Could you benefit from repaying your mortgage early?
The average homeowner will be 57 before they’re able to fully repay their mortgage, so paying off the debt early is a desirable financial goal.*
The Government fully expects all legal duties connected to being a landlord to be upheld. In compliance, we are addressing all essential maintenance issues related to water supply, sanitation and heating failure; applying the rules on social distancing to ensure that this is arranged in the safest manner possible.
For example, if your tenant informs us that they are self-isolating, we will cancel any planned visits or inspections, rearranging them for a suitable time in future. This will be documented and we will keep you updated.
It is very important to keep a written record of all arrangements and communications with tenants and contractors, where repairs and inspections are delayed due to Coronavirus.
There is no allowance from the Government on this, any cases where concerns around gas safety are raised must be investigated. Therefore, we will enquire with at least three gas engineers, keeping a written record of any attempted inspections and visits. Gas Safe Register has confirmed that their engineers have “continued to operate gas safety inspections and investigations, focusing on the highest risks.” Read the Gas Safe Register updates on COVID-19 here.
A valid notice will bring the tenancy to an end as usual but it may be difficult to enforce this at present if your tenant is having to self-isolate. We will work with you and your tenant to come to a suitable agreement in any such cases.
The Ministry of Housing, Communities and Local Government advise that movement into new properties should be avoided unless the move is already underway and cannot be delayed. This means that replacing tenants immediately is likely to be difficult, therefore an extension of the current tenancy may be a good option at present.
The Government confirmed that the legal requirement to obtain an EPC before selling or letting a property remains in place, but EPC assessments should only be conducted where they can be done safely and in line with guidance relating to Coronavirus. Read the full update here.
The Government has announced that landlords can perform and carry out gas safety inspections two months prior to expiry, with the certificate remaining valid for 12 months from the original expiry date (14 months). We recommend taking this opportunity to obtain Gas Safety Certificates, PATs and EPCs while your property is empty. Then, when the industry goes back to normal and the market kicks off, your property is ready for buyers and renters who want to move in quickly. Read the full update here.