust the Government or the Courts to change in this arena.
From:
Andy Marshall
20 June 2023 08:53 AM
I can agree with us being easy targets, yes Councils are exploiting licensing. No politicians are not idiots, they are arrogant, self serving, highly opinionated and some are easily corrupted. Worst of all they think they know better!!
From:
Andy Marshall
19 June 2023 10:12 AM
You have more faith than me Kevin, I simply fear that the Government are just reckless. They have people making decisions that simply do not KNOW and that is concerning. Reminds me of the baby officers that were given jobs of looking after buildings in the RAF, the tradesmen had them for Breakfast, Lunch and Dinner. By the time they got it together they were posted off to another role. Much better when they had the correct departments, whom knew what they were doing, running these projects. We can just see how modern Britain is going, most modern Politicians are worth tuppence!
From:
Andy Marshall
19 June 2023 10:08 AM
There are difficult choices for a lot of mortgaged Landlord's and with most of us, when the fixed rate comes to an end, could be facing mortgages of around 7% then the pain will really begin! When I started in this game I stressed tested myself to an 8% mortgage. However, Section 24 has shredded that. I've sold 2 already which has given me a massive cushion to fall back on. In these uncertain times and completely blind Government then there is going to be some further pain for tenants and Landlord's. Hopefully this will be short lived and sometime next year there will be light on the horizon. But, if legislation stays the same I cannot see this industry being a growth sector and when these large companies get to grip with this new legislation they will hit the eject button. Therefore to the odd 'doomster' on this forum, you could well be right but I think it will be in at least 3-5 years time. Just then maybe first time buyers can buy one of the newish rabbit hutches they call homes at a very good price!!
From:
Andy Marshall
19 June 2023 08:06 AM
It is not enough. I had a similar experience when I had a property in Gosport. I was down the deposit and 2 months rent. The Letting Agents went bankrupt and took all our money. The company dealing with the bankruptcy accidentally put me on a distribution list for all Landlord's whom were effected, 87 in total. Another Landlord was angered like me and we met up and started to collate info. We worked out that they had in excess of £350,000 of money from tenants and Landlord's. Of the 87 Landlord's only 15 wanted to get involved. One elderly Landlord was owed £18,000 but she did not want to get involved. I believe she was scared by this letting agent! Took all our info to the Police, the bankruptcy was frozen and the Police investigated for around 7 months, out come....not in the public interest to prosecute. The DC heading it was not happy and put a lot of effort into getting trading standards involved. They couldn't be bothered and said that the trail was cold and would be very hard to get a conviction. This is some 10 years plus ago. Whilst these fraudsters get such weak sentences and are able to keep so much of their stolen wealth, then nothing is going to change. Since then, about 2 years ago had another fraudster rent a house from my brother and I. Letting agent did a poor job of checking him out and he was another fraudster. He sublet the house in a very ingenious way. He got found out when he got recalled to Prison for not staying in contact with his Probation Officer. I checked his references and wrote, yes wrote a letter, to an address he'd given. Turns out that he was being investigated for fraud from his very wealthy ex-partner. I emailed Action Fraud and guess what, no reply. Yes no reply. Spoke with the DC investigating the fraud of the ex-partner...not his jurisdiction and suggested I keep pestering the action fraud team. It's a bloody joke!!
From:
Andy Marshall
19 June 2023 07:54 AM
I admire your confidence!
From:
Andy Marshall
18 June 2023 11:13 AM
You will be right Simon, for the reasons you've quoted and others. I just hope it only effects the high risk takers. Bank of England need to take some responsibility here imo.
From:
Andy Marshall
17 June 2023 11:16 AM
Let's face it none of us know for sure what will happen, but so far most of us have been right. The property market is going to become a mess and the rental aspect even more so. Us so called oldies have been free civil servants to many Governments with housing. Yes we have done it to make ourselves wealthier in our future lives, but by far the majority of us have provided excellent homes and a very good service in maintaining our properties. This Government should hold it's head in shame for what they are doing for us and consequently I will never vote blue. After letting the motor industry fail in this country I said i'd never vote red again either. It's a sad state of affairs!!
From:
Andy Marshall
16 June 2023 11:12 AM
I don't see it myself. Yes house prices are coming down and if you need to sell right now you'll have to make prices attractive. However, most don't need to sell now and as such when interest rates cool off then it will stabilise. Last time I looked at the figures there were 24 million mortgaged properties, with 3 million of them on variable. There is still a housing shortage and builders are not building as much now as buyers are not buying. It's still stalemate! But of course Simon is right there will be more repossessions as some will be caught out by the 12 interest rate rises and probably a 13 and 14 one in the coming months. I noticed that USA put their rates on hold this month. Hopefully before the Summer has ended we can do the same.
From:
Andy Marshall
16 June 2023 08:57 AM
Agreed, if Landlord's are hurting then they will either increase rents or sell. However, in Gove's head this is nothing to do with Government interference. The issue for us is how the hell can we be heard!
From:
Andy Marshall
16 June 2023 08:42 AM
At the very least they should look at property and regionalise it when it comes to inheritance tax. In the north where property is cheaper it works out better. Our children need to pay tax on property which we give them when we've paid extra all our lives just because of where we live. Needs to be looked at, but of course they won't, too good a gravy train!
From:
Andy Marshall
16 June 2023 08:29 AM
I'm doing exactly the same, have sold 2 already and 2 more in next 12 months. I will then re-evaluate. I've written again to my MP, not that it will do any good, but i'd rather make a noise at my disappointment and frustration by this Government. I am also going to attend a local Reform Party gathering to see what they are all about. Dark days for Landlord's with mortgages all because of Section 24. In reality rates are still good.
From:
Andy Marshall
16 June 2023 08:23 AM
With computers now any info you submit can be trawled and used later. Therefore mortgage applications had and has your date of birth. It would be a simple programme that could process all this data, without your personal details to give an average and hence this article. There are companies that pay for this info and then get paid for working these figures out! Big brother has been here a long time now for this sort of info.
From:
Andy Marshall
15 June 2023 15:21 PM
Well said Stephen and spot on with your last sentence.
From:
Andy Marshall
13 June 2023 10:30 AM
Ostrich Gove will disagree, he's already told us that his reforms will not make an impact.
From:
Andy Marshall
13 June 2023 09:02 AM
Completely agree Jo. I'm getting hammered now with the Section 24 scam that this Government have been able to introduce. Shocking abuse of power. How can you change an agreement that has been agreed in law, my mortgage deal is for 25 years. Section 24 should have been introduced on any new mortgages and re-mortgages which would have allowed Landlord's to plan. In addition how can we be treated so differently. We are supposedly not a business and yet we get taxed harder than any other investment. Levelling up, mortgaged Landlord's are clearly being levelled!
From:
Andy Marshall
13 June 2023 08:59 AM
Have signed, hope it makes a difference!
From:
Andy Marshall
12 June 2023 00:56 AM
Once confidence returns to the economy in general then house prices will stabilise. If buyers come back in droves, then prices will go up. Many buyers whom rent will be incentivised by the impact of high rents and with lenders offering 100% mortgages and 35 year mortgage terms then to me there will be plenty of buyers. The unknown is when will confidence return!
From:
Andy Marshall
10 June 2023 14:52 PM
Completely agree. Having to go to Court to evict a tenant, the last thing I want to do is go to Court to get a proper service from a letting agent. Much easier to do myself.
From:
Andy Marshall
09 June 2023 12:03 PM
I'm thick skinned, easily ignore the media. What concerns me is how the Government are acting towards Landlords. They seem to be easily led by media and by these so called charities like Shelter. Charities need to be carefully scrutinised by Government, over paid and lacking in experience most of them.
From:
Andy Marshall
09 June 2023 11:59 AM
If the Government break the housing market, it might get them to reconsider, however it will be too late by then. These figures are only going to get worse as there is a lag between the figures and what is actually happening right now. The figures therefore cannot reflect now. IMO we still have a ways to go, but hopefully this will only be months and not years, as was the case in 2008. Though I am selling I will not be bringing anything to the market place until next year. The forecast for interest rates next year is 4.25%, we shall see! In my case fingers crossed. I am looking at re-mortgaging (around August onwards) if any good deals still out there then and for the first time doing a tracker.
From:
Andy Marshall
09 June 2023 11:29 AM
I tried France for 4 years, French look after the French though. Still I enjoyed the experience, but needed to come back for personal reasons. I may consider another country again as I cannot see the situation here getting any better anytime soon!
From:
Andy Marshall
09 June 2023 11:14 AM
Wholeheartedly agree with this statement. Simply put they have been absent in any debate and in my opinion pointless in this arena. Hence I took the decision to not renew my membership. I would add that Landlord's seem to be too independent of each other when we should link together to form a strong voice. How may signatures did we get in the end to get the Section 24 debated, not sure we reached the 100,000 that we needed, as an example.
From:
Andy Marshall
09 June 2023 11:08 AM
Feel the pain! For Landlord's without a mortgage not an issue, but for the rest of us and our tenants we're in for a bumpy ride. The old adage plan for the worse looks like may come home to roost. We are being told that further rate rises are on the horizon, borrowing will therefore become more expensive. The Government need to reverse Section 24, otherwise rents will keep on rising, if they don't they will see further Landlord's either selling or facing bankruptcy.
From:
Andy Marshall
08 June 2023 10:32 AM
Nice try by the Council but way way too late!
From:
Andy Marshall
07 June 2023 11:50 AM
But when you submit the Section 8 and Section 21 the Court wants evidence. Not straight forward, may need to be assessed by an expert. Currently tenant has submitted a defence against a section 21, waiting on a Court date and I need to defend my actions!! I'm the one that's owed more than 4K in rent. It's beyond a joke
From:
Andy Marshall
07 June 2023 11:38 AM
Unfortunately I've been a victim of this, the Police are very poor in this area, in my experience. Had the most comprehensive references and checks carried out and still got stung. I always have robust insurance so I did not lose a penny and the house looked great afterwards, but would not want to go through this again. Best advice, keep checking your property monthly until you know your tenants are legit.
From:
Andy Marshall
07 June 2023 09:04 AM
I agree with most of the points above, but still where is our voice explaining it from our point of view. This Agent has covered a small fraction of our concerns but is still just scratching the surface. Henry S raised some points that I had not fully considered. It is our investment and we should be allowed to be in total control, though I agree need to be transparent in our decision making. If we have a rogue tenant then the law should be swift in implementing a fair outcome. This has been eroded over the years and Landlord's have resorted to Section 21. Now this being removed has scared us as we know how inadequate Court's have been. No amount of promises will change our minds. Section 24 has crippled a lot of Landlord's and is a very unfair tax. It does not matter whether you are interest only or had commercial loans, if you are taxed without being able to take away the loan payments it is only going to push up rents, and weaken us financially. Government action encouraged by Shelter and others have caused rent rises. If they had left well alone none of this would have happened. If they had not allowed 100% mortgages and other incentives the market would have remained more settled. Any Government needs to think long and hard before they tamper with the housing market and they really really need to look at what they have fooked up so far and hopefully have a better understanding moving forward. Incidentally I have zero hope of this happening! We have all worked are arses off to get where we are with our properties and for these Polictician's to spout about unearned income is a gross misunderstanding of a working persons abilities and just goes to show how out of touch these morons are. Very few of us, if any have had our properties handed to us on a plate, whether we work extra elsewhere and pay someone to look after our properties, or whether we work on them ourselves, it is still our work and our money and we need the Politicians to know this.
From:
Andy Marshall
03 June 2023 13:46 PM
Very succinctly put Michael
From:
Andy Marshall
03 June 2023 12:58 PM
Councils should concentrate on social landlord housing also. How many tenants complain and how much is done. Bloody double standards. This just demonstrates that licensing has been a waste of time in raising standards.
From:
Andy Marshall
02 June 2023 09:38 AM
I will have sold 2 before next election and possibly 3 depending on changes I hope to get planning on the third property. Until I can see a strong head wind of change I have no desire to stay in this industry. I am keeping 3 which have fantastic tenants in, but when they go I will sell, hopefully in that time prices will go up which will offset the CGT change, if or when it comes.
From:
Andy Marshall
02 June 2023 09:34 AM
I don't see a problem with this if managed properly. When you stay in a hotel in France you pay a tiny percentage on top of your room in most locations that is a tax. If I was a resident and did not benefit from tourism then I'd welcome the fact that the visitors make a small donation. To me it's all about percentages. An extra £1 for a night stop seems fine. the same as a 10p to 50p on a meal as it should not just be about property owners. It does need to be explained as a tax to improve and upkeep amenities. Locals should not pay. I can't see why tourists coming to this country in their cars should be taxed road tax on the days they are here. It would be quite easy to action at ports etc. When i'm on toll roads overseas I need to pay!
From:
Andy Marshall
02 June 2023 09:29 AM
The rate if it goes up a little bit will not make that much difference imo, it is the bank's sentiment which rules currently. Lenders work on futures and if it looks worse then mortgage rates will be tough as lenders will not want to lend or certainly not at lower levels. It is hard to predict as we keep getting told so many factors. However, it will not be in most people's interest to see a mass of property repossessions as this will affect the economy and well being of many hard working individuals. Government need to stop giving out freebies to those who can work but choose not to and focus on the hard working ones whom are now on the edge. This works for mortgaged Landlord's through no other reason than having to pay the unfair section 24 tax that the Government squander, see article on illegal occupant in council properties. I am in no doubt that this will be an isolated case. Therefore rents go up, Landlord see's none of this despite rising costs and Government coffers get filled. Same when selling, 28% of profit goes to the Government!!
From:
Andy Marshall
02 June 2023 07:39 AM
Very good point Simon, on my Norwich house they offered £170,000, one similar on rightmove was on at £215,000. It may have sold now also as has been removed. Last summer these houses were advertised offers over £240,000. This demonstrates how things have changed. For me the question is how long will it last and in which direction will it go?
From:
Andy Marshall
02 June 2023 07:28 AM
I did approach one of these companies, not sure if this one or not. They offer stupid prices and I told them so. If you are desperate then I guess you have no choice, but auction would also be my preferred choice if not winning in the usual way of an estate agent
From:
Andy Marshall
01 June 2023 15:32 PM
Yes we are in a mess and yes there is currently no end in sight. However it will turn a corner and for those whom need to sell there will be time before Labour get in and raise CGT to 40%. I have to admit that I thought that interest rates would peak around 4.00%. It has gone 0.5% above that and I hope that the Bank of England can hold it here and let this rate fully come into effect over next few months. However, I am no longer confident in this and will make plans accordingly. Good luck to those whom need to sell now as it will mean a price drop i'm afraid!
From:
Andy Marshall
01 June 2023 15:25 PM
Well said many of you above. Never thought that I would be in a position where a Government have wilfully and blatantly abused their powers to bring down an industry. I am in the process of using a section 21 to get a non-paying tenant out of my house in order to sell. He has appealed and now I need to go to Court to fight his made up claims about the house being unfit to live in. More time that he will live in the property rent free and more time before I can get in there to do it up and sell. I can only see this getting worse as tenants will feel more empowered. There is no way now that I will continue as a Landlord, apart from 3 long term tenants that I have, but these are now in danger with the costs that I am currently having to face because of poor and short term Government thinking/policies.
From:
Andy Marshall
01 June 2023 15:18 PM
Absolutely right Steve. They should now profile and look into other cases but first make sure that their current checks are robust enough to ensure that this does not happen again.
From:
Andy Marshall
31 May 2023 09:35 AM
When are we going to have a tenant database, if you're a tenant, or have been a tenant or thinking about a tenant you must register and could face not being allowed to rent if you fail to register. Equal opportunities I say.
From:
Andy Marshall
28 May 2023 08:27 AM
Good point Andrew with regards company house, but i understand you can set up addresses and PO Boxes for companies!
From:
Andy Marshall
28 May 2023 08:25 AM
I have written to my MP and advise all here to do the same. There is no need for our addresses or other private info to be in a public domain. I am ok with my tenants having these details but not anyone to browse as they wish. Does anyone know if it is run through a letting agent or Ltd company do they still have a right to your home address?
From:
Andy Marshall
26 May 2023 17:29 PM
The Ombudsmen is all well and good on paper but in real life it is very different. Firstly the Ombudsmen should ensure that the tenant is paying the rent. If not paying then they should insist that they do. If they win the argument I have no issue with resolving problem or even giving a rebate, I say this as if it is a fair playing field I will ensure that this will not be the case. I keep my properties in tip top condition and rectify very quickly any issues as I repair myself. In reality I believe the Ombudsmen will be heavily weighted in favour of the tenant and will have no power of enforcement over the tenant, but of course will be highly effective against Landlords.
From:
Andy Marshall
26 May 2023 17:06 PM
Very well presented Nick and I agree. I have posted this in another post: I'm having an absolute nightmare evicting a non paying tenant from a property in Norwich. They have submitted a defence against the section 21 and I'm waiting to see what the Court wants me to do next. The defence is 95% made up nonsense with a tiny amount of fact. Never had a tenant behave like this before but feel that it is a direct result of the anti Landlord campaigns. This is a real warning to me. But to have one house where I have to pay the mortgage yet the tenant has not paid me rent since September 2022 and at that time was £3000 in arrears due to Covid and change in jobs. We have no voice and I can only see this getting worse! They have added mould to the list of issues,I lived in this house and never had a problem. I can only see processes getting longer and allowing tenants to have more time to live in our properties rent free. Like Nick I am leaning to selling my properties, though do have 3 outstanding tenants that I currently intend to keep. Edit Like Report
From:
Andy Marshall
26 May 2023 16:57 PM
As Nick states yes you do. The Gateway is also complicated. Fortunately I took a decision to employ an accountant and although I have to pay them twice, once for the 60 days CGT and then again for my tax return I felt it was worth it. Plus their fees are also tax deductible. Two sold, will sell 2 further and then decide what I will do with the remaining as will have virtually paid off all mortgages, but I am not sure I want to stay as a Landlord. I'm having an absolute nightmare evicting a non paying tenant from a property in Norwich. They have submitted a defence against the section 21 and I'm waiting to see what the Court wants me to do next. The defence is 95% made up nonsense with a tiny amount of fact. Never had a tenant behave like this before but feel that it is a direct result of the anti Landlord campaigns. This is a real warning to me. But to have one house where I have to pay the mortgage yet the tenant has not paid me rent since September 2022 and at that time was £3000 in arrears due to Covid and change in jobs. We have no voice and I can only see this getting worse!
From:
Andy Marshall
26 May 2023 16:46 PM
Yes it is very possible, however if interest rates hold then in time inflation will come down. The full effects of the current rises have not kicked in and the B of E need to give this time, if they carry on putting rates up as they have been they will cause more harm. We ned moderation in all areas now.
From:
Andy Marshall
25 May 2023 11:26 AM
Stupid article, he just wants to be seen as champion for the people. Not the motorist though! Government getting rid of fixed rental periods will only make the matter worse. He should concentrate on getting brown sites to build more housing. But he is a strong believer that it is always somebody else's fault.
From:
Andy Marshall
24 May 2023 10:14 AM
Biased reporting, not enough details. Why are the Council's not doing spot checks with the money they are getting from licences. Lazy council's supported by poor Government policies, with ineffective Courts and penalties. And so the circle goes round and round. More stupid legislation, lazier Councils and muppets as politicians! Need I say more!
From:
Andy Marshall
24 May 2023 10:10 AM
Self cert was a terrible product. This was a large part of the problem with the financial meltdown in 2008. Many self cert mortgagees would have been dead in the water if interest rates had not been reduced to near zero rates. Happy that it worked out for you as maybe you didn't push it too far, but so little regulation was madness!
From:
Andy Marshall
23 May 2023 16:24 PM
Apparently big business are becoming Landlord's, Lloyds Bank, John Lewis etc. Guess which tenants they will be getting. Maybe then these big boys can lobby the Government and get them to change course. Anyways will not be my problem, I will just be keeping the 3 that I have excellent tenants in, the rest will be renovated and sold. Need to beat the deadline of the next general election so I don't get burnt if Labour get in!
From:
Andy Marshall
20 May 2023 14:59 PM
Mine is still ongoing, submitted end of December. Hate to think what state the house will be in, however it will be the last time I do a makeover on this property, as will be going on sale. Tenant had until 12th May to submit a defence!
From:
Andy Marshall
20 May 2023 14:53 PM
Very good point about LL's with no mortgage. I do not believe the author of this bulletin. PRS is definitely in decline. With interest rates up, less profit for investors being one factor for new money. Stagnation fears in property prices being another. With Section 24 affecting those of us with mortgages and the threat of 40% CGT on the horizon, currently is massively effecting this market, imo. Yes, some LL's may buy in a newly formed Limited co. but I think that will be the smaller figure to those selling!
From:
Andy Marshall
20 May 2023 14:34 PM
Well done you, I have given a choice to my good tenants and they have both opted to pay more rent, having one last one to ask and the others I will sell when the market is better for sellers
From:
Andy Marshall
20 May 2023 14:28 PM
Completely agree with Jim, I have insulated and replaced boilers that i'm told at best are 60% efficient and replace with so called 98% efficiency, double glazed etc replacing the single glazed plastic units and guess what, negligible difference in bills. The way to save money is be less wasteful and turn stuff off if not needed. This is just a money spinner for people in this industry, like Martin Gibbons (I assume) and shareholders of these companies, possibly Government ministers, I wish I was joking!
From:
Andy Marshall
17 May 2023 09:51 AM
It's only going to get worse, let the social Landlord's soak it up we hear time and time again how they manage their properties. Sorry that should be mis-manage! The policy of levelling up needs to be changed to levelled!
From:
Andy Marshall
16 May 2023 07:10 AM
Where are the Landlord Associations on this. Not that I would like to use this poor soul, but it should high light the difference between big business and a local Landlord. A Landlord whom is invested in his property by association is invested in their tenant. Big business only see the money. Our Government need to reflect on this and take a long hard look at the agenda they are pushing!
From:
Andy Marshall
15 May 2023 15:39 PM
Great observation. When will these Politicians learn that rewarding and incentivising Landlords a lot of the housing issues would disappear. More rentals mean competition and therefore rents falling. Abolish Section 24 to ease pressure off mortgaged Landlord's, I for one would then not have to hike my rents up so much. Give Landlord's confidence with new legislation. Before getting rid of S21 trial new legislation in allowing Landlord's to demonstrate when they need to evict tenants. My belief then would be that S21's would hardly be used. Rogue Landlord's need to be dealt with quickly and appropriately. Lastly, work with Landlord's to insulate their properties. Low interest loans from the Government or tax incentives could be a start. It would then be a win win for all. Policies that clearly are based on envy plus going to war with Landlord's is not helping anyone!
From:
Andy Marshall
15 May 2023 14:16 PM
And it's even worse for tenants and the younger generation whom wish to purchase a property. UK PLC is in a pickle and envious eyes pointing in the direction of Landlord's is pointless. It would be like blaming McDonald's for making profit from selling food.
From:
Andy Marshall
15 May 2023 06:36 AM
Bang on the money Michael, BTL in the early days with a minimum of 15% deposit was a good working model, however self certification and 100% lending just was a bad bad idea. In fact for a period you could get a mortgage for 125% of your property. Crazy!
From:
Andy Marshall
12 May 2023 15:02 PM
I'm not sure on this, I thought Labour would have done a lot better in the recent elections. The problem is Labour are just not good enough, I say this as having voted for Labour in the past. At best Labour will get a hung Parliament. We're all doomed with these muppets running the show and all we have is other muppets waiting to take over!
From:
Andy Marshall
12 May 2023 14:59 PM
Well said Terry and I had hoped that the Government would come to their senses, but now i'm leaning towards Gromit's view. The Government appear to have an agenda to win votes no matter the cost to Landlord's and tenants. We are too easy and able to be a target. A Dr Peter Marshall wrote a very interesting article which Landlord Today published. I think he sums up the situation perfectly, therefore I see no U-turns in this arena.
From:
Andy Marshall
12 May 2023 14:54 PM
Martin, thanks for your thoughts. The point you are missing is that a lot of us whom started in this endeavour are sole traders. I'm guessing that you are a Limited Company and probably a good few years younger than me. If the Government were to introduce Section 24 on your properties I believe you'd have a different View point. The goal posts have well and truly shifted and wait until you get a few tenants whom don't pay their rent and hide behind the law before you are able to get them out of your property. Just thought i'd add some balance to your thoughts.
From:
Andy Marshall
12 May 2023 14:49 PM
Well said both of you, the issue for me is Sections 24 and 21. Mortgage rates are still quite reasonable, but add section 24 to this and it fails as a business if you are mortgaged. On top of this no business can afford to lose control to the customer, by removing Section 21 this is what is about to happen. I am selling, though will look after and remain in partnership with 3 very good tenants. When they go I will likely sell unless this Government or any future Government waje up!
From:
Andy Marshall
12 May 2023 11:44 AM
This is good news for you and yours, and i have no problem with this. Plus a position I hope to be in a few years, the article , i believe refers to the 3 million Landlords whom have mortgages, and i'm only better off as I've sold and will keep having to do. Mortgaged Landlords and tenants are certainly worse off.
From:
Andy Marshall
09 May 2023 20:47 PM
Why will they rise? Yes we may have one more rise but inflation is falling, slowly yes but still falling. Therefore rates can start to drop away slowly surely no?
From:
Andy Marshall
09 May 2023 20:43 PM
I agree with your sentiment but cannot believe back to 1%, more like 3%, but nobody knows for sure.
From:
Andy Marshall
09 May 2023 20:35 PM
Historically you are right, but we are in a new era now and i'd advise getting a tracker if this is available, or a fix deal for one year only. Just my opinion though!
From:
Andy Marshall
09 May 2023 20:33 PM
Very good comment , I applaud your insight.
From:
Andy Marshall
09 May 2023 20:30 PM
I would really like to sell my properties to tenants but this scheme will favour geographical areas and potentially raise prices there. The Government need to get their house in order and look at housing as a cross party level. In principal i applaud the Skipton, shame they can't offer better rates! Guess they want to make some money!!!
From:
Andy Marshall
09 May 2023 20:26 PM
I'm surprised by this report and take with a pinch of salt. However, like these 2 I am selling at least 2 further properties. I expect prices to stabilise, but to go up hmmm. I will still hold off to sell mine end of year beginning of 2024 though. I believe the Autumn budget will be bountiful, the tories will do everything they can to try and convince voters to vote them back in!!!!!! Just to add spoke with mortgage brokers and they told me hardly any new lending to private BTL Landlords, a few 1st time buyers and most are re-mortgages due to fixed rates coming to an end. I joked that they must be more like counsellors these days to which I was told a lot of people were in for a shock!
From:
Andy Marshall
04 May 2023 09:37 AM
Exactly that, this article is very manipulative in it's wording. I've been paying a mortgage for 34 years. I'll be very happy if I can pay it off in another 6 years!
From:
Andy Marshall
02 May 2023 12:07 PM
A pretty lame article. With B of E still looking at raising rates and inflation still in double figures whom will be buying. It will change, but not until the above is fixed!
From:
Andy Marshall
02 May 2023 12:03 PM
But equally dread the tories staying in power too. We are between a rock and a hard place.
From:
Andy Marshall
02 May 2023 11:50 AM
I'm with you on this one Chris. Inflation though is slow to come down, but down it will go. That said, I do not see interest rates falling that quickly. The useless B of E will hold rates until they see a better situation ahead. Of course this will be the wrong move and this country will again go into boom and bust. We need a new plan. In France you fix the interest rate for the life of your mortgage. Makes sense to me!
From:
Andy Marshall
01 May 2023 00:59 AM
I've got a meeting this weekend with 2 great long standing tenants. I need to massively increase rents and if they can't afford it, then i will need to sell. I have some room to manoeuvre as selling others which means I can reduce the mortgages, but i'm not sure which way this will go. So much for levelling up!
