Owning your own home

Ring battery door bell

your neighbour ‘simply’ has to give the tenant notice and apply for a court order for possession.

Anything else is secondary and might prolong the issue.

Yeah she's doing that, I figured knowledge that he's sub-letting wouldn't slow down the process. There's definitely a few people staying there who aren't the tenant.

Actually that's not right and the if an underlease has been created, even against the terms of the original lease, then that can cause issues, especially if the head landlord knew of the sublet and did not do anything about the situation. If he knew about it, did nothing, and accepted rent , then that's again an issue.

Ok, I might have jumped the gun a bit there, he is up there. Guess I was just a bit jumpy after his recent rent-dodging antics and my tenants stories. We'll see though, he does take the piss at every opportunity it seems.

It's my understanding that with a Section 8 and a court order bailiffs can remove the sub-letters and their possessions. Would be interested to hear if there are other ways of reclaiming the property.

In this situation the tenant is being section 8'd not because they have (or have not) sub-let, but because they have fallen behind with their rent.

Re. Brexit, price fluctuations, etc etc -

So I'm 9 months in to a 2 year fixed rate. Am I fucked?

We bought in Feb with a 2y fixed, on a 90% mortgage.
The plan was to spunk 50k on updates and renovation (new heating, electricity, windows, added en suite to master bedroom, plus decorating and external cladding) then remortgage at a much lower LTV (we got the house for ~75k less than similar were selling for in the area)
That plan may well back fire now.

Ho hum.

you have 1 year 3 months, by the end of that "we will be hunting rabbits for food in regents park®" - @Sparky

Its a guess but I'd say fucked is a bit too strong a word.

That said, I'm betting on house prices being lower and interest rates being higher in 15 months.

saw this and thought of this thread..

https://www.theguardian.com/business/2018/jun/25/countrywide-property-sales-uk-estate-agency-profit

We got a five year fixed at the start of the year, rabbits ahoy!

So I'm 9 months in to a 2 year fixed rate. Am I fucked?

Dunno, but if you couldn't afford the mortgage payments on a higher interest rate, say 4-5%, or it would put you in to serious difficulty, it might be worth looking at a longer term fixed rate deal. Switching to a five year might give you the security you need, at cost you might consider reasonable. Talk to the bank you have the mortgage with first.

Like @Ramsaye says predicting the future is difficult, this isn't financial advice etc.

5yr @ 1.84% at the start of the year. Do I need to learn how to steal rabbits from Dammit?

I can port if I move though. Or is that massive ballache in practice?

Or is that massive ballache in practice?

not at all, it might cost though depending on early repayment fees.

I can port if I move though. Or is that massive ballache in practice?

Dunno, but we did the same thing.

Proof will be in the eating. I assume it depends on whether the lender 'approves' of the new property and how much you are paying for it, much in the same way as they needed to approve of the existing one.

it might cost though depending on early repayment fees.

I thought the whole point was that you didn't pay them (unless, weirdly, the borrowing requirement on the new place was less than on the old)

The last time the Tories were allowed to fuck about with the economy for a decade,
we ended up with rampant negative equity and mortgage rates at 15%.
The early '90s were not a happy time as the 'Lawson Boom' crumbled.
I see no benefit from Brexit, (unless you run a hedgefund and are shorting the UK economy),
so my opinion would be to lock into the longest fixed term mortgage you can afford.

yeah I can't remember what our justification was to go for 2 years at the time, but I've had it nagging in the back of my mind pretty much since moving in. we certainly won't be moving again at the 2 year mark, and discussions here are turning the nag into genuine concern haha

I wouldn't panic too much. (Again risking a load of abuse from mustard beak and his sidekick) I got a 5 year fix in 2011 at a very painful rate of interest (6pc). I was scared if rates went up further. It was the wrong call. I then bit the bullet and it cost me 4 grand to buy my way out of that bad deal to remortgage onto a 3pc deal.

Personally I wouldn't get more than a 3 year fix which is probably about the right balance of risk/security. Tesco are doing some good deals atm.

so my opinion would be to lock into the longest fixed term mortgage you can afford

That was my thinking this time last year. 5 years at a good rate rather than trying to sneak 2 years and hope rates were still low and I just nipped in with a 10yr at another low rate before everything went to shit.
Not that I'd need the mortgage because I'd have picked the right lottery numbers anyway.

I'd have picked the right lottery numbers anyway

Similar odds to brexit being a smooth success.

" House prices have been falling in London and parts of southern England, but are still rising elsewhere in the UK. "

This :(

Viewed a place in Mcr last weekend. Record sale on the road was 171k, next best was 166k. One of those was in excellent condition.

I just offered, but was told the offers had already gone 20k over this previous best sale on the road. And the house is in nowhere near as good condition. Crazy. It's way over priced*.

Back to the search engines.

*relative. northern prices.

Isn't Brexit more likely to slow the economy and so delay a rise in interest rates?

Isn't Brexit more likely to slow the economy and so delay a rise in interest rates?

A disorderly exit could cause a run on the pound, which I'd guess they'd need to fight with raising interest rates.

The depreciation in Sterling after the Referendum was 'solved' by Mark Carney telling The City that he had a bottomless bucket of quantitative easing.
That trick might not work after March 2019.
The only other economic lever the Bank of England possesses is interest rates,
especially to support a Sterling cut adrift from its major market.
Back in the early '90s a rise of 8 to 9%, (etc) was painful, but the actual change in the monthly payment was slight, until we got to 15%.
At the moment with interest rates at historic lows, the many mortgage payers who are 'just about managing', a small change in mortgage rates means a huge change in monthly payments. Those coming off of a short term fixed rate could find themselves shafted.