On Tuesday 30 May, David Coughlin, CEO National Residential and Landlord Sales Agency joined Paul Shamplina, Director of Partnerships at HFIS Group, as a guest speaker in LandlordZONE webinar ‘Think properties are taking a while to sell on the market? Think again!’‘.
Watch now to hear them discussing the market conditions, the problems landlords face and what landlords can to do to react to challenging issues such as interest rates, the abolishment of Section 21s and EPC upgrades.
Continue reading Think Properties Are Taking A Long Time To Sell? Think Again!
The advantage cash buyers have always held over house buyers needing a mortgage through an estate agent is in the speed they can complete.
Now the average time it is taking mortgage buyers to get a deal has almost doubled due to lenders being very, very cautious since interest rates have gone up and are expected to go up again, the advantage cash buyers have is even more persuasive.
To compound the problem for mortgage buyers, there are also huge delays in getting surveyors out to access properties. Of course cash buyers still need to do their due dilligence and also require surveys but they do not need to wait for lenders to review the surveys and any added delay makes cash buyer offers all the more attractive.
Continue reading Cash Is King
David Coughlin, CEO of Landlord Sales Agency recently joined forces with Paul Shamplina, the Founder of Landlord Action, TV presenter, author of articles, books and blogs as well as a regular speaker at property seminars and conferences, to identify and discuss key steps landlords need to take to achieve the highest profits from their portfolios in 2023. The webinar was watched bu hundreds of landlords and they were inundated with questions from those watching.
To read about the biggest issues vexing landlords right now or to watch a recording of the webinar, click here
House prices are predicted to fall following the end of the stamp duty holiday and tax bills are high. If you’re a portfolio landlord, now is the perfect window to sell part or all of your buy-to-lets, from the experts who know exactly how to do it, for the best price.
We’re all in the same boat, having built up a handful of properties in our portfolio, we’re now facing higher tax bills than ever before, and the fear of our portfolios losing their value when the stamp duty holiday ends. As a private landlord myself, I understand all the challenges landlords are facing right now. It’s why I believe we have the best team in the business to help, with over 20 years of experience behind us to solve every landlord problem, no matter what the problem. I’ve personally got 2,500 houses over the line and sold, even with tenants still in the properties. There’s no issue myself and my team can’t overcome, delivering win-win solutions for landlords, so they can sit back and relax knowing everything is in hand.
A study conducted by landlord insurance provider Simply Business found that over a quarter of landlords have already made the decision to reduce the size of their property portfolios. That number is set to increase as landlords cash in whilst they can still get the best prices before the 30st June. You need a company you can trust, who will take away the hassle, and make sure you get the best price, fast. That’s where we come in.
Continue reading Portfolio Landlords: Now is the time to sell your properties for the best price
Who Pays Capital Gains Tax (CGT)?
Capital gains tax on property Capital gains tax is payable on the sale of second homes and buy-to-let property. You generally won’t need to pay the tax when selling your main home (unless you have developed it to use parts of it for business)- however, you may also need to pay CGT if your home is partly used as a business premises, or you lease out part of your property.
Continue reading Capital Gains Tax Explained
For a landlord from Wandsworth who responded to our last email, that’s exactly how he celebrated his week when we sold his entire portfolio of 5 tenanted properties in less than a month, releasing over £500,000 in cash with zero hassle, worry or stress while we sorted out any problems on his behalf.
Established in 2006, it’s just one example of why we pride ourselves with our “any problem we can fix” formula, led by myself, founder and industry expert, David Coughlin.
Continue reading Landlord overjoyed as he sells his tenanted property portfolio with National Residential for half a million in just 26 days
My journey from modest beginnings to a Cambridge postgraduate owning a 100-property portfolio landlord is one of the private rental market’s more extraordinary journeys and one you can read here in full in Landlordzone’s spotlight feature on experts in the industry.
Now for the first time ever, I have decided to share my journey and expertise.
David Coughlin, CEO National Residential
Continue reading Mentoring Opportunities With David Coughlin
By David Coughlin, CEO National Residential.