From:
Andy Marshall
26 April 2023 13:55 PM
What nonsense. Policies for this would be madness and leave a Landlord open to litigation. If a new lock or similar is required it would need a court order as any tenant living in the house and on the tenancy has a right to a key! You don't need policies for this, get a Court order and I am sure that most Landlords would then oblige in these circumstances. But clearly we are not the Court or the Police!
From:
Andy Marshall
26 April 2023 10:34 AM
10/10 for use of the word gormless, haven't heard that word in years!
From:
Andy Marshall
26 April 2023 10:26 AM
Make the most of it, as when all the properties are sold by Landlord's whom have had enough then tax revenue will fall off the edge of the cliff. Both income and CGT. Reversing decisions will come too late and they will have to think of another tax scam to replace this golden goose!
From:
Andy Marshall
26 April 2023 08:45 AM
No thanks
From:
Andy Marshall
24 April 2023 08:57 AM
Perfect example of how figures can be manipulated. Since when has inflation got anything to do with house prices except bringing them down. We're in a dip currently, though I believe will be short lived, but then a period of stagnation until we get used to the new norm of the interest rate now with us. There is still a shortage of houses which will take years to address. Until this changes it is highly unlikely that we will have a crash, so for those hopefuls i'm afraid it won't happen, but there are some bargains to be had now if you have the wallet for it!
From:
Andy Marshall
24 April 2023 08:56 AM
This article is now winding me up. Put the focus on needing more Police, more social workers to look after the vulnerable and more prisons and longer sentences. This is just a smoke screen, don't be fooled by it! Laws are already in place and if you're going to ignore them you'll ignore any new ones!!
From:
Andy Marshall
24 April 2023 08:50 AM
Do we really need another law to tackle this problem. I'm sure it goes on but to a very small degree. The Police have the powers to deal with this now. It's just another pathetic way that this current Government is trying to show that it is doing a good job! Likewise i've never had anybody proposition me to have sex instead of paying the rent and like others here I would not make myself a hostage to a situation like that. Whilst we have too few prisons no matter what laws are passed it won't change nothing, bit like the housing mess to be honest!
From:
Andy Marshall
24 April 2023 08:44 AM
If the rent reflected the state of the property and the tenant was happy to live there, what is the problem. Owner occupiers often live in sub standard houses as they re-furb them, this can often takes years. Nanny state! We are desperate for housing currently and the Councils actively make houses empty. I bought a run down house in the past, I had 2 tenants that helped me re-furb the house, I had their labour for free and they lived in the house free of rent for a year. The re-furb took about 7 months and it was let as a HMO, so whilst these individuals had the discount for their rooms, the other housemates covered my cost. Guess if I did this now i'd be against a wall and shot!!
From:
Andy Marshall
21 April 2023 11:13 AM
Why is this site being used to advertise!
From:
Andy Marshall
19 April 2023 08:28 AM
John Hughes completely agree. Will be voting Reform in the local elections and I hope that both Labour and the Tories take a right beating.
From:
Andy Marshall
17 April 2023 12:09 PM
Hi Martin, I assume that you are in this market place of property solutions. Retro- grading insulation is a con. Yes, some of it works but it is a rip off to get it done! But I guess this is why you are promoting it here.
From:
Andy Marshall
17 April 2023 12:07 PM
Along with Osbourne's section 24.
From:
Andy Marshall
17 April 2023 11:53 AM
Well put Shane, I'm leaving this market also, with the exception of 3 tenants that I have been in partnership for many years and I do not foresee them giving me any issues in the future. I've sold 2, that leaves 4 to go. Hope to start selling these towards the end of this year, the CGT allowance is now no longer a consideration so I will move as fast as I can, currently re-furbing one now and once I've got the non payer out f the Norwich house will focus on that one. No point me getting bitter and twisted over this and the nexts's government fiasco. I'm happy with my decision and will have good equity from selling despite the 28% CGT. I do believe if Labour get in it will be 40% CGT and I just hope that the Tories don't decide to do this in one of their next budgets. I will pay down the three houses I'm keeping and then hopefully give up my day job, not the future I had planned all those years ago and I had hoped to be able to give my kids a better foot up in life. It's unfair and it is wrong, the article by Dr Peter Marshall was excellent, but the simple fact is nothing is going to change.
From:
Andy Marshall
15 April 2023 20:53 PM
Shane I'm doing exactly the same, though going slowly as I hope property prices will pick up later in the year. Currently you will have to drop your value in order to secure a sale.
From:
Andy Marshall
14 April 2023 18:46 PM
Hi Martin thanks for your input. I have replaced countless boilers and have spoken with tenants afterwards and to my disappointment have been told that their bills ahve hardly fallen. This was before the hike in energy prices. I have had a similar experience in my own home. I admire your confidence in these reports but to be honest you should not allow yourself to be so easily led. With regard to insulation, you need to ensure that it is the right insulation for your house and that you are not causing issues for the future. One example is foam insulation in the roof. A lot of lenders will not lend if the surveyor cannot see the state of the timbers. On top of this a lot of older houses need to breathe. If they have lime render or cement then this is even more important. Modern house building and insulation does not always work with older buildings. Another lesson from builders is when they thought it was a good idea to reduce the angle on a pitched roof. All approved by qualified architects. The poor home owners whom have these properties have far more maintenance issues than conventional pitched roof's though modern materials have been of benefit in this area. Therefore oh wise one I recommend that you wise up and not follow blindly to these recommendations.
From:
Andy Marshall
14 April 2023 18:44 PM
Jo I love you're ideas and in a perfect world they would readily work. Our society in many places is broken and our Government just sticks it's head in the sand. Look how poorly they have managed housing. It wish I could say that they had only been ineffective, but in reality they have been detrimental and shame on them for this. I do believe a commune as you propose could work, however this would need words such as earn a place and be responsible once there. It would need several wardens to guide and lightly enforce when required. I would also say that it could be paid for by these young people doing voluntary work such as litter clearing, removal of grafitti and gardening for the aged...the list goes on. We have to get away from giving away stuff to people and encourage consequences, responsibilities and be responsible for your own actions. Yes some people have a bad start in life but thy still know right from wrong. Supervision will be vital also, group mentality that turns negative is very dangerous.
From:
Andy Marshall
04 April 2023 15:48 PM
Yes house prices are definitely coming down, no question about this.
From:
Andy Marshall
04 April 2023 03:19 AM
I agree with Mr Spencer's analysis on the cause of the issue. Not convinced of his argument for new investors. Good that he has hit the nail on the head, shame he did not mention that around 80% of tenants get on with their Landlord. Any positive news is good, where are Landlord groups pushing this news story and flapping it about at the Government and other media outlets. Housing is a real problem now and is going to get worse very quickly as fixed rates come to an end and a lot of Landlords will have no choice but to sell.
From:
Andy Marshall
28 March 2023 09:47 AM
Don't blame Landlords, the blame firmly rests with the Government. They are the ones whom need to do a re-think. As Landlords leave then the issue will just get worse.
From:
Andy Marshall
28 March 2023 09:37 AM
Fine not high enough.
From:
Andy Marshall
28 March 2023 09:34 AM
I'm sure we can guess her reply.....
From:
Andy Marshall
24 March 2023 14:16 PM
I agree with Jo that Government interference does impact house pricing to some extent. Back in the late 80's it was the economic situation which caused the crash and the inevitable rise in rates, they make 4.25% look like a bargain, which it is to be honest. Section 24 is the problem here. Again economic situation is causing the dip in house prices, but i do believe it will be short lived, unless something fresh comes along, which is possibility. If you need to sell now then you will take a hit compared to the last 2 years. I'm not buying and if i was i would be offering at least 25% below the asking price! Just look at the auctions. The exception will be a few properties that are in highly desirable locations.....as always. I think this dip will be temporary, but only my opinion. Once the B of E stop putting rates up the market will be stronger, i don't mean a surge in prices but as an example a house in Bedford that i was going to sell were selling at £320-£330,000, if i needed to sell now it would be £270-£280,000. I plan to sell end of this year or early next for £300-£315,000. Currently letting as rooms to offset mortgage costs and have been completely transparent with my new tenants. I know this is a gamble but this is my current strategy. I do have time on my side at a youthful 57, I believe i'm right in saying that men don't mature until they're 70.....or should I not have put a number!! :)
From:
Andy Marshall
24 March 2023 11:33 AM
Unfortunately never, Labour will get in and it will be even worse!
From:
Andy Marshall
24 March 2023 09:06 AM
Hi Andrew, i remember that you wrote this before, nevertheless I pushed on wrote to my MP and encouraged others to do the same. However, you were right. Lesson learnt. MP's are good at individual problems and I have been supported very well in the past. Go against a party line and you're just wasting your time!
From:
Andy Marshall
24 March 2023 09:05 AM
It's very hard to predict the general housing situation. As private Landlord's leave some slack will be taken up, it would seem, by the corporate world, pension funds, Lloyds and now possibly John Lewis and Tesco! Most of what is happening currently affects Landlords with mortgages! Renters will probably want these new cheap to run square boxes which will be built to a cost. First time and second time buyers will want a nice looking property in a good location with character, in the main. It is the current Landlord's whom invested for the long term, whom are mortgaged, that will feel some pain as they adapt to these new circumstances and the same for home owners when their fixed deals end. So far I have been able to sell when my properties have become empty, i doubt that will continue as I feel the pinch and become dis-incentivised to remain a Landlord. Therefore, there is potential for things to get worse but this is such a huge market that as always there will be some winners and losers.
From:
Andy Marshall
24 March 2023 09:01 AM
I'm assuming that this is just referring to the budget, i agree with your analysis. I've delayed selling currently as to sell right now you'd have to take a hit. I'm hoping next year it will stabilise if the inflation drops away and there is confidence in buying. Hindsight is always the best view and I wish that I had sold more over last 18 months, just so glad that I did sell 2 for good price.
From:
Andy Marshall
24 March 2023 08:49 AM
Pre-tender Market Engagement- What a joke. This will be a group of people whom will self appoint themselves to a new industry of sorting out the so called rental crisis. Of course the joke being that a lot of these issues have been created by this Government and previous Governments for not investing in social housing. The title is correct when read properly 'pretender' to do something! It will just be another sound bite for a Politician to claim that they are resolving the housing issue and are setting up this vital ombudsman scheme, funded no doubt by us!
From:
Andy Marshall
24 March 2023 08:44 AM
It's possible that house prices would steady and even go up slightly. However, rents would come down with competition and tenants would have less stress and somewhere to live. Section 24 has created imbalance.
From:
Andy Marshall
23 March 2023 23:10 PM
Very good point Michael and I whole heartedly agree. But unlike you I do bash them and after a representative of NRLA was speaking out on our behalf on national TV I was so dismayed with his lack lustre and feeble attempt to explain a Landlord's predicament, that I decided not to re-new my membership. If they grew a backbone then I would re-join in a heart beat.
From:
Andy Marshall
23 March 2023 23:06 PM
Absolutely right. There is nobody properly representing us. Leaving this market is the only option, and who really loses out....tenants!
From:
Andy Marshall
23 March 2023 22:57 PM
Hi John, I have been communicating to my own MP for a long period of time, similar if not before your dated letter. Initially she passed on my letters to the relevant areas. However, they fall on deaf ears and now my own MP fails to reply to me. Like your letter, I worded my observations carefully and clearly. I have now come to the conclusion that nothing will change these individuals minds and they are set upon making these changes. Therefore I will make my own plans accordingly to protect my interests. It has been a very disappointing journey!
From:
Andy Marshall
23 March 2023 22:51 PM
Agree with all that you have said, yes they like to blame Brexit, Ukraine War (energy prices) and of course Covid and that there is some truth in this. However it is incompetence by central bankers and Government that are too self interested in their own parties rather than the interest of the country that have allowed this situation to exist. This is an incredibly resilient country and I do not think the outlook is as bad as I had first thought, we will see. But we have been badly let down!
From:
Andy Marshall
21 March 2023 11:44 AM
Hi Christine, viewing through hindsight is a luxury. We needed to act and i'm so glad we did with weapons and any help we could. Unfortunately, too much thinking is going on now. Pandering to this and that. I agree with you that more help should be forthcoming NOW but the Government is incapable of making decisions as they are too scared how they will be perceived. I would be happy to house some Ukrainians in my own property and i informed my tenants that I would assist them if they wanted to do this in their houses. Too much red tape caused too many problems so nothing happened. Even advice from the Council's was mixed. A Landlord on this site stated that he ignore's all the rules apart from gas safe, well good on him. He really has made a good point in my view.
From:
Andy Marshall
19 March 2023 11:29 AM
Hi Tricia, good on you for getting involved. I'm sorry though but we don't need a Minister for this. We do need some joined up thinking. This is a very advanced organised country, trust me I've lived in countries that are not. However, over the last few years we have been run by idiots whom take far too much notice of the press and minorities. The opposition would be the same. I would ad that this is not really a forum for this, private Landlords are not in a position to help in this situation on a massive scale.
From:
Andy Marshall
18 March 2023 13:07 PM
This article should also tackle the reason for rent rises. So many think it is Landlord's because they can. The truth is so much more, lack of competition between Landlord's as Landlord's are being driven from the market. Unable to turn a reasonable profit due to Section 24. A mass of unfair legislation from Landlord's perspective that just adds to the burden.
From:
Andy Marshall
16 March 2023 10:49 AM
Surely this will be the corporate Landlord's piling in, plus where Landlord's are haemorrhaging money the companies will be piling in that offer quick, no complicated take your property no matter the condition with or without tenancies and of course problem tenants. But hang on they only give you 70% of what the house is worth. Government levelling up no doubt.
From:
Andy Marshall
16 March 2023 09:44 AM
Good point, but clearly with less properties.
From:
Andy Marshall
16 March 2023 09:42 AM
Absolutely right SL. The Government also have to wake up to the fact that though this is a partnership between the Landlord and tenant the Landlord is the heavily invested partner and needs to have the final say. Remove this and you'll remove Landlord's from the market.
From:
Andy Marshall
16 March 2023 09:40 AM
Just read about him Andreea. I would say that he has to sell as he has massively over leveraged himself and now rates have gone up he will go bust. I hope that he has been successful in other areas or there will be only one direction of travel for him!
From:
Andy Marshall
14 March 2023 17:13 PM
Buyers should make the most of this, once the B of E realise that they do not have to put up rates anymore, shouldn't have done it last time IMO, then house prices will stabilise. Next year or the year after might be better to buy if you're after a bigger property when peoples fixed rates end and they find that their mortgage has doubled or trebled in price, the only option being to down size!
From:
Andy Marshall
14 March 2023 12:52 PM
When I need to increase the rent I go and meet the tenants and explain the need for a rise. In this way we mutually agree an amount. I then put this in writing which all parties agree. In this instance a Section 13 is not required. Once you are at loggerheads with a tenant and the partnership is over that is when problems arise in my experience. Coincidentally both instances I have had were from agencies whom had chosen the tenants. I would add that i have also had good tenants through agencies also. Section 21 is an extremely useful tool to reclaim possession. If only the Government would work with us, but back to the real world!!
From:
Andy Marshall
13 March 2023 18:00 PM
Hi Michael agree with most of what you have said. I saw no problem with the initial venture into BTL. It was sensibly brought to the market with competitive rates and you needed at least 15% deposit. Having let my first house in 1992 having lived in it for 4 years is how I got into this market. Banks got greedy and made it too easy to borrow money. Buyers could get a mortgage for 125% of the house value. Once this was happening the BTL market tried to match these deals and we were heading for trouble. Obviously this all came home to roost in 2008 with the financial crisis. Lack of rules on BTL investments were another cause and self certifying mortgages was insane. I kept to my model and always had a deposit of 15%. I did re-mortgage when I could to buy further properties but always could balance the books on a stress test of mortgage rates being at 8%. Having bought my first property when rates were 14.7% and then went up to 15.9%, if i remember correctly, certainly kept me grounded. The issue for me now is Section 24, which again for me is head and shoulders above all other issues. That's not to say that the Rent Reform bill, EPC legislation and of course the removal of Section 21 is not a concern, but for me it is another reason to sell the majority of my houses and see which ones I can keep to be mortgage free. As I have said in previous posts I will look to another venture, that will give me some pleasure hopefully, whilst i'm still young. I am highly miffed by this Government for forcing me to do this and will impact on me being able to help my 4 children as they venture into the world. The ratio house prices to earnings are not what they were which is going to cause challenges in the next couple of years, IMO, and we are just seeing the very start of it now!
From:
Andy Marshall
13 March 2023 14:25 PM
Pointless, remove section 24 and you might get my attention!
From:
Andy Marshall
13 March 2023 06:45 AM
It's all about your own experience. Back in the day i used agents. They were very poor indeed. I understand the industry became much more professional, brought about by the property collapse in 2007/8. I did use an agent back around 3 years ago, I'm now getting these tenants evicted! Says it all for me. I have no doubt that there are good agents out there as has been reflected on this site.
From:
Andy Marshall
11 March 2023 14:39 PM
Agree BL. Whilst this industry is being targeted and making it very hard to turn a reasonable profit, then Landlords will look elsewhere to invest their money. This will be bad for tenants and the housing market in general. In my opinion house prices are going to stagnate for a very long time. Hence I am leaning towards leaving this market. Why would I remain. I would add to this that I have 3 long term tenants whom I will remain in partnership with currently.
From:
Andy Marshall
11 March 2023 14:14 PM
Agree, firstly you would need to teach the teachers.
From:
Andy Marshall
11 March 2023 12:35 PM
I agree, it is all about expectations, and it has gone too far. Schools need to educate about real life as well as academia. For many to get on you need to put some serious graft in, and yes if you want to succeed it may well mean that you need to have 2 or 3 jobs for a period of time. I did, on my time off in the military I worked various jobs for agencies as well as bar work in the evening. By all means have expectations but you need to work damn hard. And while there at it teaching them this they should add responsibility and consequences. Far to often people make decisions that they then walk away from, unscathed.
From:
Andy Marshall
10 March 2023 01:11 AM
Charities are a boom industry. I completely agree with your point but would expand to other charities also.
From:
Andy Marshall
09 March 2023 09:59 AM
I take a different viewpoint on this. I have no issue with big companies aligning themselves with Shelter. The issue as I see it is not PRS Landlords but government policies and Bank of England blinkered thinking. Quite simply there is a problem with homelessness but has very little to do with the PRS, it is a separate entity. That said Shelter need to better understand the rental market and why rental prices are increasing. Once this message gets through to them maybe they could do some positive moves in alignment with Landlords instead of alienating them. The B of E are living in fantasy land currently. In the UK housing market 24.2 million homes have mortgages on them. Of this figure 2.4 million have variable rates. Therefore these base rate rises are affecting a small amount of mortgagees, and by the time it affects the rest inflation will be much lower. I guess they will start to lower rates then. However, the damage will be done to so many smaller businesses whom loans will have increased in real time along with all their other costs. Finally with the massive spike in fuel and energy prices, it has not been mentioned that the Government will have had a massive spike in profits due to the extra money they would have brought in through taxes on these costs. In simple terms they have the money to do more for housing people. Try building some hostels and homes for people. Gordon Brown could not have been more wrong when he said an end to boom and bust. Politicians and the numpties in the Bank of England seem to have no idea of the real world.
From:
Andy Marshall
09 March 2023 07:53 AM
I'd like to have one of the cologne Capri's now, i'd guess easily 30k plus. I had 2 Capri's in my past, a 1.6 Laser and a 2.0GL. Liked both, but parking with that bonnet took some practise!
From:
Andy Marshall
07 March 2023 22:01 PM
Those V6 Essex engined Capri's handled like a shuttle ---- Not allowed to use the word for a male Hen on this site. Wow! The 2.8's were better. But Andrew is quite right, drive to the car's ability!
From:
Andy Marshall
07 March 2023 17:57 PM
Hi Andrew, i'd love to have either of those cars. I'm now into more modest cars. Dolomite Sprint, 80's Audi Coupe GT, Jensen Healey, Renault 16, Mazda 323 x2 MGB GT x2 FE Victor, Figaro, Golf, Saab 900, early Audi A4 and a 1969 Jaguar XJ6. All quite modest and i love working on them or driving them. Reluctantly sold my Jensen Interceptor Mk2 last year and just sold a very good Montego Mayfair. Nostalgia is a powerful emotion for some :)
From:
Andy Marshall
07 March 2023 17:52 PM
Hi Robert, I completely agree with your strategy and was doing similar. In an earlier post on a different topic I stated that when you started in this business makes a difference. Though a Landlord for similar time frame I did not really get going until 2003. All was going well until section 24 put a big hole in my profit. Now, even though I based my plan on 8% mortgage rate my profit on the houses is negligible. Your strategy would not have worked under section 24 as you would pay 40% tax on rent income minus costs and 20% reduction on said tax. Therefore bad debt and good debt does not exist in the same way. For Landlord's whom ventured into this business after 2008 whom are mortgaged must be staring into the abyss currently! I take note of your points with rent and I can say lesson learned. For me, I can sell most of my houses and will combine my passion for classic cars, I have 14 of them, into a hire business and hope to do this transition just prior to next year's election. I have never been work shy, but for me I need to enjoy what I do!
From:
Andy Marshall
07 March 2023 15:58 PM
Completely agree Andrew.
From:
Andy Marshall
07 March 2023 15:42 PM
Trust funds will get around some of these issues Michael. I thought the so called tories pledge was to make tax simple. They have seriously let us down on this also.
From:
Andy Marshall
07 March 2023 14:29 PM
Spot on Tricia, though Section 24 really impacted me on reducing my mortgages. I had hoped to pass on a lot more to my children than I will now be able to do.
From:
Andy Marshall
07 March 2023 10:50 AM
I think the problem for some Landlords are that they have borrowed money to buy other properties and therefore from their purchase price to their CGT obligations, once mortgage re-payment is paid then there is no money left or you need to find some to pay the CGT. I would add I am not in this situation and will be keen to sell. Anticipating a CGT bill of under £20,000 for a gross profit of £101,000. Any profit will be invested and paying down mortgage debt. I am worried that when labour get in they will increase CGT to match income tax. Therefore CGT would be at 40%. Hence I am re-thinking what and when I sell!
From:
Andy Marshall
07 March 2023 10:47 AM
Hi Jo, I hope that your endeavours to get a mortgage are more forthcoming than mine. I will be 58 this year, work part time and have a service pension. Combined it is a good income. My portfolio is around 49% loan to value and I could not get a mortgage as my rents were too low. My rents are higher now but the mortgage rates are much higher. I'm not going to waste my time trying to get a better deal currently as I believe I will still not meet their criteria. I will sell further property in order to pay down the mortgages on the properties that I wish to keep. What caused me issues is that I had a portfolio of 10 houses, it is now 8. The lender stated that as I had so many properties it went against me! Since then, the Government have removed one of the stress tests, so it is possible that I could get a better deal. That said I need to let my tenants know that I will be increasing my rents substantially. Like others on this site I let well below market prices as you want to keep good tenants. I had not realised how much rents have increased, even though I have been putting up my rents most years. As an example a house in Wiltshire I let for £725, when I had an estate agent round to value they informed me current rent for this property would be £1050-£1100 and that was 9 months ago! I fear for my tenants, as it maybe that none of them can afford the rent I will be proposing in which case I will be selling a lot of properties. I have now gone beyond anger towards this government and my realist head has now taken over for me to re-structure. I had been optimistic that this challenging period would be short lived, I now concede that I was wrong in this assumption. I don't think it will be catastrophic but the years have passed and I need to get myself in a more robust situation. Lastly, like others I was told not to go Limited. It was the wrong advice, but too late to change now!
From:
Andy Marshall
07 March 2023 10:41 AM
I also cannot see me buying a property to then let it out. That said I will remain a Landlord for the foreseeable future but with a reduced portfolio. This dip in house prices is a concern, so a planning strategy is essential. Currently refurbing one property and waiting to evict one non paying and problematic tenant. There has been a levelling down by this Government for the lettings market, unless you are fortunate to have enough capital to virtually buy outright. With higher land prices and therefore property prices this is almost impossible for the vast majority of working folk whom are trying to improve their financial future with property. Makes far more sense to use ISA's and high interest accounts at the moment and less hassle!
From:
Andy Marshall
07 March 2023 08:00 AM
It is up to us risk owners (Landlords) to understand what we get into. I have always based my portfolio on a 6% base rate, meaning around 8% mortgage rate. I would never have taken on a loan where the SVR is 4% above base rate at the end of the term. I warned any new Landlord I encountered the dangers of this. Plus I accept this as my risk. However, Section 24 has not been allowed for and is causing me issues as well in the very near term my tenants. When you take out a 25 year loan to have some idiot bring in a scheme, not clearly explained at the beginning over a 4 year period is less than ideal. That said having now sold 2 properties I have sufficient fund to work round this situation but it does significantly affect my wealth. I would add, if I was 10 years older I would have found myself in a much better situation as I would have had the time to pay off my loans as I have been doing all these years. Equally though if I had been 10 years younger I would be in a vulnerable state due to Section 24. The next decision for me is whether to re-let properties I had intended to sell as the market has dipped more than I had expected. Recovery may have to wait until next year. Next few months should determine this issue and of course what this Chancellor does in the budget. Added to this conundrum is can my tenants afford the massive hikes in rent that I will need to apply. Good luck to all.
From:
Andy Marshall
06 March 2023 10:01 AM
Thanks Nick that is good to know, unfortunately I have found that the Norwich Courts have been very busy and therefore a slow process, we shall see. Hi Andrew, thanks for the tip, I will consider, however as house is mortgaged it is likely I will cut and run, though do have good equity in said property. Hi Rebecca, sold a property in Aspley Nottingham which completed 31st Jan, got a very good price. Nottingham seems to be a prosperous place for selling property!
From:
Andy Marshall
04 March 2023 00:00 AM
I would go further sad Landlord. The so called amateur Landlord has his pension with this house so in most cases will protect his investment and therefore the tenant will have a lovely home to live in. Our Government appear to be clueless in this arena.
From:
Andy Marshall
03 March 2023 10:27 AM
Ys, I am now leaning to selling more properties, as you say with the CGT being reduced why wait. That said the market has dipped, so apart from my Norwich property that is too far for me to manage effectively, I will probably stay renting some others until the house market gets stronger. I don't think I will have long to wait! I am currently using section 21 on this Norwich house so have to be patient with this utterly useless court system.
From:
Andy Marshall
03 March 2023 10:25 AM
Don't worry this Government or the next will sort this issue out, they have a proven track record and we have seen how expertly they have sorted Brexit and dealt with the Covid crisis. I think most of you need to show some faith! Back to the real world, my options are becoming limited and I think that in essence I need to crack on with selling some more properties. I was defo selling 2, on top of the one i've just sold. Now I'm looking at selling 4 in order to balance the books. For those whom fixed deals are ending, I wouldn't worry about doing the math first I'd go see a broker and see whom is willing to re-mortgage a portfolio Landlord as there aren't many out there that will do it.
From:
Andy Marshall
27 February 2023 10:45 AM
Just ignore it. I'm sick of reading these stupid stories. Rowntree group, who are they. Stick to making sweets you numpty's. When and if it happens ! Until then be British and keep calm.
From:
Andy Marshall
24 February 2023 12:02 PM
We can agree with each other without having to vote the same way. For me Reform party seems the best choice for me and my views and to be honest I'm not sure of their policies towards Landlords. I don't care, I voted Brexit but still have a house in France. Both can work!
From:
Andy Marshall
16 February 2023 14:16 PM
Nonsense article. Saying something and doing something is very different.
From:
Andy Marshall
16 February 2023 14:07 PM
It's simple if you really need to sell then you will need to drop your price, significantly. However, if you can wait then once inflation has halved and better deals comes to the mortgage arena prices will then be stronger. We are not going to see a surge in house prices but they could return to Autumn 21 prices, IMHO. Personally I won't be putting anything up for sale until the Autumn, but completely understand if you don't have time to wait or have no intention of gambling on the wait!
