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Landlord Jailed for Filming Tenants

Published On: May 27, 2015 at 11:20 am

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Landlord Jailed for Filming Tenants

Landlord Jailed for Filming Tenants

A landlord in Edinburgh has been jailed for using hidden cameras to film tenants.

Jonathan Hartwell, 39, recorded his tenants on the toilet, in the shower and asleep in bed at his rental flat between May and August 2014.

He was caught out when he allowed a couple to use the flat and they discovered a box featuring an inbuilt camera.

The police found more secret cameras in the bathroom and bedroom, Edinburgh Sheriff Court heard.

Hartwell was jailed for 12 months and put on the sex offenders register.

 

 

 

 

 

 

 

 

 

 

 

 

More £2m plus properties on market post election

Published On: May 27, 2015 at 10:44 am

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It has been less than three weeks since the Tories gained an outright majority victory in the General Election, but figures suggest there has already been a surge in high-value sellers returning to the market.

With fears of a mansion tax allayed, statistics gathered by GetAgent indicate that the number of houses listed as for sale over £2m have more than doubled in the two weeks since the election.

Increases

The lead up to the election saw a slowdown in the amount of expensive properties appearing on the market. Estate agents and wealthy investors were cautious with their cash in the face of uncertainty over just who would be next into number ten.

After the Conservative victory, GetAgent reports that more sellers have returned to the market. The estate agent comparison website looked at four leading property sites-Rightmove, Zoopla, OntheMarket and Prime Location, both in the four weeks leading up to the vote and the two weeks following the outcome.

Findings from the report show that in the week of April 9th 2015, 246 homes over £2m were listed for sale. Six weeks later and post-election, this figure had risen considerably to 639, an increase of 160%. All price brackets saw a 62% increase in the same time period.[1]

Co-founder of GetAgent, Colby Short, said that, ‘the increase in the number of £2m plus properties listed after the election clearly demonstrates the effect that the possibility of the mansion tax was having on the high-end property market. The fall in demand for these kind of properties pending the outcome of the election saw owners holding off listing them.’[1]

More £2m plus properties on market post election

More £2m plus properties on market post election

Time

Henry Pryor, a buying agent for well-off clients, was quick to point out that selling a high value home is not a quick process. He noted that, ‘it takes time to launch an expensive property properly-blue skies for the photos, and advertising deadlines for glossy magazines of two of three weeks all means sellers who waited for the results won’t be bringing their properties to market for another week or so. Those who had already planned to sell are certainly doing so-their gamble of waiting having paid off but there is no deluge.’[1]

Pryor believes that prices will remain roughly the same at the high-end of the market, with stamp duty changes that were introduced in December a factor. He said that, ‘someone buying a £2m property doesn’t face Labour’s £250 monthly mansion tax but does have to find £153,750 out of taxed income-53% more than they would have needed 12 months ago.’ Pryor feels that, ‘there will continue to be trophy sales that will hit the headlines but the wealthy still feel under the spotlight.’[1]

[1] http://www.theguardian.com/business/2015/may/25/number-of-2m-plus-homes-for-sale-more-than-doubles-since-election-tory-victory-mansion-tax?utm_content=buffera2688&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

 

Spring Cleaning Your Spending

Published On: May 27, 2015 at 10:44 am

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Categories: Finance News

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Now is the perfect time to spring clean your home, but this is also a great opportunity to have a thorough look at your finances. It is always a good idea to reorganise, make some extra cash and get the most out of your funds.

Read through the following tips and see your money grow:

  1. Find the best deals

It is always wise to save some money where you can and get the best deal out there. It can take time, but make a list of providers for each service. Research their offers and negotiate to match the deals you’ve found. However, look out for any penalties for leaving contracts early.

You could find great deals for:

  • Energy
  • Broadband and telephone
  • Mobile phone
  • Home insurance
  • Car insurance
Spring Cleaning Your Spending

Spring Cleaning Your Spending

You can also look around at different mortgages. Rates are very competitive at present and you could pay less every month by remortgaging.

