Episodes
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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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Episodes manquant?
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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
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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
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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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Rob explores six supposedly simple ways to cut energy bills, drawing insights from a Daily Express article. He offers practical tips for homeowners and landlords alike, such as heating only the rooms in use, using tin foil on radiators to enhance efficiency, and improving insulation through draft proofing.
KEY TAKEAWAYS
Focus on heating only the rooms that are actively being used. Adjusting the thermostat down by one degree can also contribute to energy savings. Placing tin foil behind radiators can help reflect heat back into the room, improving radiator efficiency and making it a simple and effective solution. Enhancing insulation through draft proofing windows and doors, as well as considering loft insulation, can significantly reduce heat loss and energy bills. Regularly turning off appliances at the wall instead of leaving them on standby can help lower energy consumption, although the impact may be minimal compared to rising energy prices. While using eco-settings on appliances may seem beneficial, they may not always yield the best results. Additionally, switching to renewable energy sources like solar may not be financially viable or practical for everyone, despite being presented as a simple solution.BEST MOMENTS
"If your tenants then don't know how to potentially save a bit of cash on the bills, that might put them in a situation where, you know, do they either pay the heating or pay the rent?"
"I don't like the suggestion. I don't think this works for everyone because there are some times where a 30 degree wash just doesn't cut it."
"Turning off standby is a very simple thing to do to turn off standby. Highly recommend you do it."
"Switching to renewables can be done, but it's not necessarily for everyone. It might not be financially viable."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/other/six-simple-ways-to-cut-down-your-heating-bill-in-october-by-an-energy-expert/ar-AA1ruNFt?ocid=winp2fptaskbar&cvid=09c076f20c204264e472f87800a78a95&ei=9
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 shares seven essential tips for growing a property empire, drawing from nearly nine years of experience in the property sector. He emphasises the importance of integrity in business dealings, networking with knowledgeable individuals, and connecting on shared interests beyond property.
KEY TAKEAWAYS
It's essential to follow through on commitments to build trust and rapport with vendors, estate agents, and partners in the property sector. Surrounding yourself with knowledgeable individuals can enhance your learning and growth in the property industry. Aim to be the least experienced person in the room to maximise your learning opportunities. Engaging in conversations beyond property can foster deeper connections and create a more enjoyable networking experience, potentially leading to future business opportunities. Understanding your motivations for building a property portfolio is crucial. This clarity can reignite your passion and drive, especially during challenging times. Consistency in networking, property viewings, and maintaining relationships is key to building rapport and increasing your chances of success in the property market. Celebrate your wins and learn from setbacks to maintain emotional consistency.BEST MOMENTS
"If you say you're going to do something, then go and do it. Because that can help to build rapport quite quickly."
"Always try and be the dumbest in the room. If you go into a networking event and you have the least experience, chances are you're going to learn the most."
"If you're always putting yourself in a position of wanting to add value and help others, then the law of reciprocity means that will come back and favour you at some point."
"If you don't know why you're doing something, then you shouldn't be doing it."
"Be consistent with what you're doing. There are very good days in property. There are some very bad days in property."
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 potential for the Bank of England to lower interest rates in the upcoming meetings on November 7th and December 19th. Reflecting on previous predictions, he acknowledges the conflict between economic theory and property market realities, emphasising that while interest rates should ideally rise to combat inflation, a decrease could present opportunities for property investors.
KEY TAKEAWAYS
There is a belief that the Bank of England will lower interest rates in the upcoming meetings on November 7 and December 19, despite the ongoing battle with inflation. A decrease in interest rates is expected to lead to lower mortgage rates, presenting an opportunity for individuals to lock in long-term fixed deals. Lowering interest rates could exacerbate inflation, potentially leading to a cycle where inflation spikes again, prompting the Bank to raise rates in the future. Factors such as government spending and global conflicts can contribute to inflation, affecting prices across various sectors, including oil, which has a broad impact on the economy. It is recommended for property investors to consult with mortgage brokers to understand the implications of changing interest rates and to strategise for their portfolios accordingly.BEST MOMENTS
"The Bank of England base rate is currently at 5%, but they have two meetings left this year... I believe they will lower rates again."
