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Found 7 results

  1. ...and then agrees to be a poster child for thick spivs: Fraudsters exploited my angry tweet A bank customer was tricked into transferring money by fraudsters who pretended to be responding to his angry Twitter post about poor service. Writer Mike Tinmouth was furious with the process and time taken to open a business account with Barclays. He expressed his frustration in a public tweet - which was seized on by fraudsters who posed as the bank in an attempt to trick him out of £8,000. Fraud experts say con-artists are becoming skilled at impersonation. 'Lulled into paying' Mr Tinmouth wanted to open a business account to deal with the income and expenditure of some properties that he was letting to tenants. He applied to Barclays, but the process dragged on and eventually he made a complaint on Twitter. See Mike Tinmouth's other Tweets He even posted an email that he received from the bank which he felt was unprofessional and had to confirm was genuine. The bank urged him to delete this public post. All this information, together with some personal details that were already available about him online, was enough for fraudsters to mimic the bank and appear to know details of the case. "They targeted me because they are monitoring the big banks' customer support Twitter channels where they can get enough information on name, location, and photo to then be able to track down further information," he said. Soon after the Twitter exchange, he received another email apologising for the poor service and offering to deal with his case. This time the message was from a fraudster posing as his bank. After various exchanges, he was provided with details of his "new" account, and he started to transfer money from his personal current account with a different bank. The transfer was blocked, saving Mr Tinmouth from losing the £8,000 he intended to move between the two accounts. Barclays said that customers should always be careful about posting details in public, and that it had a system of ensuring customers dealt with the bank's social media teams on private channels. No-one should transfer money to a new account without having all the relevant paperwork and full control of the account, a spokesman added. "In this case, we advised Mr Tinmouth on the process he should follow to speak to us about his query. However while we were in contact, he engaged with an unverified email address and provided personal information to scammers, which led to him being targeted," a spokesman said. Katy Worobec, managing director of economic crime at UK Finance, which represents the major banks, said that criminals would try to impersonate legitimate organisations, such as banks, police, utility companies or retailers. They would contact potential victims through social media applications in an attempt to trick them into giving away their details. "Always question any phone calls, texts, tweets or emails out of the blue asking for your personal information in case it is a scam, and never automatically click on any links," she said. "Instead contact the company directly on a known phone number or email, such as the one on their official website. If you think your personal or financial information may have been stolen, contact your bank straight away and also report it to Action Fraud." Names matter The attempt to trick Mr Tinmouth happened in the same week that plans were confirmed for a new system aimed at reducing fraud. The Payment Systems Regulator has now opened consultation into the proposal to ensure than a recipient's name is checked, along with their account number and sort code when transferring money. This process would have stopped Mr Tinmouth earlier in the process, as he would have realised that the destination account was not his own, but in the name of somebody else entirely. Other victims of fraud may also have been stopped from transferring money had they realised the account holder they were paying was wrong. Gareth Shaw, from consumer group Which?, said the change - which would take effect "early" in 2019 - was long overdue. "Customers will question why it's taken their bank so long to implement a system that could have prevented devastating financial losses years ago," he said. "To halt the alarming rise in bank transfer scams we must now see swift implementation of this much-needed measure across the board."
  2. Got a letter through the door with details of the new(ish) landlord licensing scheme for Nottingham. Complete with a section explaining exactly why this WON'T lead to rent rises and the benefits for tenants. Here's the letter: Side 1 Side 2 Interestingly (or maybe not) my landlord used this as an excuse to put my rent up for the first time in three years- by about 5%. He reckoned it would cost him thousands per year. Hmm...
  3. Hello. We are making a documentary series about the rental market and are interested in hearing tenants’ and landlords’ experiences – good and bad. We are looking for people who are interested in taking part in a social experiment where landlords and tenants experience renting through each other’s eyes. Please email us on [email protected] or 07393 554846
  4. I stumbled across this June 2013 study for this first time recently, Understanding Landlords, which says it is a "study of private landlords in the UK using the Wealth and Assets Survey" It is quite a substantial report. Two of the authors (Lloyd and Barnes) have had roles in government as policy advisers. As you might expect PRS landlords tend to be better off, however the thing that tickled me is the following which is mapped out in Chapter 6 of the report. All comparisons I give here are relative to non-landlord homeowners: PRS landlords are: Less likely to own their own home outright and more likely to have a mortgage Far more likely to have a larger, more expensive home Far more likely to have a large (£200k+) mortgage outstanding against their home Far more likely to have in interest-only mortgage More likely to have a mortgage at higher LTV (60%+) Far more likely to have significant equity in their own home (£175k+) There are other interesting bits and bobs in the report. Considering the leveraged landlords in the sample, from my particular perspective, being whether or not these guys might make good foam on the runway during a correction, what really caught my eye is that they've really bet the lot on UK residential property as, the rental properties aside, it's the bubble equity in their own homes which looks to be the core of their balance sheets. They'll make reasonable foam, but they are unlikely to have a pot to piss in after a correction unless they deleverage aggressively before the housing market turns. You have to admire their faith in property.
  5. HMRC have issued a public consultation document for "businesses, individuals, tax advisers, professional bodies and any other interested parties involved in the letting of residential property" to comment on Replacing Wear and Tear Allowance with Tax Relief for Replacing Furnishing in Let Residential Dwelling-Houses. The direct download link is here and comments are open until 09/10/2015 if anyone would like to write in to [email protected] on the subject.
  6. Just this weekend I was amazed at the amount of flyers from letting agents wanting to let the property I'm in. Were addressed to 'The home owner but my landlord is a subsidiary of a Housing Association and they do their own advertising and letting. I live in an area full of flats that are predominently rented out privately. I actually received THREE flyers from Haart Two arrived Friday and one arrived yesterday. If they afford to post duplicates like this then I would hate to know how much they are charging Landlords and tenants for their services. The number of tenants on their books fill me with woe. How many of them would have otherwise bought a home of their own if property prices were more reasonable? Coincidentally, I should be moving to another flat in a few weeks time. My landlord had 4 groups of potential tenants waiting to view on Friday alone (only 2 turned up, however). Flats in this part of Norwich, that I am now tired of, will let very quickly. Tenants wiaiting! by ProgRocker77, on Flickr
  7. London landlords accused of hijacking AirBNB website with thousands of short term listings. http://www.lettingagenttoday.co.uk/672-london-landlords-accused-of-hijacking-website Can see a six month AST being considered a 'long term secure tenancy' in the future as everywhere is let out as short term 'holiday' lets. http://www.theguardian.com/technology/2014/jun/20/buy-to-let-landlords-leasing-properties-airbnb-uk
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