From:
Andy Marshall
16 February 2023 14:03 PM
Emily, I am doing exactly the same, though have logically gone for a tenant whom is not paying. Waiting to do next stage if not out first week in March. We are not doing it as such, in other words it is not a choice. Poor decisions by UK Government have forced us into a corner. Like many here I have enjoyed being a Landlord, but I am slowly selling off and will make a final decision once I have balanced my books. Andrew is completely correct we are not a charity, but it is hard to know that you will complicate someone else's life. I have to put out letters massively increasing my rents. I will ensure that I give a full and frank explanation. I will then deal with the consequences. All the best.
From:
Andy Marshall
16 February 2023 12:58 PM
Very well put Michael but just to keep it balanced I'll add forever man also. Though i'm not convinced you'd agree! In either case this gave me a good chuckle.
From:
Andy Marshall
12 February 2023 14:45 PM
33 years a Landlord and 3 evictions in that time with one of those going through now. Therefore I'm in the same bracket of 1 eviction every 11 years. This government and the one in waiting really need to re-think this strategy, but of course they won't we are way to good a target.
From:
Andy Marshall
12 February 2023 10:41 AM
It's all a matter for the individual Landlord. I'm just over a decade younger than you Andrew and I could see myself continue to be a Landlord on up to 3 properties. Like you I like to have constructive things to do. I just hope that it will be a viable option for me in the future. I won't be able to put up with demanding tenants threatening me with their so called rights!
From:
Andy Marshall
12 February 2023 10:33 AM
Hi Robert, my point is that this points towards Landlords wanting their properties back and likely selling. This is what needs to be found out and which hopefully give the politicians something to think about. This is where we need the NRLA to chase the reason, otherwise we will be subject to poor speculation. And yes I do agree to your point raised.
From:
Andy Marshall
10 February 2023 17:03 PM
I'm with you Andrew, I can't see interest rates coming down either. 4% is still a low rate. I'm sure the clowns in B of E will want to put rates up at least another 0.5%, just hope they leave it a few months before doing any more increases. Remember their duty is to get inflation down to 2%. The only likelihood is that lenders will offer better deals once confidence returns. At the end of the day a lender has to lend! I have 3 long term tenants that I will keep if they can afford my rent hikes. The rest I will likely sell due to this government and because I believe the next government wil be even worse.
From:
Andy Marshall
10 February 2023 09:20 AM
On the news this morning it stated that Courts are seeing unprecedented use of Section 21's by Landlords. Come on NRLA or other Landlord bodies, now is your time to shine!!
From:
Andy Marshall
09 February 2023 13:14 PM
I'm in the same position with the house I have at Catton, Norwich. Polish, Mum and son have not paid rent since September, they were already in arrears due to covid. During the covid period happy to support them but poor communication and now veiled threats from the son, (he's mid thirties) . Section 21 actioned and waiting until March before applying to evict. I understand that the Mum has already left but the son i'm sure will stay until the last possible moment. Worried about the state of the house, but whatever it is I'll put right and will then put up for sale. I do get grumpy about it as the law is not fit for purpose and hearing these Politicians talking utter nonsense is like a red rag to a bull. On a plus side property has plenty of equity as bought in 2005.
From:
Andy Marshall
09 February 2023 13:11 PM
Hi Jahan, I'm in the same position and with the change in rates I don't think I could re-mortgage unless I put down a sizeable sum. I've sold 2 properties, one in 2021 and the other recently. BTL is no longer profitable and way to much legislation. I've used all mine and my partner's ISA allowance, put as much as I can into a SIPP and will slowly step away from this market. The shame is that I have enjoyed being a Landlord, have got on really well with most of my tenants and enjoyed turning a run down property in a place that was not only fit to live in but to a high standard with quality fittings. But you can't fight the tide!
From:
Andy Marshall
09 February 2023 10:22 AM
In almost complete agreement with both of you. Short sighted and one sided views and interference from Government will cause and has caused major issues to both tenants and Landlord's. In trying to level up they are in fact levelling down, now where have I seen this before....education, health in fact anything these 2 major parties have tried to improve! I have just had a property come empty, but I will let 2 rooms in this property whilst I do a very light refurb, mainly to the outside. Property market is a buyers market currently and I will wait it out. Fortunately I have sufficient funds to carry my properties that are now not doing so well, in the Summer my poor tenants will see hikes in rent that may drive some of them out, I simply have no choice as to pay for Section 24 tax rents need to increase massively due to the new mortgage rates, and I have no chance of re-mortgaging and to be honest very little inclination to do so. Where is our voice and where are the Landlord representatives.........!
From:
Andy Marshall
09 February 2023 10:16 AM
We are simply not being represented in the right way by Landlord agencies. The view is that we are greedy self interested individuals and as such an easy target for the sheep in Parliament.
From:
Andy Marshall
09 February 2023 08:57 AM
Well said and I completely agree, our Politicians (most of them) are simply not fit for purpose. The UK is in decline from incompetence from this self interested, over confident, ignorant and ill-informed cretins. It's a one way swinging door for most Landlords now.
From:
Andy Marshall
09 February 2023 08:55 AM
It has to be the Landlord's choice. I have 2 tenants with dogs, both properties have large gardens and a secure fence. To the best of my knowledge the dogs have not caused any issues. Of course the risk goes up and as such, like others here, there is a small increase in rent to allow for this. But importantly, this is my choice and my risk to take. This will be just another reason why Landlord's will leave this sector.
From:
Andy Marshall
08 February 2023 09:25 AM
Looking on Allsop and Clive Emsom auction sites there are some surprisingly low property prices. This will only get worse for some where the latest 0.5% base rate increase will add more misery for some Landlords, myself included. Ironically rates are still low, but section 24 means that unless your around 50% loan to value you are going to be hurting, and if you are a mortgaged Landlord who's sole income is from your portfolio then selling is probably the only option and to sell quickly, hence the auction prices. I am not convinced we will have a price crash though as a whole. All depends on the B of E whom, if continue with these rate rises, can cause a crash as well as a depression to the UK economy. I am optimistic that come late Summer the economy will be much healthier and house prices will stabilise. And this will be despite of the government policies and the incompetence of the B of E.
From:
Andy Marshall
08 February 2023 09:11 AM
You're absolutely right Simon, it's been bad under the Tories, but it will be worse with Labour, in my view also.
From:
Andy Marshall
06 February 2023 17:13 PM
Good luck to those naive Landlords !
From:
Andy Marshall
06 February 2023 12:10 PM
Absolutely correct. My parents house I grew up in, no mould, I lived there for 4 years when I bought it off them, no mould. I let it to tenants, mould. House now sold. I'm slowly leaving this market until they give me an incentive to stay.
From:
Andy Marshall
06 February 2023 12:06 PM
Wow, the NRLA have woken up to the fact that they will soon have no members as there will be very few private Landlords left. And certainly nobody buying in the private sector to let houses. Talk about closing the door after the horse has bolted. Bank of England putting up interest rates 11 times in a row I guess has been a surprise. These idiots will be putting the UK into a depression if they continue like this. The only ray of light is that inflation should fall like a stone and it has very little to do with the muppets in the B of E. Government need to turn it's attention to small businesses urgently. So many will go under unless action is taken and it will take years for this country to recover. At the same time they need to have a close look at housing, as do Labour. I agree that as a business we should be looked at differently as to a home buyer. That said, we should not be unfairly taxed and we should not be demonised. Unfortunately I have so little faith in the 2 major parties that ONLY if I see meaningful urgent change will I change my mind to selling off my properties. The way they have completely messed up housing in this country can't help but make you think what they are doing in other areas. No wonder we have a boom and bust economy, despite Gordon Brown's promise all those years ago.
From:
Andy Marshall
06 February 2023 12:00 PM
Pointless article, plus a lot of Landlord's cannot shop around as the interest rate rise for some will mean that you do not meet the lending requirements to get a re-mortgage. I know some of mine will be effected like this even when I put up the rent. Section 24 needs to go.
From:
Andy Marshall
03 February 2023 08:40 AM
This rate rise was expected though in my opinion totally not required and just demonstrates how out of touch these bankers are in the real world. So many businesses this will be the final straw and put them under. Landlords on variable rates will put up rents or sell, maybe both! Inflation will fall regardless of these rates going up. All this will achieve is a faster fall but at a cost too high for far too many. So much for controlling boom and bust.
From:
Andy Marshall
02 February 2023 12:57 PM
Emily, agree with your analysis with the exception that I think when interest rates stabilise and inflation falls then buyers will return to the market. This will strengthen house prices, though not to have the madness of early last year until end of the Summer. Therefore, as I intend to sell I won't be bringing anything to the market now until September ish. I guess time will tell if my instincts are right!!
From:
Andy Marshall
02 February 2023 10:20 AM
You've done well, I wish I had sold more in last 18 months. Hindsight is always the best view.
From:
Andy Marshall
01 February 2023 12:14 PM
Jo, very well said, i'm completely in agreement. Let's hope that other MP's can understand exactly the points that this MP is making. Today I will be writing, again, to my MP to request that she supports this initiative.
From:
Andy Marshall
01 February 2023 12:10 PM
I'm in a similar situation, though as of yet have not evicted anyone whose not caused me a problem. This may change when I notify them of the rent increase, also with a explanation letter. I did ask one tenant if they wanted to buy the property, they said no as did not want the responsibility but then gave their notice. Very unexpected, another school day for me!
From:
Andy Marshall
31 January 2023 20:05 PM
Likewise Robert, bought my first house with rates of 14.1% and then the following year 15.7%. Painful memories. I let this house and moved into married quarters a few years later when I got married, this enabled me to grow a property portfolio. As I remember had to have a 15% deposit and rent to be 125% of the mortgage. Likewise this is how I grew my portfolio re-mortgaging every 3 years or so! It would not be possible now with Section 24. Never owned flats and mainly bought properties I could improve. I would imagine a few of us have managed our properties and growth in a similar fashion. Live frugally to expand for a better tomorrow or something akin to this. Not many of us saw the Government masking themselves up and robbing us of our hard work and rewards. In nearly all instances the risks were ours but the spoils have been raided. Shame on them. I wish I could get my hands on their fat pensions when they retire!
From:
Andy Marshall
31 January 2023 17:37 PM
You are absolutely right Robert, but we knew that the rates could not stay low forever, they shouldn't have been kept as low as they have been. Bank of England incompetence i'm afraid. Section 24 is the problem as at 4% rates are still low! And again you're right more misery for tenants, I for one will NEED to put up my rents higher than they have ever been put up in the past. Letters will out to my tenants fully explaining the situation next month. If they cannot afford it then they will go to the front of the queue to be sold. I will suggest they write to their MP and high light the cause.
From:
Andy Marshall
31 January 2023 13:31 PM
You've done well Jo, and though you are correct in what you are saying i've been on this roller coaster from the beginning and all 8 of my mortgages have nearly doubled in this time. Due to Section 24 it has blown my business plan out of the water, I have no idea how newish Landlord's will survive!
From:
Andy Marshall
31 January 2023 09:42 AM
I would broadly agree with this analysis, of course all subject to any unforeseen circumstances. Once rates have come down I will look at fixing mortgages on any properties for the longest term possible, if the rates are right, to offset a change of government next year! Though in past posts I have said that I am considering leaving the market, this will take time and I am not fully committed to this yet. Will complete on a house sale today, price kept at asking price and deal made in September last year. Just starting an 18 month refurb on a house in Bedford today, 2 rooms will still be let in this house. This will then be sold. Subject to strong house prices. I will have a refurb to do in Norwich, hopefully sometime in the Summer (3 month turnaround) when I get this house back from some.....let me say challenging tenants! Busy period, as I still work, though part time, but hopefully at the end of this period will be in a much stronger financial situation and I will not be so bothered by these moronic, ineffective Politicians, whether blue or red, too many of them are equally incompetent.
From:
Andy Marshall
31 January 2023 09:39 AM
I am sure that this report is reasonably correct, but it is too shallow. Why are some people struggling and why are others not. I have never had a high paid job, but I have worked more than one job at a time in order to fund my house purchases. In addition I have been sensible and a little frugal on my spending. This has then enabled me to become reasonably successful with my portfolio. We seem to be in a race to the bottom currently and Politicians demonising us is not helpful. In surveys most tenants get on with their Landlords, then use the law better to punish the Landlords whom don't follow the rules. The same should be applied to tenants. But now I just don't see any light at the end of the tunnel and currently my mind set is to do a calculated and measured withdrawal from this industry. What is the incentive for me to stay!
From:
Andy Marshall
30 January 2023 10:13 AM
I can understand buyers waiting until they see that the Bank of England loose their appetite for putting up rates. However, once this happens, lenders will give a better 5 year deal in order to get business. Then of course we will see a surge of buyers to get a property to get out of the cycle of higher and higher rents. Prices will of course then go up. I don't see a massive rise in prices but it will be better than you can get now. As way of an example a property i've got in Bedford, been told if I want to sell put it on at offers over £280,000. In Summer of last year they were selling for between £310,000-£325,000 depending on condition. I will do a short term let with 2 occupants to mitigate my costs as I do a light re-furb on this property and then wait for the head winds on selling to change. Any person wanting to buy should get some cheeky offers in now. Some are really struggling, whether a homeowner or Landlord and will be relieved to sell and not to the sharks out there offering low low prices for houses as a cash purchase in 30 days!!
From:
Andy Marshall
30 January 2023 09:57 AM
Hi Guys, completely agree. I was looking to clear some mortgages by selling half my portfolio, now comments like Ms Nandy are making me look at selling all my properties and investing elsewhere. When will these idiot politicians learn. We need new politicians and ones that live in the real world. To be a politician you need to be at least 40 and have a successful career in a proven field, business, finance, civil servant, farming or military (you get the picture). These politicians that study at University, get a job working for a charity and then get into politics have no concept of being successful or fully understanding hard work. Never happen I know!
From:
Andy Marshall
29 January 2023 16:17 PM
I understand your sentiments, I'm furious with the Tories and enough is enough. I will be voting Reform; if Labour gets in so be it. But, hopefully Reform will grow stronger!
From:
Andy Marshall
29 January 2023 12:23 PM
In reply to Robert's post, you are exactly right, money is given to the unemployed all the time to set up home. It is the working class that seem to make the sacrifices these days. Also a lot of offenders get accommodated and get grants left right and centre to get new furniture, we live in a crazy but unfair world!
From:
Andy Marshall
25 January 2023 09:50 AM
You only need one person to buy your house. If you have a good tenant, then it could be a plus. But your rent needs to be good value for the buyer. I broadly agree though it is better to sell the property empty as it increases whom will be interested. A lot of people will be put off that the tenant may not leave! I think the market will be stronger towards the end of this year, but no more big spikes in house prices for the foreseeable future.
From:
Andy Marshall
25 January 2023 09:41 AM
I agree Simon, currently prices are down from what they were from the Summer last year and beyond. I accepted a price for a property in September and now have a completion date of 31st January. I am probably one of the last few that just made the sale on the stronger values, though I did drop the price £5000 to a value one of the estate agents gave. If you want to buy, now is the time. I do believe house prices will go back to being in favour of the seller, but only when inflation is below 5% and still falling and the muppets at the BofE stop putting up rates and give the lenders some confidence in giving competitive rates. Consequently I am re-letting a property in Bedford and await getting a house back from non paying tenants in Norwich. Norwich still appears to be a strong market and would really like to sell that house later this year. Fingers crossed.
From:
Andy Marshall
25 January 2023 09:36 AM
It would be a much better cost effective exercise to educate on the use of energy. Though nowadays with the cost of energy a lot of people are getting a crash course in energy management. When I moved into my property in France we had to manage with a 9KW breaker switch. Now that was an education and food for thought!
From:
Andy Marshall
20 January 2023 10:38 AM
£2500 fine and no rent repayment, it's a joke. If it had been 3 tenants, possibly 4 you could show some leniency, but 7! We will keep being linked with these chancers so the law needs to be tougher to be a deterrent.
From:
Andy Marshall
20 January 2023 10:26 AM
Paul well done for an excellent explanation of the facts. In addition just cut and paste to my local MP, Helen Grant.
From:
Andy Marshall
19 January 2023 16:35 PM
Hi Paul, I totally agree with your comment. I had this exact same reply several months ago when I pushed my own MP whom forwarded it to the Levelling Up MP. It's not lies, but it is how they look at this situation. We need to demonstrate our point of view and the disastrous consequences of Section 24. None of the so called Landlord Group's have explained the situation as well as the comments on this page.
From:
Andy Marshall
19 January 2023 08:59 AM
Jo, very well put. Please everyone cut and paste this page and send to your MP. Yes it probably won't change their minds, but if this does go to a debate then hopefully they have a small view of where we are coming from.
From:
Andy Marshall
19 January 2023 08:56 AM
OK Mark, if we follow your logic then Restaurant's, pub's that serve food, supermarkets on their food and water etc should not be taxed the way they are as everyone should be able to eat and drink, it's their right. It's a fine line, but the Government have definitely crossed it. And it is even more mind boggling because if you are a Limited Company then you don't get taxed in this way. Again , if you're self employed and a window cleaner you still pay tax along the same lines as a company that is a window cleaner. Yes I know there are differences but any loans you have to set up your business is done and can be offset against your profits. Lastly most of us had a 25 year mortgage, a four year lead in time is nothing compared to 25 years. Therefore the correct way to introduce this would be on all new mortgages and re-mortgages in order that it could be better planned by the risk owner, namely the guy paying the bills. Yes I agree with you that when interest rates were low btl was a very good investment. Prior to that it was reasonable and now it is challenging due to the Government and B of E sh-t- show. We now have soaring rents, too few rentals and a Government quite simply so self interested all they can do is inspect their own butts. Apart from the above I agree with your clearly intelligent well thought out short statement!!
From:
Andy Marshall
19 January 2023 08:53 AM
Interesting point, never thought about this, but guess makes sense. I assume most owners would be older as well.
From:
Andy Marshall
18 January 2023 13:36 PM
I am doing the same, maybe some as much as £150. I will be writing to them in March giving several months notice for increases in the Summer. I am also going to split the amount by 3 months, my thinking being that if rates stabilise then I might not need to follow through with such a high increase, plus I am not currently in a position to know how much I can pay down the mortgages in this timeframe. To many variables. In addition I also explain the reason for the increase and I lay the blame firmly at this Government and also state that the Bank of England were complicit with quantitive easing and slow to put up interest rates to head off the current storm.
From:
Andy Marshall
18 January 2023 13:29 PM
I have similar sentiments though will probably exit more slowly. It appears that selling a house takes longer and longer. Accepted an offer in September and still waiting. Just had an update that the mortgage offer was incorrect. Therefore nothing happening this week. Therefore have 3 houses not paying me currently, one which i'm selling, one where tenants gave notice, now left and one where tenants not paying and waiting on Section 21 time line to finish. Currently re-furbing one of the houses but likely to re-let as will sell the property that I am evicting the tenants. This property is too far away from me and is a pain to manage myself. All these additional costs that as a Landlord we have to factor in. With the new legislation it clearly gives you the right to evict if you wish to sell. Hence I can stagger my sell off.
From:
Andy Marshall
18 January 2023 13:21 PM
I agree William, even a title like property owner sounds better than Landlord. In the current circumstances risk provider might be more apt!
From:
Andy Marshall
18 January 2023 13:12 PM
CGT is 28% and though too high, after costs the rest of the money is your's. Therefore selling it should see you in healthy profit. Unless of course you have mortgaged it to fund other buy to let properties or tied up elsewhere and I then understand your situation.
From:
Andy Marshall
18 January 2023 13:04 PM
That's the hook, that they will do all the work. In reality either the Council will be knocking on your door, or the tenant or if you're really unlucky neighbours or the Police. I get what you mean about bottom end houses, but think who will be going in them. If I know Council mentality you'll have ex-offenders in there. Don't forget 80% re-offending rate in this country for ex-offenders. A very sobering number!
From:
Andy Marshall
17 January 2023 10:53 AM
There maybe solicitors out there whom could dot the i's etc but getting it enforced would be a different story. Anyone whom would consider doing this would be extremely naive. In simple terms either the tenant or the Council will have all the control and the poor Landlord would end up with all the bills, missed payments, maintenance, Court costs and the list would go on. I can imagine the yearly meeting, sorry we can't put rents up as we just do not have the budget, however tenant has complained about mould can you spend a few thousand pounds as tenant can't manage to open a window occasionally. DON"T DO IT
From:
Andy Marshall
17 January 2023 10:49 AM
Speak to an estate agent and they will tell you it is quiet at the moment. People might be bored at home and look at Rightmove and tick boxes, but that does not mean a great deal. If asking prices are high, just means that you have time to sell your property. The only positive here, thus far, is that clearly there is no panic selling, though that said there are so many companies that will buy your property quickly, for the right price of course, and we will need to wait for the Land Registry figures to see if this is happening in large numbers. I'm still waiting for my Nottingham property to complete and I am re-furbing an empty property in Bedford currently. Will assess the market when I have finished the make over as to whether I sell (preferred option) or rent for a little while longer.
From:
Andy Marshall
16 January 2023 12:00 PM
I think the rates below 1% may never return but already there is talk that once inflation rates are under control they will drop rates. We need a new plan, not with quick fixes but stability. Unfortunately, the banks just want to make profits at low risk to them.
From:
Andy Marshall
13 January 2023 13:54 PM
Interest rates are still low. Not that I want them to increase, but historically it is still low. First time buyers need to plan for fluctuating interest rates, it has always been this way. Government need to stop interfering with the market. Their policies have affected the market in so many ways and some poor home owners are going to be feeling the effects soon enough. Market forces, if left alone will prevail.
From:
Andy Marshall
13 January 2023 12:22 PM
Nice to read a good news story here, well done
From:
Andy Marshall
13 January 2023 09:45 AM
I had thought that Rachel talked sense, i have liked a lot of her proposals that she had put forward and thought at last Labour are getting some idea of what is required. However, if this article is true, then my opinion will completely change and will cloud my previous thoughts with regard this would be Chancellor. It just never ends. When will these morons wake up and think for themselves instead of trying to be popular or whatever they think they are trying to be! I supposes the answer is that as Politicians realise they are ineffective with regard the important big issues, Putin, Corporations and getting fair tax, sorting out the NHS and the list goes on....therefore they go for us a soft target.
From:
Andy Marshall
12 January 2023 11:31 AM
Never heard of this Group and would avoid if i do. They are talking utter nonsense. Minds have been made up already and BTL though not dead is a wounded animal with no sign of recovery.
From:
Andy Marshall
12 January 2023 09:51 AM
The writing is on the wall for this industry as a private Landlord. Firstly the bank made it too easy, 125% mortgages etc as they greedily sucked up this business. Now they want to kill off the industry by making it unworkable in conjunction with section 24. I'm lucky as I can sell some properties to clear most of my mortgages and then go back to having a reasonable income. If a tenant leaves in one of these mortgage free houses I will then have a decision to make, which will probably be to sell. I'm all for being fair but this proposed Reform Bill is just too much for me to swallow. If Bank of England decides that interest rates still need to keep going up, then we will be in for a rocky ride.
From:
Andy Marshall
12 January 2023 09:47 AM
I know what you are saying Michael, but some of these experienced new sparky's, armed with their books and 6 months training will get you to do a whole host of changes, if you let them. Fortunately my brother is an old school electrician and will help with high lighting correct procedures, helps also that he is highly qualified H&S. Not to current standards does not mean unsafe!
From:
Andy Marshall
12 January 2023 09:32 AM
Not sure that I can agree with this article. I will say currently those whom need to sell are doing so and those wishing to buy will get a better deal. I think this will be short term and once the bank of England muppets stop the pointless interest rate rise then we will see a move by buyers. Historically rates are still low. Lenders will become more confident and will offer some good deals. We know that inflation is falling and this will give confidence. I don't see a spike in prices but more of a levelling off but market, IMHO, and prices will hold. Buy now for that bargain!
From:
Andy Marshall
11 January 2023 17:51 PM
Absolutely right Michael. Electrics are not such a problem as long as clearly labelled on the fuse board, but plumbing is a different matter. I live in a 1950's house which has been added to and need to re do a lot of the pipes, waiting for hot water from the boiler can take an age. Once I've had a bit of a sell off and finished making good some of my rental houses I will then focus on my own place!
From:
Andy Marshall
11 January 2023 17:45 PM
I do dislike the term property expert, unless of course it refers to ourselves!!! For once I can agree with this expert though. But it is early doors and lets wait and see what our glorious leaders have in store for us dastardly Landlords. On a serious note if you have been holding off buying a property to live in get your offers in now as once sellers see prices going up then they will want more. It can take up to 6 months for a sale to go through. I'm selling a house which I accepted an offer in September and still told that the buyer is signing paperwork and then it will all be completed. Same happened to me the previous year, offer accepted in September sale eventually completed in middle of February!
From:
Andy Marshall
06 January 2023 12:41 PM
In the main a HMO will earn more money, but it is a lot more work and often you get involved in silly disputes in the house. That said when I did have some HMO's that worked well they were very rewarding financially. I would think very long and hard before making this choice again though.
From:
Andy Marshall
06 January 2023 12:28 PM
Hi Dani, I voted for Brexit and stand by my vote. I have a property in France and have lived there as indeed Germany but for less time. Consequently my decision made my life more difficult for myself as a result. In fact now I'm looking to sell my French house. I also agree with you that we have cut off a supply of tenants. Not that we now have a shortage. But none of this is the reason I voted for Brexit. We have a very different opinion to our neighbours. I regard myself as serious Landlord and have been one for more than 30 years, though I will be selling properties now, though may not entirely leave, time will tell. If you asked a French person or a German and so on what is the principle reason that they would say why they wish to be part of the European Union? The answer is not even thought about by a Brit. Again this is not the reason why I voted to leave. Now I would agree that the Politicians have made a complete balls up of leaving the EU but that is a different agenda. I would also add that I am sure you have excellent and valid reasons for your comment, I am simply pointing out a different view.
From:
Andy Marshall
06 January 2023 12:13 PM
Good spot Andrew. Yes muppets are running everything now. We need more roads and more parking spaces. With electric or hydrogen cars coming to be the norm over the next 50 years who will want to travel on public services and then taxi or bus to wherever they go next. The exception to this is city dwellers, you don't need a car then.
From:
Andy Marshall
05 January 2023 17:49 PM
Like others here I have a mix, older boilers i have insured with British Gas, I pay between £18-32per month. I have opted for a call out on the £18 one. Pay £60 if called out. I found that PCB's kept failing which were costing anywhere between £150-£300 to fix! I ensure all new boilers have extended guarantees and only fit Worcester Bosch or Vaillant. Completely agree with Michael, new boilers are rubbish compared to the older ones and I'm not convinced about economy either. I had a boiler from the 70's in a house where I lived, I couldn't repair as no spare parts, put in a condensing boiler which should save me money, i have to say there was hardly a difference on the bill!!
From:
Andy Marshall
05 January 2023 17:44 PM
You've spoken a lot of truth here Jo. Sunak, for me is not a leader, his 5 point plan is just talk. He needs to lead and make some fundamental changes in so many areas, housing being one that affects ourselves.
From:
Andy Marshall
05 January 2023 17:27 PM
Michael you are quite right. In the main I was referring to the good people on this site. I guess you could also say all the Social Housing Companies and 'Annington' whom look after the Armed Forces properties. Now that was a scam. I have to say that i'm fed up with it all and trying to ease my way out. Shame really as I've enjoyed being a Landlord.
From:
Andy Marshall
04 January 2023 20:40 PM
And what happens if you want to move.
From:
Andy Marshall
04 January 2023 20:33 PM
Aldermore's survey will be conducted with loaded questions. I have stopped doing said survey's when asked due to this very issue. We now have a two tier market going forward, those with mortgages and those without. If you're mortgage free, firstly well done and some of the complaints on this forum will have little effect on you. The main issue, in this case, will be Gove's wrecking ball, but until we see this come into force, then, we cannot allow for it. Often this Government throws out a lot of spin that then is not as bad as we had feared. Sometimes though that is round the other way! For us with mortgages, we need to sell in order to make any money out of this situation. I don't worry about the changes in CGT, the difference on a £100,000 gain is small compared to the gain. At least the Government left the tax at 28%, though still high it would have been a disaster if they linked it with income tax. I have now got my head around the fact that I need to sell. I will do my best to plan for this. What I have found beneficial when I have sold a property is putting the maximum I can into a SIPPS pension, this year my tax bill is under £1,000, whereas last year it was £11,000 not including the tax that I had paid on my salary! As for buying more property.....put simply you need your head examined.
