In this episode, Nick addresses common concerns about property investment, particularly in light of recent government changes and market fluctuations. He emphasises that property is not a get-rich-quick scheme but rather a long-term wealth-building strategy. Nick shares his personal investment approach, focusing on achieving a gross yield of at least 8% and the importance of thorough due diligence. He discusses his experiences with buy-to-let properties, the significance of capital growth over time, and the necessity of understanding local markets. KEY TAKEAWAYS Property investing is not a get-rich-quick scheme; it is a strategy for building wealth over time. A focus on long-term capital growth is essential, with properties generally appreciating in value over 20 to 25 years. Understanding and analysing the right financial metrics, such as gross yield and return on investment, is crucial. Aiming for a gross yield of at least 8% can provide a buffer against rising interest rates and other financial uncertainties. Thorough research on local property markets, demographics, and rental demand is vital. Knowing the area well, including transport links and local amenities, can significantly impact investment success. Engaging professionals like letting agents and mortgage brokers can save time and reduce stress. They can help manage properties, find good tenants, and navigate the complexities of financing. Understanding the tax implications of property investments, including income tax and capital gains tax, is essential. Consulting with a qualified accountant or tax advisor can help in structuring investments effectively and ensuring compliance with legal obligations. BEST MOMENTS "Property is not a get rich quick scheme. Property is a get wealthy over a long period of time." "You've got to ensure you get your numbers right on this. And I will do an episode on getting your numbers right." "If you don't find a way to make money while you sleep, you'll be working for the rest of your life." "You need to research those areas really carefully. Speak to different letting agents, estate agents, certain tools on the internet you can use to get information about that." "I believe in the Rob Moore philosophy here. B-H-D. Buy, hold, die. I'm not going to sell my properties." The UK’s #1 Property Investing Event – MSOPI Training https://is.gd/MSOPIPeterborough Join Kevin McDonnell, the UK's #1 creative finance expert, for the No Money Down Summit https://is.gd/KevinMcDonnellsNMDsummit The Mortgage Consultancy https://www.themortgageconsultancy.co.uk/ HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick delves into the critical differences between buy-to-let (BTL) mortgages and residential mortgages. Drawing from personal experiences, including a story about his sister's accidental landlord situation, Nick highlights the potential pitfalls of using the wrong mortgage type, such as severe penalties and financial repercussions. He explains the distinct criteria, costs, and regulatory frameworks associated with each mortgage type, emphasising the importance of understanding these differences for prospective borrowers. KEY TAKEAWAYS Buy-to-let (BTL) mortgages are specifically designed for properties intended to be rented out, while residential mortgages are for properties that will serve as the borrower's primary residence. Using a residential mortgage for a property that is rented out without the lender's consent can lead to severe penalties, including demands for full repayment of the loan, increased interest rates, and potential accusations of mortgage fraud. Lenders assess affordability differently for residential and buy-to-let mortgages. Residential mortgages primarily consider the borrower's personal income, while buy-to-let mortgages focus on the expected rental income from the property. Buy-to-let mortgages generally have higher interest rates and fees compared to residential mortgages due to the increased risk associated with rental income and potential void periods. The tax treatment differs significantly between the two mortgage types. For instance, interest on residential mortgages is not tax-deductible, while buy-to-let landlords face restrictions on deducting finance costs, impacting their overall tax liability. BEST MOMENTS "Living in a property with a residential mortgage that you intend to rent out without the lender's permission is a breach of contract and it can lead to severe penalties." "Buy-to-let mortgages attract a higher interest rate because there's an increased risk to the lender." "With a residential mortgage, lenders assess affordability primarily based on the borrower's personal income, whereas buy-to-let mortgages are predominantly based on the expected rental income from the property." "Since April 2020, landlords can no longer deduct all finance costs, including mortgage interest on their rental income to reduce their income tax." "While both mortgage types allow you to purchase property, buy-to-let mortgages are fundamentally investment products tailored to the risks and income streams associated with rental properties." