Currently viewing the tag: "landlords"

Pension Freedom Fuels Increase In UK Property InvestmentPension Freedom Fuels Increase
In UK Property Investment

Since UK pensioners were granted full control of their retirement savings in April 2015, an estimated 60,000 (70%) pensioners have taken advantage of their ability to take some or all of their accumulated pension in a lump sum, with many opting to put their cash into property instead as an alternative to annuities, shares and bonds.

According to the latest Global Real Estate Outlook report published by property investment company IP Global, property remains a far more predictable and stable longer term option compared to alternative investments in the stock market.

In the UK, property prices in London and Manchester are leading the way, with prices in Greater London increasing by 12% in the last year alone.

New properties in Manchester may appear to be valued at less than half the average of London properties, however, residential property prices are expected to continue rising to close this gap, with new projections putting Manchester’s property price growth at a staggering 26.4% by 2019.

Continue reading »

Looking For A Buy To Let Mortgage?

Quarter Of Potential Property Investors Don’t Know How To Apply For Buy To Let Mortgages

New Research Discovers That Quarter Of Potential Property Investors Don’t Even Know How To Apply For Buy To Let Mortgages

New research by a specialist mortgage lender has discovered that an amazing 28% of would-be property investors don’t know how to apply for a buy to let mortgage in order to finance their property purchases.

The figures show that 1 in 4 potential property investors considering investing in property to boost their retirement income don’t know how to apply for a buy-to-let mortgage to get started on their property investment journey.

The research, conducted by specialist mortgage lender Kensington, also found that 54% of people approaching retirement age would consider investing in property using buy-to-let mortgages in order to help increase their income in retirement, but many didn’t know what they needed to do or what evidence to provide in order to apply for the correct type of mortgage.

Continue reading »

Change in Capital Gains Tax Rules for Non-UK Resident Landlords

Change in Capital Gains Tax Rules for Non-UK Resident Landlords

Change in Capital Gains Tax Rules for Non-UK Resident Landlords

Last month – 6th April 2015. the legislation concerning Capital Gains Tax (CGT) for Non-UK resident landlords came into force, which may seriously affect Non-UK property owners when it becomes time to sell their property assets in the UK.

Any sale of residential properties in the UK concluded before the date of the legislation change, whether the property concerned was a main residence or an investment property and owned by Non-UK resident, should not incur any additional tax charges. 

Continue reading »

NLA Publishes Landlords At A Glance Guide To Voting

NLA Publishes Landlords At A Glance Guide To Voting

NLA Makes It Easier For Landlords To Vote
With At A Glance Guide To Main Political Party Manifestos

The National Landlords Association (NLA) have decided to make it a bit easier for floating landlord voters who may not have decided who they intend to vote for yet, by compiling a short at a glance guide to where each political party stands on key policies related to property ownership in the UK private rental sector and landlord life.
As we published on Spotlight yesterday, every political party have their own views on each of the following measures:

  • Rent Control
  • Longer Tenancies
  • Landlord Licensing
  • Landlords’ Register
  • Letting Agent Fees
  • Landlord Tax

Tomorrow is polling day in the UK (7th May), so if you haven’t already decided which of the political parties should get your vote as a landlord and business owner, the National Landlords Association has decided to make it a bit easier for floating landlord voters by compiling a helpful guide to where each of the main political parties stand on key landlord and property related policies.

Continue reading »

Politicians Want PRS Control

Politicians Want PRS Control

Labour Announces Further PRS Controls

The Labour party leader, Ed Miliband, has announced his party’s plans to reform the private rented sector (PRS), with longer term tenancies and rent cap proposals, should they win the May general election.

Labour have been at the forefront of the PRS reform movement for some time, campaigning for longer term tenancies for tenants in the private sector and now the political party leaders want to introduce even more legislation that would effectively cap rental prices so they cannot be increased by more than the rate of inflation (CPI) during the proposed secure three-year tenancies.

The PRS control proposals were supposed to win the hearts and minds of the 9.1 Million households currently living in private rented sector properties, however even tenant campaign groups can see that these new proposals have more holes in them than an old Swiss cheese.

The introduction of new legislation that Labour are proposing would require landlords and letting agents to disclose the rental prices charged to any previous rented property occupants, allowing tenants to have the upper hand in negotiating the best possible rental price with landlords, before the start of a new tenancy.

Do TESCO provide customers with information concerning the actual purchase price that they pay for items before they sell them on at a huge profit, do they reveal operational profit margins – No they don’t!
Prices fluctuate as do operational costs, why should landlords be singled out for special measures when other business sectors are left alone?