From:
Andy Marshall
04 January 2023 20:06 PM
Hi Michael, clearly you have very good knowledge on this company, I only have a snap shot on an estate in Maidstone where both Bovis and Taylor Wimpey were the builders in the early seventies. Bovis are regarded as the better houses. I think part of this was down to battened walls whereas Bovis used the breeze blocks. In addition the TW houses had the air flow central heating which is rubbish, though understand that this is irrelevant to the build quality. With regard to the Victorian houses, absolutely and the same for Edwardian houses.
From:
Andy Marshall
31 December 2022 16:59 PM
My fellow brothers and sisters, a heart felt Happy New Year to you all, let's hope that 2023 will not be as bad as we imagine. At least 2024 should be a better year as the tories will do their level best to give tax breaks in the hope they will be voted back in! Good luck and health to you all.
From:
Andy Marshall
31 December 2022 16:49 PM
I believe that there is some truth in this article. I'm sure agents have told Landlord's to increase their rents. I am also sure that those whom have no mortgage will benefit more than those with mortgages. Hence I am selling to massively reduce my loan to value. Having done the math I should be able to be mortgage free on 2 properties and have a small mortgage on the third property. Hopefully all achievable over next 3 years! The simple fact is that the legislation that this current non tory Government have subjected the PRS is the main cause of these rent increases. I would add to this the incompetency of the Bank of England over the last 15 years and lastly a growing number of tenants that flout the law/rules and require Landlords to further protect themselves financially. If these so called charities have think it has been bad the last few years, well they will go into meltdown with what is going to happen next!!
From:
Andy Marshall
30 December 2022 14:18 PM
I don't understand this also. If this pace continues we have no chance of a debate. I agree with Mario, write to your MP also. Sentiment is very slowly changing in main stream media and we have to keep the pressure on anywhere we can. If the current trend continues I will no longer wish to be a Landlord.
From:
Andy Marshall
30 December 2022 14:09 PM
1900 through to 1970 to me have been a good age for house building. Had a Bovis home circa 1972 which was also good, the taylor woodrow on same estate and same age I hear are not so good. I guess from what is being written from 1960 it depends on the builder! Completely agree that new houses have no chance of weathering the years the same as the older houses, though will be cheaper to run in the early years. The multi-laced timbers you see in modern houses have already caused problems for some unlucky owners when they have failed due to decay. Plus builders have gone back to steeper roofs in order to get the water away. I will get my kids to invest in an older property and leave others to take a chance on these newer houses.
From:
Andy Marshall
30 December 2022 14:04 PM
I'm in the same position and with the tenant not paying. Whole legal system is heavily weighted in the tenants favour. I believe this is the end game for me, no more new tenants. When a house becomes empty i'm selling, unless the rules change in our favour....as if! Incidentally all my properties are in England.
From:
Andy Marshall
30 December 2022 13:53 PM
Yes, Nationwide does seem slightly optimistic. I thought house prices would fall no more than 10%. Interest rates are still low and as such I believe a lot of first time buyers will afford these rates and will make the most of a falling market. I think this fall will be short lived and come to an end this time next year if not in the Autumn. That said, I am still selling in order to get my loan to value down into the 20's if not lower. Plus I will have to put up rents drastically, looking at £100 increases per month. Even with these increases for most of my remaining properties I am still below the average.
From:
Andy Marshall
28 December 2022 10:29 AM
Read the article and thought the exact same that Neil has written above, I also agree with sad Landlord, for most of us it is the mortgage rate that is the biggest expense.
From:
Andy Marshall
23 December 2022 18:05 PM
The circumstances are different this time. Government are aware that private Landlord's are leaving. Accommodation in all aspects is a lot more front line currently. Will it make a difference, time will tell, but of course we need to keep trying. I've signed, have encouraged family and friend's to do the same and will be writing to my tenants to also sign, along with a notice that this is the reason I have to put rents up, again. Interest rates are not high. It is the Section 24 which is causing the issue. When else has anyone been taxed on unearned income!!
From:
Andy Marshall
23 December 2022 17:48 PM
I've just hijacked several of my WhatsApp groups to put out a gently worded plea for my family and friends to sign this. I've explained it is for the benefit of tenants as well as a business like mine. Restaurants can claim cost's such as food and water when running their business, then what is the difference for housing.
From:
Andy Marshall
22 December 2022 10:14 AM
For those whom are NRLA members I would urge you to persuade the NRLA to send an email to it's members and let them decide. More petitions and voices heard WILL influence MP's. You need a broad approach to gain ground.
From:
Andy Marshall
22 December 2022 10:04 AM
I wish that i had seen advice similar to that listed in this article. I am now going to Court to evict on a section 21 and it will take months of no rent before I will succeed in removing these tenants. They have moaned and complained whenever I do anything to the property. Trades men have complained to me concerning their aggressive demeanour and they are at least 5 months in rent arrears currently. Have been advised against using a section 8 as that will take longer, as they are bound to contest issues all the way. Now that I am being educated in a most expensive way I whole heartedly agree, find a new tenant.
From:
Andy Marshall
22 December 2022 09:53 AM
Just signed this petition, I will encourage all my family members to do the same and i will inform my tenants to consider signing this and i will explain that this unfair tax is one of the main reasons that I am putting up rent.
From:
Andy Marshall
22 December 2022 09:44 AM
Is there a link for this petition?
From:
Andy Marshall
21 December 2022 08:19 AM
Michael, I understand and agree with 90% of the point you are making and most certainly the points on more legislation where they skim an extra layer from our wallet. Reducing apprentices to 6 months and allowing these guys to work alone on someone's property is madness. Please bring back old style apprenticeships, though agree that it does not need to be as long as 3 years for some, 18 months maybe...but properly tutored not read! We need more tradesmen and that's for sure, currently I do most things myself as often i'm not satisfied with what the builder has done. In fact i'm having a fence done today and the neighbour has phoned me to say that it is not right with the posts at different heights! I'm getting over an operation currently so unable to do that kind of work for a couple of months. Everything is becoming computerised and it is not going to change. This has been accelerated by Covid as we had no contact with each other directly and as such had to use a computer. Banks will disappear even faster as a result from our high streets. Things change and at an ever increasing pace, i'm glad that i'm coming towards the end of my working life though a ways to go yet! First wage was £6.00 per week after food and lodgings taken out!
From:
Andy Marshall
16 December 2022 17:42 PM
Never bought at auction, though did try to sell one recently. Had been on the market at £550,000 put into auction at £480,000. Nobody was interested. My view don't sell currently as buyers are quite twitchy to see how high rates will go and how bad will the recession be! The same goes for lenders. My view wait a year if you can, a lot will happen. The first 6 months next year will probably be worse, but towards the end of the year it will improve. I am likely to re-let a property I have in Bedford, though did want to sell. Still waiting to get possession of a property in Norwich, and this could take several months including my time to make good when it is returned to me!! I will make a decision then as to whether I bring to the market or re-let. I want to maximise my return to pay down mortgages on the properties I wish to keep, hence my decision to hold currently.
From:
Andy Marshall
16 December 2022 12:23 PM
I agree to some level with you Michael, but unfortunately you cannot fight change. Most new Landlord's, I would assume are Property Managers nowadays. Like many on this site I am hands on. Neither is right and neither is wrong. I can cope to a point with technology but choose to have an accountant and pay roughly £600pa. This was for a portfolio of 14 houses some 8 years ago and is the same price now that I will be down to seven., eight currently as still waiting for my latest sale to go through. Interesting to read about setting up a Ltd company just to manage the properties, may have a chat with my accountant to get a better understanding of this. Currently I pay my partner, who otherwise has nothing to do with the properties, to manage them and carry out the repairs. Admittedly it is taking her a long time to be trained to take on these repairs, but she still needs to be paid for her time. I also agree that making tax digital is not right for us. On one side they say we are not a business , but when it suits, it would appear that we are. On the upside Michael you must be doing well to need to pay a five grand sum for your accountant.
From:
Andy Marshall
16 December 2022 12:12 PM
Having read the decision making and listened to Andrew Bailey I am super unimpressed. Just 2 voted for no change. One wanted a higher rate. Raising rates now is just adding to misery of homeowners with mortgages that are variable rates. It will make very little difference to inflation. It is obvious that inflation will fall as we absorb these new costs. How can you not spend money on food, heat and fuel. I don't think many are going out on a spending spree. Christmas presents yes, but only to be expected. Even so the rate fell 0.4%. They should have just left it alone this time. Cretins
From:
Andy Marshall
15 December 2022 17:34 PM
Ouch, more money to the Government in tax due to Section 24. And of course more borrowing costs. As borrowers fixed deals finish next year then they will be sharing my pain. Didn't see the need for this increase currently and certainly not 0.5%, they seem hell bent on being seen to be doing something. I shall read the decision process with interest. Maybe if they had put the rates up back in 2014 onwards we would not be in such a mess. Tenants will be hit hard with further rent increases! But not as hard as i've been hit, though in fairness I can afford this, I estimate I will break even if rates hit 5.5% with Section 24. Not including maintenance and other associated costs. Prior to section 24 break even was roughly 8% base rate. Merry Christmas
From:
Andy Marshall
15 December 2022 15:19 PM
It would appear that our loan amount is similar, though as selling one property will go down to £900,000. Your interest payments are far better than me, unfortunately unable to fix my rates earlier in the year as rents were too low. When I raised the rents so interest rates rose and again I could not fix. Hence my preference to sell some properties. In order to plan for the future I am able to offset some of my tax into a SIPP. I can do this as have a part time job, work around 6 days a month. In this way I can offset some of the effects of section 24.
From:
Andy Marshall
14 December 2022 11:29 AM
Rents will need to go up, I will be writing to all my tenants early in the New Year and letting them know that the rents will be going up significantly, higher than I have ever put them up before. I am letting my properties way below market price. The choice is simple, rents need to go up and if not then I will need to sell. I will point them in the direction of the nearest Tory MP as to the reason.
From:
Andy Marshall
14 December 2022 08:55 AM
Good point, the Council's should also encourage elderly residents that live on their own to downsize. Still to many one or 2 families in 3 bed houses which were intended for families.
From:
Andy Marshall
14 December 2022 08:51 AM
I agree, but will stay in longer if property prices tumble too far. Hopefully in next few years I will have sold enough to be mortgage free on the others. For me less outgoings is the way forward, just need to navigate slowly. I am keeping properties where I have long standing tenants whom I have a very good relationship with, though rents will need to go up to cover my costs thanks to section 24 until I can reduce the mortgages.
From:
Andy Marshall
14 December 2022 08:49 AM
This is not PRS as such. These will be pension funds and similar bodies. And maybe a lottery winner!
From:
Andy Marshall
14 December 2022 08:45 AM
Even for me that is optimistic, currently asking prices are easily 10-15% below what they were 8 months ago. My house in Bedford that I wish to sell would have been marketed at £325,000 then, now i'm being told offers over £280,000. If you need to sell quickly you have no option but to drop your price. I feel this will be short term though, as it is likely that cost of living will continue to fall, interest rates should settle down with no more increases and some confidence will come back to the market. I will review in February, which gives me a month to carry out a light renovation at which point hopefully I will sell but if prices are too low I will simply re-let.
From:
Andy Marshall
14 December 2022 08:43 AM
Another pointless article. Of course with pressure on costs of houses and rising interest rates many investors will look elsewhere. With a punishing tax regime for private investors in property, currently it is not attractive. I see that cost of living has fallen 0.4%, still I bet the Bank of England will put up interest rates. More misery for mortgaged property owners.
From:
Andy Marshall
14 December 2022 08:36 AM
Interesting comments, I can understand your sentiments and I bet that purple bricks wished they had never taken them. I used not to take deposits but do now. I have had bad experiences where I have paid agencies to find tenants for me, I no longer do this and meet all prospective tenants and so far have had no problems. Lesson learnt. Nobody is more invested in your property than you.
From:
Andy Marshall
09 December 2022 11:07 AM
Agree will get worse, interest rates still need to go a little higher. This will cause some major issues for some. Those on fixed rates that are ending soon, save or pay down your mortgages as the figures will not work when you factor in Section 24.
From:
Andy Marshall
08 December 2022 12:33 PM
In my view another poorly worded and half the story article. Does not matter whether you are a portfolio Landlord or have one or 2 properties. How you are mortgaged counts now. If you have a fixed deal for the next 3 years or more then you'll carry on. If you are variable, like me, then you'll be selling. Clearly depends on the loan to value also.
From:
Andy Marshall
08 December 2022 12:29 PM
This article is missing a few words, rich, well off canny Landlords can bag some bargains. I had a house up at £550,000 had one offer of £470,000, fortunately I don't need to sell, so didn't. But others may need to or have just had enough and want to walk away from this industry. It's all down to your own personal circumstances. I intend to sell half my portfolio, but I may need to wait a couple of years due to the change in the market. I will find out in next couple of months!
From:
Andy Marshall
08 December 2022 12:23 PM
You maybe right Michael but i would give good odds that prices will stabilise come the Spring. My advice would be look at as many houses as you can and put in cheeky offers, someone always needs to sell.
From:
Andy Marshall
08 December 2022 12:16 PM
Yes this is definitely the case for now, I believe this will be short term. Only time will tell if I am right. Tried to sell at auction a large house, no joy so it is being re-let this Friday. Property going through currently in Nottingham, might even complete before Xmas, sold at asking price. Had estate agents round this week, advised that house should go on market at offers over £280,000, if this went to market in the Summer would have been offers over £300,00. Tried to sell in 2018 for £225,000. I am happy to take around £280,000 for it though. If I don't get an offer in January I will simply re-let. This is in Bedford and a 1950's 3 bed end of terrace with ground floor full width extension.
From:
Andy Marshall
08 December 2022 12:13 PM
Totally agree Tricia, when interest rate flattens out and cost of living reduces people once again will turn to buying their house. Bank of England predict that cost of living will be down to 2% in 2024, if not lower. If this becomes reality then stand back for a stampede of buyers and again house builders won't be able to keep up and we will have a further shortage of trades people and so the circle continues!
From:
Andy Marshall
08 December 2022 12:04 PM
Well said Robert, saved me writing the same. We differ in that I am selling, probably more than half my portfolio to be either mortgage free or tiny tiny mortgages.
From:
Andy Marshall
07 December 2022 17:11 PM
These dullards, sorry politicians, should focus on why Landlords are using section 21 and why the number is increasing. It would be so easy to stop it. All they have to do is a U-turn. State that they completely got it wrong and will try harder next time. Obviously this won't happen, so if you are mortgaged as a Landlord best look to sell or pay down that mortgage ASAP, it's not going to get any better no matter what they call this Reform.
From:
Andy Marshall
02 December 2022 17:49 PM
On this, if they go, then I will sell. As much as I have liked being a Landlord I am happy to stop. I cannot see any change in the coming years to this or any Governments view towards private Landlord's and as such I have no wish to subject myself to it. For those that have the appetite I completely agree rents will go up, but eventually this will force the Government to focus on this and then what!!!
From:
Andy Marshall
02 December 2022 13:26 PM
Like Simon I still aim to sell, have one property going through now and possible to be completed this month. Failed to sell a property at auction but this was a large 4-bed detached and with these houses there is not much movement. It has now been re-let. Start work on another property in Bedford, 3-bed end terrace, to give a makeover before bringing to the market, hopefully in February. Also still ongoing eviction with a house in Norwich. I fail to see why house prices are set to fall for 2 years. Certainly a fall next year, but I don't believe this will be more than 8-10%. With the last 4 years of a rising market most Landlords will have no issues with a 10% drop, those that wish to sell. When better deals for mortgage rates come along stand back for the stampede. That said, I think buyers will be more canny but nonetheless small rise in prices and then stability if we don't have more shockwaves from Ukraine or this Government. It's all very subjective and depends how quickly you need to release money tied up in a property. If you are a small business owner as well as a Landlord, then you are very likely needing to liquidate your asset quickly, but if a baby boomer whose set to retire you will likely have less pressure on you to make a quick sale. The only other issue I have is putting up rents for my remaining tenants. I will be having a frank conversation with them, my rents have always been below market and this will need to change. If they want me to keep the house then rents will need to rise ,a lot, over next 2-3 years. One of two things will happen after this conversation. Good luck to all.
From:
Andy Marshall
02 December 2022 09:18 AM
Hi Catherine, interested in your reply. Have emailed the Reform Party to see if I can get an update. Hi Grumpy, read your reply with interest also. I know the debacle that went on in Ireland when they brought in the same policy years ago and then when they had collapsed the housing market for both buyers and renters they then reversed their decision. UK being a much bigger market and more importantly the incredibly low interest rates have delayed the issue here, though clearly this train wreck of a policy will keep on revealing itself!
From:
Andy Marshall
22 November 2022 10:28 AM
Politics in this country is a farce. This budget is aimed at keeping the Tories in. They are hitting us hard in the pocket with taxes and austerity measures in order to give tax breaks in the election year. We do not need all these measures now but we do need help for small businesses to keep the economy rumbling along. And we need section 24 to be abolished to encourage more Landlord's in the private sector. I've read where others believe here that the Government want Corporations to run property empires. Is that not what social housing is now. Look at the consequences, no inspections, I doubt anyone has been round to peoples's houses, in some cases for years. Whereas private Landlords have a much more vested interest. There is no chance of mould being in any of my properties that could affect someone's health. I despair at this government but feel that Labour would be no better. I will look at the Reform Party but would this just be a wasted vote. This is a great country it's just being let down terribly by our so called leaders. Still on the bright side got the footie to look forward to this afternoon.
From:
Andy Marshall
21 November 2022 11:05 AM
I don't blame you Simon and I fear that you are right. I will stay a Landlord, I'm far to committed now, but will get close to being mortgage free once i've sold just over half my portfolio, as the only way to stay in the game in my view. Eight properties, probably will be down to three by the time i've finished. Sold one already. It is really annoying how they can treat a LTD company one way and private Landlord's another. If I was a sparky whom was Ltd, I would be treated similarly if I was a non LTD sparky. Crazy.
From:
Andy Marshall
19 November 2022 14:20 PM
Succinct and bang on the money. Hope someone somewhere is listening. We need less nuances and more realisation followed by quick action as above.
From:
Andy Marshall
19 November 2022 14:13 PM
Excellent summary of the situation. I would add that the Government help thus far has successfully reduced the amount of housing stock for rent, further alienated Landlord's from any of their new policies, which will make passing a good one (I wish) so much harder. Added costs to Landlord's and subsequently to those whom Rent. Gonad Gove, sounds like a winner to me!!
From:
Andy Marshall
19 November 2022 14:08 PM
Rates are low, it's section 24 which is causing the problem for Landlord's. With regard homeowners they need to decide what they want, an expensive life style or keep their house. I am sure it will be a tough decision for some, though it should not be.
From:
Andy Marshall
18 November 2022 16:58 PM
Completely agree with your last comment. Good that values have stayed ok, so far the one i'm selling in Nottingham has sold for asking price, just hope it all goes through ok. Most of us should be able to be flexible with the price due to the increases over last couple of years.
From:
Andy Marshall
18 November 2022 16:52 PM
I don't disagree. The Government is only getting away with the poor decisions they are making, due to the fact, that the Landlord Organisations are self motivated and not willing to act like a trade union. If we could link up as a strong body we would easily be able to influence the Government. Can't ever see it happen though, which is a shame.
From:
Andy Marshall
18 November 2022 10:43 AM
Well done, how are you finding your asking price stacking up against the current market sentiment? I failed to sell one at auction. Waiting for a tenant to leave next month and also in the middle of an eviction process. I will defo sell one of these, most likely the one in Norwich as previously mentioned, in 2 minds with the one in Bedford but more likely to sell. I am selling to clear mortgages, will stay a Landlord with the good tenants that I currently have and will review when and if they decide to leave, though my shortest tenancy will be 7 years and my longest 20 years!
From:
Andy Marshall
18 November 2022 10:38 AM
It is amazing how wrong they are getting it in our sector and it makes you wonder what else they are messing up! Extra costs for Landlord's means extra costs for tenants. Section 24 and licensing has already pushed up rates along with the cost of living. For those Landlord's, myself included, whom have mortgages this situation will become much worse. Put up rents further or sell! Therefore less properties for the PRS and Landlord having to sell which will reduce their annual income though offset by lump sum from selling the house. The Government need to wake up to this situation. And soon as there will be a lot of pain to come.
From:
Andy Marshall
18 November 2022 10:30 AM
Yes, i think will be ok also. I've got one of the old RAF Houses, 3-bed semi, near to the airport, lived there for about a year and liked Norwich very much.
From:
Andy Marshall
17 November 2022 15:02 PM
The expected changes to CGT were far worse in my mind than has actually occurred. In fact on balance I am ok with these proposals. In real terms I will be worse off by £1500 ish when I sell a property in 2024. With the gains I have made on this property in last 4 years, some £50,000 it's fine. That said this is assuming the property market does not falter beyond 5%, well for me not in that particular part of Norwich.
From:
Andy Marshall
17 November 2022 13:06 PM
Wow, the NRLA must be worried they will be out of a job soon, with so many Landlord's leaving the market. They now speak when it is too late! I cannot agree that the Government are deliberately destroying PRS. This would imply they know what they are doing. They have formed an opinion, some based on a horrible human trait of jealousy. They genuinely believe that we do very little for a lot of money and nothing is going to change their minds. The Bank of England are just as bad, clueless with the economy. What really bugs me though is that these people still get their fat wages followed by their fat pensions. There is a name for these people. An organism that lives on the host, doing the host harm is called a.....
From:
Andy Marshall
17 November 2022 10:21 AM
Absolutely on the nail, plus poor enforcement of the existing laws.
From:
Andy Marshall
17 November 2022 10:06 AM
Until we know what the budget is all about I can't formulate a plan. Section 24 needs to go, but of course it will not. If they raise CGT too much I will sell more than I had originally meant to sell. There is no way that I will do all the work I do for 60% of any increases I get, minus the 40% that I pay off the mortgage amount etc. I will completely pay off one or 2 mortgages and then this will be my pension in a few years. I've had a good run with being a Landlord, never thought we would have such short sighted incompetent MP's in power. In less than 24 hours we will know more!
From:
Andy Marshall
16 November 2022 14:21 PM
This is PR for Rightmove. New builds often are put on market at lower price this time of year, for obvious reasons. Another non story. Other sellers will be encouraged by agents to be competitive. I do think that spelling and grammar are important, though it is human to make mistakes. I also appreciate that it is not important to others. The need for individuals to correct others often tells you more about the person doing the correction than the person whom made the error. If made in good faith then no problem.
From:
Andy Marshall
15 November 2022 23:00 PM
Average's are very dangerous for comparison's. A mean average, which I guess they are talking here is if you add all the properties rents and then divide them by the number of properties will give a very distorted view. If you use the mode average, this will tell you the highest number of houses at a set figure. The latter will be a very different figure to the £2750 they have used here.
From:
Andy Marshall
11 November 2022 19:46 PM
Shared ownership is a con. There are going to be a lot pf people in trouble with this when their fixed rate runs out. The only way shared ownership works is when friends club together, these Government schemes only help the new builds to sell and charge more. Parasites!
From:
Andy Marshall
11 November 2022 09:17 AM
There is still demand to buy out there. If I was a first time buyer i'd pause currently, but with mortgage rates already coming down i am not so convinced of this survey. A lot of economists, though not all, are talking of a soft er landing economically speaking. Simon is quite right, the Tories really have turned the screw and dog eat dog is very apt. I am trying to do right by my long term tenants and ensure that I have a good business (sorry investment) to run, but the Government policies make this very challenging.
From:
Andy Marshall
11 November 2022 08:41 AM
Non story, nobody knows the future. Let's get next year sorted, in fact let's wait and see what happens on 17th November!
From:
Andy Marshall
11 November 2022 08:29 AM
I too am selling and have no chance of beating the 17th November. I am hoping any changes will not be immediate. Like Frances I am hoping that nay changes are not too severe. I've already written to my MP to state quite a bit that is mentioned above. We need a new political party as I do not feel represented by either Labour or the Tories.
From:
Andy Marshall
09 November 2022 10:10 AM
Both of you, thanks for putting a smile on my face and both for making the point so well.
From:
Andy Marshall
08 November 2022 19:09 PM
Hi Brian, in your 20 years how many Landlord's have you had? In what way have they been amateurs. Plus what were your expectations. In the 30 plus years of being a Landlord I am disappointed in Government's that have interfered in my profession of being a Landlord and meaning more expenses for me and for my tenants. In most survey's where tenants are asked how they get on with their Landlord's the overwhelming answer is positive, it should be after all as it is a partnership. Things go wrong when one side lets the other down, in my experience this happens more from the tenant than from me. That said I have had many more good tenants than I have had bad.
From:
Andy Marshall
08 November 2022 19:04 PM
A house I am selling now was valued in 2017 at £135,000 in 2018 had an offer of £152,000 but it fell through due to a breakdown in a relationship so I re-let. I am now selling for £220,000 accepted this offer second day of it going up for sale and was the full asking price. I've checked and they had their mortgage offer after the crazy mini budget. I am concerned though what will happen with CGT and the personal allowance, only a few days to wait though. I did have a larger house in an auction, starting price was £480,000, no takers and at this price it is a bargain. Have dropped the price to see if I get any interest but will be unlikely to sell. Instead will be re-let. Currently I think first time buyers will dominate the market.
From:
Andy Marshall
08 November 2022 09:36 AM
I completely understand your decision and like you I am concerned over the welfare of my tenants. I see letting a house as a partnership although weighted in my favour. These charities like Shelter etc don't seem to understand this, despite surveys saying that most tenants get on with their private Landlord. As for the Governments policies, it is really concerning to me. If they don't understand this housing issue, then what else have they messed up!! I believe more Landlord's will sell up completely or reduce their portfolio, after all some of us aren't getting any younger. I am not so convinced the falling house prices will be a deterrent, yes they will fall but not compared to the last 18 months rise. Already lenders are dropping their rates and I think early in the New Year those wishing to get a mortgage will have even better rates to choose from. Yes the base rate will still go up, but the lenders over-reacted and will bring their rates down. I'm sure some will disagree with me and they could well be right, but this is my opinion. I am referring to residential rates in the main, as I keep an eye on this as I am selling.
From:
Andy Marshall
08 November 2022 09:27 AM
I agree with John on this Michael, Osbourne was and his legacy is the problem here. Personally I would have preferred Johnson to have stayed in office. The Tory backstabbers are the ones that need to go.
From:
Andy Marshall
08 November 2022 09:17 AM
I'm always sceptical about these claims. Often I see it as stoping DIYers. Putting loft insulation is pretty straightforward. If you use slabs of insulation on the outside of your building this is more of a specialist job. Cold bridges can occur, especially if you have something like concrete guttering, but in general terms insulation in your homes is a good thing and you can save a fortune doing it yourself. I know it's not for everyone though!
From:
Andy Marshall
08 November 2022 09:11 AM
Yes it is not always clear cut. I've been lucky with one of my houses and the son is a window fitter. I have now had all the windows replaced at just the cost of the windows. I have offered to purchase extra loft insulation and have asked the tenant to give me a rough size to the loft in order for me to purchase the required amount. It's been 2 months now and still no reply.
From:
Andy Marshall
08 November 2022 09:00 AM
Very well put.
From:
Andy Marshall
08 November 2022 08:53 AM
Whose paying these idiots to do this survey, I bet it's us the taxpayer. No wonder we've got no money. Loaded questions will always give you the answer you are looking for. The only people whom would need a course and training is brand new Landlord's. You soon learn the old way otherwise. For me to fit a kitchen or bathroom and all the jobs in between is not a problem. The exception is all the new legislation and procedures. In the eviction I am carrying out now I'm using a company that know what they are doing. For me it makes sense as I will get annoyed at all the bureaucracy. Horses for courses as they say.