Note in your diary or calendar when all of your contracts end. This way, you will be prepared for searching for better deals and avoid automatic renewals.

  1. De-clutter

When you’re spring cleaning your home, look out for anything that you don’t need, use or want. You could sell items and objects on eBay or Gumtree and earn yourself some spare cash.

  1. Your bank account

Either using online banking or paper statements, take a look through your bank account at any odd payments or high figures. You may have been overcharged or even be the victim of fraud. It is always sensible to review your spending.

Check any regular payments, such as Direct Debits. Look for any amounts that aren’t correct or double payments. If you find an error, the Direct Debit Guarantee protects you, so you can receive a refund from your bank.

Analyse your auto-renewals, making sure they are correct and cancelled arrangements are not still active.

You may also want to look at any bonuses your bank offers you, such as travel insurance or fraud protection, as buying them elsewhere may be cheaper.

You may find a better current account from somewhere else, as the market is competitive at the moment. Interest rates can be up to 5% AER, you may also receive cashback or get bonuses. These accounts will have requirements, so always read the terms and conditions. Also, ensure the new account is suitable for you.

  1. Savings

If you have an ISA or savings account, you may not still get the same interest rate as when you opened it if you were offered a bonus period. The rate could now be much lower, so find out what you’re on currently and look elsewhere for better rates.

You can read the Money Advice Service’s guide to cash savings here: https://www.moneyadviceservice.org.uk/en/articles/cash-savings-at-a-glance?utm_source=publish2&utm_medium=referral&utm_campaign=www.rightmove.co.uk

Homeowner Purchase Lending Up 16% in March

Published On: May 27, 2015 at 10:03 am

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Categories: Finance News

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Last week, the Council of Mortgage Lenders (CML) revealed new figures on the lending market in March and the first quarter (Q1) of 2015, split up into trends for first time buyers, home movers, remortgages and buy-to-let.

Director General of the CML, Paul Smee, says: “It was a slow start to activity in the first couple of months of 2015, but the market started to get out of the dip in March, a trend that we think will continue as the year goes on.

“We will have to wait and see how the housing market reacts to the general election result and the reduction in the risk of a prolonged period of market uncertainty which could well have been damaging to businesses and the housing market.”1

Gross mortgage lending hit £16.1 billion in March, an 18% rise on February’s total and 5% more than lending in March 2014. Gross lending for the whole of Q1 2015 was £44.5 billion, down 13% on Q4 2014 and a year-on-year decline of 4% on Q1 2014.

Homeowner house purchases

Lending for homeowner house purchases grew monthly in volume to 48,200 in March, a 16% rise on February, but a 4% decrease on March 2014. These loans reached £8.2 billion, up 17% on February and 4% annually.

In Q1 2015, loans advanced to homeowner for house purchases totalled 131,800, a 24% drop on Q4 2014 and 11% down on Q1 2014. These loans were worth £22.4 billion, down 23% on the previous quarter and a 5% fall on a yearly basis.

First time buyer purchases

First time buyers borrowed an average 3.36 times their gross income in March this year, the same as February. The typical loan size rose monthly to £123,290 in March, up from £122,285 in the previous month. The average gross income of a first time buyer household increased slightly to £38,500 in March from £38,085 in February.

First time buyers paid 18.8% of their gross income towards capital and interest payments in March, down from 19.1% in February, and much less than the peak seen in December 2007 of 24.8%.

In quarterly terms, first time buyers borrowed 3.37 times their gross income in Q1 2015, down from 3.38 in Q4 2014.

Homeowner Purchase Lending Up 16% in March

Homeowner Purchase Lending Up 16% in March

The average loan size for this type of buyer also dropped to £122,794 in Q1 2015 from £124,450 in Q4 2014. The typical gross income of a first time buyer household fell marginally to £38,139 from £38,324 in the previous quarter.

In Q1, first time buyers paid 19% of their gross income towards capital and interest payments, down from 19.2% in Q4 2014.