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick unpacks the concept of personal guarantees in the context of property investment mortgages in the UK. Aimed at newcomers to the property market, Nick explains what a personal guarantee is, how it works, and why lenders often require it from company directors or shareholders. He discusses the implications of signing a personal guarantee, including the potential risks to personal assets and credit scores, as well as strategies to mitigate these risks, such as negotiating terms and seeking independent legal advice. KEY TAKEAWAYS A personal guarantee is a legally binding promise made by an individual, typically a company director or shareholder, to be personally liable for the debts of a limited company if it defaults on its mortgage repayments. Lenders often require personal guarantees from directors or shareholders of limited companies as additional security, especially in property investment where loan amounts can be substantial. Signing a personal guarantee poses significant risks, including the potential loss of personal assets (like your home) if the company defaults on the mortgage, and it may also impact future borrowing capabilities. To mitigate risks associated with personal guarantees, individuals can negotiate terms with lenders, consider personal guarantee insurance, and seek independent legal advice before signing. It is crucial to understand the implications of a personal guarantee and to seek professional legal advice, ideally from a solicitor specialising in independent legal advice, to ensure informed decision-making. BEST MOMENTS "A personal guarantee in the context of property investment mortgage in the UK is a legally binding promise made by an individual to be personally liable for the debts of a limited company." "By signing a personal guarantee, you are agreeing to be personally responsible for repaying the mortgage debt if the company is unable to do so." "Limited companies have separate legal personality from their owners, which means that if a company goes into liquidation, the owner's personal assets are generally protected." "Having a personal guarantee in place can affect your ability to obtain other loans or mortgages in the future." "It's crucial to understand the risks involved and seek professional advice before signing one." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Nick discusses how having an accountability buddy or group can significantly enhance commitment, motivation, and decision-making, ultimately leading to more consistent action in achieving property investment goals. He outlines the benefits of accountability, such as overcoming procrastination, improving decision-making, and providing emotional support during the ups and downs of the investment journey. KEY TAKEAWAYS Accountability is essential for property investors as it helps them stay focused on their goals, overcome procrastination, and make better decisions by being answerable to someone else. An accountability buddy can increase commitment and motivation, help overcome procrastination, improve decision-making, and provide emotional support throughout the property investment journey. Look for someone who is also a property investor, shares similar goals, is honest and trustworthy, and is willing to provide both encouragement and constructive feedback. An effective accountability system encourages setting specific, measurable, achievable, relevant, and time-bound (SMART) goals, rather than vague objectives, to ensure progress is trackable. For an accountability partnership to be effective, both parties must commit to regular check-ins, whether through phone calls, meetings, or messages, to maintain motivation and accountability. BEST MOMENTS "Accountability is crucial for property investors because it helps them stay on track with their goals." "Procrastination is you keep talking about doing something, but never actually doing it." "An accountability buddy can act as a sounding board to offer an objective perspective on potential deals." "You want someone that you can bounce things off and that will give you honest feedback." "Having those right people around you can supercharge your journey." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Today, Nick discusses the pros and cons of buying new build properties. He shares insights from a conversation with aspiring investors who believe that new builds are a no-brainer investment. Nick outlines the advantages, such as low maintenance costs, energy efficiency, and the appeal of modern designs, while also highlighting significant drawbacks, including higher purchase prices, limited potential for value addition, and common construction issues. KEY TAKEAWAYS While new build properties offer advantages such as low maintenance costs, energy efficiency, and warranties, they also come with drawbacks like higher purchase prices, limited potential for value addition, and potential construction issues. The decision to invest in new builds versus existing properties should align with one's investment strategy, particularly whether the investor prefers hands-off, low-maintenance assets or properties with potential for renovation and value addition. New builds often come at a premium price, which can lead to a decrease in value during the first few years of ownership. Investors should be aware of this potential depreciation when considering new builds. New builds may have minor defects that require resolution, which can be time-consuming and frustrating. It's important for investors to be prepared for these potential issues even with warranties in place. For those new to property investing, it is recommended to focus on properties that allow for value addition through renovations rather than new builds, as this can lead to better capital appreciation and rental yields. BEST MOMENTS "Buying a new build offers a very different set of advantages and disadvantages compared to buying an existing property." "You will pay a premium on a new build, making it more difficult to achieve a high rental yield." "If you have a strategy of adding value, buying a new build means there's really no potential to add value." "While I might get a higher rent off these properties, I know there's no chance for me to make capital appreciation within a smaller time frame." "For a new property investor, I would say you don't want to be going down that route at the moment." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick shares valuable insights on preparing for a lender's valuation inspection, focusing on two key scenarios: selling a property and preparing for a re-mortgage after renovations. Nick emphasises the importance of presentation and accessibility for sellers, detailing how a clean and organised home can create a positive impression for the surveyor. He also discusses the critical aspects of property condition that surveyors assess, such as structural integrity and core elements like plumbing and electrics. KEY TAKEAWAYS When selling a property, it's crucial to present a clean and tidy home to create a positive impression for the mortgage lender's surveyor. Decluttering and ensuring key areas are accessible can facilitate a smoother inspection process. Surveyors primarily assess the structural integrity and overall condition of the property. Homeowners should address visible issues such as dampness, roof condition, and the state of electrics and plumbing to avoid red flags that could impact the property's value. For property investors preparing for a re-mortgage valuation after renovations, having all relevant documentation, such as building regulations approvals, safety certificates, and warranties, is essential to demonstrate that the work was completed to a professional standard. Providing before-and-after photos and videos of renovations can effectively showcase the property's uplift in value. It's beneficial to create a Google Drive link to share these documents easily with the lender. Surveyors base their valuations on comparable sales in the area and prioritise the lender's security over the seller's profit expectations. Being prepared for a potential down valuation and having a well-documented case can help in negotiating a favourable outcome. BEST MOMENTS "A mortgage valuation is conducted on behalf of the lender, not the buyer. Its primary purpose is to confirm that the property is worth at least the amount you are borrowing." "If you have a new boiler put in, there's your certificate of installation. Windows installed, there's your FENCES certificate." "The surveyor will look for any red flags that could impact the property's value or the lender's security." "The surveyor's valuation will heavily rely on evidence that the renovations are legal and professionally completed." "A surveyor's priority is a safe lending decision, not meeting your profit expectations." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick Bower delves into the topic of foam insulation, specifically spray polyurethane foam (PUF), and its implications for homeowners and property investors in the UK. Nick provides a balanced overview by discussing the pros, such as superior thermal efficiency, effective airtight sealing, and quick installation, alongside the significant cons, including the risk of moisture retention, potential timber rot, and challenges with property value and mortgage approvals.  KEY TAKEAWAYS Pros and Cons of Foam Insulation: Foam insulation, particularly spray polyurethane foam, offers superior thermal efficiency and an airtight seal, but it also poses significant risks such as moisture retention, potential timber rot, and complications with property value and mortgages. Moisture and Structural Risks: Improper installation or lack of ventilation can lead to moisture being trapped, which may cause timber decay and structural damage that is hidden beneath the foam insulation. Impact on Property Value: Properties with spray foam insulation may be deemed un-mortgageable or receive lower valuations from lenders and surveyors, making it difficult to sell or refinance. High Costs and Removal Challenges: The initial cost of foam insulation is significantly higher than traditional materials, and removal can be equally expensive and complicated, potentially costing as much as the installation itself. Regulatory Concerns: The spray foam insulation industry lacks comprehensive regulation, leading to concerns about installation quality and safety. Homeowners are advised to use certified professionals and keep thorough documentation to avoid future issues. BEST MOMENTS  "Foam insulation has a higher R value as a measure of thermal resistance per inch than traditional materials like mineral wool or fiberglass." "By creating that airtight seal, foam insulation can prevent moisture from escaping... this can cause roof timber to rot, leading to severe structural damage." "The presence of spray foam insulation... can mean they downvalue your property or may refuse your mortgage." "My personal opinion is it's not worth the hassle. It's expensive. It can hide problems. It can affect your value." "I feel that the cons far outweigh the pros of it... when it's affecting the value of your house, the chances of refinancing, getting a mortgage." https://bit.ly/3FqcL4l  The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs  HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Today, Nick delves into the essential topic of due diligence in property investing. He emphasises the importance of starting your research before committing to becoming a property investor, highlighting that property investing is not a get-rich-quick scheme but rather a long-term strategy for building wealth. KEY TAKEAWAYS Begin your due diligence before deciding to become a property investor. Understand your financial goals and whether property investing aligns with them. Property Investing is Not a Get-Rich-Quick Scheme - It requires time and effort to build wealth. Expect gradual growth rather than instant financial freedom. Invest in your knowledge through training