From:
Andy Marshall
08 November 2022 08:52 AM
Though again off subject completely agree. My brother was an electrical apprentice in late seventies and he profited well from his work and looks back at those times with affection. Neither of us were that keen on school but left with reasonable results back then. I went a different route of HM Forces and would also highly recommend that. Not everyone can be a graduate and the country really needs tradesmen now, the schools should be focusing on that as well as health care workers.
From:
Andy Marshall
07 November 2022 11:02 AM
I cannot see these stats being correct. I can see that there will be some movement from tenants leaving. I have had 2 families decide to go back to their countries as they have family commitments there but also much more of their money is going on rent and my rents are not high. The last ones whom have just given notice and leave in first week of December left as I let them know of a rent increase. I was still £75 below the average for Bedford for a 3-bed house. There are a few tenants that can now buy and this will create movement, but with builders bound to reduce their build quota as we enter into the recession which will be 23/24 then stock will fall and tenants will struggle to find properties.
From:
Andy Marshall
07 November 2022 10:01 AM
Spot on Jo, but alas we are the baddie in this pantomime that the Government have created. It is a simple solution for them to get rid of Section 24 and it would make a huge difference as in reality rates are very low.
From:
Andy Marshall
07 November 2022 09:52 AM
It is remarkable to me that the Politicians cannot see the problem they have created. Interest rates in reality are still low. Base rate is just 3.00%. Why the mortgage companies need to virtually double this needs to be addressed. The Government should phase out or reduce the tax that is paid on mortgage payments and not include this as it is under section 24, that will ease the pressure on mortgaged Landlord's and therefore tenants. Even if they were to do this I am still selling at least a third of my portfolio in order to restructure the debt to equity in my favour. However, if prices fall more than I expect I will hold. Fortunately I have had tenants leave and am only evicting one household due to thousands in arrears.
From:
Andy Marshall
07 November 2022 09:46 AM
I agree, putting up interest rates over and over again is not the answer this time. Yes we have needed rate rises, they should have started in 2014, if not earlier. Putin's war has also added to poor decision's made by our so called leaders. What really bugs me now is that these people get paid and have healthy pensions whether they are good at their job or not. We need more consequences for these people, after all we get hit in our pockets! VAT needs to go up temporarily, this will be far more effective at stopping spending. Fixed rate mortgages and people with no mortgages are not effected as much. Separate the mortgage rate from other loan rates would also help in this situation.
From:
Andy Marshall
06 November 2022 11:18 AM
I think the only competition that is going to be kept away is other private Landlords. Michael is right in that the big companies are taking over and investing heavily into the market place. Not so sure that they wish to buy older properties though. How long this will last is anybodies guess, but certainly more time than I have! I do not disagree in your comments about being a landlord, I will continue to be so, just need to de-leverage to manage the incoming storm. As you know it is the incompetent officials and useless politicians that are creating the issues and I am fed up with it but will manage.
From:
Andy Marshall
06 November 2022 00:29 AM
Hi Michael, yes I agree that it is highly likely that I will be fleeced further as I reduce my portfolio in this market place, but the houses have paid their way and will have a healthy profit when I sell. I do not intend to spend a penny of this money but to pay off mortgages which, even after tax, will put me in a better financial position. I have had another tenant give me notice and now need to decide if I wish to sell this property also.
From:
Andy Marshall
06 November 2022 00:22 AM
I don't know much about Mr Shamplina, i expect he has a big ego, not bad in itself though! His comments above are very accurate and descriptive as most of us on this forum will agree. However, I don't see this industry as fast moving or fast paced unless he is referring to mortgage rates. The writing has been on the wall since about 2006 with changes for rental market. Back then, when every other person in the street were talking about becoming a landlord and homes under the hammer was clearly produced to show how easy it was! When the wheels came off for a lot of people in 2008-10 this image did not go away. Falling interest rates and this belief that we did very little to have this income fuelled resentment and jealousy. Osbourne tapped into this in 2016 and now some Landlords will need to sell as they will not be able to afford these rates and pay their tax. Looks like when we sell we may also be paying more CGT, it never ends. This will get worse next year and possibly 2024 if your current fixed deal comes to an end, same for home buyers. Therefore a 10% dip is very likely though due to shortage of properties (iMO)i think unlikely to be worse than this. I disagree with Paul as I do not see an end to these changes that are being proposed, just listen to the news about COP; how can they not insist on insulation now. Section 24 will not be reversed as it will be deemed supporting the rich etc etc. It will be better for those with small or no mortgages, hence my sell off now to put myself in that position. The change in the rules I can handle, paying out more money is not so appealing. Advice for new Landlord's, examine why you want to do it closely and only do it if you have a 60% deposit. Otherwise you will lose your money!
From:
Andy Marshall
05 November 2022 15:09 PM
I think this is a good thing myself. House prices shot up last Autumn till the Spring when some sanity returned. I believe this price drop and the time it takes to sell a house will effect the larger houses rather than 2 or possibly 3 bed houses. Really does still depend on location also. 5 to 10% drop will not worry anyone and will be good for the buyers prepared to purchase. We will see a short sway in the buyers favour. Interest rate forecasts have dropped for next year, though we are certain to have another rise this week. I will remain a Landlord but due to all the legislation, mainly section 24, I aim to massively reduce my existing mortgages. Good luck to all. I am one of the Landlord's whom are now selling. Put a house in Nottingham on the market for £220,00. accepted an offer the next day for the asking price! Have the wait now to see if all goes through ok, i've got first time buyers so should hopefully be quick. Two months ago I guess I may have asked for nearer £230,000 but I am more than happy to sell at this price.
From:
Andy Marshall
31 October 2022 11:07 AM
The problem here also is that too many voters fall for their claims. Go back 20 years and the conservatives were the safe pair of hands, now it would appear that Labour have adopted this slogan. Last time they were in we had good times, true. But they spent all the money and more and then had none left to fix the last financial meltdown. Madness and so much for the Bank of England being independent, they are just as useless and being paid far too much money to be muppets. I see that Labour also have their eye on Ltd companies whom run a portfolio. Surely that will need a change in the law, can a limited company be classed as a investment!?
From:
Andy Marshall
27 October 2022 15:17 PM
The problem here for me, like many Landlord's i did not increase my rents. When i tried to re-mortgage at the beginning of the year the lenders told me my rents were too low. This is at an almost 50/50 LTV. Since then my rent's have gone up between £50-£75 but with the increase in rates I still cannot re-mortgage. Selling some has been and will be the only option for me. Though that said, I would have started selling anyways, as I prepare for a simpler life in semi-retirement.
From:
Andy Marshall
21 October 2022 09:40 AM
I am sorry to say unless you have very low mortgages you are going to need to sell. The concern is that if rates keep going up it will have an effect on people's purchasing power in which case you end up selling more as the property prices will have to come down. I do not see a crash, but dependent on how high rates go will affect property prices. I was a witness to this at the end of the 80's, and that was a crash. I have already sold one property, 2 on sale now and one will be going on sale once the tenants have left, whom have put themselves in a position that I have needed to evict. If you have a mortgage on your BTL, unless you have at least a couple of years on a fixed deal or no or very low mortgage there a a couple of very difficult years ahead. This could all be rectified if the government get id of section 24, but i just don't see this happening, well not until Landlord's start to fail!
From:
Andy Marshall
21 October 2022 09:35 AM
Just read an article put out by rightmove. They have assessed the impact to the housing market since the mini budget. One statistic that i noted, and just to be clear they have said that the market is broadly comparable to this time of year before the pandemic in 2019. There are now 4% more properties on the market since the budget. I'd put a sizeable wager that most of that figure is Landlord's.
From:
Andy Marshall
13 October 2022 16:18 PM
Yes all of the above is correct, plus I applaud many surveyors whom blocked over priced houses going through and instructed that a lower price be submitted. However, from November last year until June this year we saw an explosion of activity for would be house purchasers, it was unsustainable and clearly will result in a downturn. But a downturn from a short high is no big deal. There is a shortage of houses in this country and the building industry cannot match demand. Yes in real terms there is a slow down, but this would have happened regardless of the Kamikaze budget. You can still get plenty of mortgage deals under 6% that will hopefully still be low enough for some to still get a mortgage, I believe it will be but many will now be priced out the market now.
From:
Andy Marshall
13 October 2022 11:59 AM
I would approach this from a slightly different angle, though agree with nearly all that has been said so far. Somehow we have been severely demonised, this needs to be countered. Whether we have S21 or a similar replacement we need to show that there is a reason for an eviction. If they want it to be 6 months fine, but make it a criminal offence to owe money on a rental property. They want us to be more European, in a lot of countries it is one year notice. But, it is a criminal offence to owe money to your Landlord, therefore rents are paid. This would remove a lot of concerns by Landlords. But ultimately we need much better PR. As currently we are exposed and as such are constantly under attack.
From:
Andy Marshall
13 October 2022 10:09 AM
One thing to say it and another to do it. Just more ranting and seeking attention. Let's stick to the facts.....more tenants get on with their Landlord's than have issue's with them. When the private Landlord leaves, giving more of the market to the corporate Landlord we will see if that figure of 84% is maintained.
From:
Andy Marshall
13 October 2022 09:57 AM
The Rental Reform is expected to be fully implemented, whatever the final draft is, will be likely in 2024. Therefore for those of us whom wish to sell with that in mind should be ok. Of more concern is the mortgage situation. The ability for first time buyers and others to get mortgages is currently under pressure, if the rates rise this will only get worse. Therefore to sell we may have to trim the price of your property, though I do not see a crash. As already posted I have a property going on sale in Nottingham next week and another in Bedford going to auction on 2nd November. I will update on this forum to give a first hand account and also state how the auction process went in case fellow LL are interested.
From:
Andy Marshall
13 October 2022 09:36 AM
I don't see the point of getting too annoyed by this article. We should have known better than to have been mis-led by a journalist. LT is only getting a battering due to the language that the media use now. Her Chancellor for me has to answer more. I will reserve judgement until 31st October. It got messy when LT lightly threatened to remove the mandate from Bank of England over independence on setting interest rates, as the Government did not want rates to keep going up. This poor interaction between BOE and Government spooked the markets and here we are. The energy intervention should see inflation fall back, but we won't see this until December. Hopefully then we can have a more responsible reaction from our media. We know about the proposals for this Rental Reform, a lot of us are taking action accordingly, me included. We know how this will negatively effect tenants as we will be leaving. That said I have some excellent tenants and I hope to continue with my partnership with them, but once they leave then the house will be sold. Likewise, I have no idea whom to vote at the next GE, how some tories have acted is beyond belief, Gove being one of the nastier ones, though I never did like him. But some of the others have surprised me, just goes to show they were in it for themselves. I don't blame those whom have said they will pack their bags and live elsewhere. Currently it's a mess.
From:
Andy Marshall
12 October 2022 22:53 PM
Yes it will be very good news if it is confirmed that Section 21 is retained. It also shows some hope that they are re-looking at the EPC situation. With regard S24, i think you are right that there would be a backlash if they scrapped section 24, but maybe that could make it fairer and not charge us 40% tax, after all we don't get the mortgage payment part of the rent. If they could reduce the tax then we might not see such an exodus of Landlord's myself included. Currently I will sell 5 of my 8 properties over the next 12-18 months.
From:
Andy Marshall
11 October 2022 16:48 PM
Agreed, we simply do not have a strong enough voice to explain the perspective of the Landlord. I firmly believe that we are looked at with envy. So many people do not understand the risk and work involved for most Landlords. They just see that we have more than one house and therefore we live in some utopia.
From:
Andy Marshall
11 October 2022 16:41 PM
I loosely agree with Simon though the situation was different in the late 80's early 90's, though in part was down to a worldwide economic downturn also. Though I do not see it as a cliff face but possibly a gentle slope, i would say a correction after the pent up demand has been satisfied. Which is not such bad news having had the surge lately. That said I can see our media talking us into a more significant downturn if they do not have anything else to focus on. They seem to love speculating in the subject! A lot depends on the actions of the Bank of England and the Government. If the cost of living plateau's now then the market will be reassured and we could see some better rates being offered. Lenders are spooked at the moment. If i was a first time buyer i'd be tempted to fix for just one or 2 years as there is every chance rates will improve. And of course much does depend on Ukraine and Putin unfortunately. I will be putting a house on the market next week. 5 months ago the neighbour bought their house, date their offer was accepted. They bought for £220,000. I will report back to see what my house will sell for. They are almost identical having both been built in 2007 to the same spec.
From:
Andy Marshall
10 October 2022 10:24 AM
Well said Michael. There are some very savvy people on this site and I think we could do a good job of representing ourselves. It would be good if someone would take this on, I agree that the Landlord Associations seem toothless to me. It would be good to have an organisation just for private Landlord's to give ourselves a voice. I do write often to my MP and in fairness to her she does pass on my comments to the relevant departments. More voices need to be heard.
From:
Andy Marshall
09 October 2022 20:13 PM
Wow, how time flies. Never thought about it before, but I became a Landlord in 1992, so that's 30 years for me. And yes time for a massive review, selling 2 houses very soon, hopefully one going on the market week after next and another at a Clive Emson auction on 2nd November. Unfortunately need to evict a tenant, currently almost £5,000 in arrears. Been advised to use a section 21. They have now received it and had a very nasty phone call from them today. Joy's of being a Landlord! As more and more private Landlord's exit the market what will Generation Rent and Shelter do next!!
From:
Andy Marshall
08 October 2022 23:55 PM
I doubt that they look at HMO's when they do this calculation. But what Kathryn said was spot on, when I bought my first house back in the 80's all my wages went on the mortgage as the rates increased, i think I had a mortgage rate of 15.6% in the third year of ownership. We lived off my then wife's wages and lived a very simple life for a couple of years until the rates came down.
From:
Andy Marshall
08 October 2022 23:48 PM
You are right in what you are saying, this situation should never have been allowed to happen, but I cannot blame the recent politicians alone, though I will be tempted to finger point at Biden. The leaders of the world fail to learn from history, and if one thing that can be learned is how war starts. With the drawdown of troops from Germany and the willingness of European countries to tie themselves so closely to Russia in a one sided deal, on energy, was naive to say the least. Yes I know hindsight is always the best view but our leaders are supposed to be the best of us and surround themselves with think tanks etc etc. If Trump was still the President I am not so sure that we would be in this position, it would have been one bully against another and I think Putin would have withdrawn his troops as USA would have mobilised under Trump. For me Boris has been outstanding in his understanding of the situation but was let down by Germany, France and the rest of NATO really. In my view we had to do something, otherwise Putin would have moved onto the next country. Failure to act is seen as weakness. Look at Chamberlin and his famous headline ' peace for our time'. It is one thing to threaten using a NUKE and altogether different to utilise one, plus it would also depend on the yield of said nuke, or tactical nuke as they are called now. Ukraine may need to be forced by the West to yield some of their country, if the West does not supply weapons ,then Ukraine will not be so victorious. They have to be persuaded that to continue the fight now could be disastrous for all. Best bide your time for another Russian leader whom could offer a different view. Plus Germany and France are both massively increasing their military budgets in order to be better prepared for the threat that never really went away. Hopefully we will have The Cold War part two and not WW3!
From:
Andy Marshall
08 October 2022 23:34 PM
Hi Steve, have just re-read your reply to the thread. Absolutely we will agree on far more than we would necessarily disagree on. Completely spot on about our sacrifices, and hard work often taking us away from our families and certainly curtailing our spending. Completely agree about insulating people from poor decisions and of course we have the 'I want it NOW brigade'. We have also been vilified by shelter and other organisations and then of course the media have stuck the boot in which has led to the politicians then trying to fix a problem that does not exist, apart from some rogue Landlords that the current laws seem too weak to properly deal with. Consequently life as a private Landlord is not so good, especially for those of us with mortgages.
From:
Andy Marshall
08 October 2022 23:07 PM
Hi Steve, thank you for your reply and I don't necessarily disagree with your analysis and maybe my choice of words are misleading but i stand with my sentiment of the points I was making. We cannot blame the government for everything. We can blame them for what they are doing to the PRS, I am shocked how little they understand the effect of their policies. I compare the UK with Europe. We have all been wrong footed by Putin, but we are in a better position than Europe. The green agenda and concerns over nuclear fuel has caused a lot of problems with investing in fuel in all our countries. Tax needs to be paid, unfortunately, we all know this. We hope it is done fairly. Section 24 is not fair. All Government's are subsidised energy, whichever way they have done it, it will need to be paid back. With regard your analysis on investments. My view is this, if I have a £2 million pound portfolio and my investment goes up by 3% that will dwarf the cost of living crisis which maybe at 12% but as the cost of living may only cost me 12% of £20,000. Overall as an investor I am better off, compared to someone whom is on welfare and that they have not had increases to cover the cost of living and certainly should not be cut further. That is notwithstanding shirkers whom maybe hiding behind welfare benefits, but that is another story. My analysis might be floored and definitely overly simplified, and my cash flow might be restricted, but my point is clear. This does not mean I disagree at your analysis it's probably that I view things differently. All the best to you.
From:
Andy Marshall
07 October 2022 09:59 AM
Another pointless government bashing (not that i'm pro government) anti UK drivel. By 26-7 there will have been 3 or 4 more budgets and who knows what changes there will be. A lot of European countries do not have a personal allowance and pay tax on all their money. The Government did well with capping energy prices and yes we will have to pay it back somehow. I hope they get it right and do take us out of recession. I'm not convinced they can and I am utterly appalled how they have messed up the PRS. But we've had a new leader in Government, whether you agree with it or not, and we need to see what they bring.
From:
Andy Marshall
07 October 2022 07:49 AM
Pointless article. The£ has allowed many a Brit to purchase property cheap overseas. The figures they are quoting are when the £ was at it's lowest, it has recovered a lot since then. When i bought my French house back in 2010 the euro was very strong. Shall I blame the government for that as well!
From:
Andy Marshall
06 October 2022 11:50 AM
I am in a similar problem John, and due to my age and that i am semi-retired I am finding it very difficult to re-mortgage. The other factor was that my rent's were too low. Thus far I have been lucky that I have had tenants give me notice and then I have sold, have 2 more going on sale this month. You need to do the math. If rates go to 6% base rate in the next 2 years can you afford the payments. Your only choice maybe to evict the tenants now whilst you can re-coup your costs!
From:
Andy Marshall
01 October 2022 15:05 PM
Jason I share your view on this article but your words reflect very badly on you. YOU are the reason that Landlord's now rarely try to help their tenants, though some of us still do. It is a fact that many more tenants get on with their private Landlord than have issues with them. In the latest findings it was polled that 87% of tenants were ok with their Landlord. I would suggest that you reflect on this, but that is not to say that in your experiences you are in the 13% of tenants. But the answer is simple find a better Landlord, the problem now though is once a tenant has a good Landlord, they stay. From this you may be able to work out therefore how Landlord's mindsets work.
From:
Andy Marshall
01 October 2022 14:58 PM
Too much personal debt is bad. Good business debt where money is generated is good. I don't think banks were lending so readily after 2008 when the interest rates were at an all time low, in which case properly stressed debt could not be easily obtained. If it was not for section 24 a base rate of 6% would not be a problem.
From:
Andy Marshall
30 September 2022 23:34 PM
Hi Edwin, like I said we all have a right to our opinion and life would be boring if we all thought the same. I used to be indifferent to the Royal's and certainly this institution has it's faults. But, there is not a better system, in my view, and i'd hate to have President and all the voting that would involve. They have headed so many institutions that have helped change so many life's for the better, on balance i believe they are an asset. I now find myself in a position that I have no idea where I am politically due to a poor opposition and a tory party that's a mess. In the past I have voted both red and blue. All the best to you.
From:
Andy Marshall
30 September 2022 23:29 PM
There is nothing wrong with debt or borrowing to fund a business. It needs to be thought through and stress test. If all good then should not be a problem. The situation for some Landlord's has been that Osbourne turned this on it's head when he introduced section 24. Seeing the danger I started to sell my properties, but only when a tenant gave notice. Covid has then brought it's own issues where tenants have accrued significant rent arrears which means that Landlord's have had to plug the gap. Unfortunately I now find myself in a position that I need to evict a tenant as they have not kept to our mutually agreed repayment plan and indeed have now missed 2 further rent payments. I am also selling 2 further properties that will be on the market next month. I do not consider myself to have built myself on debt but I can see if I do not take this action the unfair tax of my loan payments could cause me problems in the not too distant future. Other than my properties I have no other debt. Osbourne should have only been allowed to bring in Section 24 for new loans. This would have included re-mortgages. How can you stress test something that would be introduced halfway through your 25 year mortgage term. This is why I spout on about Government interference.
From:
Andy Marshall
30 September 2022 23:18 PM
Very good points Jo, we need a fundamental turnaround and a different mindset when it comes to looking at private Landlord's. I just don't think the Government understand that they have caused the problem. Until they realise this what chance do we have!!
From:
Andy Marshall
30 September 2022 09:05 AM
Edwin you are talking utter nonsense concerning the Royals., though every right to express and have an opinion. But why on this forum. Let's stick to the issue please.
From:
Andy Marshall
30 September 2022 09:01 AM
This is the Government's fault when we talk about housing. Lack of investment in social housing being the biggest fault. Then to make matters worse they turned on the private Landlord and created an unequal market. This resulted in a massive rent rise. Now due to this short sightedness and popular politics means that we are less robust to deal with the crisis that we find ourselves in. And yes the cost of living is down to Putin and coming out of Covid.
From:
Andy Marshall
30 September 2022 08:56 AM
It is a balance Gemma like any other business. This assumption that Landlord's are only interested in lining their pockets is a nonsense. 87% of tenants get on with their Landlord and enjoy where they live. As an industry that's not a bad figure.
From:
Andy Marshall
30 September 2022 08:53 AM
There are so many variables here it is difficult to predict. I would be confident in saying that a slow down is on the cards. One factor that is of concern for homeowners. They hold a lot more debt than their ancestors from the 1980's. I mention this as interest rates were in double figures then but there was less debt. Fewer credit cards, fewer lease deals on cars etc. Therefore a lower interest will have a greater effect on them. I have not looked into the cost of living cost back then as a percentage of earnings. Therefore if you do have a mortgage(s) on your BTL's then best run some figures to see what is affordable to you. I hope that the Government and Bank of England start lining up with each other otherwise the confidence in the market and the good ship UK will flounder and it will be on their shoulders. The UK is still a strong viable market place, all this shenanigans is on confidence currently, USA, China, Japan, Euro zone and Russia are all struggling, but they would appear to have more confidence from the IMF than we do, more UK bashing. Not a time to be an Ostrich!
From:
Andy Marshall
29 September 2022 22:59 PM
Another pointless story. Yes they could, it all depends on how the economy performs over the next 12 months. The Chancellor is thinking outside the box. The Economists don't like it as they apply lessons from history and say that this will not work, they could be right. But equally they could be wrong. We are in new territory now and it is difficult to see how this will go. We know that we have challenging times ahead and we know that the war in Ukraine is a major factor. The Chancellor is gambling by allowing the top earners to have money in their pockets that they will carrying on spending and buying. This will keep the tradesmen with enough work and the restaurants , distributers, etc etc. He is also trying to keep the companies doing the same by giving them better cash flow. It is a shame Landlord's aren't treated the same. But nobody knows what people will do and how they will react and if this will work. What I fail to understand is why massively increasing interest rates now will be a good thing. We know that we have to stay competitive with other currencies but by pushing us into a recession has surely got to be the worst outcome. I have no confidence in the Bank of England, they should never have allowed interest rates to get as low as they did. If they had been better at this then Osbourne surely would not have brought in Section 24, speculative I know. We shall see!
From:
Andy Marshall
29 September 2022 10:50 AM
It is the fact that paying tax on unearned income is the problem. This is semantics as some will argue that it is earned. But paying a loan for a business has never been taxed before to my knowledge. The Government have simply stated that we are investors and not a business, unless you go Limited. I had hoped to have paid down my debt further prior to these fast and furious interest rate rises. My solution is to sell 3 properties in next 6 months, but depending on the market i am seriously thinking of selling more as I cannot see an end to this endless legislation. I will be happy to have one possibly 2 properties left, mortgage free to top up my pensions.
From:
Andy Marshall
28 September 2022 12:34 PM
Hi James, I am in the same boat. I do have mortgages but in relation to the value of the properties I am very well leveraged, almost at 50% now. Section 24 will mean that at a base rate of 6% and with the tax at 40% on my mortgage payments I will almost be at the point of paying tenants to live in my property. This is not right. Another property goes on the market next month from my dwindling portfolio.
From:
Andy Marshall
28 September 2022 12:16 PM
Wow, and this is meant to be on the side of Landlord's. Like most professional Landlord's I have never exploited a tenant. If something goes wrong with one of my houses I expect the tenant to tell me in a timely manner and then I will rectify. PUNISH THE ROGUE LANDLORD'S NOT KEEP TRYING TO LEGISLATE. ROGUE LANDLORD'S WILL IGNORE ANY NEW LAWS AND YOUR PROFESSIONAL LANDLORD IS BEING DRIVEN OUT BY MUPPETS IN GOVERNMENT OR GOVERNMENT IN WAITING. I was slowly exiting this market and to keep a few properties that hopefully would be mortgage free. I am now seriously considering selling the lot as quickly as I can. There just seems to be no end to this onslaught against us!
From:
Andy Marshall
28 September 2022 11:49 AM
David this is one of the best post's I have seen on this forum. Well said.
From:
Andy Marshall
28 September 2022 11:25 AM
Paul Haynes, interesting point, be interested in how you justify this comment though!
From:
Andy Marshall
26 September 2022 19:23 PM
Article a bit wishy washy for me. Section 24 and the EPC crack down are the issues that are affecting me. Interest rises would not be a problem, as still very low, but add in 40% tax from section 24, then that is an issue. I sold one property last financial year, paid £18,000 CGT. If it had been in any other commodity that would have been nearer £10,000. Private Landlords are soft targets and though it in itself is not pushing me out of the market, it is not helping either.
From:
Andy Marshall
24 September 2022 13:51 PM
Same in Germany after 10 years, they then get taper relief.
From:
Andy Marshall
23 September 2022 20:07 PM
Ditto here as well, both with selling and putting up rents. Shame the new PM was not brave enough to get rid of section 24
From:
Andy Marshall
23 September 2022 18:34 PM
I'm with you two. The Government is clueless in this arena and I don't think the NRLA are much better. Section 24 needs to be scrapped. This will encourage Landlord's to invest again in property. in which case Landlord's will buy property, give tenants more options and choice which will make rents more competitive. As a Landlord I would sell off older properties but still buy a newer property with a better EPC, admittedly i'd probably have less properties but as it currently stands over time I will exit completely as with all the Government interference I have had enough and it is getting very challenging to show a profit. I am dreading what decision the Bank of England are going to make today. Another out of touch elitist group of individuals.
From:
Andy Marshall
22 September 2022 09:08 AM
Had some houses valued yesterday, when speaking with estate agents they all said that July and August had been considerably quiet with August being the quieter of the 2, however they both said that they have had a lot of enquiries in September though were keen to point out no where near as much as earlier in the year but i think that there was a frenzy for house ownership which demonstrated the pent up frustration for many buyers and that if you want that house you had to be bold and move quick, this is down to shortage of supply. Market seems to be much more relaxed now. I am putting a 3 bed detached on the market in Nottingham before the month is out. I have every confidence it will sell and for a good price....we will see!
From:
Andy Marshall
16 September 2022 09:25 AM
Well said Jo, bang on the money. I would add that CGT should be on par with other investments such as shares, why do we pay so much more...18% when shares are 10% and for the higher tax payer 20% shares and 28% on a house. Another punishment. Robert your observations on junk food and home made sandwiches and peoples priorities are very well made points. I don't think Jo is contentious over your second home as you clearly let it out as well as use it yourself. I believe the point she is making are those rich enough to have the luxury of buying a second home for their sole purpose and again the point she is making is on impact to local community and taxes. Thought provoking article.
