Author: Coast to Country Lettings
Bonfire night can be so much fun. Both the young and the young at heart celebrate the November 5th anniversary of the Gunpowder Plot. On this day in 1605, Guy Fawkes, a Catholic explosives expert, attempted to blow up the Houses of Parliament. It was, however, a failed attempt and has been commemorated ever since. Guy Fawkes day is celebrated with fireworks, bonfires and parades. Dummies (guys) are tossed on the bonfire, causing it to flare up to the amazement of onlookers. It can be thrilling, with fireworks displays as well. The downside to it is that, there are risks…
Before the EU referendum, there were several ominous warnings on the negative effect Brexit would pose for the rental market. The most significant was that property prices would take a dive due to reduced demand, even the ex-chancellor George Osborne claimed that price of housing could drop as low as 18% if Britain left the European Union. Well, four months later, and not much can be said about those predictions. According to a new survey on buy-to-let properties, released by Your Move, there has been little impact on rental prices since Britain voted to exit the EU. The report states…
These haven’t been the best of times for UK Landlords. You may recall, early this year, the chancellor announced a new stamp duty surcharge of 3% on all buy-to-let properties worth more than £40,000 -which is almost all buy-to-let property assets. This means a significant cut into long-term returns on buy-to-let property investments. For example, stamp duty on a £500,000 property for buy-to-let will cost £30,000, or 6% of the cost price. Another law, announced not long afterwards, states that tax relief for landlords will be cut to a fixed rate of 20%. This is a massive reduction from the…
The buy-to-let sector is witnessing an upward swing despite temporary setback from changes in tax and stamp duty. This is one of the conclusions from a new market study by Connells Survey and Valuation, which indicates a growth of 12.7% sector last month, defying post Brexit market fears. The corporate services director of Connells Survey & Valuation, John Bagshaw says there is a flurry of activity in the buy-to-let sector at the moment. This is just as the property market quietly adjusts to recent government policy changes targeted at checking forecasted negative impacts of the Brexit vote on the economy.…
Mortgage Brain came out with new figures showing that mortgage rate reductions continue to offer benefits to a variety of property owners. BTL mortgages are attractive to people of all ages interested in investing or padding their retirement savings. The average landlord today can expect a five year fixed Buy-to-Let mortgage with a 70% Loan-to-Value ratio to be 8% lower in cost than in March 2016. At a rate of 2.80% as of 1st September 2016, property owners can save about £738 on a £150k mortgage over the course of the year. This is great news, since BTL interest rates…
“We are seeing an increasing trend of savvy landlords taking direct control of how their property is let and managed and becoming much more self-sufficient.” – Alex Huntley from Simple Landlords Insurance
Andre Lloyd, Managing Director of Search Acumen, says the government’s reported plan to abandon its initial decision to privatize Land Registry is laudable and will serve the common interest.
From the 1st of April, 2018, landlords could face fines of up to £150,000 if their rented property falls below the Minimum Energy Efficiency Standards (MEES) introduced in March 2016.
According to a recent report released by ARLA, the rental market remained quite stable following Britain’s decision to leave the European Union last month. Shortly after the Brexit poll, the buy-to-let market is steady with little or no change in terms of rental costs. Although 12 percent of letting agents stated that there was a quick drop in rent, a significant 77 percent observed no difference in rental costs. This is contrary to market forecasts; before reports were released, 19 percent predicted that there would be a rise in rents, and 20 percent expected a decline. Only three fifths of…
Reports from a recent survey by estate agency Your Move and Reeds Rains show that first-time home buyers in the UK may have to break the bank in order to buy a house, even though the market has been shaky following results of the European Union referendum. In May, first-time buyers paid a standard £173,282 in order to become homeowners, and the figure went up 2.7 per cent from £168,656 last April–15.8 per cent higher than the average £149,645 that was seen in May 2015. This means that in the past 12 months, first-time buyer house costs have surged upwards…