Avsnitt
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Rob looks at the impending ban on gas boilers in new homes, set to take effect in 2027 as part of the government's Future Homes Standard aimed at reducing carbon emissions. He delves into the implications of this legislation for developers and homeowners, highlighting concerns about increased construction costs, potential planning issues, and the strain on the electricity grid.
KEY TAKEAWAYS
Gas Boiler Ban: The UK government plans to ban gas boilers in new homes starting in 2027 as part of the Future Homes Standard aimed at reducing carbon emissions. The transition to electric heat pumps and non-gas alternatives is expected to increase construction costs, which will likely be passed on to homebuyers, potentially making housing less affordable. The shift to electric heating systems raises concerns about the capacity of the electricity grid, which may struggle to handle the increased demand, leading to potential reliability issues. Relying solely on electric heat pumps could create vulnerabilities, as a power outage would leave homes without heating or hot water, emphasizing the need for backup systems. The current energy policies are viewed as flawed, with high electricity prices and a lack of diverse energy options, leading to skepticism about the effectiveness and sustainability of the proposed changes.BEST MOMENTS
"Gas boilers are likely to be banned in new homes from 2027 as part of legislation being brought forward by the government."
"If you're trying to force everyone down this net zero route, what is going to happen is that the cost of putting in heat pumps... would increase."
"You're putting all your eggs in one basket... if the grid goes down and you're running off a heat pump, then you're screwed."
"Banning gas boilers, not a good thing in my opinion... they're making us poorer, I think, by design."
"We should always have the option, if you want gas, have gas. If you don't want gas and you want a heat pump, go for it."
VALUABLE RESOURCES
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Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob extends warm Christmas and New Year wishes to you, the listeners while encouraging you to take a break from business stresses and enjoy quality time with family and friends. He shares valuable tips for reflecting on the past year and planning for the upcoming one, emphasising the importance of goal setting and strategic networking in the property market.
KEY TAKEAWAYS
The holiday season is a valuable opportunity to spend quality time with friends and family, allowing for a mental break from business stresses and personal challenges. Use the festive period to reflect on the past year, assess what went well and what didn’t, and set clear goals for the upcoming year. Writing down these goals is crucial for achieving them. Consider evaluating current property strategies and exploring new ones. Rob highlights the importance of being open to new opportunities in the property market, even if they weren't previously on your radar. Networking should be strategic rather than just a numbers game. Identify specific goals for networking, such as finding new partners or resources, and ensure that your efforts are focused and productive.BEST MOMENTS
"It's always nice every once in a while to take your mind off of other things, maybe business stresses or things in your personal life."
"Half the time, goal setting is very important, because it's okay having it in your head, but once you've written it down, that's the first step to achieving it."
"There are always deals out there. There are always opportunities out there."
"When you go networking, what are you looking to try and do? What's the aim of networking?"
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Saknas det avsnitt?
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Rob discusses the impending landlord exodus expected to impact the UK housing market from 2025 onwards. Citing the latest English Private Landlord Survey, he highlights a significant increase in landlords considering selling their properties, rising from 22% in 2021 to 31% in 2024. The discussion delves into the various factors contributing to this trend, including recent legislative changes, rising mortgage costs, and the challenges posed by the Renters Reform Bill.
KEY TAKEAWAYS
A significant increase in landlords considering selling their properties is anticipated, with the percentage rising from 22% in 2021 to 31% in 2024. This trend could lead to a decrease in rental housing supply. The potential exodus of landlords may result in higher rental prices due to decreased supply, despite the government's intentions to protect renters through new legislation. Recent legislation, including the Energy Performance Certificate (EPC) regulations and the Renters Reform Bill, has contributed to landlords' decisions to sell, as many feel the environment has become increasingly unfavourable. Rising mortgage costs and inflation are putting additional pressure on landlords, making it more challenging to maintain profitability in the rental market.BEST MOMENTS
"There will be a devastating landlord exodus that will hit Britain from 2025 onwards, and it's a culmination of a lot of factors."
"If the supply of available housing for rent decreases... then what happens is an increase in prices."
