Money Tips Podcast

UBI or a universal basic income has been talked about by governments and think tanks for years. Now Germany has started an experiment to see if UBI can replace some of the income from the millions of jobs – both blue and white collar - expected to be lost to robots, machines and AI.

Switzerland and Finland have previously ran UBI pilot schemes.

Driverless vehicles alone will wipe out tens of millions of jobs and AI is replacing white collar jobs in banking and investment, law and accountancy.

Over 28 million people, or almost one fifth of the American workforce, were collecting some form of unemployment payment in the week ended 1 August, the BBC reports.

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Apple is first US company to hit $2 trillion

• M&S to shed 7000 office and retail jobs

• John Lewis and Debenhams close stores

• Third of UK employers plan further job cuts

• UK economy shrinks by 20% April to June 2020

• UK is officially in recession after successive GDP falls

• One in three UK employers plan more redundancies

• Redundancies soar fivefold despite furlough scheme

• Unemployment to double 7.5% and economy slump 9.5% 

• Half as many jobs are being advertised compared to 2019

• Self-employed, have you claimed your government grant?

• Base rate held at 0.1%, interest rates to stay low for 5 years

• Lenders not passing on rate cuts and mortgage rates going up!

• The end of furlough sees millions more unemployed this autumn

• UK house prices reached a new all-time high in July as buyers return

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

On 9 August 2016, 25-year-old Hugh Richard Louis Grosvenor became the billionaire 7th Duke of Westminster, when his father, Gerald Grosvenor, suddenly died of a heart attack aged 64. 

The Duke and his family are estimated to be worth at least £10.1 billion (US$13 billion), according to the Sunday Times Rich List in May 2019. The exact amount of wealth is difficult to estimate, since most of it is held in trusts. 

The current Duke is the world's richest person aged under 30. Other families appear higher on the Sunday Times list, but privately held property is undervalued compared to company shares on the stock market, and very few people have stayed in the top 10 as long as the Dukes of Westminster.  

How have this extraordinary family maintained their vast wealth, passing down through the generations for 300 years? As the Chinese say, most family fortunes disappear after only three generations.

The first reason is smart tax planning.

If the Grosvenor estate been bequeathed directly to the young Duke, he would been liable for 40% inheritance tax, not far off the Treasury’s death duty take for the last financial year. Inheritance tax (IHT) usually involves selling off assets in order to pay the tax, which would wipe out the fortune within a few generations.

Hugh Grosvenor, like his father, legally avoided a massive amount of tax on his £10bn inheritance because the majority of assets within the estate are held in trusts.

UK trust law ensures the survival of many of the country’s largest fortunes, while less wealthy people and increasing the middle classes are forced to sell off family homes to cover IHT demands. 

The second reason their wealth is still growing for centuries is the use of leases.

The Grosvenor Estate’s assets includes a privately owned property business which has £11.8bn of prime property under management. The 300-year-old London property business started in 1677 with 500 acres of then rural land covering much of Mayfair and almost all of Belgravia – adjacent to Buckingham Palace and the home of Harrods in exclusive Knightsbridge. 

Grosvenor’s international property portfolio range from office space in Silicon Valley, a science park in Edinburgh and the freehold on the current US embassy in Grosvenor Square. Perhaps the most famous and exclusive streets in the empire is Eaton Square, built close to the Houses of Parliament during the housing boom after the Napoleonic wars.

There was recently a listing on Rightmove for a flat in Eaton Square for only £600,000. I thought, wow, that’s a bargain for an exclusive address in Knightsbridge. Alas, I looked closer I discovered that it was not such a bargain because the remaining lease was only 5 years.

The key to keeping hold of their assets is the use of leasehold titles, which means the freeholds eventually comes back to the family.

The final factor for keeping wealth together, and perhaps the most important, is that the family take the long view and employ long term planning. 

Whilst most people plan to leave a legacy for their children or grandchildren, the Grosvenors, and other super wealthy families like the Rothchild’s or Rockefellers, think several generations ahead and have a wealth preservation strategy.