and education. Seek reputable training providers and be open to learning from various sources to enhance your understanding of property investing. For beginners, starting with light refurbishments on buy-to-let properties is advisable. Avoid complex projects until you have gained more experience. Attend events like the Multiple Streams of Property Income (MSOPI) to connect with experienced investors and mentors. Building relationships in the industry can provide valuable insights and support. BEST MOMENTS "Property investing is not for everyone. It's not a get-rich-quick scheme. It's not going to give you instant financial freedom." "You need to find events like this. For me, Progressive provide the best training at the moment." "If you want passive income, something's going to come in. Yeah, it will give you that passive income." "You have to spend money on training, spend money on compliance, period." "You need to get the knowledge from people that do it. Are they teaching what they do or are they doing what they teach?" The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick delves into the essential topic of finding the right mentor in the property investment field. He emphasises that mentors may change over time as your needs evolve and shares his personal experiences with both good and bad mentors. Nick outlines key qualities to look for in a mentor, such as proven experience, honesty, integrity, and effective communication skills. He also discusses the importance of accountability and setting realistic expectations in the mentorship relationship. KEY TAKEAWAYS A mentor's relevance may change over time as your needs and goals evolve. It's important to recognise when it's time to seek a new mentor who aligns better with your current objectives. Look for a mentor with a successful track record in the specific investment strategy you are pursuing. They should be actively involved in the market to provide relevant insights and guidance. A good mentor should be transparent about the challenges of property investing and share their own mistakes. Avoid mentors who promise quick riches or downplay the risks involved. Effective mentors should be approachable, able to explain complex topics clearly, and actively listen to your questions. Good communication fosters a productive mentor-mentee relationship. A mentor should hold you accountable for your progress and help you navigate setbacks. They should also set realistic expectations about the time and effort required to succeed in property investing. BEST MOMENTS "A great mentor will save you time and money by helping you avoid common mistakes. They will have already made the mistakes and can hopefully help guide you around them." "You need someone that keeps you on track for your goals, that's got your best interests at heart, that doesn't just want to sit there and earn their money from the mentorship." "The best mentors will tell you what you need to hear, not what you want to hear. They will manage your expectations." "You have to question their values and their approach. How many people are they mentoring at one time?" "Don't part with your money until you're sure that they're the right mentor for you. Best advice I can give: research, research, research." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Nick delves into the serious topic of Awaab's Law, introduced in response to the tragic death of two-year-old Awaab Ishak due to prolonged exposure to mould in his social housing flat. The episode provides a comprehensive overview of the law's background, its implications for social housing landlords, and the urgent need for accountability in addressing hazardous living conditions. Nick also discusses the systemic failures that led to Awaab's death, including landlord inaction and the dismissal of tenant concerns, and emphasises the moral duty of all landlords to ensure safe living environments. KEY TAKEAWAYS Awaab's Law was established following the tragic death of two-year-old Awaab Ishak due to prolonged exposure to mould in his social housing flat, aiming to hold landlords accountable for dangerous living conditions. The law mandates that landlords must investigate reports of damp and mould within specific timeframes and begin repairs promptly if a significant hazard is identified, ensuring tenants have safer living conditions. Awaab's Law empowers tenants by incorporating legal rights into tenancy agreements, allowing them to hold landlords accountable in court for breaches of contract related to unsafe living conditions. The law will be implemented in phases, starting in late 2025, with strict deadlines for landlords to address emergency hazards, including damp and mould, and to provide alternative accommodation if necessary. While Awaab's Law currently applies to social housing, private landlords also have a moral obligation to maintain safe living conditions and address hazards like damp and mould, as future legislation may extend similar requirements to the private rented sector. BEST MOMENTS "Awaab's official medical cause of death was recorded as acute airway oedema with severe granulomatous tracheobronchitis due to environmental mould exposure." "The law is a direct legacy of Awaab Ishak's death, designed to enforce a moral duty on landlords to provide safe housing." "This exposure was found to be the sole cause of his severe respiratory condition which ultimately led to respiratory and then cardiac arrest." "You cannot blame someone's lifestyle. It may be a contributing factor, but it's not going to be the whole cause." "If you're a private landlord, don't sit on your laurels; you have a moral duty to tackle these mould issues." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick breaks down the Decent Home Standard, a crucial aspect of the upcoming Renters' Rights Bill set to impact landlords significantly. He explains the standard's aim to ensure that both social and private rented housing meet minimum safety and quality criteria, including the elimination of damp and mold. Nick outlines the four key criteria that define a decent home, such as the statutory minimum standard for housing, reasonable state of repair, modern facilities, and thermal comfort. KEY TAKEAWAYS The Decent Home Standard is part of the Renters' Rights Bill, aimed at ensuring both social and private rented housing meet minimum safety and quality criteria. It includes provisions to eliminate damp and mould, which have been linked to serious health issues. The proposed implementation dates for the new standards in the private rented sector are set for either 2035 or 2037, allowing landlords a long lead-up time to comply with the new regulations. The standard evaluates properties based on the HHSRS, which assesses 29 specific hazards. A home fails if it contains any Category 1 hazards, which pose an immediate risk to health and safety. Awab's Law, named after a child who died due to mould exposure, mandates that landlords address damp and mould hazards within specific timeframes. The law will be implemented in phases, with the first phase focusing on urgent repairs and the second phase expanding to cover a broader range of hazards. BEST MOMENTS "The new standard will be common to both social and private rented housing ensuring tenants have the same minimum level of safety and quality." "A home fails this part of the standard if it contains any category one hazards. These are serious and immediate risks to a person's health and safety." "It's a legal requirement based on the Housing Health and Safety Rating System, a risk-based assessment used by local authorities in England and Wales." "No one wants to be in that situation where a young child loses life because of damp and mould." "The timeline for the implementation of this revised decent home standards... is really complex and phased." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Gas Safe Register Explained: What Every UK Landlord Must Know Today Nick tackles one of the most important responsibilities for landlords and property investors: gas safety. He explains the role of the Gas Safe Register, the legal requirements for annual checks, and the serious consequences of non-compliance. Nick also shares practical advice on how to choose the right gas engineer – from checking their Gas Safe ID and registration to assessing experience and insurance. You’ll learn what actually happens during a gas safety inspection, what documentation you must provide to tenants, and why building a reliable relationship with a qualified engineer can save you stress and money in the long run. This episode is essential listening for any UK landlord or property investor who wants to stay compliant, protect tenants, and safeguard their investments. KEY TAKEAWAYS Gas Safe Register importance – the official UK body ensuring only qualified engineers work on gas appliances. Landlord legal responsibilities – annual safety checks, CP12 certificates, and tenant record requirements. Choosing a gas engineer – verifying Gas Safe ID, experience, quotes, and insurance. Gas safety inspection process – appliance checks, pipework/flue inspections, ventilation, and safety device testing. Ongoing compliance – why long-term relationships with reliable engineers and clear communication matter. BEST MOMENTS "Failing to comply with regulations can lead to severe consequences including substantial fines and even imprisonment." "It's crucial for demonstrating that you've fulfilled your legal responsibilities; unsafe and illegal gas work can lead to expensive repairs or even significant damage." "You want to prioritise experience; a good engineer will have a portfolio or references from similar projects." "You have a legal obligation to get an annual gas safety check done on each of your properties." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l  The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs  Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick delves into the complexities of property boundaries in the UK, covering essential topics such as fences, hedges, and walls. He explains the various legal frameworks that govern boundary ownership, including property deeds, the Town and Country Planning Act, and the Party Wall Act. Nick discusses height restrictions for boundary structures, the implications of high hedges under the Antisocial Behaviour Act, and the importance of maintaining clear communication with neighbours to resolve disputes amicably. The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs KEY TAKEAWAYS There is no universal rule for determining boundary ownership in the UK. Property deeds, conveyance documents, and long-standing practices are key factors in establishing ownership and responsibility for boundaries. Under the Town and Country Planning Act, certain minor works like fences, gates, and walls can be carried out without a full planning application, but there are specific height limits and regulations, especially near highways and in conservation areas. This act requires homeowners to serve a notice to neighbours when undertaking certain works on party walls or party fence walls. However, timber fences are not covered by this act, and there is generally no obligation to maintain a boundary fence unless specified in property deeds. The Anti-Social Behaviour Act 2003 addresses disputes over high hedges, focusing on those that obstruct light or access. There is no legal maximum height for hedges, but they