Capital Gains Tax relief to encourage longer tenancies and sales to tenants in private rented housing, RLA response

Responding to proposals from the Conservative Think Tank, ‘Onward’ today for Capital Gains Tax relief to encourage longer tenancies and sales to tenants in private rented housing, David Smith, Policy Director for the Residential Landlords Association said: “We welcome Onward’s acceptance of the need for more positive taxation in the rented sector which the RLA…

Read More

Mark Carney Governor of Bank of England agrees to extend his term

At the request of the Chancellor, the Governor has agreed to extend his term to January 2020. Commenting on the extension of Mark Carney’s time as Governor, the Chancellor said: “I’m delighted that the Governor has agreed to stay in his role for a further seven months to support a smooth exit from the European…

Read More

Housing announcements in the Autumn Statement

The Chancellorÿ announced yesterdayÿ in the Autumn Satement a new œ2.3 billion Housing Infrastructure Fund to deliver up to 100,000 new homes in areas of high demand and a further œ1.4 billion to build 40,000 additional affordable homes, also another œ1.7 billion by 2020-21 will be used to speed up the construction of new homes…

Read More

Many homeowners think that house prices are falling.

Many expected the bank base rate to be cut earlier this month  due to apprehension over the Brexit decision, this did not happen to the surprise of most. The MPC in their July meeting suggested that the committee is considering a broader package of measures, this has given rise to the expectation by financial markets…

Read More

Bank of England cuts growth forecast

The governor of the Bank of England Mark Carney yesterday delivered his monthly inflation report, he included the warnings about the economic risks if Britain votes to leave the European Union, this was jumped on immediately after by former Chancellor Norman Lamont who challenged his comments. The central bank reportedly downgraded its forecasts for growth…

Read More

Implications of “Brexit on UK property market

A vote to leave the European Union “Brexit” would cause  house prices to fall significantly, George Osborne has said. The Chancellor reportedly said yesterday on the ITV’s Peston on Sunday show  “It’s already clear from the Treasury analysis that for example, there would a significant shock to the housing market, that would hit the value of…

Read More

Lenders compete for BTL mortgage business

Buy-to-let mortgage rates are being slashed to record lows in an effort to keep the market alive following the continued efforts by the Chancellor George Osborne to keep the buy-to-let boom under control. In fact these efforts by the Chancellor appears to have  triggered what might be called a ‘price war’ as lenders compete to…

Read More

Average rents rise as landlords get squeezed.

Tenants in the private rented sector (PRS) are now beggining to feel the affect of  George Osborne’s policies over the last year,  the attack on Landlords has been virtually non stop, last year’s Autumn Budget and Spending Review certainly was the last straw for many property investors, many came out  losers  following the way tax…

Read More

Landlords and tomorrow’s budget

Buy-to-let lender Paragon has reportedly put it to the Chancellor George Osborne not to make further changes to tax on landlords ahead of the budget that will be announced tomorrow. Landlords in the UK feel increasingly under attack especially over the last 12 months, with legislation such as the EU Mortgage Credit Directive and increase…

Read More

Opposition to tax relief changes for landlords.

It was announced this year by George Osborne that from 2017 the tax relief at 40% or 45%  presently enjoyed by landlords on their mortgages on buy-to-let property will be cut to a flat rate of 20%. This has been seen as unfair by some in the industry, a recent report in The Guardian reports…

Read More