"Just under two-thirds have blamed the recent legislation changes for the decision."
"Landlords have been operating in an increasingly unfriendly environment."
"If all these properties were sold... that leaves a smaller pool of rental properties that are available."
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob looks into the alarming findings of the English Private Landlord Survey of 2024, revealing that over a third of landlords are raising rents by at least 15% for new tenancies. This surge in rental prices has sparked outrage among renter groups, prompting calls for government intervention to address the escalating costs of housing. The discussion highlights the increasing number of landlords planning to reduce their portfolios, the challenges of energy efficiency in rental properties, and the reluctance of many landlords to accept tenants on housing support.
KEY TAKEAWAYS
Over a third of landlords are increasing rents by at least 15% for new tenancies, leading to significant concern from renter groups and calls for government intervention. The proportion of landlords planning to reduce their portfolios or sell properties has increased from 22% in 2021 to 31%, indicating a growing sentiment among landlords to exit the market. A significant number of landlords (47%) have properties with a D rating or below for energy performance, yet only 35% plan to improve energy efficiency, suggesting potential financial constraints or unwillingness to invest. A notable percentage of landlords (38%) are unwilling to rent to individuals receiving housing support, and 47% are hesitant to accommodate tenants requiring adaptations for disabilities, reflecting a challenging rental landscape for vulnerable groups.BEST MOMENTS
"Over a third of landlords are apparently raising rent by at least 15% for new tenancies."
"Nearly a fifth of those raising the rent on existing tenants did so by a whopping 15 percent or more."
"Eye-watering rents put this out of reach for too many."
"If you put a price cap on something, it's gonna have an inadvertent effect on the people you're trying to protect."
"Unless people want to look into that and admit why this is happening in the first place, I'm not sure we're going to come up with any useful solutions moving forward."
VALUABLE RESOURCES
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob discusses a troubling case involving a landlord, Nick Lyons, who faces a £10,000 bill after his rental property in South London was turned into a cannabis farm by tenants who sublet the property without his consent. He highlights the challenges landlords face in the current rental market, particularly regarding tenant protections and the importance of regular property inspections.
KEY TAKEAWAYS
Landlords should ensure that regular property inspections are conducted, whether managed personally or through an agent. This helps identify potential issues before they escalate. It's crucial for landlords to maintain open lines of communication with their property management agents. If inspections are being denied or not conducted, landlords should be informed promptly to address the situation. Tenants have the right to peaceful enjoyment of their property, which includes the ability to refuse entry for valid reasons. Landlords must be aware of these rights and navigate them carefully. Familiarity with the Landlord and Tenant Act 1985, particularly Section 11, is essential. This law allows landlords to enter properties with 24 hours written notice for essential repairs or in emergencies, but does not permit entry solely based on suspicion of illegal activity.BEST MOMENTS
"The tenant always had an excuse, and because of his good track record, they didn't push further."
"Had this been done earlier, we might have discovered the problem before it escalated."
"It's important to have good systems and processes in place to ensure that regular inspections are being carried out."
"If a landlord or managing agent suspects illegal activity, this does not on its own warrant entry without permission."
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob examines the impact of inflation on property investment, particularly in the context of the recent 3.7% year-on-year increase in UK house prices as reported by the Nationwide House Price Index. He highlights the dynamics of supply and demand in the housing market, emphasising how inflation can be leveraged to build equity over time.
KEY TAKEAWAYS
Inflation can be advantageous for property investors as it tends to increase the value of homes over time, allowing for greater equity accumulation. An example illustrates that if a property is purchased for £100,000 with a £75,000 mortgage, and its value rises to £120,000 due to inflation, the equity increases from £25,000 to £45,000 without changing the mortgage amount. Proper timing when remortgaging is crucial. If the market declines and the property value drops, investors may face negative equity, making it difficult to refinance. A long-term approach to property investment is emphasised, as values generally trend upwards over time despite potential market corrections or crashes.BEST MOMENTS
"The Nationwide House Price Index in the United Kingdom increased 3.7% year-on-year in November 2024, saying to us that the UK house price growth is accelerating."