must not adversely affect a neighbour's enjoyment of their property. It is recommended to resolve boundary disputes informally through clear communication with neighbours before seeking professional mediation or legal advice. Keeping detailed records of all correspondence is crucial for any potential legal proceedings. BEST MOMENTS "Ownership and responsibility are often established by property deeds. A single T on one side of a boundary line indicates the ownership and responsibility for that boundary." "There's no legal obligation to erect or maintain a physical boundary fence or wall within properties unless specifically stipulated by your property deed." "High hedges are covered by the Antisocial Behaviour Act 2003. A definition of a high hedge consists of a line of two or more trees or shrubs more than two meters tall." "If a neighbour's hedge or tree encroaches onto your property, you have the common law right to trim back parts that are over your boundary." "Boundary disputes can be complex and highly dependent on individual circumstances and specific property deeds." HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick delves into the intricacies of the General Data Protection Regulation (GDPR), a comprehensive data privacy law that has been in effect since May 25, 2018. He discusses the core principles of GDPR, including lawfulness, fairness, transparency, purpose limitation, data minimisation, accuracy, storage limitation, integrity, confidentiality, and accountability. Nick emphasises the importance of compliance for businesses, particularly those in the property sector, and outlines the legal obligations, individual rights, and potential penalties for non-compliance. KEY TAKEAWAYS GDPR, or General Data Protection Regulation, is a comprehensive data privacy law that came into effect on May 25, 2018, and applies to organisations processing personal data of individuals in the UK and EU, regardless of where the organisation is based. GDPR is built on seven key principles, including lawfulness, fairness, transparency, purpose limitation, data minimisation, accuracy, storage limitation, integrity, confidentiality, and accountability. Organisations must adhere to these principles when processing personal data. GDPR grants individuals several rights regarding their personal data, including the right to be informed, access, rectification, erasure, restriction of processing, data portability, and objection to processing. Organisations must be prepared to facilitate these rights. Businesses must maintain detailed records of their data processing activities, implement appropriate security measures, and conduct Data Protection Impact Assessments (DPIAs) for high-risk processing activities to ensure compliance with GDPR. Failure to comply with GDPR can result in significant fines (up to 20 million euros or 4% of global annual turnover) and reputational damage, highlighting the importance of ongoing compliance efforts and the need for organisations to regularly review their data protection policies and procedures. BEST MOMENTS "GDPR is built on seven key principles that organisations must adhere to when processing personal data." "Processing must be lawful, fair, and transparent in the individuals whose data is being processed." "If processing is likely to result in a high risk to individuals' rights and freedoms, a DPIA may be mandatory." "Failure to comply with GDPR can result in significant fines up to 20 million euros or four percent of the organisation's total worldwide annual turnover." "Compliance is not a one-time activity but an ongoing process that requires continuous effort and adaptation." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

https://is.gd/KevinMcDonnellsNMDsummit https://is.gd/MSOPIPeterborough In this episode, Nick delves into the pros and cons of purchasing repossessed properties. He explains what a repossessed property is and highlights the potential benefits, such as acquiring properties below market value, the absence of property chains, and the speed of transactions when dealing directly with banks. However, Nick also addresses the challenges, including the risk of hidden damages, competition from other buyers, and potential legal issues. KEY TAKEAWAYS Buying repossessed properties can offer opportunities to purchase below market value, as lenders are often eager to sell quickly to recover their costs. Repossessed properties typically do not involve a property chain, which can expedite the buying process and reduce the risk of delays. There may be significant repairs needed, and hidden issues such as damp or structural problems can arise. Conducting thorough inspections and surveys is crucial. Buyers should be aware of potential legal issues associated with the property, such as outstanding debts, and check the status of utilities, as reconnection costs can add to expenses. Many repossessed properties are sold at auctions, so it's important to understand the auction process, including associated costs, and to set clear bidding limits to avoid overspending. BEST MOMENTS "The potential for buying it a lot lower than market value. It's the golden egg that all property investors want." "You need to go into these auctions knowing your numbers, knowing how much you're going to spend on it." "There may be outstanding debts or legal issues associated with the property that can complicate the progress of the purchase." "It's essential to conduct thorough surveys and inspections with a repossessed property, because you need to be identifying any potential problems." "Do not exceed your researched figures. Stick to your figures, that will help you reduce the risk of going wrong." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