"Should those rates go lower, then the knock-on effect is that mortgage rates will likely come down."
"What creates inflation? Well, a lot of government spending on incorrect things creates inflation."
"Should interest rates go down... to me, that's a wrong move. That's not a good move economically."
"Doing the right moves at the right time will have very good implications for your portfolio moving forward."
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 Labour Party's proposed housing reforms, which include a ban on landlords raising rent more than once a year and restrictions on rental bidding wars. He critiques these measures, arguing that they reflect a misunderstanding of market forces and historical lessons regarding price controls. The episode also highlights concerns about the treatment of private landlords compared to social housing landlords, questioning the fairness of the proposed regulations.
KEY TAKEAWAYS
Labour is looking to implement reforms that would limit landlords to raising rent only once a year and tie any increases to a market rate, which raises concerns about the effectiveness of such price controls. The proposed ban on rental bidding wars and restrictions on landlords accepting housing benefit claimants could suppress the free market, potentially leading to negative consequences for both landlords and renters. There is a perceived disparity in how private landlords and social housing landlords are treated under the proposed regulations, with concerns that social housing issues are being overlooked while private landlords face stricter scrutiny. Abolishing no-fault evictions could create significant delays in the eviction process, leaving landlords vulnerable to financial losses if tenants stop paying rent, as the current court system already has long wait times. There is a strong argument for equal treatment of all landlords, regardless of whether they are private or social, emphasising that both good and bad landlords should be held to the same standards to ensure fairness in the housing market.BEST MOMENTS
"Labour are looking to ban landlords from raising rent more than once a year. This is a part of a set of housing reforms that Labour are looking to push through."
"If price controls don't work then rental controls are not going to work either. Yet it seems though that the people in charge do not like to look at history."
"You're trying to suppress the market. It does not work. What we've got to do is go through years and years of history to show it will not work."
"Finding is it seems to be it's one rule for private landlord and one rule for social housing landlord, and that is unacceptable as far as I'm concerned."
"Bad landlords should be punished. Absolutely. But bad landlords, whether they're private or social, should be treated the same."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/other/labour-to-ban-landlords-from-raising-rents-more-than-once-a-year/ar-AA1qmE42?ocid=winp2fptaskbarhover&cvid=661c30f07e314bcc9fa6f0266e08c17a&ei=12
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 revisits the impact of council tax hikes on second homes in Wales, particularly focusing on Pembrokeshire. He looks at the significant increase in second homes on the market, which has risen from 38 in July 2023 to 135 in July 2024, largely attributed to a drastic 300% council tax increase for second homeowners. The conversation highlights the ongoing tensions between local residents, tourists, and second home owners, emphasising the complexities of finding a one-size-fits-all solution.
KEY TAKEAWAYS
In Pembrokeshire, council tax for second homes has increased dramatically, with some homeowners facing a 300% rise. This has led to a significant increase in the number of second homes on the market, indicating that many owners are selling due to the financial burden. Local people often complain about high property prices and a lack of available homes, while businesses rely on tourism for revenue, creating a challenging dynamic. The policies aimed at making housing more affordable, such as increased council tax for second homes, may have unintended negative consequences. Instead of helping local residents, these measures could harm local businesses and the economy by driving away tourism. With only 20 to 30 houses built in the Newport area over the last 30 years, there is a clear need for more construction to meet demand and stabilise prices.BEST MOMENTS
"Pembrokeshire has done is they've been a bit too draconian here and they have trebled their council tax bill."
"If you want prices to come down, you probably have to flood the market with properties. That really means building a lot more."
"If the local people aren't able to afford these homes, then you're going to have a lot of property that's going to be sat empty."
"Raising council tax rates isn't going to do the job because the very people you're trying to protect and help... they're going to get screwed over more than likely."