We pride ourselves with our “any problem we can fix” formula.
David is a Cambridge postgraduate landlord who owns a 100-property portfolio. He is one of the private rental market’s more extraordinary journeys and has been featured in several Landlord organisations including Landlordzone’s spotlight feature on experts in the industry.
Take The Stress Out Of Trying To Sell A Property With Difficult Tenants
In these current times, there are a few challenges landlords may face when trying to sell their properties. Trying to sell a property while dealing with difficult tenants can be top of the list, but it doesn’t have to be.
It’s time to bring in the professionals to take those worries off your hands.
Continue reading The best way to sell properties with awkward tenants
If you’re a landlord, and you haven’t yet heard of us here at National Residential, there’s a good chance you’ll want to. Established in 2006, we pride ourselves with our “any problem we can fix” formula, led by myself, founder and industry expert, David Coughlin.
Helping Landlords Sell
Being a private landlord myself, with 100 properties in my portfolio, I first-hand understand the issues and challenges facing landlords today. It’s about overcoming solutions fast, but also in a way that means both the landlord and the tenant are happy. With National Residential, we’ve found the sweet spot when it comes to helping landlords sell, so we’ve become experts in taking away the stress. We know how to solve every barrier that landlords come up against, even for example when they can’t gain access to their own properties.
How do I get the best price for my buy-to-let?
This is where I and my team at National Residential go above and beyond to get you the highest price for your buy-to-let, no matter what challenges you need to overcome. Be that negotiating with your tenants, sorting out repairs, and even helping tenants relocate, we have the best team to do it all and have the track record to prove it.
The result? We deliver you the best price possible, fast, no problems.
Continue reading National Residential solve any problem to sell buy-to-lets for the best possible price.
Tax expert David James provides this advice for Investors.
HMRC has recently changed its guidance for stamp duty and multiple dwellings relief claims. How have the changes impacted you and are you entitled to a stamp duty refund?
Last month, HMRC changed its guidance surrounding the 3% stamp duty surcharge on second homes or property investments in the Stamp Duty Land Tax (SDLT) Manual. The changes state that the 3% surcharge will not apply if an investor purchases a non-residential property or a mixed-use property. These transactions will instead be taxed at the non-residential rates of stamp duty.
Also, when a buyer purchases more than one property in the same transaction or within a linked transaction, multiple dwellings relief is available. This can significantly reduce the stamp duty bill. However, when this relief is claimed on a mixed-use property, this is when things become complicated.
Continue reading The HMRC Changes To Stamp Duty Guidance Could Mean You’re Entitled To A Refund
The Property Redress Scheme is authorised by the Department for Communities and Local Government to offer redress to Lettings and Property Management Agents and the National Trading Standards Estate Agency Team (formally the OFT) to offer redress to Estate Agents.
The Property Redress Scheme is a new, straightforward and easy to use consumer redress (ombudsman) scheme for Property Agents and Professionals.
The main purposes of the Property Redress Scheme are to allow Agents to comply with their legal requirement to be a member of a government authorised consumer redress scheme and to settle or resolve complaints made by consumers against our Members.
Continue reading The Property Redress Scheme
From wanting to subsidize pensions to maintain a comfortable standard of living, to taking dream holidays, and/or raising cash to help family members in times of crisis; more and more people over the age of 55 are using wealth tied into the property they own to finance their life choices.
Most lenders now offer options such as Retirement Mortgages, Lifetime Mortgages, Drawdown Lifetime Mortgages, Pensioner Mortgages and Home Reversion Plans. They are aimed at people who want to raise cash from the equity in property without moving home but as people are living longer and/or taking retirement younger, they can all be very expensive options.
An alternative option that can be far cheaper and one that uses the wealth tied in a property rather than borrowing against it (as the options above do) is to downsize.
Here we look at the advantages and disadvantages of equity release compared to downsizing.
