How There May Be A Shortage Of Rent Property In The UK
Tenants are trapped in a buy to let log jam as the government deters landlords from renting out more homes that are desperately needed. A tax crack down on landlords continues next April as the Treasury phases out mortgage interest relief for higher rate taxpayers....
Where’s Hot And Where’s Not For Buy To Let
Peer to peer property funders have drawn up a list of places with the best and worst buy to let returns for landlords. Lendinvest matches cash from investors with buy to let borrowers as secured loans and mortgages. Blackburn, Lancashire, tops the table as both the...
How The Way Landlords Own A Home Impacts Property Tax
Close to 4 million people who own buy to let property or their homes with someone else have little idea of their tax and legal obligations, according to new research. One in four of 17 million property owners are impacted by their legal status as joint tenants or...
Renters favour short tenancies despite the uncertainty
Short tenancy agreements are undermining the buy to let market with uncertainty for millions of tenants and landlords. With standard tenancy agreements lasting six months or a year, tenants do not know whether to call a rented property home and landlords cannot make...
Stamp Duty In Wales To Be Scrapped For New Land Tax
Welsh politicians are expected to scrap stamp duty in favour of a new land transaction tax in the first step towards devolving tax raising powers from Westminster to Cardiff. The land transaction tax is expected to take the place of stamp duty from April 2018....
New Buy To Let Rules Make Landlords Mortgage Prisoners
Lenders are warning that changes in mortgage underwriting rules are set to fundamentally change the buy to let market. Enhanced underwriting criteria that has increased the rent cover calculation for landlords will impact on borrowing, warns trade body the Council of...
New Credit Rating Service Tracks Buy To Let Rent Payments
Landlords are urged to sign up for a scheme that helps tenants build a credit rating every time they pay rent on time. Credit bureau Experian is backing the Rental Exchange with a drive to recruit letting agents and buy to let landlords. The exchange tracks rent...
Buy To Let Unaffected By Brexit, Say Letting Agents
The first post-Brexit snapshot of the buy to let market passed off with a good bill of health, according to letting agents. Although the number of homes available to rent in July was at the highest level for the year so far, this was probably influenced by the rush to...
HMRC Make VAT U-turn After Tax Tribunal Defeat
HMRC wants property developers to file retrospective VAT claims after a change of mind about how many buildings can make a home. Developers who have converted a series of buildings into a single home since August 23, 2012, can make the claim. The HM Revenue and...
MPs Add Property Developer Tax To Latest Finance Bill
Tax changes for property traders and developers are detailed in a new bill currently before MPs. Although scare stories have claimed landlords will pay income tax on property profits instead of capital gain tax, the measures in the Finance Bill 2016-17 are quite...
Leafy Suburbs Where Rogue Landlords Lurk In The Shadows
It’s hard to believe the leafy suburbs of one of Britain’s most prestigious seats of learning are a black spot for rogue landlords. With a population of 150,000 and home to the dreamy spires of a world-class university, the housing enforcement team of Oxford City...
Selective Licensing in Weston-super-Mare Not Going Ahead
We previously reported that North Somerset Council were intorucing selective licensing within an area of Westone-super-Mare from 1 November 2016. We then reported that landlords were banding together to instigate legal action against the intoroduction of the licensing...
How Low Mortgage Rates Are Easing Landlord Finances
Buy to let landlord finances are continuing to stabilise due to low mortgage rates and a trend for fewer tenants to move. The latest statistics from trade body The Council of Mortgage Lenders and the Ministry of Justice give a detailed snapshot of the buy to let...
Tax And Accounting Revolution For Buy To Let Landlords
New moves are on the way that make keeping accounts and paying tax easier for up to 2.5 million buy to let landlords. Chancellor Phillip Hammond has announced a widespread of tax and accounting rules to ready HM Revenue and Customs (HMRC) for digital tax accounts. The...
Home’s Not So Sweet For Tenants In A Rush To Rent
Tenants are renting with regret because they feel they have to make rushed decisions about moving into a property, according to new research. Too many tenants viewing too few properties mean decisions have to be made quickly – and often these decisions turn out to be...
Britain’s Top Buy To Let Hot Spot Cities
Property investors and developers often look at buy to let hot spots to determine the best place to purchase an investment country – but they may not be where they believe. Home prices and rents are at the highest in London and the South East, but besides the special...
Jail Sentence For Illegal Eviction Landlord
Landlord Rehan Sheikh was sentenced to four months in jail after giving six tenants a two-hour warning that he was going to evict them after they complained about the condition of their shared home. He even threw out a mum while her two children were at school,...
HMRC Urged To Root Out Landlord CGT Tax Cheats
Suspected capital gains tax abuse by buy to let landlords is contributing to Britain’s mountain of £117 billion tax reliefs. A report by the National Audit Office (NAO) looking into HM Revenue and Customs (HMRC) accounts for last year reveals principle private...
Mortgage Tax Relief For Landlords Explained
HMRC has at last filled in the gaps on how mortgage finance relief will apply to buy to let landlords from April 2017. The new rules change the way property rental profits are calculated by taking away tax relief on mortgage and other finance interest for landlords...
Increase In Fee For Request For Warrant
After a possession order has been obtained, the county court bailiff must be used (unless permission to transfer to the High Court has been obtained) if the tenant fails to vacate after the date given in the order. A landlord must use the form Request for Warrant of...
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Landlords Building Insurance
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