buy-to-let
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Latest property news
Number of cash buyers hits ten-year low as more investors exit market
The number and value of cash purchases of property within the UK has reduced significantly over the past decade, says Hamptons International.
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Latest property news
Investment properties offer sweet returns
Investors were out in force at SDL Auctions Bigwood’s 133 lot September auction which raised over £17 million with a success rate of 85 per cent.
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Latest property news
Landlord and managing agent fined £22,000 for unlicensed HMO
A landlord and his managing agent in Tufnell Park, North London have been fined a total of £22,000 over an unlicensed HMO.
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Guest Blogs
Landlord exodus
380,000 landlords plan to reduce their portfolios, says the NLA. Nick Mann, Associate at Seddons, reviews the potential impact.
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Latest property news
‘Don’t blame buy-to-let landlords for first time buyer problems’
TheNational Landlords Association believes mortgage access and high deposits are real reason for first time buyer pain, not buy-to-let landlords.
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Latest property news
Landlords set to make £162,000 profit per property over next 25 years
Landlords in the near future will not be the dying breed some industry commentators would have agents believe, research by a leading lender has revealed. Chatham-based KentReliance says its data shows landlords in the UK will make an average net profit of £162,000 per property over the next 25 years – in today’s money – despite the government’s recent tax take. This equates to £6,500 per property per year and includes both rental income and capital gains. KentReliance says the figures prove buy-to-let investment still has long-term appeal for landlords, even though over the 25-year term they will pay £100,000 in tax. That includes £60,000 in capital gains tax, £29,000 in income tax and £10,000 of stamp duty, assuming the landlord is a lower rate tax payer. “The buy to let market is undergoing a sea change,” says John Eastgate of KentReliance’s parent company, OneSavings Bank (pictured, below). “Regulatory and taxation changes have altered the market dynamic, reducing its attractiveness to amateur landlords, and increasing the tax bills of higher-rate investors. “In spite of rising costs, there are still healthy returns to be found in property for committed investors, but the days of speculation are gone. “It is a long-term…
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Latest property news
Stamp Duty rise driving landlords to spend on upgrades not portfolio expansion, says Countrywide
Figures from agency giant reveal yet another unintended consequence of the government's desire to squeeze landlords financially.
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Latest property news
Landlords enjoyed £86,600 buy-to-let bonanza last year
Landlords who sold a buy-to-let property last year made a capital gain of £86,660 on average in the UK and had owned it for just under nine years, it has been revealed. But the capital gains made in London put these national figures to shame. Landlords selling up in London last year made a capital gain of £254,000 on average per property, says Countrywide. Its latest buy-to-let research reveals that, therefore, a landlord who invested in property within London eight years ago will have made three times more money from selling their property than those outside the capital. Eight of the top ten places where landlords have made the largest capital gains from their buy-to-let properties are in London and include Brent, Waltham Forest, theCity of Westminster, Haringey, Lambeth, Pendle, Islington, Kensington & Chelsea and Southwark Buy-to-let gains In these areas landlords who sold up last year enjoyed huge capital gains including, in Westminster and Kensington & Chelsea, gains of over half a million pounds on average. Also, in these areas of London 28% of landlords who sold up last year doubled their original investment. “Even in areas where price growth has lagged behind, most landlords have made a profit…
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Features
It’s grin up North
Buy-to-let’s a better bet in the North, says Joanne Christie and savvy agents are working hard to attract the investors.
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Latest property news
Portfolio landlords struggle to get mortgages as PRA rules kick in, research shows
Nearly three quarters of landlords with multiple properties are finding it harder to get either mortgages or remortgage existing debt as the Prudential Regulation Authority’s second wave of mortgage rules kick in, it has been revealed. Research completed on behalf of lender Foundation Home Loans among 2,000 landlords found that 70% of those with more than four properties had struggled to obtain further finance to buy more properties, while half of those with between one and three properties also faced problems. The second wave of PRA rules went live in September last year to allay fears that excessive borrowing by banks on generous terms to landlords might endanger the economy during a downturn. The larger the portfolio, the harder it has become for landlords to get the green light for more finance, largely because those with more than four properties are now effectively classed as enterprises and must submit business plans to get a home loan or remortgage an existing one. Rejected by lenders Two thirds of landlords with eleven or more properties within their portfolio now believe the range of mortgages available to them has dropped, while a quarter think they are now more likely to be rejected by…
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