The way buy to let profit is calculated will be changing – are you up to date?


    The new tax year is almost upon us and now would be an excellent time to organise your tax affairs and to plan for additional changes to the tax treatment of mortgage interest. The phasing out of mortgage interest relief for buy to let landlords was first announced in the 2015 Budget. It will restrict the amount that landlords can offset against finance costs on residential properties to the basic rate of income tax. In ord...READ MORE

  • First-time buyers hit 10-year high as buy-to-let property sales fade

    The number of first-time buyers hit the highest level for a decade in 2017 while lending for buy-to-let has gone into retreat, according to official figures. A total of 365,000 buyers took ownership of their first home last year, an increase of 7.4% on 2016 and the highest number since 2006, said UK Finance, the trade body for Britain’s banks. Its data showed that the average first-time buyer was 30 and had an income of £41,000. Property experts said the gov...READ MORE

    7 Mar 2018 | Comments
  • Ombudsman Services to withdraw from complaints handling in the property sector

    For a significant period of time, using an ombudsman has been a successful way of resolving complaints with a property firm without having to go to court. However, the Ombudsman Services (OS) announced yesterday that it is withdrawing from complaints handling in the property sector. Instead, it will be launching a dialogue with consumers in an attempt to tackle what it described as an ‘imbalance in power’ in the housing sector. A managed withdrawal from exis...READ MORE

    8 Feb 2018 | Comments
  • Hot Topic: What is Universal Credit and how will it affect the market?

    When the Government announced reforms to the benefit system to a single payment called Universal Credit (UC) it had a basic premise, to be a benefit which helps the unemployed to become employed and to support the under-employed to become employed full time. In order to achieve this, the benefit is paid monthly like a wage, including help for housing costs in the same way a wage would. Furthermore it is administered by one department, the Department for Work...READ MORE

    10 Jan 2018 | Comments
  • Autumn Budget 2017: Stamp duty has been axed for first-time buyers but what does this mean?

    In the recent Autumn Budget 2017Chancellor Philip Hammond announced the axing of stamp duty charges for first-time buyers who purchase a property with immediate effect. What this means is that first-time buyers will not have to pay stamp duty on the first £300,000 of any home that costs up to £500,000. The Treasury estimates that this move will mean 80% of first-time buyers will not have to pay stamp duty altogether. A first-time buyer is considered to be so...READ MORE

    29 Nov 2017 | Comments
  • Spending by cash landlords at its highest level in a decade

    Over the last year, landlords buying in cash have spent more than at any time in the past decade, according to new figures. The number of landlords buying in cash has continued to rise with £21 billion worth of homes bought this way over the last year. This is £0.2 billion more than in 2016 and a 32% increase on 2007 when only £15.9 billion was spent. Many landlords have re-mortgaged to take equity out of homes they already own. 65% of all homes bought by a ...READ MORE

    15 Nov 2017 | Comments
  • How will the proposed letting agent fees ban impact the market?

    Following the announcement of proposals to ban tenant fees in the Queen’s speech earlier this year, we consider the impacts the planned legislation is likely to have on different parties in the buy to let market. Positively The Tenant’s Fees Bill has been proposed to promote a greater level of transparency in the housing market. Currently fees are paid by tenants to the letting agent for taking references, getting credit checks or investigating immigration s...READ MORE

    25 Oct 2017 | Comments
  • How to get on the shared ownership ladder in London

    A generation ago the majority of young professionals would have never seen shared ownership as of the few only ways to get on the property ladder. However a vast numbers of successful adults in their 20s and 30s today find themselves in the frustrating situation of being unable to buy a home outright. Latest research from Halifax shows that an average first-time buyer in London must spend more than £410,000 on their starter home, and find a deposit of £100,0...READ MORE

    4 Oct 2017 | Comments
  • Millennial pressures lead to rentals increase

    Millennials have become one of the most active groups in the UK rental market, as more of this generation turn to renting in favour of purchasing their own home. Figures published last year by PwC forecast that by 2025, more than half of those aged under 40 - predominantly those in the millennial age range - will be active in the rental market. It means this will be the largest group of renters in the UK. The financial pressure of building a large enough dep...READ MORE

    13 Sep 2017 | Comments
  • A cap on tenancy deposits could lead to more disputes says industry trade body

    As part of the Queen’s speech earlier this summer, the Government unveiled its draft Tenants’ Fee Bill which included details of issues such as a cap on holding deposits and security deposits and the impending ban on letting agent fees that tenants are charged. The proposal is that holding deposits are capped at no more than one week’s rent and the security deposit no more than one month’s rent down from the current level charged by landlords of up to two mo...READ MORE

    24 Aug 2017 | Comments

Diary of a first-time Landlord

Tenancy up for renewal

26 April 2014

We’re coming to the end of our first year as landlords. The letting agent has sent us a routine, and carefully timed, letter asking if we wish to continue letting and whether they should make a formal offer to our current tenants. I feel we’ve been very fortunate in finding a family to live in Mum’s house, who appear to have...READ MORE

Heard it on the Grapevine

UK’s only place to evade the six-figure average property price tag revealed!

Ask for a property costing less than £100,000 in the UK, and you are more likely to be laughed out of your ...READ MORE

Your Stories

I found 25 people living in my 2 bedroom flat!

I am fortunate enough to own five or six properties across the UK, all of which have thrown up different challenges. But probably the most unusual story I have to tell...READ MORE



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