1. www.landlords.org.uk National Landlords Association www.landlords.org.uk NLA News & Update Richard Blanco, NLA Representative

2. www.landlords.org.uk Autumn Spending Review From 1 April 2016 3% stamp duty surcharge –Applies to landlords & second properties –May not apply to corporate purchases –Shift to home ownership New Help To Buy London scheme 400,000 new homes Amount of purchase price Rates for purchase of first property Amount of SDLT due Rates for additional purchases Amount of SDLT due First £125k 0%03%£3,750 Next £125k 2%£2,5005%£6,250 Final £100k 5%£5,0008%£8,000 Total£7,500£18,000

3. www.landlords.org.uk Tax Changes From Summer Restriction of Mortgage Interest Relief –To basic rate phased over 4 years from 2017 –Calculate as tax credit instead of deduction Abolition of 10% Wear & Tear Allowance –Renewals allowance only from April 2016 Changes to taxation of dividends –7.5% over £5,000 (previously 0% to 40% threshold) CGT to be paid within 30 days from 2019

4. www.landlords.org.uk Analysis Motivation –Financial stability –Cash buyers –Home ownership Questions –Downsizers & refurbs –Corporate exemption? Impact –No longer tax efficient to buy with mortgage –Effective 70% rates –Has size of the PRS peaked? –Reduce rental supply & house prices –Effect prime sector

5. www.landlords.org.uk Summer Budget Welfare Changes Reduction in Universal Credit Limits –£23,000 in London, £20,000 elsewhere –Also shift from tax credits to ‘living wage’ of £9/hour –Working age benefits frozen for 4 years –Mortgage interest benefit becomes a loan Young People Hard Hit –National living wage over 25 –No LHA for 18-21 year olds –Replace maintenance grants with loans

6. www.landlords.org.uk Summer Budget Recap Rent a room relief –Increase from £4,250 to £7,250 Housing Associations –Rents down by 1% per annum –Facing right to buy (Also pay to stay) Planning Changes –Permitted development to build up to height of neighbouring properties –Default planning permission to build residential in zoned brown field sites

7. www.landlords.org.uk 2015 Deregulation Act Changes brought in earlier this year –All deposits (inc pre 2007 must be protected) –Wording of Section 8 & Section 13 Std s21 & Retaliatory eviction from Oct 2015 –Standard s21 (invalid if no EPC, DPC, GSI, How To Rent booklet) –No s21 in first 4 months of tenancy –6 month moratorium on Section 21 if local authority notice is served

8. www.landlords.org.uk Smoke Alarm & Review Of HMOs Put one smoke alarm on every floor & Carbon monoxide alarms in rooms with solid fuel heating Test at start of each tenancy - £5,000 fine £3m funding available Scotland introducing 5 yearly fixed wiring & PAT checks from 1 Dec 2015. Government consultation on HMOs –5 people, 2 households, any number of stories

9. www.landlords.org.uk Right To Rent Immigration Checks UK rollout from 1 February 2016 Landlords or agents (or tenants if sublet) Establish continuous or time limited statutory excuse, acceptable documents in List A or B Valid for 1 year, keep copy for 1 year after Follow up checks for time limited cases Some exemptions Fines of £80/£1000 to £500/£3000

10. www.landlords.org.uk Immigration Bill New s8 ground for eviction re right to rent New legal notice served by Home Office on tenant New criminal offence, 5 years prison penalty

11. www.landlords.org.uk Housing & Planning Bill Database of criminal landlords & letting agents –Banning & rent repayment orders beyond licensing Civil Penalty Notices for housing condition –Alternative to HHSRS prosecution Greater use of rent repayment orders New procedure for abandoned properties Local Authority access Deposit Protection Data Revised fit and proper person test

12. www.landlords.org.uk Licensing & Article 4 Update Borough-wide: –Newham, Barking & Dagenham, Waltham Forest, Camden, Brent, Hounslow, Ealing, Barnet, Croydon, Kingston, Redbridge 20% limit on Selective Licensing Partial: –Islington, Tower Hamlets, Haringey, Southwark, Hammersmith & Fulham, Lewisham Article 4: –Newham, Barking & Dagenham, Waltham Forest, Enfield, Haringey, Hillingdon

13. www.landlords.org.uk 2016 London Mayoral Candidates Siobhan Benita, Independent Sian Berry, Green David Furness, BNP George Galloway, Respect Lindsey Garrett, Something New Zac Goldsmith MP, Conservative Sadiq Khan MP, Labour Caroline Pidgeon, Lib Dem Rosalind Readhead, Independent Upkar Singh Ray, National Liberal Party Yanek Zylinski, Independent

14. www.landlords.org.uk Zac Goldsmith, Sadiq Khan, Caroline Pidgeon, Sian Berry, Ian Whittle

15. www.landlords.org.uk Main Candidate’s Housing Policies Sadiq Khan –London Homes team –London Homes Bond –Prevent buy to leave –London wide social lettings agency –In favour of licensing –Publish list of best and worst landlords –London living rent –Devolved powers to control rents Zac Goldsmith –Funnel international investment into London Fund for affordable housing –Use of publically owned brownfield sites –Environmental campaigner

16. www.landlords.org.uk NLA Help & Services Free associate member – free ASTs Help our campaigns & improve PRS Full membership - use advice line, get UK landlord & discounts on services Training Courses & Accreditation richard.blanco@landlords.org.uk Blog at www.richardblanco.com