Continue reading Thinking Of A Retirement Mortgage or Other Form Of Equity Release? Read This First…
Waiting for viewings can be a stressful, and despairing time. Buyers are expected to present their properties to get the most from viewings and are often encouraged to declutter and/or to depersonalise and/or to keep properties clinically clean for viewings. While all those suggestions are excellent (see below for more of the same), keeping a home in pristine condition can be expensive, time consuming and stressful. It’s no wonder most people would prefer lots of viewings in a short time frame than maintaining often impractical and inconvenient standards over prolonged periods because of a lack of viewings.
On average, it takes 15-20 viewings to sell a property if it is priced appropriately for the market*. Properties that are suitable for large numbers of people, priced correctly and advertised widely should attract 1 or 2 viewings per week most weeks of the year to achieve the UK average of 3 – 4 months to sell.
* If a property is priced too high, sellers may find they attract lots of viewings but do not receive any offers.
Continue reading Get More Viewings To Sell Your House Faster
Selling an inherited house with or without a will can be a long, expensive process – especially if the property is empty while the will is being settled or the legal processes are being completed. Even simple wills can takes 9 – 12 months to settle. More complicated wills with money to collect from investments, savings and pensions or wills with money to pay in inheritance tax or debt can take considerably longer to be read.
Whether a person has written a will or not; before a beneficiary can sell an inherited property, they or an executor acting on their behalf must obtain legal confirmation of their authority to sell the property or transfer ownership of the inherited property. If a will has been written, the authority is called a Grant of Probate. If the deceased did not leave a will, the authority is called a Grant of Letters of Administration. Both documents grant the beneficiaries or executors legal authority to close bank accounts, sell shares and investments and sell or transfer property.
Even a straightforward estate with named beneficiaries and no legal challenges or debts to pay from the estate with the application submitted by a solicitor, can take two to three months to obtain authority to sell an inherited property while various legal and taxation checks are made. It can take even longer if the application is made by the beneficiary rather than through a solicitor, if inheritance tax is due or there are any other complications affecting the inheritance.
An inherited property cannot be sold until the authority has been granted or the property has been transferred to the name(s) of the person or people who intend to sell the property.
Keeping an empty inherited property secure (paying for empty property insurance, the cost of regular visits to the property as required by most empty property insurances) while paying liabilities (council tax, mortgage repayments etc) and keeping basic amenities such as electricity and water connected (to prevent weather related damage and to conduct viewings in an uncompromising environment) while ownership is transferred to beneficiaries then while a sale is found, agreed and completed can be expensive, time consuming and emotionally draining process that can easily take 12 – 18 months to complete.
In A Nutshell
We save our clients time and money by working with will executors and/or the beneficiaries’ solicitors to apply for a Grant Of Probate so that the ownership can be passed directly from the deceased to the new buyers when the authority is issued rather than transferred to from the deceased to the beneficiaries then to buyers. Upon completion, the proceeds from the sale can be distributed to the executor or directly to the beneficiaries.
The process saves our sellers money spent maintaining an empty property, land registry fees and duplicate solicitor costs (performing the same actions twice to transfer ownership to the beneficiaries than the new buyers).
Continue reading Selling Inherited Property Faster
The single most important thing to get right to sell your house fast is the asking price. Almost every property will attract attention from buyers if the price is right so if you aren’t even getting many viewings, it could be a sign that buyers think your asking price is too high for the size and type of property compared to others in your area.
Continue reading Setting A House Price
Are you looking for joint venture funding for your next property development?
Look no further… we want to talk to you!
We have vast experience in buying and selling and developing property projects. We also have funds available to help experienced investors fund their projects. So long as you have a project with equity and value in it we can fund up to 100% of the costs to build or develop in return for an agreed share of the eventual profits.
Unlike banks and other lenders, we are not giving you a loan we will not carry out credit checks. So long as the project stacks up we will fund 100% of the costs in return for a share of the profits and take our security on the property.
If you can demonstrate you have experience and a sound asset/project we’ll fund up to 100% of the development costs and in return, we’ll agree a share of the profits on completion. It’s that simple
Continue reading Joint Venture Property Investing
Landlords face many problems, most relate to property and/or tenants however ongoing economic and legislative changes have added a lot more things for landlords to worry about. Shrinking returns, increased costs, more rules, more penalties and the prospect of fewer options to end tenancies have resulted in more and more landlords selling some or all of their rental properties.