The previous Duke saw himself as the custodian of the family fortune and struggled with the burden of keeping it all together. The responsibility even led to his depression.

The fact that the business is largely made up of investment property from residential to some of the biggest farms in Britain is obviously a major factor compared to a family business which can go out of fashion or fail to adapt to changes. However, thousands of property businesses have gone by the wayside and the UK is littered with country estates now owned by the National Trust because the once wealthy aristocratic families could no longer afford to maintain them.

Summary

3 factors have kept the Grosvenor’s fortune intact:

1. Trusts
2. Tax planning
3. Long term planning

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Is the stock market about to crash? 

• How will a crash affect your pension?

• House prices rise to reach all time high

• How to avoid bankruptcy in business

• Will demand for HMO rooms rise or fall?

• Is this the end of office work as we know it?

• Home workers one step closer to outsourced

• Why live in expensive town centres anymore?

• Buy-to-let landlords ignore “NO DSS” tenant ban

• Thousands trapped in unsellable leasehold flats

• 2m homeowners apply for mortgage payment holiday

• Government extends ban on landlords evicting tenants 

• Self-employed, have you claimed your government grant?

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

Could Wall Street tech stocks sell-offs and poor economic outlook indicate another market correction? Apple 6.7%. Amazon, Facebook and Microsoft dropped by 4%. Dow Jones Industrial Average closed 2.25% lower, S&P 500 fell 2.78% and Nasdaq dropped 2.95%.

The global economy is expected to shrink by roughly 5% this year, which is huge. 

With Covid-19 showing signs of a return, further lockdowns could stall economic recovery.  

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Is the stock market about to crash? 

• How will a crash affect your pension?

• House prices rise to reach all time high

• How to avoid bankruptcy in business

• Will demand for HMO rooms rise or fall?

• Is this the end of office work as we know it?

• Home workers one step closer to outsourced

• Why live in expensive town centres anymore?

• Buy-to-let landlords ignore “NO DSS” tenant ban

• Thousands trapped in unsellable leasehold flats

• 2m homeowners apply for mortgage payment holiday

• Government extends ban on landlords evicting tenants 

• Self-employed, have you claimed your government grant?

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

The UK's largest housebuilders are being investigated by a watchdog after "troubling evidence" has emerged over the way leaseholds on newbuild housing estates have been sold to property buyers.

Major companies like Barratt Developments, Countryside Properties, Persimmon Homes and Taylor Wimpey are facing legal action from the Competition and Markets Authority (CMA), which could take the developers to court.

Buyers have been caught in a leasehold trap, with rising ground rents, unfair fees and properties which could become difficult to sell.

The CMA has demanded information from the developers and could go to court.

Many people do not realise that when they buy a leasehold flat or house, they own a lease which gives them the right to use the property for the length of that lease. However, leaseholders are also restricted on what they can do with the property and often have to obtain their freeholder or landlord's permission for any work or changes to their homes.

Typically, on a leasehold flat or house, a new lease is granted for a fixed period of between 99 and 125 years – in some cases 999 years. Whilst it’s true that people may extend their lease or buy the freehold, this can be expensive and many people find themselves at the mercy of a greedy landlord.

Houses are also sold on a leasehold basis where house owners are charged expensive ground rent and service charges, in addition to rip-off fees just to make alterations or improvements to their homes. Most flats are sold as leasehold and most houses as freehold. A leasehold house is notoriously difficult to sell and should be avoided.

The CMA watchdog said leasehold buyers were being hit with ground rents that doubled every decade, and said that others were wrongly advised that they could not buy the freehold on a site.

Katie Kendrick, a leasehold victim, set up the National Leasehold Campaign six years ago and now has 18,000 members.

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• House prices hit all time high

• How to avoid bankruptcy in business

• Tax increases plan to pay for furlough

• Zero interest credit card deals returning

• Will demand for HMO rooms rise or fall?