Continue reading »

Referrals To The Property Ombudsman Increase

Referrals To The Property Ombudsman Increase

Huge Rise In Referrals To
The Property Ombudsman

There was a 42% increase in the number of referrals to The Property Ombudsman (TPO) last year, according to The Property Ombudsman’s Annual Report for 2014.

The latest publication of The Property Ombudsman’s annual report shows that six months after the introduction of new legislation, making it a legal requirement for UK letting agents and property managers to join one of the three government approved redress schemes, the number of letting agencies and property management companies signed up to the TPO scheme has reached 12,915, a new record level.

The 42% increase in registered property lettings and estate agent businesses brings the total number of UK estate agents and property lettings offices offering free, independent route to resolve property and tenancy disputes to 26,735.

Continue reading »

Green Party Leader Blames Landlords For UK Housing Crisis

Green Party Leader Blames Landlords For UK Housing Crisis

Green Party Leader Under Attack For Demonising
Private Rented Sector Landlords

The leader of the Green Party, Natalie Bennett has attracted a great deal of criticism after she attacked buy-to-let landlords operating in the private rented sector (PRS) blaming them for helping to cause the UK’s housing crisis.

Ms Bennett cited extremely high rental returns for landlords with property in the UK private rental sector in the recent television debate between the opposition leaders.

She referred to a report published by the Wriglesworth Consultancy and lenders Landbay stating that there had been a 1,400% return for buy-to-let landlords since 1996.

But the report’s authors suggested that the calculations and methodology involved were far more complex than the Green Party leader had portrayed.

Continue reading »

Labour Manifesto Aims To Change PRS Forever

Labour Manifesto Aims To Change PRS Forever

Labour’s PRS Rent Control And Tenure Plans Under Attack

Labour’s manifesto confirms their plan to introduce 3 year tenancies and a ceiling on excessive rent rises in the UK’s private rental sector (PRS).

Previous Government’s have tried introducing rent controls and the result discouraged the building of new homes as well as reducing more financial investment in their rental property portfolios by landlords.

For years rent controls caused damage to the nation’s housing market, reducing the number of properties being built and recovery took almost a decade. The current rhetoric being touted around by politicians could have disastrous consequences for house builders and landlords alike.

The introduction of longer term tenancies is very much geared towards tenants but fails to address the problems already faced by landlords when tenants abscond without giving any notice, leaving the landlord out of pocket and looking for new tenants.

The UK’s private rental sector (PRS) has improved dramatically over recent year’s thanks in part to the introduction of tighter legislation, but there remains a delicate balance between regulation and altering the relationship between tenant and landlord. Intervention on rents and security of tenure has in the past damaged both market liquidity and good business values within the PRS.

Continue reading »

How Landlords Are Affected By 2015 Pre-Election Budget

How Landlords Are Affected By 2015 Pre-Election Budget

How Landlords Are Affected By 2015 Pre-Election Budget

During the pre-election budget last week, Chancellor of the Exchequer, George Osborne MP announced some significant changes that could have a detrimental impact on landlords the UK’s private rental sector (PRS) and residential property owners.

Below are the highlights of the pre-election budget that are of relevance to landlords and property owners:

  • £13 Billion (GBP) sale announced of the mortgages of UKAR – Northern Rock and Bradford and Bingley (Mortgage Express) to reduce national debt which followed the bailing out of the banks.
  • Introduction of 20 new housing zones.
  • The economy of the North grew faster than the South during 2014.
  • The UK has the highest rate of employment in its history!
    Employment is growing fastest in the North West, Yorkshire having the biggest employment.
  • Living standards are higher in 2015 than 2010.
  • Inflation forecast downgraded to 0.2%.
  • Low interest rates to be “locked in”.
  • Original target of debt reduction set in 2010 budget has been met.
  • 13 years of rising national debt has now been stopped.
  • UK achieved the largest and most sustained debt reduction of any major economy according to the IMF.
  • Government borrowing is falling.
  • The wealthy are making the biggest contributions to reduce debt.
  • End of austerity in 2019.
  • The annual tax return is to be abolished. New digital tax accounts to be created.
  • The personal tax free allowance has been raised to £10,600 (GBP) and will be raised to £11,000 (GBP) in 2017.
  • The higher rate tax threshold will rise to £43,300 (GBP) by 2018.
  • Class 2 national insurance contributions abolished for self-employed.
  • Stronger measures against tax avoidance and tax evasion.
  • Review of avoidance of inheritance tax through deeds of variation.
  • New penalties for tax evasion and those professionals who assist them.
  • Crime down 20%.

There was some good news contained in the 2015 pre-election budget too:

Continue reading »

There Will Never Be A Better Time To Invest In Property

MyPropertyPowerTeam.co.uk helps property investors and landlords build their own property power team to enable them to profit from property - Visit our main site now!