Friday, April 21, 2017

Fines issued to property landlords under right to rent rules

Fines for immigration breaches were imposed on 62 property landlords between February and Sept last year under Home Office ‘right-to-rent’ rules, the Press Association has revealed.

The Right to Rent rules requires landlords or householders to obtain evidence that tenants or lodgers have a right to be in the country by taking copies of official documents such as passports or identity cards. Failure to do so can lead to fines of up to £3000.

The data on Home Office civil penalties levied for letting to tenants or lodgers without the right to rent were reveled following a Freedom of Information request.

The level of fines i ranged from £80 to £3,000, with most relating to one or two tenants, with three cases involving three tenants.




Despite the reports of 62 fines, it should be remembered that there are around 2 million buy-to-let landlords in the UK who provide accommodation for the private and public sector, for instance through private sector leasing or accommodation for homeless families.

Some investment experts (like stockbrokers and bankers who sell shares) claim that the stock market offers the best returns, but where else can you use 80% leverage or loans to purchase investments which gives a healthy yield and capital growth over the longer term? 

Put another way, will your bank lend you £80,000 to buy shares or even their own managed unit trusts and pension funds? To save you time and embarrassment from being laughed out of the bank, I'll give you the answer: "NO"! Why? Because it's too "risky" they will say. Try asking them.

Too risky for them to lend on, but not for their financial advisers to sell you to save for your retirement! They will lend on property on a buy-to-let investment at rates starting at LESS than 2%. 

You pay one fifth of the price of a property, the bank lend your four fifths and the tenant pays off 100% of the loan.

The UK is an attractive place to work, start a business or buy property - even with no money down, with no restrictions on foreign buyers and a vibrant mortgage market with record low interest rates. Leading economists predict that, despite Brexit, house prices will continue rising due to shortages of stock and strong demand in the rental sector.

If you would like to learn more about investing in UK property, I have a limited number of complimentary tickets to a LIVE EVENT  - Beginners Property Course (held in the UK), which will give you the basic knowledge and techniques to get started. If you are interest, email me your full name and telephone number to euukimmigration@gmail.com.

See also:

Turn Your Passion into Profit

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