buy-to-let
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Regulation & Law
Tory Peer rebels against the Chancellor’s buy-to-let plans
Lord Flight (left), Chairman of Flight & Partners Recovery Fund, and a former Shadow Chief Secretary to the Treasury, joined a chorus of disapproval today as he spoke out against the Government’s plans to raise taxes and limit allowances for buy-to-let investors. He wrote, “I hope the Government will re-think its sudden attack on Buy-to-let this summer and autumn. Otherwise, it risks the very crisis in the buy-to-let housing and lending markets of which the Governor of the Bank of England has recently warned. “Buy-to-let has been an entirely sensible market economy development, in most cases as an alternative to saving for old age via pension schemes. Up to World War II, investing in rented property was the main method of providing for an income in old age. Given the poor performance of the stock market over the last 20 years, it is hardly surprising that many people have opted for Buy-to-let investment as an alternative, and more successful, retirement provisioning investment. Buy-to-let has, moreover, provided some three million homes for those not able yet to afford to buy their homes – especially in London. “Buy-to-let does not enjoy any of the major tax advantages of pension saving: i.e. tax…
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Latest property news
Mortgage chief calls stamp duty hike ‘political stunt’
George Osborne’s decision to raise stamp duty for buy-to-let landlords has been dismissed as a “political stunt” by Managing Director of Vere Mortgages, part of deVere Group, one of the world’s largest independent financial advisory organisations. The Chancellor announced an additional 3 per cent stamp duty on second homes and buy-to-let properties in his Autumn Statement, adding thousands of pounds in tax. A property worth £275,000 will currently cost £3,750 in stamp duty but will cost £10,800 from next April when the tax rise comes into play. Buy-to-let is increasing and is currently at the highest level since before the financial crash in 2008. Rather than dampen the buy-to-let market and free up much needed properties for first-time buyers, Mike Coady (left), who heads deVere Mortgages, believes that the clampdown on buy-to-let investors will be “ineffective for its purported aims” of raising cash to help first-time buyers and paying for more affordable housing. Describing the tax measure as “something of a political stunt”, Coady thinks that the Government’s desire to be seen to be acting on this “emotive and topical issue” by appealing to the “politics of envy” with buy-to-let landlords and second homeowner the targets, will not just “trigger…
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Housing Market
Jeremy Leaf
Has the Summer Budget busted buy-to-let? George Osborne’s changes to mortgage interest relief and tax could have a serious effect on the market, says Jeremy Leaf.
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Housing Market
Boomtime for buy-to-let
Investor landlords expanding portfolios, new pension rules encouraging silver landlords, it’s all going well for BTL, says Marc Da Silva.
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Housing Market
Young investors set to fuel buy-to-let boom
Many young people may be struggling to get a foot on the housing ladder, but that does not mean that they do not recognise the potential benefits of investing in residential property. Fresh research provided by letting agent Rentify shows that nearly half – 49 per cent – of 18-39 year olds believe that acquiring buy-to-let property represents the best investment option in the UK today, with almost 4million people in this age group actively seeking to buy an investment property. With buy-to-let landlords having benefitted from a booming property market earning returns of up to almost 1,400 per cent since 1996 – capital growth and returns combined – it is easy to understand why it is an investment type that appeals to many people across all age groups, not just the young. George Spencer (left), CEO at Rentify said, “The fact that 49 per cent of first-time buyers would consider investing in buy-to-lets is fantastic and shows that there are more options out there and more people who want to get on the ladder.” But-to-let continues to beat returns on all other mainstream investments, including commercial property, UK government bonds, shares and cash, and that trend looks set to…
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Features
Check out your tenants to protect your landlords
Comprehensive reference checks, including eviction history, background reports and credit score are absolutely critical to evaluate prospective tenants, says Marc Da Silva.
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Features
Playing the buy-to-let game
Andrea Kirkby says investors can win the buy-to-let game, if they hit the right location, at the right price, at the right time.
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Agencies & People
Lettings – it’s all about risk and reward
Are you doing everything possible to support your landlords?
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Features
Developing portfolios
Pitiful savers rates, rising rents and low cost mortgages are fuelling demand for buy-to-let investments, presenting agents with revenue making opportunities, as Marc Da Silva reports.
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Features
Manifestos, markets and mansions
Election fever is here. The countdown has begun. Jeremy Leaf reviews pre-manifesto statements to see what could happen on 7th May.
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