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 contentious topic of new build properties, sparked by a troubling article about a housing estate in Cambridge developed by Bellway. He discusses the various issues faced by homeowners, including significant construction flaws and poor customer service, which raise questions about the overall quality and value of new builds.
KEY TAKEAWAYS
New build properties often come with significant issues, such as poor workmanship and unresolved snags, which can lead to a negative experience for homeowners and investors alike. For investors, new builds are generally not worth the investment unless purchased at a substantial discount below market value. The potential for profit diminishes when buying at standard prices. There is a growing concern that the quality of construction in new builds is declining, with reports of serious issues like leaking bathrooms, improperly installed fixtures, and unsafe structures. Many homeowners have reported difficulties in getting timely responses and resolutions from builders like Bellway, leading to frustration and a sense of neglect regarding their concerns.BEST MOMENTS
"As an investor, buying new built, when it's built, unless it's ridiculously below market value, I would urge not to do it."
"You don't expect three major leaks in your bathroom, a downstairs radiator to be plumbed into the upstairs and vice versa."
"It seems that a lot of house builders... are taking less and less responsibility, and that's unacceptable."
"These levels of issues are becoming more prevalent. They are becoming almost like the norm, and that is unacceptable."
VALUABLE RESOURCES
https://www.bbc.co.uk/news/articles/c3ej5v1ney1o
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 challenges landlords face regarding eco-upgrades and Energy Performance Certificate (EPC) ratings, particularly in light of the Labour government's mandate for a minimum EPC rating of C by 2030. The episode highlights a recent article from The Telegraph, which claims that landlords may not recoup their investments in costly green upgrades. Rob focusses on the lack of correlation between improved EPC ratings and increased property values, making it a risky investment for landlords.
KEY TAKEAWAYS
Landlords must achieve an Energy Performance Certificate (EPC) rating of C by 2030, which may require significant financial investment in eco-upgrades. Upgrading properties from a G rating to a C rating can cost around £27,000, while moving from a D rating to a C rating may cost approximately £10,000, depending on the property's current rating. There is no solid data to support that improving an EPC rating will increase the property’s market value, leading to concerns among landlords about the return on their investment in eco-upgrades. An article from PropertyMark suggested five ways to boost a Victorian property's EPC rating, but some recommendations, such as turning down the thermostat and adding roller blinds, do not actually impact the EPC rating. Many landlords are facing financial strain due to the costs associated with meeting EPC requirements, which may lead some to sell their properties rather than invest in necessary upgrades.BEST MOMENTS
"Landlords are not going to get their money back if they've done costly eco-upgrades."
"There is no hard data to suggest that a higher EPC rating leads to a higher value of the property."
"Turning down the thermostat isn't going to increase your EPC rating."
"If you have a chimney that's open and you don't have a working fire, then draft proofing the chimney... will actually improve the EPC rating."
"Landlords are between a rock and a hard place at the moment."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/homeandproperty/landlords-won-t-get-money-back-after-costly-eco-upgrades/ar-AA1pKQpQ?ocid=winp2fptaskbar&cvid=aa2983d6b21f47b1d45fdfa886d10ec5&ei=4
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 alarming trend of landlords in London selling their properties, which has reached a 10-year high. This surge is largely attributed to the anticipated changes in capital gains tax, expected to be announced in the upcoming autumn budget. Rob delves into the broader implications of these potential tax hikes, including the impact on housing supply and rental prices, as well as the challenges posed by rising mortgage rates and energy efficiency regulations.
KEY TAKEAWAYS
Landlords in London are selling properties at a 10-year high, largely due to anticipated changes in capital gains tax rates, which may increase significantly. The potential influx of properties for sale could flood the market, potentially suppressing property prices in the short term. However, this could lead to a decrease in rental property supply, driving rental prices higher. Despite claims of decreasing inflation, the reality is that many costs, such as fuel and food, have risen significantly, indicating that the economy is not as healthy as portrayed. The proposed tax changes and increased regulations, such as energy performance certificate requirements, could lead to higher rental prices, further trapping tenants in a difficult housing market. There is a need for government action to increase the supply of rental properties rather than imposing tax increases and regulations that could harm both landlords and tenants.BEST MOMENTS
"London landlords selling up has hit a 10-year high... it seems highly likely that there are going to be changes to capital gains and the way that it is taxed."
