buy-to-let
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The big buy-to-let bounce
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “The Chancellor’s increase in Stamp Duty for buy-to-let properties caused a massive leap in activity.”
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Features
Goodbye-to-let?
The Chancellor’s tax hit on buy-to-let is damaging, but, says Andrea Kirkby, there are choices for property investors.
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Latest property news
BoE: “Very volatile boom and bust conditions”
The Bank of England has announced plans to introduce more stringent checks on buy-to-let lenders amid concerns that the property investment market is moving into bubble territory.
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Latest property news
Buy-to-let landlords choose auctions to sell properties, says Auction House
Auction House, the UK’s biggest property auctioneer says there’s growing evidence that an increasing number of buy-to-let landlords are choosing to sell by auction rather than via estate agents. Director, Roger Lake says that the argument is swinging back to favour those selling such homes as tenanted investments rather than servicing notice to the tenant and selling them as vacant properties. He (left) said, “The problem for the landlord is how to achieve the best sale price without losing too much rental income. Most estate agents tell their letting clients to decant their tenants before instructing them to sell the property. But that approach comes with some major disadvantages. Not only do landlords stop receiving rent but the property often looks unkempt and might need redecoration. The process is invariably long and sometimes tortuous and will require the landlord to find monthly mortgage repayments from other sources for up to six months or more. “By contrast, an auctioneer will recommend that landlords sell with tenants remaining in place and the properties offered as tenanted investments. This has the prime advantage of the landlord continuing to receive rent while the sale is taking place. The property also usually presents better when…
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Latest property news
Interest in buy-to-let could plummet
Interest in new purchases from buy-to-let investors dropped 27 per cent in March compared to the same month last year as April 1st tax change starts to bite, according to Rightmove. The fall reverses the upward trend between December and February which brought a 24 per cent year-on-year increase in buy-to-let enquiries, indicating a potential slowdown in new investor purchases at least in the short-term. Demand from home-hunters is at an all-time high with a record number of Q1 enquiries, so the pause from investors could give some first-time buyers more of an opportunity to make a move. Some buy-to-let investors took a break from looking for new properties in March as the new tax changes deadline loomed, the new data from Rightmove reveals. Whilst Rightmove recorded its busiest ever Q1 for enquiries to estate agents, the intentions of buyers shifted in March, with the number of people saying they were planning to buy a property to rent out dropping by 27 per cent compared to the same month last year. This contrasts with the increase in interest seen from investors between December and February (+24 per cent year-on-year) as they tried to make last minute purchases before April’s additional…
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Latest property news
Does buy-to-let still stack up?
Investors rushed to snap up homes before April’s buy-to-let tax changes - but what’s next? Marc Da Silva reports.
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Features
What’s next for buy-to-let?
"After an exciting and long ride, buy-to-let is now under attack from higher taxes, posher, new student homes and build-to-rent. So what’s next for buy-to-let?"
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Latest property news
The Budget 2016
A mixed bag for the residential property market, with no cuddly Easter rabbits coming out of Mr Osborne’s hat and a nasty shock for larger property investors.
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Latest property news
Chancellor’s assault on buy-to-let “is mystifying”
The Chancellor George Osborne has been slammed for his outright assault on buy-to-let investors following the introduction of a stamp duty surcharge last week, while also exempting landlords from fresh cuts to Capital Gains Tax, and planning further tax increases on property investors. The former Editor of The Times and the London Evening Standard, Simon Jenkins (left), questioned in his latest column for The Guardian columnist whether George Osborne was really a Tory. He also described Osborne’s “assault” on buy-to-let as “mystifying”. He wrote, “With the withering away of public housing, private renting is how evermore people live, especially in cities. They include the migratory rich, millennials, those unable to afford a house and those who are just very poor and cannot get a council tenancy. Between 2001 and 2011, private renting in London went from 17 per cent to 26 per cent of the housing market, and is continuing to rise.” Jenkins believes that encouraging the release of under-occupied space is the one sure answer to the housing shortage, and the most efficient way of doing this is by encouraging letting, especially in London. “Renting is the most efficient use of urban property. It keeps things flexible. It is…
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Latest property news
Investors hung out to dry as BoE gets tough
The Bank of England has announced plans to introduce more stringent checks on buy-to-let lenders amid concerns that the property investment market is moving into bubble territory. The Bank’s Prudential Regulation Authority said it was putting in place a “guardrail” to prevent banks from making risky loans, warning that 20 per cent of lenders were not carrying out the necessary checks. The main concern is that a bubble in the buy-to-let market could cause a wider housing market slowdown, which would be bad news for millions of people who have invested in property, as part of their retirement. More than 1.7 million properties have buy-to-let mortgages, which represented 17 per cent of loans used to acquire residential properties last year. “You might form expectations about what the necessary long-term saving to support your retirement will be, which can then (if house prices fall) be transformed quite suddenly in ways that, frankly, are unwelcome,” Bailey said. Andrew Bailey (left), who currently heads up the Prudential Regulation Authority, told the press that the Bank of England has “nothing against” buy-to-let landlords, but believes that new restrictions on mortgages for buy-to-let investors will help reduce the risk of “very volatile boom and bust…
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