acquiring buy-to-let homes
-
Latest property news
Can this lending buy-to-let startup help agents sell more homes?
The entrepreneur behind P2P lender Landbay has launched a business that claims to help increase the number of investment properties agents can sell.
Read More » -
Latest property news
Property sales boost was no April Fool
31st March was a busy day for My Home Move, completing a record number of property transactions. To help people complete their property transactions before the 1st April stamp duty changes came into play, My Home Move – provider of mover conveyancing services – alongside many others in the industry worked around the clock to complete a record of 1,210 property transactions on 31st March. This was a significant jump of 40% from the previous record in December last year. My Home Move completed more cases on 31st March alone than 93% of conveyancing firms completed in the whole of 2015. As a result, this marked both a record day and record month of completions for the business and is likely to have been a similar story across the industry. The record day also made it a record month, with My Home Move completing a total of 6,178 mover transactions in March, a 22% increase from its previous monthly record in October 2015 (5,060 completions). Doug Crawford (left), CEO, said, “There was a great amount of dedication last Thursday and in the preceding days and weeks to help customers purchasing an additional property and win the race to save on…
Read More » -
Latest property news
Landlords aim to beat tax rises
A growing number of property investors are choosing to acquire buy-to-let homes through corporate vehicles to get around paying an extra 3 per cent above existing stamp duty rates on second homes, mortgage brokers report. There has been a surge in demand for buy-to-let properties in recent months from investor landlords keen to beat the 1st April deadline for the stamp duty surcharge. But to avoid the hit, it has been reported that a growing number of landlords are setting up company structures to manage their rental properties. Mortgages for Business report that it has seen the proportion of applications acquiring property within a corporate vehicle surge from 18 per cent to more than 50 per cent in the past six months. Forming company structures to manage their rental properties will also enable many landlords to continue to deduct mortgage interest from their tax bill as it will be viewed as a business expense. This will allow higher rate taxpayers to more than halve their tax bill because they will pay corporation tax, rather than income tax, which will be 19 per cent from 2017, and will fall to 18 per cent by 2020. Similarly, the ability to take income…
Read More »