• EU staff offered chance to go home to work

• Is this the end of office work as we know it?

• Home workers one step closer to outsourced

• What will happen to all the city office blocks?

• Why live in expensive town centres anymore?

• Buy-to-let landlords ignore “NO DSS” tenant ban

• Restaurants extend ‘eat out to help out’ scheme 

• Thousands trapped in unsellable leasehold flats

• 2m homeowners apply for mortgage payment holiday

• Government extends ban on landlords evicting tenants 

• Unemployment to double 7.5% and economy slump 9.5% 

• Self-employed, have you claimed your government grant?

• Lenders not passing on rate cuts and mortgage rates going up!

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

As the recession deepens and the end of the furlough scheme looms, Ann Summers becomes the latest retailer to threaten landlords with CVA unless shop rents are renegotiated

Some landlords are “burying their heads in the sand”, says Ann Summers boss Jaqueline Gold.

Ann Summers is a hugely successful lingerie and sex toy chain, which has brought the industry from the backstreets into mainstream retailing in the high street. They famously selling millions of pounds worth of products through ‘party plan’ selling in customers houses.

Gold warned that unless landlords come to the table, they would ask to restructure its rent costs through a Company Voluntary Arrangement (CVA), which would wipe out much of its debt and liabilities such as lease agreements.

A CVA is a legally enforceable rescue deal that enables limited companies to close unprofitable parts of the business, such as low performing stores, reduce their rent on others without going into bankruptcy or liquidation which would wind up the business.

Jacqueline Gold said landlords needed to recognise things had changed.

"Ultimately no retailer can afford to run stores unprofitably, and with business rates set to return next spring, the challenge of property costs is going to become even more pressing than ever," she said.

Writing in Retail Week, Ms Gold said the threat of a CVA was "no idle threat".  

Source: BBC

In my experience, commercial landlords can be ruthless especially to smaller tenants with no clout. I have seen many small business owners made bankrupt by landlords over unpaid rent on a binding lease agreement.

5 tips to avoid bankruptcy

1. Avoid signing long leases especially in your own name.
2. Avoid signing personal guarantees.
3. Limit your personal liabilities and debts.
4. Incorporate your business
5. Take out liability insurance

Individuals suffer most from debts and can lose everything including their home.

Jaqueline Gold or Richard Branson will not lose their home of one of their companies fails because they are not sole traders or in a partnership. 

The above information should not be treated as personal financial advice, and you should always take advice from your own advisers, accountants and lawyers who know your personal circumstances.

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Tax increases plan to pay for furlough

• Zero interest credit card deals returning

• Will demand for HMO rooms rise or fall?

• EU staff offered chance to go home to work

• Capita to shut a third of offices permanently 

• Is this the end of office work as we know it?

• Home workers one step closer to outsourced

• What will happen to all the city office blocks?

• Companies still have long leases on big offices

• Why live in expensive town centres anymore?

• Buy-to-let landlords ignore “NO DSS” tenant ban

• Restaurants extend ‘eat out to help out’ scheme 

• Thousands trapped in unsellable leasehold flats

• 2m homeowners apply for mortgage payment holiday

• Government extends ban on landlords evicting tenants 

• Unemployment to double 7.5% and economy slump 9.5% 

• Self-employed, have you claimed your government grant?

• Lenders not passing on rate cuts and mortgage rates going up!

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

“No DSS” tenant blanket ban ignored by buy-to-let landlords despite ‘unlawful’ ruling by Judge

The BBC has launched its own investigation into landlords who still advertise their properties to rent using the terms “No DSS” or “Working tenants only”. Last month, a District Judge has ruled that blanket bans on renting properties to people on housing benefit are unlawful and discriminatory.

The county court ruling found a single mother-of-two had experienced indirect discrimination when a letting agent refused to rent to her. She subsequently ended up homeless with her two children, when her case was taken on by housing charity Shelter.

The judge ruled "No DSS" rental bans are against equality laws.