From:
Andy Marshall
16 September 2022 09:11 AM
A Parliamentary Committee interviewed B of E Governor plus 2 senior committee members. They (B of E) revealed, based on August figures, that the energy costs due to Putin's war had increased inflation in the UK by 7%. They also suggested that a secondary pressure put on businesses accounted for a further 3% potentially. They expect these effects to start dwindling from the 4th quarter in 2024! Asked by the Interviewees what difference would putting interest rates up they answered that they would need to see full policy that Truss was rolling out but believed an increase in rates would bring this forward to the first quarter in 2024. It was pointed out then that an interest rate would only save a few months, in which case why put up interest rates and risk homeowners their homes, businesses going under, people losing their jobs and ultimately. tipping the UK into a recession! If they put up rates again sack the lot of them. Yes interest rates should never have been allowed to get this low, but now is the time to grow the economy for the benefit of all and not penalise homeowners, persons with loans and businesses. I live in hope.
From:
Andy Marshall
12 September 2022 10:20 AM
The selling of Council houses to the long term occupiers in my view was an inspired idea, however the execution of this idea was flawed. Within the contract should have been 'when the property was sold then the discount needs to be paid back to the Council, regardless of a time period'. I understand that this applied for 5 years though was not always enforced. Whatever the condition of the house these houses were sold at a discount, it was done to remove tax burdens from the government but also to give tenants an ability to have a choice of investing in their house and improve living conditions. It went wrong as a lot of these ex-tenants sold, especially around London for huge profit with no re-payment and the Councils instead of building new properties were incompetent. with their windfall and short sighted with their housing needs.
From:
Andy Marshall
09 September 2022 08:59 AM
Completely agree with you Jo, but we need our MP's to understand our views. I know fellow Landlord's say writing to your MP is a waste of time but it is the only route we have. Last time I saw an NRLA spokesperson being interviewed to represent us, they skirted around the big issues and were lack lustre in their delivery and quite frankly inadequate in summoning up the current situation.
From:
Andy Marshall
08 September 2022 12:02 PM
Absolutely, incentives for Landlord's to increase their portfolio's will create more choice and would bring down rents. Punitive tax measures and moronic policies on energy efficiency will not!
From:
Andy Marshall
08 September 2022 11:24 AM
I cant't disagree with you Simon, but I hope you are wrong. I have continually harassed my MP, in an appropriate way, to demonstrate the pitfalls of some of the Government policies. I have offered solutions and have also shown why Landlord's act in the way we do. A lot on this forum will say that i'm wasting my time, and again they could be right, but i'm stubborn and highly determined and it is extremely difficult to deflect me from a task I take on. I will keep pressing my point and hope someone will listen. I am in partnership with my tenants and though it is my plan to sell, like you, I am hoping this can be done when a tenant leaves. I have just had a tenant vacate in Nottingham and this property should be on the market before the end of this month.
From:
Andy Marshall
08 September 2022 11:22 AM
Article is nonsense. With the strong winds I have had to replace fencing on 5 of my properties, average price around £1200 and tat is with me doing it. Just replaced the last 5 windows on one property, £1500 and a brand new boiler last year in one house and another in this year, plus £600 worth of damp proofing, which again was carried out by yours truly. House maintenance, needs to be taken seriously and defo not botched. I do as much as I can myself though some would argue that it is not the most tax efficient. One problem I encounter when I get a trades person in is that often they do the job that is easiest for them and not which is best for the house. Modern apprenticeships........
From:
Andy Marshall
06 September 2022 09:58 AM
I had no intention of selling and wanted to pass onto my children. I have been on interest only mortgages, but have paid down some of my mortgages, but not enough. In hindsight I should have charged more rent, i guess. Therefore with the rising interest rates, even though still low, i'm getting close to break even point with the S24 tax swindle on some of my properties. I still work part time and also have my RAF pension. I am looking at selling 4-5 properties in next 6 months, then converting a large property into 3 flats, waiting for the lenders approval, and will go into my retirement with less properties but smaller mortgages. I fail to see how this has levelled up anybody's situation. I have good tenants that will have to move home and I will have less to pass onto my children. Therefore congrats to the government as i've been levelled.
From:
Andy Marshall
06 September 2022 09:49 AM
I did exactly the same Alison, plus we had the government requesting Landlord's to keep increases to a minimum due to Covid etc etc. Meanwhile the Government is working out ways to take more and more money from said Landlord's.
From:
Andy Marshall
02 September 2022 09:14 AM
This and the previous Government have caused this issue. The problem is it would probably be worse if the other lot get in! It clearly demonstrates how clueless politicians really are.
From:
Andy Marshall
02 September 2022 08:36 AM
Absolutely on the money Jo. Like you I had plans, but the Government keep moving the goal posts has made this virtually impossible to plan a strategy. This article is ill thought out and needed to look at the reasons that Landlord's had not made plans. That said there are individuals that make it up as they go along and this often works for them, though not for me.
From:
Andy Marshall
31 August 2022 09:30 AM
We are in uncharted waters, Government are looking inwards and the Bank of England are ineffective or will just put interest rates up until home owners do not have the funds to pay all their bills. If interest rates rise to much and forces homeowners to sell or go bankrupt then there could be a crash. I do believe that this is unlikely as rates are so low but in my opinion you'd be a fool not to see the possibility. Early days yet though>
From:
Andy Marshall
31 August 2022 09:22 AM
Is it only me! When tenants give me notice i find that they do not pay the last month's rent and instead sign over the deposit to me. I accept fair wear and tear and normally paint the house and fix any issues ready for the new tenants but also in order to get top dollar when I re-let. Evicted tenants, there is no chance that the deposit covers my costs and there is not point going after these people as they will do all they can to not pay!
From:
Andy Marshall
31 August 2022 09:08 AM
This site is getting very good at finding articles that state the bloody obvious! Government appear not to give a monkeys on the chaos that they are creating and it is without doubt to me that S24 is the main reason rents have gone ballistic. Existing private landlords are exiting the market due to S24 and other punishing legislation. It is still a good market for those with no mortgage, but for all those, like me, whom do, then it is time to exit.
From:
Andy Marshall
30 August 2022 09:35 AM
To both Mandy and Paul, I too write to my MP, and get replies, though not always what I want to hear. Can you give me the names of your MP so that I can send them to my MP in the hope that they cross notes. The larger the noise the better. My MP is in Maidstone and is called Helen Grant.
From:
Andy Marshall
17 August 2022 13:40 PM
Ditto to both comments above with exception modest rent increase last 2 years, but still way below market rates.
From:
Andy Marshall
16 August 2022 21:37 PM
Hi Paul I have read your comments with interest. Unfortunately a lot of the issues have been caused by section 24. This means that the mortgage payment the Landlord makes is taxed. This is the first time in history that a business has been taxed on a loan payment. This is the principal reason that rents have increased. A lot of Landlords still work, therefore the rental income soon puts a Landlord into the 40% tax bracket, however realistically the Landlord is not as he has to pay the lender the mortgage amount. So, for a £500 mortgage the Landlord will have to pay £200 in tax making a total of £700. The rent may only be £795, when you take off maintenance, gas safety, epc etc you can see why rents have gone up. I can see now that I was too slow to put my rents up. I thought with interest rates being so low that it would be greedy of me to put up rents too soon. I was wrong. I am now having to sell in order to keep my balance sheet in the black. In one property, with the latest hike it will cost me £50 a month to let the tenant stay, how is that for madness and I can assure you that this is the truth of the matter. With house prices being so strong I will be able to use the equity to pay back some of the buy to let mortgages and I will stay loyal to tenants that have been with me the longest and looked after my property. Reality is that this government has let us all down with their short term thinking, I am sure if any other party was in it would be no different. In my younger days I rented and know the problems this entailed. I hope that you get your self sorted with a new property, but simply saying it is the fault of Landlords is too simplistic. Yes you are probably right that some Landlords are greedy but i don't think it is a high percentage. Some are led by over enthusiastic letting agents but in the main most of us are hard working decent individuals. Best of luck
From:
Andy Marshall
16 August 2022 08:54 AM
In reality interest rates are still historically low and is not causing any real issues for experienced and well planned Landlord's. HOWEVER, tinkering from the Government with the S24 has made the difference. Even with a modest portfolio this virtually wipes out any profit for a Landlord with a mortgage when you take into consideration maintenance costs. Section 24 needs to be rescinded. In my particular circumstance my portfolio will be halved at least in order to clear or significantly reduce my mortgages. Currently I stand just under 60% loan to value on my properties. In addition I am having to increase my rent, as I will again next year. Very disappointed in this Tory Government in this and many other areas.
From:
Andy Marshall
16 August 2022 08:27 AM
Excellent news, you don't know how happy I am that my S24 money is being so well spent. I can't sell quick enough....which is a shame as I like and get on well with nearly all my tenants.
From:
Andy Marshall
16 August 2022 08:13 AM
A bit harsh Gathani. I have tenants from several nationalities including Romanians. I have found the eastern block countries, in general, to have looked after my properties extremely well. I have had more issues with English tenants in general. First impressions do count. With regard to the Embassy situation, clearly only agree in writing, though this does look to be extremely poor behaviour by a representative of the Romanian government .
From:
Andy Marshall
13 August 2022 09:57 AM
This is what happened to me. Was told all rents had to go up by £50. However, this was after the first interest rate rise. I know they have removed the pressure test but i've now decided to keep selling and will re-look at this when I have sold 4-5 houses. One sold already and another one will come on the market in about 3 months. Waiting for tenant to leave and then redec etc before getting the for sale sign up.
From:
Andy Marshall
12 August 2022 14:50 PM
Interesting, I have one house in Catton, one of the RAF married quarters. It will be going on sale early next year as I massively reduce my loan to value over the next 2 years, not that it is bad, currently sit at 58% but want it to be in the twenties.
From:
Andy Marshall
12 August 2022 14:47 PM
I am the same as you Emily with rents and tenants whom been with me for years. My newest tenancies were in 2018 and my oldest tenancy was in 2002.
From:
Andy Marshall
12 August 2022 14:43 PM
So many are hiding behind the green agenda, when all they want to do in reality is stiff the home owner for as much as they can. We've seen it with double glazing, where it was called 'white gold' and then solar panels. Now it is going to be insulation etc. If the government really want to improve our older housing stock they should give some easily accessible grants. But i guess that would be too simple!
From:
Andy Marshall
08 August 2022 10:32 AM
I've been asking the same question to brokers and estate agents. They told me that landlords were still buying. I replied that they must be a Limited Company as currently it's the only way that makes sense unless you're a cash buyer or it's you first btl. One estate agent then told me that it is an individual that's buying and then after further questions from me he said yes he does it through a company name!! Priceless. Brokers have said it is Limited companies in the main.
From:
Andy Marshall
07 August 2022 17:09 PM
Absolutely agree, sold my first house earlier this year, second one will be on the market by the end of the year. In both instances tenants gave me notice. I have a one house where tenants are in 3 months arrears due to Covid, and then without reason have not paid rent in June nor July. Section 21 will be on it's way and this house will then be put up for sale. A big change to the white paper and abolish Section 24 will make me turn my head, but nothing less will.
From:
Andy Marshall
07 August 2022 10:05 AM
Hi Jo, nice comment. I have only had bad experiences in this arena but like to keep an open mind. If Council's are willing to work closely with Landlord's that would be a start. I did look into this in Bedford with tenants coming out from London. When the Council told me that I could not visit my property and I could not choose the tenant then I told them to forget it. Pleased that is is working for you and show's that all Council's are not incompetent!
From:
Andy Marshall
05 August 2022 09:52 AM
I don't think we can compare the world to how it was 100 years ago, and in my humble opinion it is a mistake to do this. The causes of this inflation has very little to do with decisions made by the current Government, unless you include not putting more military assets around Ukraine after the Crimean incursions, though this would be a NATO issue more than just one Government. Yes Brexit has had an impact as has Covid. Putin and his cronies though are the biggest cause, again IMHO. I just hope that China can see how hard it is for Russia and do not fall into the same folly over Taiwan. It is not right that hard working people are going to be put into financial problems as they wished to own their castle. Government tinkering, through short term thinking is a major cause here. With regard to Landlord's, i don't think any of us are concerned at the current rate. The issue is Section 24. For us whom planned our 25 year loans and then have been hit by the 4 year roll in with section 24, to me, proves the point. As previously stated the pressure test then prevented me from re-mortgaging, as i'm sure it did others. My rents were too low, we even had the Government request that Landlord's show restraint in putting up rents, clearly they don't see the big picture of their decisions. With my plans for the future, I have no doubt that I will not be as comfortable as I had hoped for my retirement nor pass on as much as i would like to my children due to the current situation, as the only way I can respond is to sell and in time increase rents. I don't believe it is a major issue currently for Landlord's that have been in this game for a decade or more, but those newer to this business may be in for a rocky road and certainly less profit. I started out in this business in the very early 90's and I am now fortunate to have a lot of equity in my properties. I expect to reduce to a third of my portfolio that I had in 2018 in the next 2-3 years with most of the sell off in the next 18 months. I believe other Landlord's ,like myself, will come to the same conclusion or have thought out their own plan, as in becoming a Limited Company. Good luck to all.
From:
Andy Marshall
05 August 2022 09:36 AM
Well i disagree with comments above. It is a non story clearly if it does not effect you. However, thousands have been affected by the mortgage pressure test. This stopped people from being able to get these lucrative deals, including me. Conveniently they removed this pressure test a few days ago, and i will look into it again. The damage has been done though as rates are 1% above when i last looked at re-mortgaging. Therefore more to be paid under section 24, which really needs to be scrapped now. This is the problem with these low rates, it is the 40% tax that you pay on the mortgage payment that you do not receive. Rents will only go higher and more Landlords will sell when the fixed rate deal ends. Clearly for Landlord's whom have either no mortgage or very small mortgages this is a mute point.
From:
Andy Marshall
04 August 2022 18:59 PM
Very succinctly put Michael.....a lot of truth in what you have observed.
From:
Andy Marshall
04 August 2022 10:13 AM
This is not a Police matter. The only way the Police can get involved is if the Council employees have been threatened by said Landlord. I would be very interested to know the standard of accommodation and how the tenants feel about their Landlord and view their accommodation. This article is biased. In very few cases, in my opinion, is licensing used to improve conditions etc. It is a money grabbing exercise by Councils and Government. I'm glad I changed my 5 HMO properties to family lets. Life is so much easier. Of course Councils are now scratching their heads over lack of accommodation. I had 35 happy tenants in my HMO's. They needed to find somewhere else to rent. I've always thought the saying those that can do; and those who can't teach was a little unfair.....I think end up in local Government more apt, but not as catchy though.
From:
Andy Marshall
04 August 2022 10:06 AM
Grumpy Dog, absolutely spot on.
From:
Andy Marshall
02 August 2022 18:53 PM
You have summed up the problem very succinctly, well done
From:
Andy Marshall
02 August 2022 18:43 PM
As a Landlord whom is selling, this for a change is positive news. I understand comments on inflation but all is relative. My budget for fuel, food and heating is a lot less than a house that is worth £250,000. Therefore in real terms for me this is an increase. That said it's not the reason i'm selling. Government continued interference and i might add non-sensical interference is to blame, especially with section 24 but also having digested that white paper on housing reform.....well ! Overall I think it will be healthy for the housing market to slow down as this will help to stabilise the market, but with Bank of England changing the pressure test is going to increase demand again i'm sure. This just goes to show that they should not tinker!
From:
Andy Marshall
02 August 2022 11:37 AM
You can't make it up, are these people jealous that they have to continually tinker with private landlords. I'm not against this particular change, currently don't know enough either way, it's just that it is an extra change that will be time consuming and may end with higher costs. It is particularly annoying as like several of you have already stated what we do works. Surely it would make sense to bring this change in with a higher threshold. I cannot believe that Landlords whom have an income of £10,000 will make much difference to the 34 billion black hole. Start the threshold at £100,000 grand and monitor. I'm sick of all this muppetry! At least I have the footie to look forward to this afternoon, I hope we stuff the Germans, fingers crossed
From:
Andy Marshall
31 July 2022 11:10 AM
Wow, just finished that dross that is dressed up as a white paper. I have NO doubt in my mind as it stands now when a tenant gives me notice I will sell that property. This is a new form of communism and the state way over stepping the mark!
From:
Andy Marshall
29 July 2022 12:11 PM
I agree with all that you have said Sue, there is room for all. After all there are hotels that don't allow pets and children. I am now going to set time aside to read this paperwork through the NRLA, i wont be shy about giving my opinion but will restrain myself on the language i use. Do I feel it will make a difference...not really....but i live in hope
From:
Andy Marshall
29 July 2022 11:35 AM
I too tried this with my tenants a few years ago, though a more modest portfolio. Nobody took up my offer and were happy to stay as tenants. Last year one moved, I therefore sold that property. Again I have another tenant whom is leaving at the end of the month and I can sell that one too. I am only selling due to these unfair and ill thought out policies. Plus like these 2 Landlord's my rents are below market value, though last 2 years I have increased them, but only modestly. Articles like this just demonstrate that idiots are still employable. However, where are the voices in Landlord organisations that are speaking for us. On the news a couple of weeks ago there was an NRLA representative whom tried to explain why rents were increasing, Landlord's were leaving the market and the concerns of the EPC legislation. He made some of these points but not with the right language. It was like listening to Enid Blyton on Jackanory!! We needed terms like persecuted, demoralised, feared for our business, frustrated at being demonised especially in light of a survey that stated most tenants get on well with their Landlord's. Government need to but the hell out (was not allowed to spell with 2 t's as deemed a swear word, how mad is that!) as their interference has caused misery for tenants and Landlord's alike. It's all bonkers!!!
From:
Andy Marshall
29 July 2022 11:29 AM
I was in a meeting like this, mainly to do with HMO's. My experience was very similar to that which you had last night. I also walked out. Problem is we have no effective voice and whilst that remains the status quo we will not be heard
From:
Andy Marshall
26 July 2022 16:40 PM
INTEREST RATES AT 2.0% ARE NOT THE PROBLEM. THE UNFAIR TAX OF SECTION 24 IS THE ISSUE. IT NEEDS TO BE AXED NOW, OR LANDLORDS WILL LEAVE THIS MARKET IN DROVES
From:
Andy Marshall
20 July 2022 19:50 PM
Don't do it. You cannot visit your property and you have no control whom moves in. I looked into this, showed a staff member my property, she said that it was acceptable and was happy to proceed. I replied, I need to make good all the problem areas, replied not it was fine. Ok, i'll make the repairs when the tenant moves in. No , will not be your responsibility, as will be Council ran. What about 3 monthly inspections, certainly to begin with. No, not going to happen was the reply. I did not proceed!
From:
Andy Marshall
07 July 2022 11:38 AM
Talk about history repeating! Tories have imploded yet again. Boris has to go, not sure if that is good or bad. I will hold judgement until I know whom replaces him. Fortunately, there is a Kinnockesque leader in the other party so this will not be a concern for the tories. Shame really. The only winners in this sham will be the media....we may even get an opinion or 2 from them with their army of experts!!
From:
Andy Marshall
07 July 2022 11:32 AM
Thanks for the advice David, i'll invite an assessor over whilst doing the work. An extra £60 for their time will be much cheaper than the labour I would pay for an accredited contractor. I've just been quoted £22,000 to get a 4-bed house externally insulated, I believe I will get change from £5,000 if I do it myself!
From:
Andy Marshall
06 July 2022 19:57 PM
Well said Jo. Work with your assessor whom knows what needs to be done cost effectively to ensure an EPC of a C. Some of these other recommendations are madness, floor insulation for starters. Heat rises, as if to give you a clue!
From:
Andy Marshall
06 July 2022 12:27 PM
It makes sense, i'm trying to sell off older properties for obvious reasons, but would rather sell when someone leaves rather than evict anyone. Currently all my tenants are long term and have been great tenants, i've explained that I will need to keep putting the rent up each year and that I will be selling at least 3 properties. Due to the strong house market I have made good profit on these houses over the years and will drastically reduce my debt when sold. I will then re-evaluate what to do next. I would like to remain in the market for pension and to pass on to my children, time will tell! I'm also exploring doing exterior insulation myself. I have in the main carried out work on my properties, so this is not such a stretch for myself, otherwise costs are prohibitive.
From:
Andy Marshall
06 July 2022 12:22 PM
What is wrong with a fifty year mortgage! I daresay i will be paying mortgages for this term. I agree with Jo's comments, don't demonise the rental/tenant market. I have rented, I am now a Landlord. As a Landlord I have also rented, where I have had to re-locate. There are many options why people do rent or decide to buy. For most of us to buy that first house takes planning and sacrifice. I bought in late 80's and with interest of 15.6% it took all my wages and a week's worth of my partners. We lived very simply for 3 years until rates came down. We did not have help to buy and other schemes that this Government are stupidly looking to introduce. I do welcome back 5% deposit mortgages though, as for an average property that is still a lot of money. With low interest rates it is still a good time to buy, though I would advise any buyer to over pay as much as they can reasonably afford as rates will only be going up.
From:
Andy Marshall
06 July 2022 10:34 AM
Absolutely, another tenant has given me notice. They have found a replacement tenant for me, this shows the shortage of rental properties! However, I've told them to give my apologies but this house will be going on sale. It is a 2007 built detached home in Nottingham, no concerns with EPC's on this one, but I am reducing my portfolio to be mortgage free. It is the only way to stay in this business, in my opinion! Good luck to all.
From:
Andy Marshall
06 July 2022 10:19 AM
Well get ready for a massive sell off, in my opinion. Regrettably, I will look to investing in properties overseas where the government welcome investment. I would highly recommend ur home countries to look at this with a balanced view and not in a way that demonises those whom wish to invest in their country.
From:
Andy Marshall
06 July 2022 09:32 AM
This article does not make sense to me. In the past I have not put rents up due to low interest rates. Section 24 in the third year saw me for the first time put up rents by around 2%. This year and last year I am putting rents up by around 5%, due to Section 24 and rising interest rates. I can only see me continuing to do this. I will be the first to admit that my rents are behind the average, but it will level out over the longterm for the properties that I keep.
From:
Andy Marshall
05 July 2022 13:24 PM
I'm with Simon on this topic. Another tenant has just given me notice, they are returning to their own country, Romania. They have been good tenants , though built up a 2 month arrears during the covid pandemic. They have been making overpayments to catch up of an affordable £25 pcm. Any money owed at the end I will write off. That said I am glad that they have given me notice as I can sell another house, without having to do an eviction. This is not because of the appreciation of the asset but because of interference and unreasonable interference from Government. I have been a Landlord since 1990 and have thought that I could pass this onto my children as well as being a Pension now as I approach retirement age. This may still be an option but I will continue selling at least one a year because of Section 24. The full effects of Section 24 will be seen in the future when these corporations have cornered the market and monopolise it. So much for fair competition.
From:
Andy Marshall
05 July 2022 13:19 PM
Well said Andy, thus far I have been able to sell when a tenant has left, unfortunately this will change and it gives me no pleasure doing this but with increasing interest rates and no incentives from central government it is time for me to look elsewhere for better investments, even if this means overseas!
From:
Andy Marshall
01 July 2022 14:01 PM
Interesting analogy, a quick reckoner shows that my properties have matched beer inflation. Cheers!
From:
Andy Marshall
01 July 2022 13:52 PM
Exactly, knee jerk reaction to rogue landlords whom will continue to flout the law. I would be interested in the above figures which were deemed unsafe and which were not to current standards. With the new 18th addition I am now replacing fuse boxes in outbuildings that need to be metal and not plastic! More money making schemes for these poor electricians.
From:
Andy Marshall
24 June 2022 11:41 AM
The 'writing has been on the wall' for sometime now. Yes we don't have a strong enough voice and yes these changes are not for our benefit. Corporations will come in and take a bigger slice of the rental market, we as private Landlords, well those that remain, will have to pick our tenants very very carefully. I will stay in the market but will sell until mortgage free as otherwise with increasing interest rates and higher costs due to the incessant tinkering of this government I could be exposed and suffer financial problems i would rather avoid. Like many here I do not understand the angle that the Government insist on taking to improve the situation. For a long time now we have seen knee jerk reactions to rogue Landlords. Most of us are not inclined this way and run our business in partnership with our tenants and no its not fifty-fifty but a partnership nonetheless. I believe in a survey most tenants reported that they have a good relationship with their Landlord. Good luck to all!
From:
Andy Marshall
24 June 2022 11:36 AM
This is partly another distraction from this Government, not that I mind this as the media have bled to death the partygate situation. The PM was trying to directly aim the benefits that working families have and instead of paying money to Landlords he intends to pay it towards the individuals house. I could agree with this as long as the percentage paid by us the taxpayer is returned when the house is sold. Otherwise all that have saved and scrimped and never made a claim will be seriously dis-advantaged as well as highly miffed. The one thing that I take from listening to him yesterday is that it is time to sell off my portfolio!
From:
Andy Marshall
10 June 2022 17:32 PM
I think a lot of us have been in this situation Karen, as Andrew has said been there and got the T-Shirt. Lesson learnt!
From:
Andy Marshall
25 March 2022 11:11 AM
Well said Karen, I am in exactly the same situation. We've also had to budget with the electrical inspections that have come in and now insulation in the future. The Government definitely need to re-think the section 24 as I am putting my rents up. That said i'm not doing it by 10% as is written above!! Plus i'm also selling. I have also looked at fixing mortgage deals on some properties for 2/3 and 5 years. I was pleasantly surprised to see some very good deals out there. Tough times need careful planning!
From:
Andy Marshall
25 March 2022 11:10 AM
Thanks for the chuckle, but it is mad how some people really believe that Landlords are so unscrupulous as a profession! We've already had a report that the majority of tenants get on with their Landlord. I guess it's gonna be the same old story...
From:
Andy Marshall
21 March 2022 09:08 AM
This is a personal choice. I will help as a Landlord to assist the Ukrainians. I served in Iraq, Bosnia and Kosovo. Seeing death and mutilation first hand, especially children never leaves you. In agreement with comment above the UN need to go in as peace keepers, we cannot be scared of Putin. We went in originally as peace keepers to Bosnia under the umbrella of UN. We could only return fire if we came under attack and would have to dis-engage as soon as hostilities stopped. I just hope that the Russian people can rise up against Putin and his cronies.
From:
Andy Marshall
01 March 2022 10:33 AM
This is hard to believe. I'm wondering if some Landlords have changed their business plan and have now become a Limited Company. The larger portfolio Landlords would benefit from this and I understand that a limited partnership was the recommended route, though not without complications. I guess also all the converted office space that are now residential flats may come into this equation! Not for me though.
From:
Andy Marshall
11 February 2022 09:33 AM
Like you Simon I accept the CGT. Plus with the personal allowance added it is not 28% of the total profit.
From:
Andy Marshall
10 February 2022 08:49 AM
Statistics only prove, in the main, that which the author wishes to prove. IMO private Landlords are selling and not buying. I complete on my first sale this Friday and I have another one for sale already. Another Landlord whom I personally know has already sold 2 and like me he has one for sale for the new financial year. And a good friend of mine he has sold his last property in UK, apart from his own residence, as he has invested in property in Germany. I do not intend to fully exit the market but I do intend to sell property so that I have either very small mortgages or zero mortgages and the principle driver for this is Section 24 for me. With interest rates going up, I will pay the lenders more money and then be taxed on this resulting in less money for me to maintain the property and ultimately have left over from my investment. When I speak to estate agents all I hear is that other Landlord's are also getting properties valued in order to sell. This does not mean that others are not buying! But it does make me believe that many Landlords are selling. When a tenant gives notice a for sale sign goes up.
From:
Andy Marshall
10 February 2022 08:45 AM
As soon as the builders realise what they can get away with they will run rings round the Council. A lot of these Council staff will have no experience in this arena and will be manipulated and exploited. Lambs to the slaughter comes to mind!
