Councils have the right to charge tax on empty properties

I have read an article stating that the Government have given local authorities the right to start changing council tax on empty properties. Philip Hammond stated "It can’t be right to leave property empty when so many are desperate for a place to live" We all know this is a load of crap. It is another way to generate money for a starving government. I don't know about the rest of the country but around here landlords want rent money and if a property is empty it is usually because it is going through read more

Treasury keen to include rental payment on credit reports

I have just read an article saying that the treasury is keen to include rental payment on credit scoring websites like Experian, Call Credit and Equifax. The article goes on to say that minsters are discussing this issue and are keen to put through a motion for good tenets to increase their credit profile and possible be home owners in the future. Read here if you are interested in the article read more

Stamp Duty increases causes house slump for April

There were further signs of a slowdown in the property market in April, as the number of sales fell significantly, while fewer people took out mortgages. The number of residential property transactions in the UK dropped by 22.5% between March and April, according to HM Revenue and Customs (HMRC). Analysis by the data firm Equifax also suggests that mortgage sales declined by 16% over the same period. But the figures are skewed by a series of tax changes this year and last. In April 2016, landlords became read more

Buying a house in Glasgow is more cost Effective that Renting

Buying a home is more cost-effective than renting in 48% of British cities, according to a property website. Zoopla analysed the asking prices and rents of two-bedroom homes currently on the market in the UK's biggest cities. It found that buying works out cheaper than renting in many parts of Scotland, northern England and the West Midlands. Glasgow, Coventry and Birmingham were the top three cities for cost-effective buying. Cambridge, London and Brighton were top for cost-effective renting. Top 10 read more

The bank of England does not believe in a free market

The Bank of England is expected to signal a clampdown on buy-to-let lending when it reports on the mortgage market for landlords. The Bank has been watching the buy-to-let market for some time and is concerned about the amount of money pumped into the market and its vulnerability to even a small rise in borrowing costs. Threadneedle Street’s regulatory arm, the Prudential Regulation Authority, will on Tuesday publish a report on underwriting standards for buy-to-let mortgage lenders alongside scenarios for testing the read more

Stamp Duty extended !!! Will Scotland do the same?

The government has extended the period before the higher stamp duty rate will apply to second homes, and the time in which homeowners can claim a refund, from 18 months to 36 months. This will give those who have an overlap between two properties or are "moving in difficult circumstances" longer to dispose of their main residence. In the Budget documents, the government confirmed that there will be no exemption from the higher rates for significant investors, and that higher rates will apply equally to purchases read more

More Drama With Tax and BTL’s

In a response to the Treasury’s consultation paper into the higher SDLT charges, the specialist lender said the changes risk affecting those who cannot afford to or choose not to buy a residential property. The lender argued that a smaller supply of properties in the private rented sector (PRS) would drive up rents and limit choice for tenants. “Whilst we agree that support for home-buyers is an important strand of housing policy, if the interests of home-buyers are prioritized above the interests of those in the read more

Landlords Beware. Better check those immigrants B4 letting

Landlords will have to start checking passports and visas of new tenants from Monday February 1 as "right to rent" legislation comes into force. Families taking in lodgers also have to make sure the person has the right to live in the UK. Fines of up to £3,000 apply where tenants are not entitled to live in Britain. The legislation, which came in under the http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/12124995/Buy-to-let-warning-Immigration-checks-apply-from-February-1.html Act 2014, is read more