District Judge Victoria Mark heard the case in York County Court on 1 July, and ruled: "Rejecting tenancy applications because the applicant is in receipt of housing benefit was unlawfully discriminating on the grounds of sex and disability" and “contrary to the Equality Act 2010”.

According to a BBC report, landlords are apparently still flouting the “ruling”.

However, a lower county court ruling may influence other court decisions as a ‘persuasive authority’ in similar cases, but is not binding in law.

The National Residential Landlords Association's (NRLA) Deputy Director for policy and research, John Stewart, told the BBC that it had "always advised landlords they should not blanket ban benefit claimants" but the "fundamental issue was the affordability of renting".

He added that there are a number of valid reasons why rental listings said benefit claimants were not accepted, including:

• The timeliness and levels of benefit awards - including complaints about universal credit, a shortfall between housing benefit and private sector rents and in some cases, fluctuating levels of benefit income
• Banks and insurers saw benefit claimants as higher risk
• Landlords trying to avoid extra fees for tenants who would fail credit checks and references

Complaints about Universal Credit taking months to pay landlords and then giving the rent directly to the tenant have been widespread.

Source: BBC

Shelter is a left-leaning charity which campaigns for the end of “no fault” evictions, further regulation in the social housing sector and new laws to force landowners to build more social housing.

The organisation has an annual income of £67 million, of which £18 million comes from “grants and contracts”, some of which comes from government or taxpayer’s money. They reported a £3.5 million “surplus” (charities do not pay tax and cannot make profits so the make surpluses instead), in 2018/19. The CEO is paid a salary of £128,000 a year – over 4 times the UK national average wage.

Shelter holds £16 million in reserves according to its Annual Report 2018/19 and had fund balances of £26 million. Although they could build a lot of social housing with £26 million, Shelter does not provide “shelter” or housing.

Left-wing pressure groups like Shelter would like to take the private rented sector seventy years back to the days of rent controls and effective lifelong tenancies or ‘sitting tenants’, which would have the effect of private landlords deserting the market in droves. Ironically, rent controls in the 1950’s and 1960’s led to a shortage of private rental properties and the very rogue slum landlords which led to Shelter being founded.

Everyone in the UK should have a home, but does that mean everyone has a “right” to a home or a legal right to rent a home from a private buy-to-let landlord regardless of their circumstances?

We are supposed to be living in a free and democratic capitalist country, not a Marxist state. Landlords must also be able to choose who they want to take on as a tenant based on their circumstances and ability to pay.

This is not a political blog, but I have to say that socialism and communism doesn’t work. It has been tried all over the world from the failed states of USSR to Venezuela, yet keeps coming back like a virus you can’t kill. Karl Marx idea of capital and land in the hands of the state has been a disaster and led to millions dying of starvation in Maoist China and North Korea.

I have current experience with both private and benefit tenants with mixed results.

The LHA rates in some areas are simply not competitive or equivalent to the open market rate and dealing with benefit claims is a steep learning curve for landlords. Deposits and upfront rent can also be an issue.

Landlords with buy-to-let mortgages may be in breech of their mortgage conditions if they let the property to tenants on benefits.

The private sector should not have to pick up the pieces for the failures of successive governments to build sufficient social housing for a growing low-wage population. There has been no major council house building programme since the 1970’s.

The last major town to be built with proper infrastructure and rail transport links was Milton Keynes which, along with other new towns such a Harlow and Basildon, were planned in the 1960’s.

Councils could easily build more social housing and borrow to do at favourably low rates, but many choose not to for a variety of reasons.

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Zero interest credit card deals returning
• Is this the end of work as we know it?
• Is it really more efficient to work at home?
• Home workers one step closer to outsourced
• What will happen to all the city office blocks?
• Companies still have long leases on big offices
• Why live in expensive town centres anymore?
• The ‘eat out to help out’ scheme ends Monday
• Thousands trapped in unsellable leasehold flats
• Number of homes repossessed falls to record low
• Mortgage possession claims fell by 97% to just 161
• 2m homeowners apply for mortgage payment holiday

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?