"If demand remains the same... then your price will go higher. Then people that are renting are going to be even more trapped than they might already feel."
"The same government will then argue that they're trying to protect the renters... when really they're just lying out their ass."
"What we're hearing... the higher tax rate is going to increase from 20% to 45%. That's not good at all."
"We're basically in a scenario where it's no bueno. It's no good, as we say. And it's only going to get worse."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/other/london-landlords-selling-up-hits-10-year-high-as-capital-gains-raid-looms/ar-AA1pUcOt?ocid=winp2fptaskbar&cvid=0cd5d7b0e5e9448b9304ed95d42f796d&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 planning challenges faced by Jeremy Clarkson at his Diddly Squat Farm in West Oxfordshire, as showcased in the popular series "Clarkson's Farm." The discussion highlights Clarkson's attempts to build a restaurant and farm shop, which have been met with repeated rejections from the local council due to concerns over parking and local transport. Rob explores the broader implications of planning issues in the UK, particularly the impact of NIMBYism (Not In My Backyard) and the slow bureaucratic processes that hinder development.
KEY TAKEAWAYS
There are significant planning issues faced by Jeremy Clarkson in his efforts to develop Diddly Squat Farm, particularly in relation to building a restaurant and farm shop. A positive outcome from Clarkson's experiences is the introduction of "Clarkson's Clause," which allows farmers to convert unused buildings into homes or shops without needing planning permission. The slow and bureaucratic nature of local councils can hinder development projects despite offers of solutions from entrepreneurs and builders. To meet housing targets, such as the proposed 1.5 million new homes by 2029, there is a call for reforming the planning process to facilitate quicker and more efficient development.BEST MOMENTS
"Planning can be an absolute pain in the backside."
"Clarkson went back and said, well, that's not a problem. What we can do is we can build this car park here."
"It always feels that either the council don't like it or there is someone within that constituency that will kick up a fuss."
"This program will probably make your blood boil a little bit."
"If Jeremy Clarkson has listened to this, thank you very much because what you've done for your Clarkson's Farm is provide a lot of very useful information."
VALUABLE RESOURCES
https://metro.co.uk/2024/05/21/clarksons-farm-just-changed-law-20882369/
https://www.express.co.uk/showbiz/tv-radio/1940651/jeremy-clarkson-issues-clarksons-farm-axe
https://uk.news.yahoo.com/jeremy-clarkson-councillors-threats-144729472.html
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 ongoing issues surrounding cladding in UK housing, particularly in light of a recent fire in a tower block in Dagenham. Drawing parallels to the tragic Grenfell Tower fire in 2017, he highlights the alarming safety concerns related to building materials and the potential negligence in planning approvals.
KEY TAKEAWAYS
The recent fire in a Dagenham tower block has reignited discussions about cladding safety, highlighting ongoing issues since the Grenfell Tower fire in 2017, which resulted in significant loss of life and raised questions about building regulations. Eyewitness accounts from the Dagenham fire indicate that fire alarms and sprinkler systems may not have functioned properly, raising serious concerns about the safety measures in place within high-rise buildings. There is a growing demand for accountability in the housing market, particularly regarding how buildings with potentially unsafe cladding have been approved. Trust in builders and the housing market is crucial for future developments. Residents of buildings with cladding issues may face increased insurance costs, difficulties in selling their properties, and rising service charges, which can lead to financial strain and decreased property values.BEST MOMENTS
"What's alarming is that people... were trying to set off the fire alarms... that either the fire alarm sprinkler system wasn't working or the alarms weren't working."
"If cladding has been faulty or incongruent with the building itself or building rules and regulations, then there has to be some accountability there."
