Currently viewing the tag: "utility bills"
Mortgage Market Review Already Causing Delays For Borrowers

Mortgage Market Review Already Causing Delays For Borrowers

Mortgage Market Review Already Causing Delays For Borrowers

Would be residential property buyers are dismayed about the change of the rules on residential mortgages, with strict lending criteria tightened following the introduction of the Mortgage Market Review (MMR).

Since 26th April 2014, mortgage lenders have been required to carry out much more detailed checks of a borrower’s financial situation to be sure that they can truly afford to purchase and continue to afford the property, both now and in the future.

The introduction of the MMR is supposed to help regulate the residential property purchase market and does not yet apply to buy to let mortgages, but that could happen in time.

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More Red Tape For LandlordsRed Tape Increases For Private Sector Landlords
Despite Government Promises

Despite numerous promises to reduce the amount of red tape property professionals had to deal with, there are now even more legal requirements to let and manage rental properties.

The coalition Government started an initiative called the Red Tape Challenge, aiming to reduce the time and associated financial costs incurred by businesses and consumers in complying with unnecessary legislation.

However, recent Government announcements will increase the amount of red tape and infuriating processes that landlords and letting agents have to deal with

The Residential Landlords Association (RLA) say there are currently over 100 national regulations governing the letting of a rental property in the private rental sector.

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A Life Less Taxing For Landlords

A Life Less Taxing For Landlords

HMRC Issue Landlord Warning

With the new tax year already here the HMRC have repeated the warning that they are cracking down on tax evasion by UK private rented sector landlords,

All PRS landlords who own residential rental properties are being advised to register for self assessment, if they haven’t done so already.

The self assessment annual tax return covers the period up to the 5th April each year, and needs to be filed online by no later than the following 31st January.

In order to calculate the tax owed by a landlord, the rental income must be added to any other taxable income that the landlord may earn, including wages from employment. The rate of income tax that HMRC will charge will depend on the landlord’s total income for the tax year.

There are a number of expenses that landlords can offset against their tax liability for rental income, including;

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Two Day HMO and LHA Presentation with Arsh Ellahi

Arsh Ellahi

Hi all, Arsh Ellahi here!
People often ask me about how I set up my HMO’s (Houses of Multi Occupancy) so my tenants pay all outgoings such as Council Tax, Water Rates, Electricity and Gas (where applicable). It may seem surprising to some that my only outgoing for a HMO property is merely the landlord’s supply, which pays for the communal lighting and fire alarms.

With this in mind I am holding a 2 day course which will assist you in maximizing your income from your HMO properties and LHA Tenancies. Not paying large utility bills will form part of the course alongside other essential hints and tips from a Landlord with a wealth of HMO experience.

Day 1 Saturday 20th April 2013 – This day will consist of a visit to 4 high cash generating HMOs in which tenants are responsible for their own utility. See a successful HMO in action!

Day 2 – Sunday 21st April 2013 LHA Masterclass– How to skyrocket your cashflow without converting to HMOs

Find out more details and book onto this course by clicking the link below:
www.arshellahi.com/web/ae-events

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