New Rightmove research indicates 24% of landlords are planning to sell at least one property from their current portfolio, 13% will be selling more than one and 11% report they wish to sell their entire portfolio. This is despite rents being at record levels having increased by 2% in the last year.
We take a look at some of the common problems forcing landlords to sell and how we can help landlords wanting to sell up because of them.
Continue reading Helping Landlords Solve Problems No Other Estate Agents Can Manage
Are All Property Auctions The Same?
ABSOLUTELY NOT – also, worthy of note: not all bidders are the same either – our auctions recognise that.
The method we use to sell property is often referred to as a ‘Modern‘ Property Auction’ (also known as conditional auctions). It is different to many other types of auction (offline and online) because of what happens when the bidding ends. In a Modern Property Auction when bidding ends the winning bidder pays a non refundable deposit to secure the property but the crucial difference is the winning bidders are given time to secure lending.
Because our auctions are open to private buyers with mortgage funding (not just cash buyers who are often developers looking to buy a property at rock bottom prices so they can make a profit when reselling), our properties typically sell for 10 – 15% more than similar properties sold at auction houses.
Our fees are lower too, (see next section)!
Similar to the ‘sealed bids’ process, in our auctions a winning bid is the BEST offer the seller chooses to accept which is usually but not always the highest bid. Like traditional auctions, all bids are legally binding and the bidding process is transparent so all bidders are kept informed of other bids throughout the process.
Continue reading Property Auctions
What Will Happen To House Prices After Brexit?
A lot of people have speculated about what will happen to house prices after Brexit. The uncertainty has had a dire affect on the housing market with fewer buyers, fewer sellers and sales taking longer to complete. Despite the smaller volumes of trade and slowed growth rate, house prices have largely remained the same with only Scotland showing a small fall in house prices in the months immediately running up to the first withdrawl deadline in March , so why is the market so affected by the uncertainty over Brexit?
Stark Warnings About House Prices After Brexit Have Excited Buyers
There have been stark warnings from the Bank of England’s governor Mark Carney that house prices could fall by up to 30% from their pre Brexit level if there is no deal. He also said that is his job to plan for the worst case scenario suggesting that the pessimism is based on possibility rather than probability. While most industry experts do predict some sort of drop in price following a no deal Brexit, although there are also those who predict no change and those who predict slight increases .
Gauged by the reduced activity in the housing market it seems as though a significant number of buyers are delaying their plans to buy property until after Brexit due to the fear of negative equity if the property values drop significantly.
The buyers most tempted by the prospect of a drop in property costs are those who are not also selling during the same period – i.e. first time buyers, second home owners and buy to let landlords. They represent a significant percentage of the housing market buyers.
Will House Prices Drop After Brexit?
The simple answer is that nobody can know until a plan has been agreed and even then the extent of any affect on house prices after Brexit will also depend on a range of other economic factors including Secton 24, aka The Landlord’s Tax.
The following information gathers together some relevant factors and attempts a logical understanding of the situation. It is NOT intended as any sort of advice.
Continue reading House Prices After Brexit
The problem: Broken House Chains
With over 10 years of specialising in selling property quickly, we do of course know the pitfalls that can derail any house sale – i.e. issues that cause chains to break resulting in everyone involved wasting time and money.
We also know that the average percentage of agreed sales that fall through is currently stands at almost 40% and unfortunately, the number is on the rise*.
* According to recent figures released by Quick Move Now, the number of house sales falling through before completion has risen to 38.8% in Q1 2018 – nearly four percentage points higher than a year earlier and 18 percentage points higher than five years ago.
Of course, any experienced estate agent also knows this but unlike most, we at National Residential do not accept that it is an ‘acceptable risk’ and/or unavoidable.
That is why we have tailored our sales process to minimise risk and maximise success. Our stats speak for them selves – due to our rigorous buyer approval procedures 95% of our agreed sales complete.
Continue reading Stop An Agreed Property Sale Collapsing