From:
Andy Marshall
07 February 2022 09:51 AM
I've had dealings with 7 Council's where I have properties. Just one has been helpful, proactive and has shown real knowledge on dealing with issues that I have had. Of these hundreds of empty houses how many are being sold? Lastly, now Landlords are being asked to bale out incompetent Councils. You cannot make it up!
From:
Andy Marshall
04 February 2022 10:36 AM
The Government must resist the jealousy tax. We already now pay tax on money we do not receive as an income, namely the mortgage cost minus 20%. This effects Landlords with mortgages whom now potentially have more income in the 40% tax bracket. Maybe the government should focus on ensuring that the largest companies are paying their fair share of tax, Amazon, Facebook etc. Lastly, what about other investments. Why not bring them in line with property CGT. This would be levelling up surely!
From:
Andy Marshall
04 February 2022 10:17 AM
Hi John, I have to disagree. S21 is a very useful tool and an uncomplicated way to remove problem tenants. If they beef up other sections in order to make it simpler to evict problem tenants, then that is fine, but politics that put the cart in front of the horse is very poor. I understand your point on long term investing, but what about the Landlord whom has done this and now wishes to retire. Where is the legislation to allow him to sell. This needs to be closely monitored. Not so sure that Landlords here don't factor in repairs and maintenance, but of course they exist. Adequately funded, love to know how that is worked out. In 2008 I had 8 tenants give no notice that they were either moving out and not paying as had lost their jobs. I agree with your sentiment but you just don't know what is round the corner. Just to add, when I first bought a house in late 80's interest rates were at 15.6%. Not sure whom could survive a repeat of that scenario.
From:
Andy Marshall
02 February 2022 18:10 PM
I'm in the same boat as you Stephen. I am looking at reducing my planned increases due to the energy spike. I have all but sold one property and will be selling 2 in the next financial year. I will then evaluate, though I can see that it is likely I will sell more and ultimately exit this market.
From:
Andy Marshall
18 January 2022 10:28 AM
The report is probably correct in some areas, cost of rent. As has been mentioned costs have spiralled for Landlords and these have been passed on to reflect a rise in rent. The Government were warned of this and have failed to take on board the cause and effect of the Section 24 tax amendment. In addition to this licensing, Electrical checks and more regulation have caused even more rent rises. I have just had my tax bill for the last financial year and it is madness the tax i am paying. Another house will go on the market in the new financial year and this will continue from my point of view over the next 2-3 years. Government need to wake up to the fact that they are causing most of the rent rises.
From:
Andy Marshall
12 January 2022 16:59 PM
Hi Don your view and experience is the same as mine. Obviously, not all, but the vast majority of my tenants I have had good relationship.
From:
Andy Marshall
06 January 2022 16:47 PM
Very good comment Michael, whole heartedly agree. I would add that it is the rogue Landlords whom are creating the headlines and to the non-tenants whom deal in this industry tend to lump us altogether. Like you I get on very well with my tenants and ensure that I keep my homes in very good order for them.
From:
Andy Marshall
06 January 2022 16:44 PM
It is all about balance. We need more people in work, including migrants already in this country (off load the ones whom don't want to work or break our laws) and less not wanting to work. We need more private Landlords, which will drive down rental prices and more Government spending on Schools , Dr Surgeries and Hospitals and training and incentive packages to staff them. I hate to use the excuse of Covid, but this Government have had to be reactionary to a world wide pandemic and too many cooks are spoiling the broth. I hope that in the coming months we can have a some sensible solutions to our changing environments. This Government to make a sensible stand on insulation would be a good start. It is a no brainer that we need to insulate our properties that leak heat and to me other sources of power need to be fully exploited to reduce pollution and improve air quality. Good quality, safely built properties are the key. Not to see how property can be subsidised so that everyone can have a new car every year or 2 and luxury holidays 2-3 times a year!
From:
Andy Marshall
04 January 2022 14:10 PM
Absolutely agree, where is our voice. Interest rates will rise this year and as they impact on us all, whom have mortgaged buy-to-let properties, we will still need to pay the Section 24 tax bill. Again, reluctantly I will be putting up my rents.
From:
Andy Marshall
31 December 2021 11:14 AM
I was a member but do not feel they really represent my views now, Saul sums it up well above. I would say though that their advice line has been useful to me in the past. Highly impressed by this article....but where is our voice.
From:
Andy Marshall
25 December 2021 21:19 PM
I have done exactly the same, though with a more modest 3 bed end terrace, EPC band D and has had new UPVC windows and boiler in last 5 years. I should complete my sale in January. Good news though is the strong market. Sold on first week of being on the market and I had a bidding war with 3 buyers whom wanted this house.
From:
Andy Marshall
20 December 2021 11:10 AM
I'm with you on this. The Government have raided our industry too much already. I'm happy to do my part for the environment, indeed I actively support it. The key is that it needs to be affordable and it needs to be ALL homes, not just private rentals. And as for £5-10k per property, then interest free loans and or grants will need to be the order of the day.
From:
Andy Marshall
20 December 2021 11:06 AM
I'm glad that you both have had good agents and I have no doubt that there are good ones out there. In my experience they are very hard to find, though in fairness I have seen improvement over the years. First let a property in 1991.
From:
Andy Marshall
09 December 2021 12:03 PM
Having been a victim of this myself many years ago I am now better equipped to make sure this does not happen to me again. Credit checks etc are not effective measures against this crime, in fact when this happened to me a Chief Constable, also a Landlord, was a topic of an article in the Telegraph I believe. Like me he had all the references and checks but criminal gangs are expert at bypassing this and he too had a cannabis factory in his property. My advice, firstly ensure that your insurance covers this including loss of rent. I did and a bill of almost £35,000 to remedy the damage to my house and loss of rent fell to the insurance company. Secondly, whether you self manage or have agents, visit the property in the early stages to ensure all adds up. I normally do this but this property is a significant distance from me and each time I popped in nobody was at home and when I tried to arrange a visit they were always away. I am now more persistent, though not to the point of over stepping boundaries. Check information given to you. Write a letter to any addresses, you can forge an email account harder to change an address. Recently I have had an issue, wrote to the address given as a reference, they phoned me back to say that they knew nothing about renting a property and were very concerned at the contents of my letter. The Police have been informed and I would be very interested if anyone has had dealings with Round Trading Ltd based in Covent Garden. Lastly if something is unusual then put your guard up, 6 months rent up front is unusual and I would be suspicious. The Police are under funded and I am not sure that they will take this crime as a high priority so its down to us to be vigilant.
From:
Andy Marshall
06 December 2021 10:15 AM
Hi Jim, 100 properties, let alone HMO's. Good for you. I managed 5/6 HMO's at one time, looking after circa 33-37 tenants. It was not easy! I completely get what you are saying, energy bills was one of the big issues that I had. I am an optimist by heart and will keep an open mind that the government will see sense and that the associations stop being lap dogs. That said, being a realist also I will take the necessary steps to safeguard my more modest portfolio. Regards, Andy
From:
Andy Marshall
11 November 2021 23:07 PM
Where are the Landlord bodies whom should be collating our experiences and demanding an urgent overhaul of the EPC system. Any changes to legislation should wait until clearly identified energy saving measures are proven to work. All of us, IMO, would be happy to improve our properties, none of us like to spend hard earned money on ineffective measures to get a tick in the box. I am selling a property now and will sell 2 next year. I am doing this to re-balance my property value to loan value to protect from interest rate rises, but obviously I am trying to sell properties that are poorly insulated. Incidentally all estate agents have commented that insulation is a buzz word for new buyers. Interesting as this may now be another factor in valuing a house, time will tell. Due to a lack of rental properties EPC's do not seem to come into this equation. Therefore the Government trying to change the rental market, could be effecting property values for purchasers!! Obviously this has just been my experience on 3 houses, one in Kent and 2 in Bedford. Thought i'd share.
From:
Andy Marshall
11 November 2021 10:07 AM
We need to adapt to the changes around us and we cannot be Ostriches. That said these new schemes have to be effective, affordable and good for the environment. Air source heat pumps will work for new houses but they are not strong enough to do the older houses. You will need a huge amount of insulation and larger radiators. However, a ground source heat pump is capable of heating an older house. Problem is that most of us do not have a large enough garden. I would therefore suggest looking into communal ground source heat pumps. A lot of older houses have larger gardens. Combined this may be enough to look at putting in a ground source heat pump with the added advantage of a shared cost. I believe that lateral thinking along these lines, though will not fix all issues, will be accessible to many.
From:
Andy Marshall
19 October 2021 12:01 PM
Comments above interesting and informative. Personally I don't see the point of them and having read the above even less likely to get one. That said if a tenant wants one I have no objections, but it is their choice.
From:
Andy Marshall
19 October 2021 09:39 AM
You are both completely right, however as an ex-Serviceman that was posted overseas and around this country I bought run down houses near to where I lived at the time and restored them and then let. Since 2007 I have been a civy and it has been my intention to sell the furthest and consolidate my mortgages. Through life's challenges I am at last doing that now. We don't know why he has a house in Oldham. Though you are both right in your sentiments.
From:
Andy Marshall
18 October 2021 21:42 PM
What a surprise, another biased story. Look, any Landlord not carrying out his legal obligations needs to be asked to rectify the problem. If this fails then they need to be told and finally prosecuted if not actioned. No bins at the property is the tenants responsibility and the Council's. Surely if the Council inspected surely they could talk to another department to expedite bins to be delivered to this address and ask the tenant why they did not order replacement bins themselves. With regard the meter, this must have been all good when property licensed and first let, so how did it become dangerous. In either case the Landlord should have contacted the supplier of electricity at this property to look into this matter and make safe the meter. This is a shared responsibility with the provider. But of course this is all the fault of the Landlord. Probably another Landlord whom will now sell up and who can bleme them!
From:
Andy Marshall
18 October 2021 10:00 AM
What a muppet. I'll tell you what John, you compare my rent increases over the last 15 years to the wage increase that MP's have had over the same period. I have no doubt which would show better value.
From:
Andy Marshall
18 October 2021 09:47 AM
In my recent survey 9 out of 10 Landlords think Shelter is an incompetent organisation. Most Landlords , in my experience believe that Shelter needs to re-think its strategy and possibly work with tenants to educate them how to look after a property to avoid mould and other issues. However, that would mean that they would have to walk away from their computers and do some real work and investigations.
From:
Andy Marshall
14 October 2021 07:08 AM
Completely agree, as a hands on Landlord I provide the same service. Plus over the years I have built good relationship with trades persons for the jobs i cannot do, e.g Gas and electric. I have always maintained that a good Landlord has a good partnership with their tenant. Like Mr Townsend i will leave the sector totally if we keep getting penalised and it is not something that i want to do either.
From:
Andy Marshall
13 October 2021 11:04 AM
HMO's require constant management, hence I left this sector. Completely agree that tenants can undermine any improvements. Even had one tenant re-set the thermostat so it looked on 20 degrees but actually on 30 degrees. Constant wet washing in rooms causing high levels of moisture which then gives mould, despite me supplying a large tumble drier. Money was good but I gave up and returned them to family lets, though I still have issues with mould in one property as they insist on having there wet washing drying in the house all the time and never open windows in the colder months. Previously never had issues in that house. Other than that they were lovely tenants.
From:
Andy Marshall
13 October 2021 10:45 AM
Thanks for your reply, the longer warranties make sense. A plumber I used was singing the virtues of Potterton with their 10 year warranty. I guess things improve, e.g. Fiat only use galvanised panels on weak spots in their cars after the disaster years of having rot boxes in this country. Yes I had a property cladded for free, cladding was only 20mm thick but looked much better when all finished. Tenants felt it did make a small difference, but who knows. I'm looking at 100mm. And again the property will benefit from looking better for curb appeal. As I am selling almost half my portfolio this is also important to me. Aim to be mortgage free in 4-6 years. Appreciate your input.
From:
Andy Marshall
13 October 2021 10:38 AM
Hi Jim, interesting comments with regard insulation. I will focus on one property and see what the results are. Did you ever have external insulation fitted? With regard boilers the only one that I will ever have fitted now are Vaillant boilers. I have had 7 fitted, first in 2013. None have caused me any issues. Prior to that I had Chaffateaux, Ideal and Potterton boilers. They all kept British Gas very busy! I no longer have any HMO's but fully understand your move into pre-paid meters. I was looking at doing the same but due to Councils imposing ridiculous rules I withdrew from this type of letting.
From:
Andy Marshall
12 October 2021 23:26 PM
Hi Terry Sullivan, you state watch out for severe damp, grateful if you could expand on this. Thanks
From:
Andy Marshall
12 October 2021 23:14 PM
All this analysis by back room academics is all very well, however, in the real world the differences are not so impressive. I replaced 2 boilers in HMO's I owned. Obviously I paid all bills. I never noticed a change in my bills. I have also changed a boiler in my own property, the one previous to the one I currently live. The difference in bills over the following winter was tiny. I will be putting external insulation on 2 of my properties, I will be doing this myself. As well as putting in cavity wall insulation, apparently it only works effectively if you do both! I will be doing this to my own house, once I have upgraded these 2 older properties. I hope this massive effort and expense that I will be going to returns good results, time will tell.
From:
Andy Marshall
11 October 2021 14:17 PM
There are good and bad in all walks of life. I understand your point that sometimes it feels and maybe is a waste of time to write. But what other choice is there. I just hope that a balanced argument that I provide does not always fall on deaf ears.
From:
Andy Marshall
05 October 2021 11:05 AM
We all have a voice. I hope that fellow Landlords like myself write to their local MP. Trying to get them to understand our point of view is crucial in attempting to stop the perception from many others that that this line of work/investment is money for old rope.
From:
Andy Marshall
05 October 2021 10:22 AM
I have sympathy for genuine LHA persons. Unfortunately experience has taught me that they few and far between. I have one LHA tenant and she works hard and is doing her best to keep herself and her family above water. If the Council could be more open with us and give us a chance to have a selection process, much as we do with our tenants, then we could make an informed decision. However, it would appear that we don't have a special relationship with the Council. We need to be closely monitored and that we pay an unreasonable tax in the form of licensing etc. Not only this but they see this as an easy occupation. It maybe for a small element of PL's whom have the money to pay professionals to do the work, but most of us have a vested interest and put in a considerable amount of time and effort into our property business. Therefore to those 55 PL's whom have let there properties to the Council I wish them the best of luck, as they will need it.
From:
Andy Marshall
24 September 2021 10:04 AM
I agree this goes on our own experiences. I now no longer use agents as have had bad experiences over the years. That said there must be good ones out there. It would be good if this website could offer a facility where we could have recommendations from other LL's both for agents and trades people.
From:
Andy Marshall
14 September 2021 09:49 AM
In my view your comment reinforces the point I make. For any newer Landlords for those whom owned mortgaged properties interest rates were plus 15% back in the late 80's, i remember it well, hopefully though never to return! Personally, i didn't have the number of properties then that I have now and more importantly the number of mortgages. My point with the 'easy comment' Michael refers to the record low interest rates some 20 years later in 2008. For some these low rates are the norm, but as you allude this is a long term business and in my humble opinion rates will have to go up. Make sure you can afford it is the essence of my message.
From:
Andy Marshall
11 September 2021 01:29 AM
Unfortunately nothing is going to change. Rental controls will come in as rents have gone up massively. The reason does not matter, though I agree that Section 24 has played a big part. If they think they have a problem now just wait......However, for those of us that have mortgaged properties we have to acknowledge how easy we have had it with record low interest rates. Interest rates WILL go up. How much will be down to the UK economy and then we will see how strong the rental market is.and indeed the housing market in general. Private LL's whom either do not have a mortgage or a very small one will be fine, for those whom don't plan now and re-structure to be able to cope with 8% rate will be in a lot of financial trouble. If you are not convinced just google the rates in the late 1980's and into the 90's and life was a lot simpler then. My advice to all fellow LL's is reduce your mortgage debt as it will be a very bumpy road in around 5 years time. Sorry to sound like a doomster and i would be the first to say that i might not be right, but i've been in this business since the early 90's, took my chances and will now look at down sizing to protect my future.
From:
Andy Marshall
10 September 2021 11:49 AM
Hi Jim, I will not argue with you. I have had 3 new boilers in properties where i either live or let and pay the bills. Savings if any were negligible. Properties were already well insulated and had double glazing. Old boilers i was told would be lucky if they were 60% efficient and the new ones over 90% efficient, therefore circa 30% savings. Not a chance. I would love an explanation too.
From:
Andy Marshall
03 September 2021 19:43 PM
It's a big market place. Make sure that your own portfolio is de-risked. With the massive surge in property prices careful planning should make private Landlords be able to stand on their own 2 feet. Risk taking to build a portfolio is now a fools game.
From:
Andy Marshall
10 August 2021 15:37 PM
Unfortunately with this type of growth further down the road something will have to give. The Government should not interfere in this market as they solve one problem but create others. Time will tell how this plays out. I have been forced to put up rents due to Section 24 mainly. I had not increased rents with existing tenants for years due to falling interest rates, even now I am probably at least £250 behind the average rent per month and that includes the £50 increase I applied in June. I have warned my tenants to expect similar £50 rises for the next 3 years per year. I will be selling a property this year and for the next two to reduce my leverage as interest rates will eventually go up. I will keep selling until i am 80% value to loan. Therefore HMRC will get around £100,000 from me over these 3 years, as I suspect that this is a planned bonus for them as they try to curb the numbers of private landlords or private landlords with multiple houses.
From:
Andy Marshall
28 July 2021 10:30 AM
Bit of a non story IMO, if you pay your tax what's the issue. I'm sure HMRC will have sights on other areas also. Targeting Landlord's - sensational headline especially as it's webinars!! Agree with comment about fair tax for the large corporations whom seem to be able to set their own tax.
From:
Andy Marshall
22 July 2021 09:38 AM
Completely agree with John Adams. There is nowhere else in law that I can think of where the punishment is so disproportionate. A fine to the Council and a segment of the rent paid back to the tenant. I guess the aim of all this is to get the tenants to Police the Landlords. Yet when a Landlord has a problem with a tenant......
From:
Andy Marshall
21 July 2021 09:24 AM
I don't believe that the Government want to destroy the PRS. It is a fact that there was an explosion of Landlords once we entered the new century, most owning one or 2 properties. This is an enormous source of revenue that the Government have tapped into. The situation has been made worse by many Landlords acting like 80's builders (Harry Enfield) loads of money spring to mind, which has put focus on this sector. Add to this the growth in property and it is easy to see why we have been targeted by the tax man. That said I don't believe they have gone about this in the right way. Taxing people on loans has had a consequence of rents being drastically increased. Additional legislation has meant more costs, this again has pushed rents up. The media are to blame also, focusing on poor Landlords whom are the few rather than the responsible Landlords the many. Moving forward i hope the government wake up to the situation and I urge all Landlords to write to their local MP to convince them to take a more balanced view.
From:
Andy Marshall
16 July 2021 09:00 AM
The Scheme to sell to long term Council tenants to buy their house was an admirable scheme. Problem is that people are not admirable and a lot of ex-council owners sold up and spent the money, not all but quite a few. Certainly enough for a programme to be made about it. The idea was that the money generated would build more social housing. In my view the Government need to re-think social housing and not allow 3 bed houses to remain in single occupation. They have discount rent, and quite rightly so, however there needs to be conditions. A lot of Council houses have very large gardens. Knocking a house down to give access to build a row of houses in these gardens would be a cost effective way of increasing social housing without breaking the bank. If they made some of them maisonettes or no more than 3 storey flats with small gardens it would enable locals to have a choice to move but be in the same area. Sensible lateral thinking and long term practical planning are key. Not sure that Councils understand this concept as they just seem to look at short term goals and whether they have complied to the latest self interest rules on how to behave in modern Britain. It will change for the better one day and having lived overseas i can honestly say that we aren't doing too bad here.
From:
Andy Marshall
16 July 2021 08:49 AM
If you live in a conservation area it is your responsibility to inform the Council. I would guess he would have needed to put secondary glazing in, though not as user friendly for the tenant. Incidentally if he had replaced just the rear windows he would have achieved his EPC grade and i am sure the Council will only want him to replace the front windows. Speak to an EPC assessor whom can advise what you need to do to get the best rating. Apparently put one triple glazed window in and that is what your rating will be based on. Told this just last week by an assessor, whom assessed a property that I am selling. Mad I know but you can play within the rules.
From:
Andy Marshall
29 June 2021 08:17 AM
A loan system through the Councils is the way forward. It can be recovered in the following years Council taxes and the loans should be portable if tenant moves to another Council. No issue with centrally funded as again can be recouped. NO WAY SHOULD ARREARS BE WRITTEN OFF
From:
Andy Marshall
24 May 2021 08:50 AM
i'd agree with a first 3 month inspection. But as you get to know your tenant you can increase or decrease the amount of visits, dependent on the tenant. With this aggressive stance from Councils, as long as it is within the law, not a problem.
From:
Andy Marshall
06 May 2021 15:27 PM
Hi Jim, you are the first person i've seen in print that has written exactly what I found to be true. The so called 'A' rated boiler made no difference to my heating bills on my 6 bed HMO. An extra 200mm of insulation in roof. No difference again. The property in question is detached and built between 1905-10. New boiler in a 70's house that I lived in. Vailant A rated boiler and again no difference in my heating bills. Theories don't always work in the real world!!
From:
Andy Marshall
25 March 2021 11:39 AM
Completely agree, I also be write to my local MP explaining where I think they are going right and where they are going wrong. We need to engage wherever we can. I am aware of the risk that Mr Townsend points out and it will have to be a judgement call at the time. The voters certainly let their feelings be felt when it came to Brexit!
From:
Andy Marshall
18 March 2021 19:32 PM
I had a similar problem with a company called Professional Lettings in Gosport. They didn't register the deposit and they with withheld in total 3 months rent. Liquidators were called in and insolvency meeting arranged. Through a little luck i obtained almost 100 landlords email addresses and tried to get an overview of the situation. Some landlords were owed around £5,000. In total it was around £250,000 plus deposits that this agency had secreted away. I was able to get the insolvency halted and had about 35 landlords onside to take action. I got the Police and trading standards involved. It was a lot of time and effort from me and another landlord who led the action. Trading standards pulled out stating not enough evidence, the Police tried to get a conviction but the prosecutors when they reviewed the case decided that it was too costly and not in the public interest. I was told that the chap I dealt with was just an employee of the company, though acted like he owned it. He set up a handy man and a gardener to be the directors. I believed them when they told me that they had not received much from the company. The man whom had been the mastermind behind this had disappeared, however the Police did tell me that he was banned from owning a Limited company due to questionable practices in the past. Though I cannot say all Agencies are like this I now self manage. The sting in the tail is though the deposit was handed to Professional Tenant Finders they are not liable and the Landlords had to pay the deposit that they had not received back to the tenants. Lesson learnt!
From:
Andy Marshall
16 March 2021 18:44 PM
I agree with Shane. Rents are going up too much due to some privileged do gooders or ill informed academics. Government and Councils need to realise that the majority of Landlords and tenants enter into a good partnership and by putting financial pressure on the Landlord can only lead to one choice, increase in rents. Thus far this has been mitigated by low interest rates, this will change over the coming years. Tenants will move to cheaper rents, e.g move north. The ones that can will take advantage of the 95% mortgages. I'm selling my properties in the South as they become vacant. I will consider purchasing one further North but i also wish to bring down mortgages due to Section 24. Interesting times!
From:
Andy Marshall
15 March 2021 10:24 AM
It is clear that Government and Councils want less private Landlords. IMHO they will get what they want. I have got notice to quit from a very good tenant, whom I have for 4 years. He is relocating his family due to a transfer at work. This property will be going up for sale. I hope that the lenders will be able to find enough persons to lend too with the Government backed 95% mortgages, otherwise they will find themselves in a pickle. I understand the comments above, but a limit to how much you can put up rent and with big business now coming to the market place, 'times are a changing'.
From:
Andy Marshall
15 March 2021 09:59 AM
Labour have lost the plot. The 66% of homeowners whom bought with the help of the incentives would disagree with their comments.
From:
Andy Marshall
05 March 2021 17:23 PM
The problem is that there are too many headlines , mainly derogatory, aimed at us ' The Landlord". At least in this we are popular. Most of us in the private category work with our tenants in a partnership. However this is not a head turning caption to grab the spotlight. In any case i'm sure the Unions will be happy tomorrow when the Chancellor will carve another slice from us in one format or another.
From:
Andy Marshall
02 March 2021 14:05 PM
Interesting prediction and would not come as a shock if it were to happen. The other big point why has this taken 3 years to sort out. Something clearly needs to change, whether Council procedures or the system as a whole.
From:
Andy Marshall
02 March 2021 13:49 PM
Our Courts, Prison and Probation Service all need a good overhaul. It's too much focused on the offender rather than the victim. Far, far, far too much leniency. I'm all for re-habilitation but they have to earn this right.
From:
Andy Marshall
01 March 2021 11:32 AM
Maybe Council's should apply this philosophy as to how they manage the safety of residents in high rise flats. The lack of properly trained inspectors to inspect work carried out by trades persons would be a good place to start. Fines need to go to the Council as well as some to the tenant to pay for good regulation. In general i would support rogue landlords being fined, but it is all about balance.
From:
Andy Marshall
25 February 2021 09:29 AM
The writing was on the wall as soon as the 6 month eviction notice was brought in. I'm sure this will become standard. I have no real problem with this as we all like to plan. A landlords only problem is if the tenant stops paying. Advice i've seen from other Landlords's on this website with using CCJ's will be a route that I take. Plus the credit rating soon to be including rent payments overtime will be a very useful tool. Change is always inevitable!
From:
Andy Marshall
25 February 2021 09:25 AM
What a load of tosh. A bank advising on common sense....really. As for planning for tax changes that a government may make....where is my crystal ball!!!
From:
Andy Marshall
25 February 2021 09:21 AM
Well done to this MP. Let's hope this is the start of a more balanced view coming from Parliament. Time will tell!!
From:
Andy Marshall
24 February 2021 09:41 AM
I have to agree with the above 2 comments. Most Landlords are fed up with Landlord bashing, but whilst publications that are supposedly represent us use such terminology which suggests that we are only about the profit we will continue to suffer this stigma.
From:
Andy Marshall
16 February 2021 11:35 AM
Of course this philanthropist is right, it gives everyone another chance to deride landlords. I mean we go to a lender and all but trip over £300,000 as soon as we walk through the door. That said, this is some merit in what has been stated but like all points of view it must be taken in context. Yes it will be easier for someone to borrow money if they are solvent with a good history. However, as that person gets older the attractiveness will lessen as the risk grows. The Section 24 negates a lot of this argument as the loan is now not a taxable allowance. This will have a considerable effect on landlords whom have several buy-to-let mortgages, myself included. With regret this will mean that I will have to review my rents, most of which I have either not increased or have done so marginally since 2008. Property has always had the possibility of a good return, however it is a double edged sword and many a person has been burned and this will continue. I completely agree about the stigma of renting, when I was younger I paid rent. You were certainly treated as a second class citizen. It was a case of how things were said to you rather than being repelled by society. I also had to put up with a couple of awful landlords, but i also had some decent ones as well, overall I am certain that there are more responsible landlords now than back in the 80's. Europe is different to UK over renting and have many different rules so impossible to compare. What I do know is that in Germany they have an ongoing property revolution and property prices are soaring where a lot of Germans are putting savings into property as they deem it a safe place, much like the UK. This ,however, is making rents competitive. Maybe the UK Government should look in that direction and instead of taxing the landlord into putting up rents and excessive legislation they should promote fair competition. Just a thought. IMHO the private landlord offers better competition in a market place that will keep rents at a fair rate. Nobody wants an empty property. Anyway to give context I am just behind the baby boomer generation and have made sacrifices to build my portfolio, as I am sure many of them would have done so also.