"This is one of those expenses that is... necessary, because you're dealing with people's livelihoods here."
"If you're going to do something, do it properly, and ideally do it right first time."
VALUABLE RESOURCES
https://www.bbc.co.uk/news/articles/c8er93k051xo
https://www.bbc.co.uk/news/articles/c07e5ke71kmo
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 impending tax increases that are likely to affect the property market in the UK. The Chancellor's sudden realisation of a £22 million black hole in public finances has prompted the government to consider raising taxes rather than cutting down on spending. Rob stresses the importance of having a strong power team, including a good accountant and tax advisor, to navigate these potential tax changes and remain tax-efficient.
KEY TAKEAWAYS
Tax increases are likely coming for property owners due to a £22 million black hole in public finances. Having a strong power team, including a good accountant and tax accountant, can help mitigate the impact of tax increases on property businesses. Potential tax increases could include changes to capital gains tax, income tax rates, corporation tax, VAT, national insurance, and inheritance tax. The government may target smaller landlords with tax increases, potentially impacting how property businesses are operated. Despite the looming tax increases, having a good power team can help navigate and minimize the impact of these changes on property investments.BEST MOMENTS
"Tax increases are coming your way. Property is likely to be included."
"Argentina, with Javier Melo, who has gone in, attacked the Argentinian economy with a chainsaw, as he said he would, and has turned Argentina's budget deficit into a budget surplus."
"We were once a shining light on the world. You know, we're not really anymore, but we like to poke our noses in every now and then."
"Always have a good power team. Always have a very good team around you. They will help you."
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 Labour Party's plans for the rental market, discussing 12 key policies that could potentially impact landlords and tenants. He covers a range of topics, including the abolition of Section 21 evictions, increasing tenant protections, introducing rent caps, implementing AWAB's law for hazard fixes, and setting new energy efficiency standards.
KEY TAKEAWAYS
Abolishing Section 21 evictions could have pros and cons, affecting landlords and tenants. Implementing rent caps and banning rental bidding wars may suppress the free market. Strengthening energy efficiency standards and removing the mandate to replace gas boilers by 2030 are part of Labour's plans. Building 1.5 million new homes and introducing stable tax rates are also on the agenda. Strengthening local councils' enforcement powers could impact both private and social housing landlords.BEST MOMENTS
"Getting rid of section 21, we're against it, we don't think it's a good idea because the court system, the court process at the moment is very very slow."
"Banning rental bidding, again, doesn't make sense. It's shooting people in the foot, because again, you're suppressing the free market."
"The fact that gas boilers will still be around and about is a very good thing because we're already seeing a lot of people with fuel poverty."
"I do think the idea is good, but you need to have accountability across the board. Because what I'm seeing is it seems to be one rule for private landlords, yet it's a different rule for social housing landlords."
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 presents examples of social housing mismanagement, highlighting the disparities in accountability between private landlords and social housing landlords. The episode delves into cases where social housing landlords have failed to meet basic safety standards, such as providing electrical safety certificates or carrying out necessary repairs.
KEY TAKEAWAYS
Social housing landlords seem to be held to a different standard compared to private landlords when it comes to meeting property maintenance criteria. There is a perceived lack of urgency and accountability for social housing landlords in addressing tenant complaints and property issues. Clarion, the largest housing association in the UK, was fined for failing to repair a child's bedroom window for four years, leading to health issues for the family. The discrepancy in consequences between private and social landlords for similar property maintenance failures is concerning and unjust. It is crucial for all landlords, regardless of ownership type, to prioritize property maintenance and timely resolution of tenant complaints to ensure tenant safety and well-being.BEST MOMENTS
"The private landlord hasn't met a criteria and has been given a fine, and quite rightly so. Social housing landlord, hasn't met a criteria, no accountability, doesn't matter by the sounds of it."
"I think if you're going to have these rules for not meeting EPC standards or not having your gas safety certificate or electrical safety certificate in place, then we should all be hit with the same brush."