By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

The Confederation of British Industry (CBI) head, Dame Carolyn Fairbairn, said that Britain’s City centres could become "ghost towns" unless the Prime Minister Boris Johnson does more to encourage workers to go back to the office, the head of the CBI says.

New Look wants rents reduced to zero as part of CVA rescue package.

Top 50 UK employers have no plans to fully reopen offices. Major UK employers plan to keep staff working at home and have no immediate plans to bring them back to the offices, a BBC survey reveals. 

What opportunities will there be for property investors?

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Is this the end of work as we know it?

• Is it really more efficient to work at home?

• What will happen to all the city office blocks?

• Companies still have long leases on big offices

• Why live in expensive town centres anymore?

• The ‘eat out to help out’ scheme ends Monday

• Thousands trapped in unsellable leasehold flats

• Number of homes repossessed falls to record low 

• Mortgage possession claims fell by 97% to just 161

• 2m homeowners apply for mortgage payment holiday

• Government extends ban on landlords evicting tenants 

• Unemployment to double 7.5% and economy slump 9.5% 

• Self-employed, have you claimed your government grant?

• Lenders not passing on rate cuts and mortgage rates going up!

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

Top 50 UK employers have no plans to fully reopen offices

Major UK employers plan to keep staff working at home and have no immediate plans to bring them back to the offices, a BBC survey reveals.

Is this the end of the office as we know it?

What opportunities will there be for property investors?

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Is this the end of work as we know it?
• Is it really more efficient to work at home?
• What will happen to all the city office blocks?
• Companies still have long leases on big offices
• Why live in expensive town centres anymore?
• The ‘eat out to help out’ scheme ends Monday
• Thousands trapped in unsellable leasehold flats

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?

By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

The number of houses being repossessed by banks plummeted to a record low in the second quarter of this year, according to Zoopla.

The Ministry of Justice (MoJ) said the “unprecedentedly low levels” of possessions were due to government measures introduced to help homeowners by forcing lenders to offer mortgage holidays during the coronavirus pandemic.

The were no homes repossessed in the three months from April until the end of June, according to the MOJ. The number of mortgage orders for possessions dropped by 96% to just 149. Mortgage possession claims fell by 97% to 161.

Landlord possession claims also fell by 89%.

The government introduced a number of measures to enable people to stay in their homes even if their incomes were hit by the Covid-19 pandemic after the UK first entered lockdown in March.

The Financial Conduct Authority (FCA) advised homeowners and landlords in difficulty to apply for a three-month mortgage payment holiday.  

The government passed the Coronavirus Act, which put a temporary halt on all repossession activity, initially for three months, and later until 23 August this year. The government extended the ban on landlords evicting tenants on Friday, two days before it was due to end.

Landlords are unable to start eviction proceedings against tenants even if they are anti-social or in arrears their rent. 

Figures reveal that two million homeowners and landlords applied for a mortgage payment holiday since the initiative was first launched.

Repossessions and tenant evictions will resume in large numbers once support measures come to an end, but there will be huge backlogs and long delays in enforcing court orders.

A tenant could probably get away without paying rent for another year before an eviction took place. 

If your mortgage payment holiday is coming to an end and are worried about paying your mortgage you should talk to your lender and avoid burying your head in the sand. Open those letters!

In theory, lenders can voluntarily offer repayment holidays for a limited period and could accept reduced repayments or switch you over to an interest-only mortgage, which would substantially cut your monthly payments.

You could ask your lender to extend your mortgage term, which can make your monthly repayments smaller, although the total amount repaid over the term would increase.

Low interest rates have prevented hundreds of thousands of mortgage borrowers from losing their homes since the last financial crisis. In the previous four recessions, interest rates shot up to record levels and repossessions and bankruptcies went through the roof. 