From:
Andy Marshall
04 January 2021 10:59 AM
Interesting perspective from Michael Foley. The main issue here imho would be that lenders will not be happy to lend if the situation as Michael suggests becomes the norm!
From:
Andy Marshall
23 December 2020 11:33 AM
These organisations that are intent on driving private landlords from the sector need to have a good look at the situation. Corporate landlords will not be a 'fix all' situation. Less competition will undoubtedly lead to higher rents. If section 21's are to be axed then a robust fair system to both tenants and landlords must be put in place. Lets's get this right now so that we are not fixing the next problem in a few years time.
From:
Andy Marshall
23 December 2020 09:36 AM
Excellent news, how do i apply!
From:
Andy Marshall
22 December 2020 12:01 PM
Whether we like it or not these changes are coming. If Labour were in, well this current lot, then we can all kiss our income from property goodbye. Technology is moving forward at an incredible rate. I am confident that we will have good alternative choices in the years ahead that will be cost effective. Mind you being an Arsenal supporter at the moment I am ever the optimist!!
From:
Andy Marshall
14 December 2020 11:55 AM
Wow a few ruffled feathers today. Corona is real, but not the devastation that it has been made out to be. It has been a tough call all round balancing the need of the fragile few against economy. I would not like to be making these decisions and I think we all need some humility in out outlook. Climate change con....hmmm. Romans apparently were growing grapes on Hadrian's Wall. Must have been warm then i guess. Therefore nobody can win the temperature argument imho. However, air quality using up resources too quick etc etc... I think change needs to happen and i will play my part. The older I get and per chance slightly wiser I despair at some of our politicians. Sometimes I am pleasantly surprised...I am listening to Brexit keenly. If the Europeans do not wish to play ball then I hope we as a nation refuse to buy their goods. My focus currently is encouraging my local MP to leave CGT alone. We contribute enough already. The argument that individuals are evading tax by having wages in shares is simple. Any wage no matter the form is a wage, tax it as such. Lastly Blair was wrong to encourage only Universities...we need skilled tradesmen and apprenticeships let's hope this lot do better
From:
Andy Marshall
10 December 2020 12:00 PM
Pointless. A conciliation service! Landlords whom don't follow the rules will take no notice as will tenants that have similar views. We've had rules and laws to tighten legislation for Landlords, most I don't have a problem with as was adhering to most of it in the first place. What we do not have is a quick eviction system that evicts problem tenants. There is too much support for individuals that flout the rules. For clarity i'm not talking about individuals that have genuine hardships. Our only defence is to ensure we get the good tenant in the first place, not easy.
From:
Andy Marshall
02 December 2020 10:10 AM
I'm with Mr Townsend, bought rundown property and learnt the skills to do them up and used tradesmen where required. Will not be buying more but paying off mortgages getting ready for retirement. Established landlords should not become unstuck, though can see people selling if the Government try to over legislate. That said do not take your eyes off the ball, Covid has had some devastating effects on up to now bullet proof jobs, so no room for complacency.
From:
Andy Marshall
30 November 2020 10:54 AM
I'm glad that this has come up. I made a claim on a garden wall being blown over in strong winds, will not go into details but the neighbour lowering her garden next door had not helped this situation. Needless to say insurance company agreed that I was covered ,but I then found out that I was under insured on my house which meant that they would only pay 70% of my claim. I asked them to prove this. I went through demolition costs and build costs on my whole property and explained that my property was functional and not bespoke. In other words normal kitchen, not granite work tops or gold plated taps etc, same for the rest of the house. Eventually they had to agree that the house was adequately insured and fully paid for the cost of the replacement wall. Remember this is a business and as such they will try and undercut you and this is seen as good business for them. Therefore if you don't like what they inform you challenge it!
From:
Andy Marshall
29 November 2020 17:19 PM
Hi Sue West, well said, i mean i've even heard that there are some businesses that sell food for a living . Outrageous, we all have the right to eat. Soon they will be selling us water! Hang on a minute, what's this bottle say Naive, ah no sorry evian. Without doubt there are useless idiotic cretinous (sorry love this word) landlords and lets hope that they get out of the business. I assume that you work somewhere that deals with complaints on housing, good for you. All I can say that you will never hear from one of my tenants, it's a partnership and I make sure that I hold up my end, I won't bore you with how many times that I have been let down though. Balance is the key. I would add that I am blown away with your confidence in the Politicians to sort out housing. I think it would be better if landlords were able to licence any half decent politician regardless of party. Anyway that's enough of my sentiment.
From:
Andy Marshall
30 October 2020 19:08 PM
I strongly agree with comments by John Thompson. I have properties in 5 areas of the UK with very different interactions with the local councils. I no longer will take on Social paid tenants as a start point due to very poor communications with said Councils. That said I do of course support tenants whom find themselves in this situation before, after and during Covid. Being a Landlord, as well as being a business, means that sometimes you need to go that extra mile. Bring licensing on. Existing landlords should not pay for this, the Government have enough revenue from us since S24 to fund this. New landlords should budget for licensing. In the next phase of licensing then all should pay but it should be at a reasonable price. Currently tenants benefit from Landlords whom break the rules. This money should be shared with local authorities to off set high licensing fees. It is my belief that when the reports come back from inspections it will transform the image of landlords. The vast majority of us work hard, communicate well with our tenants and provide warm, desirable places to live and have a good relationship with tenants. The press will not report this as it's not good fodder for the papers, Shelter aren't interested as they would have to down size and lose their voice and so and so on. Reform needs to happen across the spectrum and licensing to me would be a good way to demonstrate how the greater number of good landlords operate.
From:
Andy Marshall
30 October 2020 11:19 AM
If you wish to compare like for like look at the tax rules in other countries. If you let a property for more than 10 years you have no CGT to pay in many European Countries including Germany. In addition you have tax relief on your business loan. It is foolish to compare if you do not look at all the issues. One that the Landlord bashers would like is that you cannot evict in France in the Winter months, for any reason. That said if you owe rent money there it is a criminal offence and not civil so most people act with responsibility.
From:
Andy Marshall
28 October 2020 15:09 PM
Completely agree with R Brown's comments. Regardless of your view on landlords/tenants this just demonstrates how the scales of justice are unbalanced. Most if not all this money should go to the public purse.
From:
Andy Marshall
15 October 2020 09:41 AM
What is this 8 square metres they are referring to. I am licensing a HMO and it states single occupancy 6.51 square metres and double occupancy 10.22 square metres. Am I missing something?
From:
Andy Marshall
19 November 2018 23:09 PM
Hmmmm this story does not make sense. If the Landlord followed correct procedure then this is trespass + criminal damage. I hope that this can be rectified swiftly for all concerned. I to am reluctant to let my properties to persons on benefits and currently the market is good so that I do not have to, however if it changes...... I completely agree that the Councils, on the benefit side, should have a more pro-active view with Landlords. However, I deal with Councils in several areas on other issues and found them to be very helpful.
From:
Andy Marshall
08 November 2017 10:16 AM
What more changes in legislation what a surprise! One day maybe some legislation will be to assist the hard working, right thinking professional landlord.......nahh must be dreaming.
From:
Andy Marshall
31 October 2017 02:17 AM
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25 May 2023 11:26 AM
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24 May 2023 10:14 AM
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24 May 2023 10:10 AM
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23 May 2023 16:24 PM
From: Andy Marshall
20 May 2023 14:59 PM
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20 May 2023 14:53 PM
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20 May 2023 14:34 PM
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20 May 2023 14:28 PM
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17 May 2023 09:51 AM
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16 May 2023 07:10 AM
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15 May 2023 15:39 PM
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15 May 2023 14:16 PM
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15 May 2023 06:36 AM
From: Andy Marshall
12 May 2023 15:02 PM
From: Andy Marshall
12 May 2023 14:59 PM
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12 May 2023 14:54 PM
From: Andy Marshall
12 May 2023 14:49 PM
From: Andy Marshall
12 May 2023 11:44 AM
From: Andy Marshall
09 May 2023 20:47 PM
From: Andy Marshall
09 May 2023 20:43 PM
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09 May 2023 20:35 PM
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09 May 2023 20:33 PM
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09 May 2023 20:30 PM
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09 May 2023 20:26 PM
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04 May 2023 09:37 AM
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02 May 2023 12:07 PM
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02 May 2023 12:03 PM
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02 May 2023 11:50 AM
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01 May 2023 00:59 AM
From: Andy Marshall
26 April 2023 13:55 PM
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26 April 2023 10:34 AM
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26 April 2023 10:26 AM
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26 April 2023 08:45 AM
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24 April 2023 08:57 AM
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24 April 2023 08:56 AM
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24 April 2023 08:50 AM
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24 April 2023 08:44 AM
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21 April 2023 11:13 AM
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19 April 2023 08:28 AM
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17 April 2023 12:09 PM
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17 April 2023 12:07 PM
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17 April 2023 11:53 AM
From: Andy Marshall
15 April 2023 20:53 PM
From: Andy Marshall
14 April 2023 18:46 PM
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14 April 2023 18:44 PM
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04 April 2023 15:48 PM
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04 April 2023 03:19 AM
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28 March 2023 09:47 AM
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28 March 2023 09:37 AM
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28 March 2023 09:34 AM
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24 March 2023 14:16 PM
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24 March 2023 11:33 AM
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24 March 2023 09:06 AM
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24 March 2023 09:05 AM
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24 March 2023 09:01 AM
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24 March 2023 08:49 AM
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24 March 2023 08:44 AM
From: Andy Marshall
23 March 2023 23:10 PM
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23 March 2023 23:06 PM
From: Andy Marshall
23 March 2023 22:57 PM
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23 March 2023 22:51 PM
From: Andy Marshall
21 March 2023 11:44 AM
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19 March 2023 11:29 AM
From: Andy Marshall
18 March 2023 13:07 PM
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16 March 2023 10:49 AM
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16 March 2023 09:44 AM
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16 March 2023 09:42 AM
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16 March 2023 09:40 AM
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14 March 2023 17:13 PM
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14 March 2023 12:52 PM
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13 March 2023 18:00 PM
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13 March 2023 14:25 PM
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13 March 2023 06:45 AM
From: Andy Marshall
11 March 2023 14:39 PM
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11 March 2023 14:14 PM
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11 March 2023 12:35 PM
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10 March 2023 01:11 AM
From: Andy Marshall
09 March 2023 09:59 AM
From: Andy Marshall
09 March 2023 07:53 AM
From: Andy Marshall
07 March 2023 22:01 PM
From: Andy Marshall
07 March 2023 17:57 PM
From: Andy Marshall
07 March 2023 17:52 PM
From: Andy Marshall
07 March 2023 15:58 PM
From: Andy Marshall
07 March 2023 15:42 PM
From: Andy Marshall
07 March 2023 14:29 PM
From: Andy Marshall
07 March 2023 10:50 AM
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07 March 2023 10:47 AM
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07 March 2023 10:41 AM
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07 March 2023 08:00 AM
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06 March 2023 10:01 AM
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04 March 2023 00:00 AM
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03 March 2023 10:27 AM
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03 March 2023 10:25 AM
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27 February 2023 10:45 AM
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24 February 2023 12:02 PM
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16 February 2023 14:16 PM
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16 February 2023 14:07 PM
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16 February 2023 14:03 PM
From: Andy Marshall
16 February 2023 12:58 PM
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12 February 2023 14:45 PM
From: Andy Marshall
12 February 2023 10:41 AM
From: Andy Marshall
12 February 2023 10:33 AM
From: Andy Marshall
10 February 2023 17:03 PM
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10 February 2023 09:20 AM
From: Andy Marshall
09 February 2023 13:14 PM
From: Andy Marshall
09 February 2023 13:11 PM
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09 February 2023 10:22 AM
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09 February 2023 10:16 AM
From: Andy Marshall
09 February 2023 08:57 AM
From: Andy Marshall
09 February 2023 08:55 AM
From: Andy Marshall
08 February 2023 09:25 AM
From: Andy Marshall
08 February 2023 09:11 AM
From: Andy Marshall
06 February 2023 17:13 PM
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06 February 2023 12:10 PM
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06 February 2023 12:06 PM
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06 February 2023 12:00 PM
From: Andy Marshall
03 February 2023 08:40 AM
From: Andy Marshall
02 February 2023 12:57 PM
From: Andy Marshall
02 February 2023 10:20 AM
From: Andy Marshall
01 February 2023 12:14 PM
From: Andy Marshall
01 February 2023 12:10 PM
From: Andy Marshall
31 January 2023 20:05 PM
From: Andy Marshall
31 January 2023 17:37 PM
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31 January 2023 13:31 PM
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31 January 2023 09:42 AM
From: Andy Marshall
31 January 2023 09:39 AM
From: Andy Marshall
30 January 2023 10:13 AM
From: Andy Marshall
30 January 2023 09:57 AM
From: Andy Marshall
29 January 2023 16:17 PM
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29 January 2023 12:23 PM
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25 January 2023 09:50 AM
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25 January 2023 09:41 AM
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25 January 2023 09:36 AM
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20 January 2023 10:38 AM
From: Andy Marshall
20 January 2023 10:26 AM
From: Andy Marshall
19 January 2023 16:35 PM
From: Andy Marshall
19 January 2023 08:59 AM
From: Andy Marshall
19 January 2023 08:56 AM
From: Andy Marshall
19 January 2023 08:53 AM
From: Andy Marshall
18 January 2023 13:36 PM
From: Andy Marshall
18 January 2023 13:29 PM
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18 January 2023 13:21 PM
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18 January 2023 13:12 PM
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18 January 2023 13:04 PM
From: Andy Marshall
17 January 2023 10:53 AM
From: Andy Marshall
17 January 2023 10:49 AM
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16 January 2023 12:00 PM
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13 January 2023 13:54 PM
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13 January 2023 12:22 PM
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13 January 2023 09:45 AM
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12 January 2023 11:31 AM
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12 January 2023 09:51 AM
From: Andy Marshall
12 January 2023 09:47 AM
From: Andy Marshall
12 January 2023 09:32 AM
From: Andy Marshall
11 January 2023 17:51 PM
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11 January 2023 17:45 PM
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06 January 2023 12:41 PM
From: Andy Marshall
06 January 2023 12:28 PM
From: Andy Marshall
06 January 2023 12:13 PM
From: Andy Marshall
05 January 2023 17:49 PM
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05 January 2023 17:44 PM
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05 January 2023 17:27 PM
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04 January 2023 20:40 PM
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04 January 2023 20:33 PM
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04 January 2023 20:06 PM
From: Andy Marshall
31 December 2022 16:59 PM
From: Andy Marshall
31 December 2022 16:49 PM
From: Andy Marshall
30 December 2022 14:18 PM
From: Andy Marshall
30 December 2022 14:09 PM
From: Andy Marshall
30 December 2022 14:04 PM
From: Andy Marshall
30 December 2022 13:53 PM
From: Andy Marshall
28 December 2022 10:29 AM
From: Andy Marshall
23 December 2022 18:05 PM
From: Andy Marshall
23 December 2022 17:48 PM
From: Andy Marshall
22 December 2022 10:14 AM
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22 December 2022 10:04 AM
From: Andy Marshall
22 December 2022 09:53 AM
From: Andy Marshall
22 December 2022 09:44 AM
From: Andy Marshall
21 December 2022 08:19 AM
From: Andy Marshall
16 December 2022 17:42 PM
From: Andy Marshall
16 December 2022 12:23 PM
From: Andy Marshall
16 December 2022 12:12 PM
From: Andy Marshall
15 December 2022 17:34 PM
From: Andy Marshall
15 December 2022 15:19 PM
From: Andy Marshall
14 December 2022 11:29 AM
From: Andy Marshall
14 December 2022 08:55 AM
From: Andy Marshall
14 December 2022 08:51 AM
From: Andy Marshall
14 December 2022 08:49 AM
From: Andy Marshall
14 December 2022 08:45 AM
From: Andy Marshall
14 December 2022 08:43 AM
From: Andy Marshall
14 December 2022 08:36 AM
From: Andy Marshall
09 December 2022 11:07 AM
From: Andy Marshall
08 December 2022 12:33 PM
From: Andy Marshall
08 December 2022 12:29 PM
From: Andy Marshall
08 December 2022 12:23 PM
From: Andy Marshall
08 December 2022 12:16 PM
From: Andy Marshall
08 December 2022 12:13 PM
From: Andy Marshall
08 December 2022 12:04 PM
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07 December 2022 17:11 PM
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02 December 2022 17:49 PM
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02 December 2022 13:26 PM
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02 December 2022 09:18 AM
From: Andy Marshall
22 November 2022 10:28 AM
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21 November 2022 11:05 AM
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19 November 2022 14:20 PM
From: Andy Marshall
19 November 2022 14:13 PM
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19 November 2022 14:08 PM
From: Andy Marshall
18 November 2022 16:58 PM
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18 November 2022 16:52 PM
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18 November 2022 10:43 AM
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18 November 2022 10:38 AM
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18 November 2022 10:30 AM
From: Andy Marshall
17 November 2022 15:02 PM
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17 November 2022 13:06 PM
From: Andy Marshall
17 November 2022 10:21 AM
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17 November 2022 10:06 AM
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16 November 2022 14:21 PM
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15 November 2022 23:00 PM
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11 November 2022 19:46 PM
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11 November 2022 09:17 AM
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11 November 2022 08:41 AM
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11 November 2022 08:29 AM
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09 November 2022 10:10 AM
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08 November 2022 19:09 PM
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08 November 2022 19:04 PM
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08 November 2022 09:36 AM
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08 November 2022 09:27 AM
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08 November 2022 09:17 AM
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08 November 2022 09:11 AM
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08 November 2022 09:00 AM
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08 November 2022 08:53 AM
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08 November 2022 08:52 AM
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07 November 2022 11:02 AM
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07 November 2022 10:01 AM
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07 November 2022 09:52 AM
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07 November 2022 09:46 AM
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06 November 2022 11:18 AM
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06 November 2022 00:29 AM
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06 November 2022 00:22 AM
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05 November 2022 15:09 PM
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31 October 2022 11:07 AM
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27 October 2022 15:17 PM
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21 October 2022 09:40 AM
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21 October 2022 09:35 AM
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13 October 2022 16:18 PM
From: Andy Marshall
13 October 2022 11:59 AM
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13 October 2022 10:09 AM
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13 October 2022 09:57 AM
From: Andy Marshall
13 October 2022 09:36 AM
From: Andy Marshall
12 October 2022 22:53 PM
From: Andy Marshall
11 October 2022 16:48 PM
From: Andy Marshall
11 October 2022 16:41 PM
From: Andy Marshall
10 October 2022 10:24 AM
From: Andy Marshall
09 October 2022 20:13 PM
From: Andy Marshall
08 October 2022 23:55 PM
From: Andy Marshall
08 October 2022 23:48 PM
From: Andy Marshall
08 October 2022 23:34 PM
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08 October 2022 23:07 PM
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07 October 2022 09:59 AM
From: Andy Marshall
07 October 2022 07:49 AM
From: Andy Marshall
06 October 2022 11:50 AM
From: Andy Marshall
01 October 2022 15:05 PM
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01 October 2022 14:58 PM
From: Andy Marshall
30 September 2022 23:34 PM
From: Andy Marshall
30 September 2022 23:29 PM
From: Andy Marshall
30 September 2022 23:18 PM
From: Andy Marshall
30 September 2022 09:05 AM
From: Andy Marshall
30 September 2022 09:01 AM
From: Andy Marshall
30 September 2022 08:56 AM
From: Andy Marshall
30 September 2022 08:53 AM
From: Andy Marshall
29 September 2022 22:59 PM
From: Andy Marshall
29 September 2022 10:50 AM
From: Andy Marshall
28 September 2022 12:34 PM
From: Andy Marshall
28 September 2022 12:16 PM
From: Andy Marshall
28 September 2022 11:49 AM
From: Andy Marshall
28 September 2022 11:25 AM
From: Andy Marshall
26 September 2022 19:23 PM
From: Andy Marshall
24 September 2022 13:51 PM
From: Andy Marshall
23 September 2022 20:07 PM
From: Andy Marshall
23 September 2022 18:34 PM
From: Andy Marshall
22 September 2022 09:08 AM
From: Andy Marshall
16 September 2022 09:25 AM
From: Andy Marshall
16 September 2022 09:11 AM
From: Andy Marshall
12 September 2022 10:20 AM
From: Andy Marshall
09 September 2022 08:59 AM
From: Andy Marshall
08 September 2022 12:02 PM
From: Andy Marshall
08 September 2022 11:24 AM
From: Andy Marshall
08 September 2022 11:22 AM
From: Andy Marshall
06 September 2022 09:58 AM
From: Andy Marshall
06 September 2022 09:49 AM
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02 September 2022 09:14 AM
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02 September 2022 08:36 AM
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31 August 2022 09:30 AM
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31 August 2022 09:22 AM
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31 August 2022 09:08 AM
From: Andy Marshall
30 August 2022 09:35 AM
From: Andy Marshall
17 August 2022 13:40 PM
From: Andy Marshall
16 August 2022 21:37 PM
From: Andy Marshall
16 August 2022 08:54 AM
From: Andy Marshall
16 August 2022 08:27 AM
From: Andy Marshall
16 August 2022 08:13 AM
From: Andy Marshall
13 August 2022 09:57 AM
From: Andy Marshall
12 August 2022 14:50 PM
From: Andy Marshall
12 August 2022 14:47 PM
From: Andy Marshall
12 August 2022 14:43 PM
From: Andy Marshall
08 August 2022 10:32 AM
From: Andy Marshall
07 August 2022 17:09 PM
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07 August 2022 10:05 AM
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05 August 2022 09:52 AM
From: Andy Marshall
05 August 2022 09:36 AM
From: Andy Marshall
04 August 2022 18:59 PM
From: Andy Marshall
04 August 2022 10:13 AM
From: Andy Marshall
04 August 2022 10:06 AM
From: Andy Marshall
02 August 2022 18:53 PM
From: Andy Marshall
02 August 2022 18:43 PM
From: Andy Marshall
02 August 2022 11:37 AM
From: Andy Marshall
31 July 2022 11:10 AM
From: Andy Marshall
29 July 2022 12:11 PM
From: Andy Marshall
29 July 2022 11:35 AM
From: Andy Marshall
29 July 2022 11:29 AM
From: Andy Marshall
26 July 2022 16:40 PM
From: Andy Marshall
20 July 2022 19:50 PM
From: Andy Marshall
07 July 2022 11:38 AM
From: Andy Marshall
07 July 2022 11:32 AM
From: Andy Marshall
06 July 2022 19:57 PM
From: Andy Marshall
06 July 2022 12:27 PM
From: Andy Marshall
06 July 2022 12:22 PM
From: Andy Marshall
06 July 2022 10:34 AM
From: Andy Marshall
06 July 2022 10:19 AM
From: Andy Marshall
06 July 2022 09:32 AM
From: Andy Marshall
05 July 2022 13:24 PM
From: Andy Marshall
05 July 2022 13:19 PM
From: Andy Marshall
01 July 2022 14:01 PM
From: Andy Marshall
01 July 2022 13:52 PM
From: Andy Marshall
24 June 2022 11:41 AM
From: Andy Marshall
24 June 2022 11:36 AM
From: Andy Marshall
10 June 2022 17:32 PM
From: Andy Marshall
25 March 2022 11:11 AM
From: Andy Marshall
25 March 2022 11:10 AM
From: Andy Marshall
21 March 2022 09:08 AM
From: Andy Marshall
01 March 2022 10:33 AM
From: Andy Marshall
11 February 2022 09:33 AM
From: Andy Marshall
10 February 2022 08:49 AM
From: Andy Marshall
10 February 2022 08:45 AM
From: Andy Marshall
07 February 2022 09:51 AM
From: Andy Marshall
04 February 2022 10:36 AM
From: Andy Marshall
04 February 2022 10:17 AM
From: Andy Marshall
02 February 2022 18:10 PM
From: Andy Marshall
18 January 2022 10:28 AM
From: Andy Marshall
12 January 2022 16:59 PM
From: Andy Marshall
06 January 2022 16:47 PM
From: Andy Marshall
06 January 2022 16:44 PM
From: Andy Marshall
04 January 2022 14:10 PM
From: Andy Marshall
31 December 2021 11:14 AM
From: Andy Marshall
25 December 2021 21:19 PM
From: Andy Marshall
20 December 2021 11:10 AM
From: Andy Marshall
20 December 2021 11:06 AM
From: Andy Marshall
09 December 2021 12:03 PM
From: Andy Marshall
06 December 2021 10:15 AM
From: Andy Marshall
11 November 2021 23:07 PM
From: Andy Marshall
11 November 2021 10:07 AM
From: Andy Marshall
19 October 2021 12:01 PM
From: Andy Marshall
19 October 2021 09:39 AM
From: Andy Marshall
18 October 2021 21:42 PM
From: Andy Marshall
18 October 2021 10:00 AM
From: Andy Marshall
18 October 2021 09:47 AM
From: Andy Marshall
14 October 2021 07:08 AM
From: Andy Marshall
13 October 2021 11:04 AM
From: Andy Marshall
13 October 2021 10:45 AM
From: Andy Marshall
13 October 2021 10:38 AM
From: Andy Marshall
12 October 2021 23:26 PM
From: Andy Marshall
12 October 2021 23:14 PM
From: Andy Marshall
11 October 2021 14:17 PM
From: Andy Marshall
05 October 2021 11:05 AM
From: Andy Marshall
05 October 2021 10:22 AM
From: Andy Marshall
24 September 2021 10:04 AM
From: Andy Marshall
14 September 2021 09:49 AM
From: Andy Marshall
11 September 2021 01:29 AM
From: Andy Marshall
10 September 2021 11:49 AM
From: Andy Marshall
03 September 2021 19:43 PM
From: Andy Marshall
10 August 2021 15:37 PM
From: Andy Marshall
28 July 2021 10:30 AM
From: Andy Marshall
22 July 2021 09:38 AM
From: Andy Marshall
21 July 2021 09:24 AM
From: Andy Marshall
16 July 2021 09:00 AM
From: Andy Marshall
16 July 2021 08:49 AM
From: Andy Marshall
29 June 2021 08:17 AM
From: Andy Marshall
24 May 2021 08:50 AM
From: Andy Marshall
06 May 2021 15:27 PM
From: Andy Marshall
25 March 2021 11:39 AM
From: Andy Marshall
18 March 2021 19:32 PM
From: Andy Marshall
16 March 2021 18:44 PM
From: Andy Marshall
15 March 2021 10:24 AM
From: Andy Marshall
15 March 2021 09:59 AM
From: Andy Marshall
05 March 2021 17:23 PM
From: Andy Marshall
02 March 2021 14:05 PM
From: Andy Marshall
02 March 2021 13:49 PM
From: Andy Marshall
01 March 2021 11:32 AM
From: Andy Marshall
25 February 2021 09:29 AM
From: Andy Marshall
25 February 2021 09:25 AM
From: Andy Marshall
25 February 2021 09:21 AM
From: Andy Marshall
24 February 2021 09:41 AM
From: Andy Marshall
16 February 2021 11:35 AM
From: Andy Marshall
04 January 2021 10:59 AM
From: Andy Marshall
23 December 2020 11:33 AM
From: Andy Marshall
23 December 2020 09:36 AM
From: Andy Marshall
22 December 2020 12:01 PM
From: Andy Marshall
14 December 2020 11:55 AM
From: Andy Marshall
10 December 2020 12:00 PM
From: Andy Marshall
02 December 2020 10:10 AM
From: Andy Marshall
30 November 2020 10:54 AM
From: Andy Marshall
29 November 2020 17:19 PM
From: Andy Marshall
30 October 2020 19:08 PM
From: Andy Marshall
30 October 2020 11:19 AM
From: Andy Marshall
28 October 2020 15:09 PM
From: Andy Marshall
15 October 2020 09:41 AM
From: Andy Marshall
19 November 2018 23:09 PM
From: Andy Marshall
08 November 2017 10:16 AM
From: Andy Marshall
31 October 2017 02:17 AM