If you are renting out you home without permission READ THIS!

Bank and building societies are taking a keener interest in whether borrowers are renting out properties without their permission, Telegraph Money has learned. This involves further quizzing of borrowers at the mortgage application stage as well as on-going scrutiny to check, for instance, whether borrowers continue to live in the mortgaged property. Several lenders are reported to be going even further and adopting data-sifting techniques like those used by HMRC to spot tax-evasion. This involves trawling the read more

UK rents fall for the first time in over 8 years

UK rents fell by -0.3% in the year to May – the first time there has been an annual reduction in eight years, HomeLet’s May Rental Index has found. Rents in London have fallen by -3% in that time, followed by the North East (-2.3%) and Scotland (-1.9%). Rents have risen by the most in the East Midlands (3.3%), North West (2.2%) and the South West (2.1%). London rents fall for first time in eight years Martin Totty, chief executive officer of HomeLet, said: “May 2017 saw average rents nationally fall for the 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

The Good, The bad and the Ugly of buy to let mortgages

THE GOOD Interest rates on buy-to-let mortgages continue to fall, while the variety of deals on offer rises. Skipton Building Society is the latest to cut its rates, shaving up to 0.18 percentage points off its two-year fixed rate deals. They now start from 2.19 per cent while its five-year deals now start from just 3.69 per cent. 'I’ve been investing for years - there are ups and downs' Long-term landlord and buy-to-let commentator Sanjay Arora sees clouds on the horizon for some buy-to-let investors – but believes read more

New BTL Tax could be illegal

A report by The Daily Telegraph states Blair and human rights lawyer Adam Smith-Anthony have sent HMRC a letter outlining the points of their legal challenge. Acting on behalf of private landlords Steve Bolton, founder of Platinum Property Partners, and Chris Cooper, Blair’s firm Omnia Strategy argued that individual landlords are being treated differently from their corporate counterparts. The Chancellor’s changes, announced during his Summer Budget, will see landlords taxed on their turnover rather profit. 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