The trade body, UK Finance, has urged homeowners to resume full mortgage payments if they can afford to do so, and you don’t really want mortgage arrears on appearing your credit file.

Despite all the measures, homelessness has not been eliminated by a long shot. I was in central London last night and I was shocked to see the number of people sleeping rough in doorways and on the streets. I have seen this before, but not on this scale. 

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Number of homes repossessed falls to record low 

• Mortgage possession claims fell by 97% to just 161

• 2m homeowners apply for mortgage payment holiday

• Government extends ban on landlords evicting tenants 

• Unemployment to double 7.5% and economy slump 9.5% 

• Self-employed, have you claimed your government grant?

• Lenders not passing on rate cuts and mortgage rates going up!

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

The UK government extended the ban on landlords evicting tenants in England and Wales today until 20 September in a dramatic last-minute U-turn hours before the ban was due to end, following fears that up to 243,000 could lose their homes.

In most cases, renters will also get six months' notice if their landlord plans to evict them until the end of March.

The block on tenant evictions during the coronavirus pandemic was due to end on Sunday and courts were due to resume section 21 and section 8 eviction cases on Monday after a five-month pause.

The Housing Secretary Robert Jenrick talked of "supporting renters over winter" adding that, when the ban was lifted, the most serious cases of anti-social behaviour, other crimes, and unpaid rent for over a year would be heard first.

Prior to the pandemic, a notice of eviction was normally two months, but in Wales, that had already been extended to six months until the end of September and remains under review.

The last-minute reprieve for tenants comes amid warnings by homelessness charity Shelter that more than 170,000 private tenants have been threatened with eviction by their landlord or letting agent, and 230,000 in England have fallen into arrears since the pandemic started.

Ben Beadle, chief executive of the National Residential Landlords Association, said: "A blanket extension is unacceptable, especially so close to the deadline. This announcement satisfies no-one.

"Landlords have been left powerless in exercising their legal right to deal with significant arrears unrelated to Covid-19, anti-social behaviour and extremely disruptive tenants who make life miserable for their neighbours and housemates.

"Private landlords cannot be expected to foot the bill for government failure."

The National Residential Landlords Association is worried that landlords have been left powerless in dealing with non-payment of rent, which in most cases is needed to pay their mortgages.

Landlord groups have called for more help in England to reduce the financial pressures on landlords, in addition to mortgage holidays.

Local authorities would be unable to house thousands of homeless people at a time when they are struggling to cope with thousands of illegal migrants crossing the English Channel on small boats every week. 

Citizens Advice for tenants

• Tenants under threat of eviction should start gathering evidence such as receipts for rent paid or any communications with your landlord
• Landlords have to give you notice before they can apply to court for a possession order. For most tenancy types this notice must now be at least three months in England or six in Wales, but lodgers may get less notice
• If a possession order had already been made against you before 27 March 2020, then your landlord may apply for this to be enforced when the ban comes to an end. You should receive 14 days' notice of the eviction date
• Anyone now struggling to pay rent should speak to their landlord, and organise a repayment plan to pay off arrears
• Those receiving housing benefit or Universal Credit and unable to pay rent might be able to get a discretionary housing payment from the local council

Source: Citizens Advice

Other articles available at Money Tips Podcast - www.moneytipsdaily.com

• Another travel firm goes bust 

• Croatia latest country on covid hit list

• Apple is first US company to hit $2 trillion

• Third of UK employers plan further job cuts

• UK economy shrinks by 20% April to June 2020

• Unemployment to double 7.5% and economy slump 9.5% 

• Self-employed, have you claimed your government grant?

• Lenders not passing on rate cuts and mortgage rates going up!

• UK property prices jumped by 3% since June following stamp duty cut

• Why UK Property prices rising after stamp duty cut, despite the downturn?

• New planning rules will open up more opportunities to make money in property

• You can create a second income during the lockdown…and come out stronger

• Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. 

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? 

By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on how to survive the crisis and even quit the rat race, email me at [email protected] or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com