"If you're not in property or you're not in things like gold or silver, then your purchasing power decreases."
"If you are in an inflationary environment, the price of the home or the value of the home through inflation should incrementally increase."
"You make your money when you buy, but if the market's not timed properly, then that could lead to all sorts of issues."
"Inflation will, over time, increase the price of an asset, and if you're keeping your original mortgage the same, you'll build a hell of a lot of equity."
VALUABLE RESOURCES
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SOCIAL MEDIA/CONTACT US
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob addresses the growing concerns surrounding spray foam insulation in homes, particularly its impact on selling and remortgaging properties. With major lenders increasingly rejecting homes that have this type of insulation installed, Rob examines the potential issues caused by improper installation, such as moisture buildup and structural damage.
KEY TAKEAWAYS
Homeowners with spray foam insulation may face difficulties when trying to sell or remortgage their properties, as major lenders are increasingly rejecting homes with this type of insulation. Many instances of spray foam insulation have been poorly installed, leading to potential issues such as moisture buildup and dampness in the loft area, which can compromise the structural integrity of the roof. A significant portion of spray foam insulation was installed under the previous government's Green Homes Grant scheme, highlighting a lack of coordination between government initiatives and lender requirements. It is crucial for homeowners and potential buyers to inspect loft spaces for spray foam insulation. If present, it can be a point of negotiation during property transactions.BEST MOMENTS
"If you have it in your home, then you might have trouble either selling your home or remortgaging."
"The fear from lenders is that with spray foam installation, what it does is it blocks up the rafters."
"It's estimated about a quarter of a million homes have this type of installation."
"There's going to be a lot of cowboy people out there to take advantage of the grant cash."
"If you're looking to have this installed, I personally, I wouldn't recommend it."
VALUABLE RESOURCES
https://www.bbc.co.uk/news/articles/cqjrpv218r0o
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob unpacks the troubling situation surrounding the North Peckham Heating Network in Southwark, South London regarding the exorbitant estimated heating bills faced by residents, exemplified by a case where a tenant received a shocking annual bill of over £5,000 due to the communal heating system.
KEY TAKEAWAYS
Residents in the North Peckham heating network are facing exorbitant heating bills, with one individual receiving an estimated annual bill of over £5,000 due to the communal heating system. Communal heating networks are not covered by Ofgem's energy price cap, allowing providers to charge unregulated prices for gas, which can lead to significantly higher costs for tenants. The heating systems in question are classified as commercial, despite serving residential buildings, resulting in a price discrepancy that negatively impacts residents. The current energy policy in the UK is criticised for being ineffective and not responsive to geopolitical challenges, contributing to rising energy costs and dissatisfaction among residents. There is a call for improved regulation of heat networks to protect residents from high costs and ensure that energy policies serve the needs of the public effectively.KEY TAKEAWAYS
"His estimated bill for the year was 5,094 pounds and 17 pence. That's a lot... that is absolutely ludicrous."
"Heat networks don't really work from a cost efficiency point of view. They just don't at the moment."
"Why are these things classed as commercial systems, if you're dealing with residential buildings?"
"The underlying issue here is that there are a lot of challenges within the energy sector at the moment, they're not going to go away anytime soon."
"We need to have more cohesive and joined up thinking and we're not going to get that with this current policy."
VALUABLE RESOURCES
https://www.bbc.co.uk/news/articles/cvg74903457o
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob discusses the impending ban on no-fault evictions, specifically Section 21 notices, as proposed by the Labour government, set to take effect by the summer of 2025. The conversation highlights the current challenges faced by landlords, who are rushing to issue Section 21 notices before the ban is implemented, resulting in an eight-year high in evictions.