Home mover lending

Home movers were advanced mortgage loans 3.07 times their gross income in March, a slight rise from the 3.06 seen in February. The average loan size for home movers was £160,615 in March, up from £157,730 in February. The gross household income of a typical home mover was £54,135 in March, up from £53,514 in the previous month.

Home movers spent 18.3% of their gross income on monthly capital and interest payments in March, down from 18.5% in February and much lower than the 23.8% seen in December 2007.

In Q1 2015, home movers borrowed 3.06 times their gross income, a slight rise from 3.03 in Q4 2014. The average loan size also increased to £158,440 from £153,500 in the previous quarter. The typical gross income of a home mover household grew to £53,554 from £53,173.

Home movers paid 18.5% of their gross income on capital and interest payments in Q1, up from 18.4% in Q4 2014.

Remortgages

Remortgage lending rose monthly in March, with 26,600 loans advanced, up 19% on February and a 6% increase on March 2014. The value of these loans reached £4.2 billion, a 24% monthly rise. Annually, this was up 14% on March 2014.

In Q1 2015, remortgage lending grew 3% on the previous quarter to reach 75,400 loans. This was down 5% on the same quarter in 2014. The value of these loans also rose quarterly by 6% to £11.8 billion, up 2% annually compared to Q1 2014.

Buy-to-let lending

In March, 18,200 buy-to-let loans were advanced, a 12% increase on February and 21% up on March 2014. These loans reached a total of £2.7 billion, up 13% on February and 35% year-on-year.

The amount of buy-to-let loans for home purchases was 8,600 in March, an 8% rise on February and 13% higher than March 2014. These loans were worth £1.2 billion, a 20% monthly increase and 33% annual growth.

The number of buy-to-let remortgages rose 15% in March from February, hitting 9,400, a 29% increase on March 2014. The value of these loans was £1.4 billion, an 8% monthly rise and 27% growth on March 2014.

Q1 2015 saw buy-to-let lending accounting for 18% of all lending in the UK, the highest percentage of gross lending since quarterly records began in mid-2006. This was caused by a drop in remortgage and house purchase loans.

52,300 buy-to-let loans were advanced in Q1, down 3% on Q4 2014 but a 15% increase on the same quarter in 2014. These loans were worth £7.8 billion, up 1% on Q4 2014 and a 28% rise yearly.

Within this, 24,440 loans were for buy-to-let home purchases and the amount of loans for buy-to-let remortgages was 27,370, down 8% and up 2% correspondingly compared to Q4 2014. In Q1 2015, these buy-to-let loans rose 6% for house purchases and 23% for remortgages.

Loans for buy-to-let property purchases were worth £3.3 billion, down 8% on Q4 2014, but up 6% on Q1 2014. Buy-to-let remortgage loans stayed at £4.2 billion, an annual rise of 29%.

1 http://www.cml.org.uk/cml/media/press/4205

 

 

 

 

 

Further Welfare Cuts Could Cause Social Sector Issues

Published On: May 27, 2015 at 8:42 am

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If welfare funding suffers further cuts by the Government, then the social rental sector could experience spiralling rent arrears, tenant evictions and homelessness, warns a new report.

The study of 75 local authorities and housing associations in England by Grant Thornton UK LLP, estimates that the ongoing effects of bedroom tax, alongside plans to extend the benefit cap and impose additional limits to housing benefit, could cause more financial difficulty for tenants.

The report indicates that councils’ and housing associations’ ability to ease growing arrears problems has been reduced. Growing numbers are issuing possession orders to tenants who cannot pay the rent.

The document, titled Easing the burden: The impact of welfare reform on local government and the social housing sector, explored how local welfare has changed over the last two years from the eyes of local authorities and housing associations.

YFurther Welfare Cuts Could Cause Social Sector Issues

Further Welfare Cuts Could Cause Social Sector Issues

Most local authorities and housing associations reported an increase in average Council Tax and growing rent arrears since 2012-13, which they claimed was partly down to welfare reform.