The UK’s #1 Property Investing Event – MSOPI Training ⁠https://bit.ly/3FqcL4l ⁠ The UK’s #1 Property Investing Event – MSOPI Training London ⁠https://bit.ly/4isD2xs ⁠ Today, Nick discusses the critical topic of holding costs associated with property investments, particularly during renovation periods. He emphasises the importance of budgeting for various expenses, including mortgage interest, council tax, building insurance, utilities, and potential ground rent or service charges. Nick shares personal anecdotes and practical advice on managing unexpected costs, negotiating with lenders, and the significance of using reputable contractors. He also discusses the potential for grants and the impact of opportunity costs on investment decisions. KEY TAKEAWAYS When purchasing a property for renovation, it's crucial to account for holding costs such as mortgage interest, council tax, building insurance, and utilities, even if the property is unoccupied. Local authorities may charge council tax on empty properties, and if a property remains unoccupied for over 12 months, it could attract double or even triple council tax. It's important to inform the council promptly after purchasing the property. Renovations often come with unforeseen expenses, such as hidden structural issues or material shortages. It's essential to budget for these unexpected costs to avoid financial strain during the renovation process. Consider the opportunity cost of having funds tied up in a renovation project versus investing them elsewhere for potentially higher returns. Additionally, time costs can arise if renovations take longer than planned, impacting financial projections. Engaging reputable contractors can help ensure quality work and timely completion of renovations. Recommendations from peers or local property meetings can be valuable in finding reliable tradespeople. BEST MOMENTS "As soon as you've purchased that property, it's subject to certain holding costs. Let's call it an investment, not an expense." "If it's been empty for more than 12 months, it may attract double council tax, triple council tax depending on where you are." "You need to declare to your building insurance provider this property will be empty from here to here." "Unexpected costs often encounter unforeseen issues, hidden structural problems, material shortages." "Use a reputable contractor. Use someone that's recommended by someone else, by a peer." HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, Nick shares valuable insights on how to find a reliable electrical contractor for renovation projects, including full rewires and light refurbishments. He emphasises the importance of defining your project scope, prioritizing essential work, and seeking recommendations from trusted sources such as friends, family, and local property investors. Nick discusses the significance of obtaining multiple quotes, checking credentials, and ensuring that electricians are registered with government-approved schemes. He also highlights the need for good communication, problem-solving skills, and the importance of a detailed written contract. Contact Aspect Electrical Services here: https://www.aspectelectricalservices.co.uk/ KEY TAKEAWAYS Before seeking an electrical contractor, clearly outline the scope of your project, including essential and desirable work. Be open to advice from the electrician regarding necessary changes. Look for recommendations from friends, family, local property investors, and letting agents. Experienced electricians familiar with renovation projects are preferable over those who only handle small jobs. Ensure the electrician is registered with a government-approved scheme (e.g., NICEIC, NAPIT) and has the necessary qualifications, such as a City & Guilds Level 3 diploma and 18th edition wiring regulations. Verify that they have public liability insurance. Always obtain multiple quotes to compare prices and services. Consider asking for different tiers of service (e.g., bronze, silver, gold) to understand the value of various options. Assess the contractor's communication skills, reliability, and problem-solving abilities. Ensure they respond promptly and professionally to inquiries and can handle unexpected issues effectively. BEST MOMENTS "Before you even seek the contractor, create a clear plan of the electrical work you think is needed, remembering that the electrician might come and advise you differently." "You want someone that does this regularly; it makes sense, doesn’t it really?" "You need to check they’ve got public liability insurance; that’s really important if something goes wrong." "If you have a rental property, you need a valid EICR. It has to be valid for you to be able to rent out that property." "Quality sometimes costs you a little bit more, but it shouldn't cost you loads more." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Today, Nick takes a look at the essential topic of landlord insurance in the UK. He outlines key considerations for property investors, including the importance of building insurance, contents insurance, and additional coverage options like loss of rent and public liability insurance. Nick notes the need to understand policy details, such as exclusions and limits, and encourages listeners to compare prices from specialist insurers to find the best value. He also highlights the significance of customer service and clear policy documents, reminding landlords to conduct thorough due diligence before making insurance decisions. KEY TAKEAWAYS It's essential to have building insurance that covers the structure of the property against various damages, including fire and flood. Be sure to check for exclusions, such as damage from Japanese