KEY TAKEAWAYS
The Labour government plans to implement a ban on no-fault evictions (Section 21) by summer 2025, which will make it more challenging for landlords to regain possession of their properties. There has been a significant rise in the issuance of Section 21 notices, with 8,425 households served between July and September, marking an eight-year high. This surge is attributed to landlords acting preemptively before the ban takes effect. Without the ability to issue Section 21 notices, landlords may face difficulties in evicting tenants, especially in cases where tenants are not paying rent or are otherwise problematic, leading to a potentially lengthy court process. There is a call for a balanced approach that considers the needs of both landlords and tenants. The suggestion is to establish an effective ombudsman system before abolishing Section 21 notices to ensure a fair resolution process.BEST MOMENTS
"It's no surprise to see that Ministry of Justice figures show between July and September, 8,425 households in England were served with Section 21 notices, which is at an eight-year high."
"By taking that away, you then have this situation where if you want to get your property back, you're now going to struggle to do so."
"If the ombudsman was in place beforehand, and it was being tested, and it was relatively efficient, I think that would be more palatable for most people."
"Landlords will cite the same thing... and a lot of tenants, or housing charities, will take the other side of the fence and just point their fingers at landlords."
"If it was me, I'd flip it and do the ombudsman first and go from there. Let's see what happens."
VALUABLE RESOURCES
https://www.msn.com/en-gb/news/uknews/landlords-rush-to-force-out-tenants-ahead-of-labour-s-no-fault-eviction-ban/ar-AA1u5qwz?ocid=winp2fptaskbar&cvid=13d432bc60894632ff342e86742efd84&ei=7
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob examines the challenges surrounding communal heating systems and the implications of the push towards net zero initiatives. Focusing on a case study from Lillington and Longmore Gardens in South Central London, he highlights the council's plan to invest in an eco-friendly heating system that could lead to significant service charge increases for residents.
KEY TAKEAWAYS
There are significant issues with communal heating systems, particularly in social housing, which are being exacerbated by the push towards net zero initiatives. Residents of Lillington and Longmore Gardens are facing a projected service charge increase of around £66,000 due to the council's plan to invest in a new eco-friendly heating system, despite existing unresolved maintenance issues. The decision to implement a costly new heating system, rather than simply upgrading the existing gas boilers, raises concerns about the practicality and financial wisdom of such initiatives in the context of social housing. The heating system in question is one of the oldest in Britain, previously utilising waste heat from Battersea Power Station, but now relies on outdated gas boilers, highlighting the need for a more sensible approach to upgrades.BEST MOMENTS
"There's been a lot of issues with communal heating and heating projects... councils just not thinking because they're being led down a dark and dangerous path."
"The irony being of this system... they’re coming up with this idea of, well, let's put this system in, oh, by the way, it's going to cost X amount."
"Residents... have seen their service charges already increased by about 150%. They're claiming that basic repairs remain unresolved."
"The easy win here... would be to upgrade the existing gas boilers with new gas boilers. That's the easy solution."
"We're being pushed down this area and path that we don't need to be pushed down to."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/other/we-re-living-in-squalor-but-our-council-is-trying-to-bill-us-66k-for-net-zero-heating/ar-AA1u0Pw3?ocid=winp2fptaskbar&cvid=76889fd0bbd045a689655b82088512c0&ei=7
https://www.telegraph.co.uk/money/consumer-affairs/8-alternatives-gas-boilers-whether-save-you-money/
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
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BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob discusses the recent decision by the Bank of England to reduce the base interest rate from 5% to 4.75%, a move that was widely anticipated. He delves into the implications of this rate cut, particularly in light of the government's recent budget, which is expected to stimulate inflation, arguing against the rate reduction, citing historical patterns of inflation and the potential for rising prices due to increased government spending and flawed energy policies.
KEY TAKEAWAYS
The Bank of England has reduced the base rate from 5% to 4.75%, a 25 basis point cut, which was widely anticipated. Despite the rate cut, the Bank of England warns that interest rates may take longer to fall due to rising inflation, influenced by recent government budget decisions. The budget is expected to stimulate economic growth but also includes tax increases and measures that could lead to higher prices, contributing to inflation. Energy prices are a significant factor in inflation, and the current energy policy is viewed as flawed, which may exacerbate inflationary pressures. The Monetary Policy Committee voted 8 to 1 in favor of the rate cut, with one member advocating for rates to remain unchanged due to concerns about inflation stemming from the budget.BEST MOMENTS
"The Bank of England has reduced the base rate from 5% down to 4.75%. This was widely expected, but what's most interesting are the comments that accompanied the interest rate decision."
