Tenancy Deposit Claims

  When we speak of volatility we are referring to the degree of variation in an asset when it’s price fluctuates.  The calculation to measure this is usually done by calculating standard deviation, which helps quantify the variance. The most well known associations of these patterns are often seen in the financial markets whose multiple peaks and troughs look like epic mountain ranges. Amongst analysts the belief is long-term movements generally remedy any short term losses. For example if we look at the Land Registry Average House Price Index below from Oct 2007 to Aug 2017 we can see the after the property crash of 2007 the tenancy deposit claim birmingham house price index fell from 70.51 (Oct 2007) to 61.57 (Jan 2009) a fall of 12.7%.  However in the long term between Oct 2007 (70.51) and Aug 2017 (116.89) the house price index rose overall by 65.7%, which shows the short term annual fluctuations although showing drops in value in the long term, ...

  This is the first part of a series of blog posts that will be looking into the phenomenon of cryptocurrency. Will it be changing the face of finance and the way we purchase property in the future? On 3 January 2009, the then Chancellor Alistair Darling was considering the second bailout of the banks after the financial crash of 2007-08. At the same time a little known programmer identifying himself under the pseudonym of Satoshi Nakamoto brought his online digital currency masterpiece to life. It was called Bitcoin , a decentralised medium of exchange and store of wealth that uses cryptography to control its creation and management. History was being made, Nakamoto’s vision was to remove power from the corrupt banks and governments and give power back to the people. It would be using a system called “blockchain” which enabled “peer-to-peer” transactions of currency between two parties to take place. This design enabled spending to take place wi...

  Is there any truth to the natural world’s seasonality affecting the transaction and prices of property in the UK and Brent? There is a wealth of empirical and theoretical literature that has been inspired by the cyclical boom-to-bust activities of the regional and national housing markets. Booms are characterised as economic periods when prices rise with very active trading behaviour and busts are the inverse where prices and trading activity fall below par. While the macro level effect of boom-to-bust cycles are relatively infrequent and difficult to predict, we find that in the housing market booms and busts are as frequent and predictable as mother natures seasons. In most regions in the United Kingdom, a noticeable annual housing boom takes place in the second and third quarters of the calendar year (spring and summer, known as the hot season), followed by the fourth and first quarters (autumn and winter, the cold season). This is a fact confirmed by estate ag...

  1690 was the year France was victorious over England during the “Nine Years’ War”, they were the dominant naval power, it was recorded as the greatest tactical naval victory over the English. England had to re-group and build a powerful naval fleet to re-establish itself as a global power. At the time the low credit of the government under William III’s rule and zero public funds made the prospect of such a move impossible. This was the catalyst for the creation of the Bank of England (BOE) in 1694, which was the only limited-liability corporation allowed to issue bank notes and funded half of the navy’s rebuild. The bank of England became the national reserve. The BOE’s mission statement by way of the “about the bank” detail on the official BOE website is to: “ promote the good of the people of the United Kingdom by maintaining monetary and financial stability. ” On the 2nd of November the BOE finally raised the base rate from 0.25% to 0.5% sin...

  What is behind our innate desire to know what the future brings? If we take into context the holy trinity of era comparisons – past, present and future, they each bring their own discussions. Is it perhaps knowing that the future has the capacity to potentially manifest an unpredictable number of variables that has made it such a compelling preoccupation through the ages? The past is unchangeable, the present is limited but the future has the potential to be more interesting than it’s predecessors. Whether that is the dystopian vision portrayed in Ridley Scott’s Blade Runner, or the floating houses and flying cars of the Jetsons it certainly captures the imagination of  the masses. In the property sector as technology becomes integrated into the system, all processes within the property industry will take place at a much faster pace. The complete replacement of paper based processes with digital mediums will see instantaneous real-time interactions...

 Land for development comes at a premium, however brownfield development sites offer a potentially cheaper market entry alternative. Prospective developers choosing this route are best advised to seek the advice of a professional to mitigate any risks. In this week’s blog article, it is my pleasure to introduce the author Rob Allen, an environmental consultant specialising in the assessment of land quality for developers: As an environmental consultant specialising in assessment and remediation of contaminated land, I am regularly contacted by developers looking to acquire brownfield sites.  Cleaning up pollution can be a costly process so naturally, my clients look to mitigate these risks wherever possible.  In this article I have distilled some of my usual advice into six key points. 1.) Risks from Contamination Might not be Obvious Clearly, if you are purchasing a chemical factory or petrol filling station, then considering the risks from contamination and tenancy depo...

  It’s that familiar time of year when the Chancellor of the Exchequer discloses the UK’s official Government Budget. That annual event where we wait for a miraculous disclosure of altruistic changes to the budget that will benefit the nation. This year billed as the “Housing budget”, has it lived up to it’s title? We saw no amendments to Section 24 of the Finance (No.2) Act 2015 for landlords, which means the phasing out of finance costs to offset against tenant deposit claims for private landlords will carry on as planned. By 2020/21 the availability of finance costs for this purpose as indicated by Section 24 will be nil. Interestingly we saw councils empowered with the right to charge a 100% Council tax premium on empty properties. There was no change in the Corporation Tax structure, which will continue to see a schedule of reductions. Last year it was 20%, this year 19%, next year 18% and the year after 17%. The announcement of £44 billion in government sup...