Housing benefit reforms have caused people to move to smaller homes, but less than 10% of those affected have actually moved. This is due to a shortage of smaller properties.

Following the changes, 47% of local authorities and 51% of housing associations stated that housing benefit is substantially more expensive to administer, as cases are now more complicated.

Head of Local Government at Grant Thornton UK LLP, Paul Dossett, says: “In general, welfare reform has prompted an impressive response from many local authorities and housing associations, and has been a key driver for innovation and improvement.

“The question is: Can they continue to make efficient use of rapidly reducing resources? Our research suggests that without flexibility from Whitehall and further measures, such as devolution of welfare funding, this is unlikely.”

Dossett continues: “The collective impact of welfare reform on those in need of support is to some degree hidden due to the lack of data on the casual link between welfare reform and poverty. Our research found that only 42% of local authorities track poverty levels to measure the impact of welfare reform.

“We urge the new Government to consider carefully the impact of the cuts to welfare reform that are put forward, not just in isolation, but collectively. Whilst Whitehall fiscally sees only individual cuts to local authorities, the people affected and we, as auditors, see the cumulative impact.

“A significant cohort of people – both working and unemployed – will remain in need of support, so local authorities and housing associations will need to focus any available money on them. Further devolution of powers to local government for welfare administration could be the key to a sustainable future, especially if different agencies work together.”1 

The report highlights areas of national policy that could be better coordinated, so that the financial impact of welfare put on local authorities can be fully understood and better managed.

They include:

  • Building more homes to keep up with demand.
  • Health and social care integration, particularly following instances of hardship.
  • The policy that supports groups of foreign nationals who have bypassed official immigration channels.

1 http://www.scottishhousingnews.com/3517/england-social-landlords-welfare-expect-cuts-to-trigger-new-wave-of-homelessness/?utm_content=buffer729c1&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Illegal immigrant facing deportation after attack

Published On: May 26, 2015 at 4:39 pm

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An illegal immigrant tenant has been sent to prison and faces deportation following an attack on his landlord in a property in Wolverhampton.

Rashid Bomedian, a Moroccan national, punched and kicked the property owner in his rented accommodation, before throwing a bowl of spaghetti over the landlords’ head. Mr Bomedian was said to have carried out the attack after his landlord had reported him to the authorities, following Bomedian returning home with a stolen bicycle.

Attack

Last Thursday at Wolverhampton Crown Court, Mr Bomedian was sentenced to eight months behind bars, before being told that he would be deported on his eventual release.

The court heard that the Moroccan had stolen the bike after an altercation with its rightful owner outside a restaurant in the city on February 17th. Mr Bomedian’s landlord subsequently called the police and the tenant was arrested at the property. However, Bomedian was somehow able to flee the scene, despite being tasered.

Mr Howard Searle, prosecuting on behalf of the landlord, said that officers, ‘tasered,’ Mr Bomedian, ‘but he still got away. This allowed him to return to the address and confront the homeowner later that day.’[1]

On returning to the property, Bomedian attacked his victim, causing the landlord to suffer bruises, a swollen cheek and a cut lip. Additionally, he then stole the landlord’s mobile phone and then used a mattress to try and block off the front doorway. He was finally arrested and taken into police custody later that evening.

Illegal immigrant facing deportation after attack

Illegal immigrant facing deportation after attack

Deportation

Mr Bomedian’s defence team said that their client had come to the UK three years previously, after escaping persecution within North Africa. Defence lawyer Stephen Cadwalader, said thatm, ‘he wanted to make a better life for himself. Things were not good for him there. When police tried to arrest him he realized he hadn’t got a legitimate passport so he ran off.’[1]

Despite Bomedian later admitting causing actual bodily harm, escaping custody and theft, the judge was less than sympathetic. On sentencing, Judge Michael Challinor said that, ‘you will serve half of your sentence and then I anticipate you will be deported.’[1]

 

[1] http://www.expressandstar.com/news/local-news/2015/05/25/illegal-immigrant-facing-deportation-after-revenge-attack-on-landlord/