"My argument on this podcast has been that the Bank of England shouldn't be reducing rates anyway, because inflation has three waves."
"Although we supposedly had a 22 billion pound black hole, the government have decided to stimulate growth through spending, and with that comes a big bunch of tax increases."
"The inflation measure apparently did fall below the bank's 2% target, but that was always expected to rise again."
"I don't think that rates should be going down at all. They should be going in the other direction because what will happen is that rates will continue to go down and exacerbate inflation."
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob discusses the current economic challenges facing the UK, particularly the alarming national debt that has surpassed £3 trillion, exceeding the country's national income. He examines the implications of this financial situation, including the potential for inflation and the importance of being proactive in managing personal finances, and offers practical advice on safeguarding assets, such as acquiring physical gold and silver as inflation hedges
KEY TAKEAWAYS
The UK's national debt is projected to exceed £3 trillion, surpassing 100% of national income, which poses significant economic challenges and could lead to inflation and devaluation of the currency. Inflation increases the price of goods and services, effectively reducing the purchasing power of currency. It's crucial to recognise how inflation can impact financial stability. Acquiring physical gold and silver is recommended as a hedge against inflation and economic instability. These metals maintain purchasing power over time and carry no counterparty risk. Having a knowledgeable team, including tax accountants and financial advisors, is essential for navigating property investments and maximising tax efficiency, especially in a challenging economic environment. Considering temporary or permanent residency in other countries can provide a safety net and potential tax benefits. It's advisable to have a plan B in case of worsening conditions in the UK.BEST MOMENTS
"Britain's got a bit of an issue at the moment and that's in terms of its debt... the debt of Great Britain is likely to exceed £3 trillion."
"Inflation is the stealthiest tax of them all... it means that the cost of that good or service has gone up by 5%."
"If you own the physical gold yourself... there's no counterparty risk. A government cannot print physical gold."
"If you think there's a lot of economic stupidity coming down the line... then looking at gold might be a very good idea for you."
"If you don't have a temporary residency in a different country... then do look at obtaining that and be quick about that if you can."
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob delves into the recent changes to Stamp Duty in England and Northern Ireland, providing a comprehensive overview of the new rates and their implications for both first-time buyers and property investors.
He highlights the current rates effective until March 31, 2025, and outlines the upcoming changes set to take effect on April 1, 2025, as well as the potential impact of these changes on the property market, including the possibility of reduced investment in rental properties and the resulting effects on supply and demand.
KEY TAKEAWAYS
The current Stamp Duty rates for residential properties in England and Northern Ireland will remain in place until March 31, 2025. After this date, the thresholds and rates will change, with the zero rate for main residences decreasing from £250,000 to £125,000. First-time buyers may benefit from reduced competition in the market due to higher costs for investors, potentially making it easier for them to enter the property market. The additional Stamp Duty rate for investment properties will rise from 3% to 5%, which may deter some investors from purchasing rental properties, leading to a potential decrease in the supply of rental homes. The changes in Stamp Duty could lead to a rush of transactions before the new rates take effect, followed by a possible drop in demand and transactions after April 1, 2025, particularly in regions with higher property values. Those in the process of purchasing a property should confirm their Stamp Duty obligations with their solicitors, especially if they have exchanged contracts but have not yet completed the purchase, as they may still be bound by the pre-budget rules.BEST MOMENTS
"The purchase price when it's up to 250,000 or 425,000 for first time buyers, then the stamp duty rate is effectively zero."
"If more people were sitting on the fence about I could go and buy some property or I might not, then they might look at these increased transaction costs."
"What could the impact of that be? Well, people purchasing properties above 125,000 will face higher stamp duty land tax liabilities."
"The threshold for first time buyers and stamp duty is decreasing... this could lead to reduced investment in rental properties."
