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Next Slam meeting
Hi Guys I was just wondering when the next Slam meeting will go ahead I seem to remember Jamie posting something about it or Skool will take place in the summer months Any news ? Regards Noel
Whoop Whoop! Property Market Slump 🥳🥳🥳
Property prices are down 1% and it is now taking an average of 216 days to complete. Lenders are clearly being more cautious and solicitors might be slowed down by this extra due-diligence. I know with 2 of mine going through at the moment, the lenders are asking for Belt and Braces. One Pearl of Wisdom from Jamie recently is that the lender typically owns 75% of the property and you only 25%, so it is more theirs than yours. For this reason, they are doing more due diligence for their own sakes. In other words, each property is a business proposition, and you need to convince them it is viable. https://residentiallandlord.co.uk/rightmove-home-sales-216-days-landlord-exits-slow/
Whoop Whoop! Property Market Slump 🥳🥳🥳
Rent Controls abandoned
This is actually quite big. Whitehall have finally realised that they have to ease off landlords. https://www.dailymail.com/news/article-16002047/Andy-Burnham-Angela-Rayner-rent-controls-housing-Labour.html
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Leasehold to be phased out
Government details how they intend to phase out Leasehold. A good thing in my mind… how can you buy a flat and not actually own it? https://www.gov.uk/government/speeches/housing-minister-speech-on-leasehold-and-commonhold-reform#msdynmkt_trackingcontext=9cdbfe5a-05c1-45a3-9e04-fa2992200000
Leasehold to be phased out
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