The universal credit is championed by work and pensions secretary Iain Duncan Smith

Will the benefits payment changes scare off private landlords?

When the coalition came to power in May 2010 one of their key aims was to reform the benefits system and reduce the annual £22 billion housing benefit bill, but will the changes affect private landlords? Here’s our summary... Overview: The cuts are to be achieved via three policies; making tenants more responsible for their own money via a single, universal benefit payment that includes... Read more

Posted by Simon @ Upad on May 10th, 2013 in Finance, Housing Benefit, Property Market

SONY DSC

What to do if: you are worried about receiving a large service charge bill for your leasehold flat

Some two thirds of buy-to-let properties and overall some two million properties in the UK are leasehold flats either within converted houses or purposed-built developments. But despite a restructuring of the system following the Leasehold Reform Act in 1993 and the subsequent Commonhold and Leasehold Reform act of 2002, many landlords are still receiving large and often unexpected bills for... Read more

Posted by Simon @ Upad on May 9th, 2013 in Finance

Mervyn King

A gloomy forecast from the Bank of England

The Governor of the Bank of England Mervyn King has issued his quarterly forecasts and it doesn't make happy reading. Notably, he has downgraded the UK's forecast economic growth and also said that inflation has not reached its peak. The Bank estimates that Britain's economy will grow by 1.7% during 2011, less than the 2% in February's forecast of 2% growth but the same as the latest forecasts... Read more

Posted by Dan @ Upad on August 12th, 2011 in Finance, Landlord Tax, Property Rental

Guarantor Form

Tenant Tips: what is a guarantor?

As a tenant, you might be asked to provide a guarantor for your tenancy. A guarantor is someone who guarantees the rent on your behalf. They are responsible for the rent on your home. If you don’t pay the rent, your guarantor will be chased for payment. There are several situations where you might need to provide a guarantor. If you’ve never rented before, and this is particularly true for... Read more

Posted by Dan @ Upad on November 29th, 2010 in Finance, Legal

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Money

Ask Upad: My landlord won’t put my deposit in a protection scheme

Q: We paid a substantial deposit to our landlord when we moved in a few months ago. She hasn’t lodged it with a Deposit Protection Scheme and says it will be perfectly safe in her own bank account. We’re not very happy about that, but what can we do? A: The first thing to remember is that she’s acting unlawfully. Under law, since 2007, any deposit paid to a landlord or letting agent... Read more

Posted by Dan @ Upad on November 29th, 2010 in Finance, Legal