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob talks about the recent proposal by Leeds City Council to implement the highest licensing fee for landlords in the UK, set at £1,225, which represents a 45% increase from the current rate, raising concerns about selective licensing schemes, arguing that these initiatives are primarily cash-generating measures rather than genuine efforts to improve housing standards.
KEY TAKEAWAYS
Leeds City Council has proposed raising the licensing fee for landlords to £1,225, marking a 45% increase from the current fee, which is the highest in the UK. The increase in licensing fees is likely to be passed on to tenants through higher rents, potentially leading to an inflationary spiral that negatively affects those the licensing is intended to protect. Councils often justify selective licensing by claiming it aims to improve housing standards and protect tenants, but there are doubts about its effectiveness, especially in areas with poor housing conditions. The implementation of selective licensing schemes incurs additional administrative costs for councils, which may further complicate the financial burden on landlords and, consequently, tenants.BEST MOMENTS
"Leeds City Council has proposed charging the highest fee in the country... £1,225 to have a license to operate a buy-to-let property."
"The very thing that selective licensing schemes are trying to protect... the tenants are going to become the most worse off out of this because the fees will get passed on to them."
"It's not necessarily the implementation of the licensing. It's almost the lying about it and saying, well, this is what it's for, when really it's got nothing to do with that."
"The revenue from the scheme is to allow the local authorities to increase enforcement and improve standards... raising doubts about the direct impact of licensing on housing standards."
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob discusses various grants and loans available for eco upgrades aimed at improving energy efficiency in homes. He highlights the Warm Homes Plan, which offers financial support for low-income homeowners and private tenants to enhance their properties' energy performance ratings, as well as the Boiler Upgrade Scheme that provides grants for replacing older boilers with greener alternatives. Additionally, the Great British Insulation Scheme (GBIS) is introduced, targeting homes with low energy performance ratings.
KEY TAKEAWAYS
There are various grants and loans available for eco upgrades, including the Warm Homes Plan, which offers up to £15,000 for energy performance improvements for eligible homeowners and tenants. While homeowners and tenants can access funding without any financial contribution, landlords are required to pay 50% of the costs for upgrades beyond the first one covered by the scheme. This scheme provides grants of up to £7,500 for replacing older boilers with more modern heat pumps, although there is skepticism about the environmental benefits of heat pumps. Aimed at properties with low energy performance ratings (D or below), this scheme offers various home insulation options for eligible households in specific council tax bands.BEST MOMENTS
"There has been another £3.4 billion earmarked as a result of the budget."
"Each eligible home can access £15,000 for energy performance improvements and potentially an additional £15,000 to install low carbon heating."
"If we're looking to really, really improve everything, then it should just be a blanket case."
"The boiler upgrade scheme provides grants worth up to £7,500 towards replacing older boilers with more modern and supposedly greener heat pumps."
"Anything in life, if it's overly difficult or unnecessarily complicated, then it puts a lot of people off."
VALUABLE RESOURCES
https://www.gov.uk/apply-great-british-insulation-scheme
https://www.msn.com/en-gb/money/other/thousands-of-uk-households-could-get-400-a-year-to-cut-energy-bills/ar-AA1tc1KZ?ocid=winp2fptaskbar&cvid=47ad2328aef04a09ba831f1fdf63fb0c&ei=18
https://www.msn.com/en-gb/money/other/free-heat-pumps-and-insulation-upgrades-worth-up-to-30k-each-as-budget-pledges-3-4bn-to-improve-homes/ar-AA1tdnlM?ocid=winp2fptaskbar&cvid=2c9dc3dddb5543caacae3dbfd89919f8&ei=10
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob discusses the recent budget announcement and its implications for business taxes and the housing market. Key highlights include an increase in national insurance contributions for firms, a rise in the stamp duty surcharge on second home purchases from 3% to 5%, and a boost to the affordable homes budget by £500 million. Rob examines the potential impact of these changes on landlords and property investors, particularly regarding their willingness to purchase additional properties.