knotweed. Consider whether contents insurance is necessary based on the items in the property. For properties with minimal contents, it may not be cost-effective due to high excesses. Look for policies that offer loss of rent cover in case the property becomes uninhabitable or if tenants stop paying rent. This can provide financial security during difficult times. Ensure you have public liability insurance to protect against claims from third parties and consider legal expenses cover for eviction proceedings or tenant disputes. Always read and understand the policy documents, including terms, conditions, and exclusions. This ensures you know what is covered and helps avoid issues when making a claim. BEST MOMENTS "One of the most important things you do to protect your assets is buy landlord insurance." "You need to check for exclusions; some policies may exclude certain types of damage such as subsidence or Japanese knotweed." "Not everyone wants accidental damage cover. So it's subjective; it's a personal choice, I think." "You need to know the rebuild cost because your insurer will ask, 'What's the rebuild cost on that property?'" "Make sure you understand the policy, what's included, and what's excluded. Very important." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Nick explains the UK’s Energy Company Obligation (ECO) scheme, a government initiative to boost home energy efficiency for low-income and vulnerable households. He covers the scheme’s purpose, eligibility criteria, and application process, highlighting the roles of energy suppliers, retrofit assessments, and local authorities. Nick also addresses common misconceptions, warns about misleading lead generators, and offers practical advice for landlords and tenants seeking grants for energy upgrades. KEY TAKEAWAYS The Energy Company Obligation (ECO) is a government scheme aimed at improving energy efficiency in homes, particularly for low-income and vulnerable households, and it is overseen by Ofgem. Homeowners and tenants may qualify for ECO grants if they receive specific benefits, such as Universal Credit or Pension Credit. However, landlords cannot apply on behalf of their tenants; tenants must initiate the application process. ECO grants are not traditional grants; they may require some financial contribution from the homeowner or tenant, and the level of funding varies based on the energy supplier's discretion. The ECO Flex scheme allows local authorities to refer households that may not meet the standard eligibility criteria but still require energy efficiency improvements, providing a potential workaround for those in financial hardship. Residents should ensure that any installation company they consider is Trustmark registered, as energy suppliers are not responsible for verifying the credentials of the installers they work with. BEST MOMENTS "I'm actually qualified to do retrofit assessments, so I know it's a lot more in-depth than what you get with a normal energy performance certificate." "Strangely, I had someone knock on my door before—literally, I'm talking half an hour ago—saying, 'You may be eligible for an ECO4 grant.' I wasn't interested, and I shut the door in his face because as soon as he mentioned 'grant,' I knew he was talking nonsense." "I never liked this sharing data, to be honest with you." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode of Nick delves into the intriguing concept of ancient lights, a 17th-century law that still holds relevance for property investors today. Nick explains the legal right to light, which allows property owners to receive natural light through their windows if they have enjoyed it uninterrupted for 20 years or more. Nick discusses the importance of expert assessments, legal considerations, and the necessity of engaging with neighbors during the design phase to mitigate risks.  KEY TAKEAWAYS  The doctrine of ancient lights grants property owners the legal right to receive natural light through their windows if they have enjoyed that light uninterrupted for 20 years or more. This right can impact neighboring developments. Developers must be aware that obtaining planning permission does not automatically protect them from subsequent legal claims related to rights to light. Courts determine whether a property has sufficient light based on expert evidence, often using the Waldron method, which equates to about 10 lux of light for activities like reading and sewing. If a property owner’s right to light is obstructed, they may seek remedies such as an injunction to stop construction, compensation for damages, or alterations to the development. Keeping detailed records and documentation throughout a construction project is crucial. This includes expert reports and communication with neighbors, as it can help prove compliance with light rights and mitigate potential legal disputes. BEST MOMENTS "Under ancient lights, a property owner may acquire to receive light through their windows, also known as the right to light." "The doctrine of ancient lights is primarily applicable in England and Wales; it's not generally recognized the same way in other countries." "Planning permission does not automatically protect a developer from a subsequent legal claim related to rights to light." "The most common way is to apply for it through the Prescription Act so you've had uninterrupted enjoyment for 20 years unless it's been blocked for 12 months or more." "It's essential that you seek legal advice immediately to explore your options which may be you can reach a mutual agreement." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l  The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs  HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/