"According to Clarion, they said, and I quote, 'we apologise sincerely to the resident and their family. In this case, the issue took too long to resolve and our communication was not good enough.'"
"If it took you four years to fix a window, you can guarantee your arse health and safety, environmental health, are right on you. They're going to be on you like a dog on heat."
"If you're gonna throw the book at people, throw the book at everyone, no matter how many properties you've got, you must get back and do your repairs. You've got to have good maintenance throughout your portfolio."
VALUABLE RESOURCES
https://www.msn.com/en-gb/news/uknews/uk-s-biggest-housing-association-fined-over-four-year-failure-to-fix-window/ar-AA1oGgYp?ocid=winp2fptaskbar&cvid=381c6dbe5be548fbd3f5f64f882b5413&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
-
Rob discusses the ineffectiveness of rent controls in the property market. Drawing on examples from history and recent studies, he highlights how rent controls can actually push up prices, reduce the number of available properties, and lower the quality of housing.
KEY TAKEAWAYS
Rent controls have been shown to push up prices, reduce the number of properties available, and lower the quality of housing according to 200 studies. Implementing rent controls can lead to a decrease in supply, an increase in demand, and ultimately result in higher rents. History has repeatedly shown that price controls, including rent controls, do not work effectively. Scotland's introduction of rent controls led to a depressed property market, less house building, and financial challenges for social housing providers.BEST MOMENTS
"Rent controls do not work. History has shown that that's the case, yet people, politicians, seem to not want to learn this."
"If they were to go down the rent control route, it will be under the assumption of protecting renters, but it will have the opposite effect."
"Tenants are complaining about the price of how much their rent costs up and down the country."
"Labour government are potentially looking to introduce measures to curb soaring rent, but rent controls do not solve the issue."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/homeandproperty/rent-controls-drive-up-prices-for-tenants-as-khan-pushes-for-new-powers/ar-AA1oTxxk?ocid=winp2fptaskbar&cvid=5e89594eb4394cf6f3a0be203435ae2c&ei=10
https://www.bbc.co.uk/news/articles/cj627rr3wk9o
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 what he considers to be one of the worst property deals in history involving Birmingham City Council. The council is facing a loss of 300 million pounds after selling off 755 properties from the athletes' village built for the 2022 Commonwealth Games. Rob examines the lack of foresight and planning by the council, highlighting the high loan-to-value ratio and the failure to consider alternative strategies.
KEY TAKEAWAYS
Birmingham City Council is facing a significant loss of 300 million pounds by selling off 755 properties from the athletes' village homes built for the 2022 Commonwealth Games. The council's lack of foresight and failure to have a backup plan has led to this disastrous property deal, resulting in a burden on taxpayers. The council borrowed a significant amount, with a loan-to-value ratio of about 85-90%, which is uncommon in private property investment. Despite retaining 213 newly built homes, the decision to sell off 755 properties seems illogical and detrimental to the community. The council's reasoning of a lack of market appetite in the area where the properties are located raises questions about their decision-making process.BEST MOMENTS
"Birmingham hosted the 2022 Commonwealth Games and as with most sporting events they're very prestigious but they don't actually necessarily do the economy in the grand scheme of things."
"Local MPs have come out and said that it's, and I quote, an absolute scandal, end quote, and that the Labour-led authority had agreed last week, or a little while ago, to sell more than 700 homes to a private company, and that's resulted in a £300 million loss."
"Taxpayer funds have been used to build some infrastructure in order to host the Commonwealth Games. They have now been hosted. And as a result of that, people of Birmingham are left with this white elephant of a project."
"So they're selling off 755 properties to a private bidder, bidder's yet to be named, that's going to result in significant loss to the public purse."
VALUABLE RESOURCES
https://www.msn.com/en-gb/news/uknews/birmingham-council-to-sell-off-athletes-village-homes-at-more-than-300m-loss/ar-AA1oJkqN?ocid=winp2fptaskbar&cvid=7757e87e44f941b2e6790a54417f7887&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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