KEY TAKEAWAYS
National insurance contributions for firms will rise, with the earnings threshold decreasing from £9,100 to £5,000 and the rate increasing from 13.8% to 15% starting April 2025. The stamp duty surcharge on second home purchases in England and Northern Ireland will increase from 3% to 5%, effective October 31st. This change may impact landlords' willingness to buy additional properties. The current affordable homes budget, which runs until 2026, will receive an additional £500 million, although there are concerns about whether this is an effective solution to the housing supply issue. Social housing providers will be permitted to raise rents above inflation under a multi-year settlement, indicating a shift towards allowing market forces to dictate pricing. Analysts suggest that the increase in stamp duty could lead to a decrease in the supply of rental properties, potentially resulting in higher rents for tenants in the remaining homes.BEST MOMENTS
"Firms are to pay national insurance on workers' earnings above 5,000 pounds from April 2025... with the rate also increasing from 13.8% to 15%."
"The stamp duty surcharge... is to go up from 3% to 5%. By the time you listen to this podcast, that increase has already been put into effect."
"Analysts say this could affect landlords' willingness to buy more properties. If the supply of rental properties is squeezed, that could mean rents rise for tenants in the remaining homes."
"The current affordable homes budget... has been boosted by 500 million pounds. Time will tell if that’s the best thing to do."
"It is just a numbers game. It's not a death knell. It's not all doom and gloom. It just creates more opportunities."
VALUABLE RESOURCES
https://www.bbc.co.uk/news/articles/cx25w7qpr0yo
https://www.bbc.co.uk/news/articles/cdxl1zd07l1o
https://www.gov.uk/government/news/chancellor-to-unlock-housing-in-first-budget
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob discusses the potential benefits of green retrofitting for landlords, as highlighted in a recent article from the Evening Standard, highlighting findings from a survey by Mortgage Works, revealing that energy-efficient properties can command significant price premiums and rental boosts. However, Rob raises concerns about the lack of comprehensive data and the cost-benefit analysis of improving Energy Performance Certificate (EPC) ratings, arguing that while moving from a D to a C rating may be straightforward and cost-effective, achieving higher ratings like A or B can be challenging and expensive, often negating the financial benefits.
KEY TAKEAWAYS
Improving the energy efficiency of buy-to-let properties can potentially increase property values and rental yields, with properties rated A or B attracting a price premium of approximately 10.9% compared to D-rated properties. The article discussed does not adequately address the cost-benefit analysis for landlords considering improvements to EPC ratings. For instance, the cost to upgrade from a D to a C rating may equal the premium gained from the sale. Achieving an A or B rating in older properties is challenging and often requires significant investment in improvements such as insulation and solar panels, which may not be feasible for all landlords. Many landlords may not have the financial resources to make extensive improvements, and the assumption that all landlords have substantial cash reserves is misleading.BEST MOMENTS
"According to the Evening Standard, green retrofitting can improve property values and rental yields for landlords."
"If you have a more energy efficient buy-to-let property, i.e. with a rating of A or B, then this could attract a price premium of 10.9%."
"I would argue that getting up to a C rating is probably quite straightforward and probably quite cost-effective."
"To me, the economics just do not make sense whatsoever."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/homeandproperty/green-retrofitting-can-improve-property-values-and-rental-yields-for-landlords/ar-AA1sqs7n?ocid=winp2fptaskbar&cvid=ee15db42cd934b45dd5087238ec4c5bc&ei=15
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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Rob delves into the ongoing housing crisis in England, highlighting a significant shortfall in social housing availability. Drawing from a BBC article, the discussion reveals that over 1 million families are on waiting lists for social homes, while only a fraction of the required new builds are being completed each year. Rob explores the complexities of the housing market, including the challenges faced by housing associations, rising interest rates, and the impact of inflation on construction costs.
