New online accelerated possession form

A new online form for accelerated possession & eviction of a tenant has just appeared on the government website.

This guidance has been prepared for landlords who wish to gain possession of a privately rented property let on an assured shorthold tenancy.

You are likely to be letting on an assured shorthold tenancy if:

• you are a private landlord
• the tenancy began on or after 28 February 1997
• the house or flat is let as separate accommodation and is the tenant’s main home

Initial reactions from landlords is that the form is easier to use than the N5B form which is the alternative. This is because the autofills and the date checker which makes it quicker to fill in and less likely that a landlord makes a simple error. There is always plenty of discussion around the questions posed by the N5B form on our forum.

The N5B form is a difficult one as there are a number of very ambiguous questions.
We found as part of our Property Hawk Training Event - Letting Essentials that the N5B workshop was particular helpful for our landlords.

New accelerated possession form

The new form may be slightly easier to use but it is not an online end to end possession solution.  What would be really useful is if landlords could not only fill out the form online but also upload a copy of the tenancy agreement and proof of service and then pay the £280 online.  All this could be done and the form could have a digital signature from the landlord.  

Having done all this online, all a landlord would need to do would be to press 'Submit' and the whole legal bundle of paper work and payment would be sent as one job lot to the relevant court.
Dream on landlords!

The Russian rouble has dropped to a new low against the US dollar.

The Russian central bank has announced it is hiking its key interest rate to 17% from 10.5%.

The bank said the move was to try to ease the rouble's recent descent in value. The Russian rouble has dropped to a new low against the US dollar, as falling oil prices and Western sanctions continue to weigh on the country's economy. 

It snapped back to 60 roubles per dollar from a low of 67 earlier. The 60 mark is considered a "psychological barrier" for Russia's national currency, says the BBC's Moscow correspondent, Steve Rosenberg.

LAST UPDATED AT 16 DEC 2014, 01:04*

CHART SHOWS LOCAL TIME

US Dollar v Russian Rouble

Since the start of the year, the rouble has lost more than 45% of its value against the dollar. Russia's central bank has tried unsuccessfully to stabilise the currency, buying roubles in the markets.

'Depreciation risks'

It has spent more than $70bn (£44.7bn) supporting the rouble since the start of the year.

"This decision is aimed at limiting substantially increased rouble depreciation risks and inflation risks," the central bank said in a statement. The decision is effective from Tuesday. 

The leap in rate follows an increase to the prior rate of 10.5% on 11 December and an increase of 1.5% to 9.5% in October. The World Bank warned the Russian economy would shrink by at least 0.7% in 2015 if oil prices do not recover. Raising interest rates has its own risks, as more expensive borrowing can itself slow growth. But it may also stem the tide of money leaving the country. 

Oil prices slumped to lows not seen for five-and-a-half years. US benchmark crude West Texas Intermediate traded at $55.91 per barrel, while North Sea Brent crude traded near $60 per barrel. Both markets have fallen by almost half since June.

http://www.bbc.co.uk/news/business-30490082#story_continues_2

http://www.bbc.co.uk/news/business-30431330

Our Landlords' Actual Savings

This is the area of the site where we get to brag about the savings our landlords make. We are very proud of the discounts that we have obtained for landlords so why not shout about it?

If you are a member and have made a great saving, please let us know. The more landlords that get great deals, the more members will join. The more members who join, the greater the group buying power and the bigger the discounts we can negotiate.

4th September 2012 - 

A member saves more than £740

Kitchen: xx Rosedale Road, Northampton, NN2 7xx

Range: Magnet Genoa Cream / Howdens Saponetta Cream     
                                                         Magnet      Howdens

Base Units
1x 600 base                         £39.69      £64.50
1x 600 washing machine              £18.90      £45.25
2x 400 draw line                    £85.86      £117.00
1x 600 cooker unit                  £29.16      £45.25
2x 600 end panel                    £11.50      £48.00
Integrated F/F unit                 £108.27     £134.75

                                    £293.54     £451.75
Wall Units:
1x 600                              £31.86      £54.25
8x 400                              £200.88     £346.00
2x 300                              £46.98      £79.50
6x 300 end panel                    £42.00      £124.80

                                    £321.72     £604.55
Other:
3x 3m torus beige matt worktop      £123.00     £222.60
5.6m torus beige upstand            £38.00      £66.15
4.3m Cornice                        £43.00      £75.2
4.3 pelmet                          £43.00      inc
6.8m plinth                         £55.50      £44.40
1 x steel splash back               £25.85      £40.00
1x sink / waste / tap               £63.00      £83.10
Handles – as supplied before        £17.00
4x delta lights (under cupboard)    £62.40      £50.40

                                    £458.25     £581.85
Appliances:
1x silver elec cooker               £134.88     £179.99
1x silver gas hob                   £75.68      Inc
1x silver chimney fan               £56.77      £15
1x washing machine                  £288.02     £347.70
1x fridge / freezer                 £277.45     £269.40

                                    £832.80     £812.09

Delivery:                           £0          £70

Total (exVAT)                       £1,903.31   £2,520.24
Total (incVAT)                      £2,283.97   £3,024.29
Diff                                (-£740.32)
          

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Cut on Duty... YaY!

Stamp duty will be cut for 98% of people who pay it. In George Osborne’s Autumn statement, it was announced that from Thursday 4 December stamp duty will be cut for 98% of people who pay it. What does this mean? Under the old rules if you bought a house for £185,000, you would have had to pay 1% tax on the full amount – a total of £1,850. From tomorrow, under the new rules, for the same property you'll pay nothing on the first £125,000 and 2% on the remaining £60,000. This works out as £1,200, a saving of £650. In Scotland the new rates will apply until 1 April 2015, when the Land and Buildings Transaction Tax replaces stamp duty in Scotland. The new rates of stamp duty are: Purchase price of property (£)  New rates paid on the part of the property price within each tax band   0 - 125,000  0%  125,001 - 250,000  2%  250,001 - 925,000  5%  925,001 - 1,500,000  10%  1,500,001 and over  12% Looking for further advice about what you should be paying? If you are in the process of buying a property, your solicitor or a independent conveyancer will work out the stamp duty you have to pay.