KEY TAKEAWAYS
There is a significant housing crisis in England, with over 1 million families and individuals on the waiting list for social homes. The demand for housing far exceeds the current supply, affecting both social and private rented housing. Experts estimate that 90,000 social homes need to be built annually for the next decade, yet only about 5,000 were completed in the past year. This shortfall is contributing to the ongoing crisis. Housing associations, which are crucial for providing social housing, are facing financial difficulties. They have less cash available to purchase new properties due to rising costs and limited rental income, which is often capped by government regulations. Rising interest rates and increased costs for materials and labor are making it more challenging for developers to undertake new housing projects. The base interest rate has risen significantly, affecting mortgage rates and overall project viability.BEST MOMENTS
"England has a housing crisis... the demand for housing in this country is substantially higher than supply."
"Experts believe that 90,000 social homes need to be built every year for a decade in order to house everyone, but supposedly reported that less than 5,000 were completed in the past year."
"Housing associations are making less money and renting out social homes too."
"If the numbers of the development don't work, or the numbers of the deal do not work in general, then don't do the deal."
VALUABLE RESOURCES
https://www.bbc.co.uk/news/articles/czegynwy938o
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
-
Rob discusses the complexities of energy policy in the UK and its direct impact on property bills. Following a critique of previous episodes that discussed simplistic energy-saving tips and renewable energy ideas, the discussion focuses on the pressing need for more baseload energy sources, particularly nuclear power, to stabilise energy prices. Rob outlines the factors contributing to the rising standing charges on energy bills, including grid maintenance, meter installation costs, investments in renewable energy, and government programs for vulnerable households.
KEY TAKEAWAYS
The current energy policy in the UK is flawed, lacking in energy security and relying heavily on unreliable renewable sources like wind and solar, which do not provide baseload energy. Baseload energy sources such as oil, gas, coal, and nuclear are essential for maintaining stable energy prices. The push towards net-zero without adequate baseload energy solutions is problematic. The standing charge on energy bills is composed of four main factors: grid maintenance, the cost of installing meters, investments in renewable energy sources, and government programs aimed at helping vulnerable households. Investments in renewable energy projects, while appearing beneficial, ultimately contribute to rising standing charges and energy costs for consumers, as these costs are passed down through energy bills.BEST MOMENTS
"Our energy policy in the UK is screwed up. That's plain and simple. We don't have very good energy security."
"Nuclear is the answer. Nuclear will produce a hell of a lot of electricity."
"Wind and solar do have a small place on the table, but they are not baseload energy. They are fluctuating energies."
"The standing charge is calculated with a funky old calculation, but it covers a multitude of expenses."
"Scrapping the standing charges would be the best thing moving forward. That would save people a hell of a lot of cash."
VALUABLE RESOURCES
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
-
Rob looks at eight renewable energy ideas for homes, while critically examining the practicality of each suggestion. Drawing from an article by The Eco Expert, he highlights the disconnect between eco-friendly initiatives and the realities faced by homeowners, particularly in urban settings.
KEY TAKEAWAYS
Many renewable energy ideas, such as solar panels and heat pumps, may not be practical for the majority of homeowners, especially those living in urban or terraced houses without suitable roof space or insulation. The installation costs of renewable energy systems can be significant, and not everyone has the financial means readily available to invest in these technologies. Technologies like domestic wind turbines and biomass heating systems may only be feasible in rural areas or for those with specific property types, making them unsuitable for most urban residents. There is a concern that eco companies may promote renewable energy solutions that are not universally applicable, potentially driven by government subsidies rather than genuine practicality for the average homeowner.BEST MOMENTS
"The information that they're pushing out, and then the reality of this, or the reality of the implementation, are two different things."
"If you don't have the right roof or pointing in the right direction, it can be quite difficult and not everyone is going to have X amount of pounds just sat in the bank."
"If your other insulation measures aren't up to scratch, i.e. you live in an old home, it's got solid walls, there's no insulation on them, then you are very likely not going to benefit from having a heat pump."
"You try installing a domestic wind turbine in a set of mid-terrace properties. I imagine that is not going to help at all."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/other/eight-renewable-energy-ideas-for-your-home/ar-BB1oOBuE?ocid=winp2fptaskbar&cvid=c51c6a96d97340d8fdaa5151ee86eaec&ei=11
GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
SOCIAL MEDIA/CONTACT US
https://linktr.ee/thepropertynomadspodcast
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
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