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 […]
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?
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RLA Think Tenant Sub-letting Will Be Catastrophic For Landlords
Following on from last week’s pre-election budget delivered by Chancellor of the Exchequer, George Osborne MP, landlord organisations and their landlord members are expressing grave concerns over the Government’s plans to allow private rented sector tenants to begin sub letting their rental properties.
The
Following on from last week’s pre-election budget delivered by Chancellor of the Exchequer, George Osborne MP, landlord organisations and their landlord members are expressing grave concerns over the Government’s plans to allow private rented sector tenants to begin sub letting their rental properties. The Budget document published after Mr Osborne delivered his speech contains a clause about sub letting on page 51, under the title “support for the sharing economy”. Continue reading »
RLA Think Tenant Sub-letting Will Be Catastrophic For Landlords
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 […]
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:
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HMRC Want To Share Your Data With Private Companies …For A Fee, Of Course
New proposals could see HMRC sharing personal tax data with private sector companies, if the plans being considered by Her Majesties Revenue & Customs (HMRC) come to fruition.
If the proposal gets the go-ahead from the Government it would allow HMRC to […]
HMRC want to sell tax details to private sector companies
HMRC Want To Share Your Data With Private Companies …For A Fee, Of Course
New proposals could see HMRC sharing personal tax data with private sector companies, if the plans being considered by Her Majesties Revenue & Customs (HMRC) come to fruition.
If the proposal gets the go-ahead from the Government it would allow HMRC to lease tax data to third party companies including private firms, researchers and even public bodies, earning them a nice amount of additional revenue.
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Buy-To-Let Mortgage Lenders Set To Offer Retiree’s Mortgages
Buy-to-let mortgage lenders are reconsidering their age restrictions following the Government’s announcement to give pensioners unlimited access to their retirement savings.
The move has prompted a specialist mortgage lender to offer pensioners under the age of 70 […]
Buy-To-Let Opportunities For Pensioners
Buy-To-Let Mortgage Lenders Set To Offer Retiree’s Mortgages
Buy-to-let mortgage lenders are reconsidering their age restrictions following the Government’s announcement to give pensioners unlimited access to their retirement savings.
The move has prompted a specialist mortgage lender to offer pensioners under the age of 70 35-year mortgages, while retired people are being targeted with targeted by buy-to-let adverts with senior appeal.
Managing Director of The Mortgage Works (TMW), Henry Jordan, said they have recognised that buy-to-let is a popular source of retirement income, stating “The recent budget announcements could see even more pensioners considering buy-to-let as an option for their retirement savings.”
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Finance Secured To Build Thousands Of
Affordable Properties For Rental Purposes
Government housing minister Kris Hopkins has welcomed a deal that will release £500 Million (GBP) of additional funding to build new affordable residential properties in the UK.
The new investment finance has been secured through an agreement with the European Investment Bank (EIB), […]
Funding Boost For Government Build-To-Rent Plans
Finance Secured To Build Thousands Of
Affordable Properties For Rental Purposes
Government housing minister Kris Hopkins has welcomed a deal that will release £500 Million (GBP) of additional funding to build new affordable residential properties in the UK.
The new investment finance has been secured through an agreement with the European Investment Bank (EIB), that will help deliver up to 4,300 new and affordable homes to rent in areas of the UK.
The funding is set to form part of the £3.5 Billion (GBP) Affordable Housing Guarantees programme, which enables housing associations to use Government guarantees to secure private investment at more competitive rates than they would otherwise be able to secure.
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Labour leader, Ed Miliband says Labour plan to crackdown on rogue landlords and grant local authorities greater powers.
Politicians are usually reticent to discuss the UK private rental sector (PRS) because political conflicts could easily arise. Landlords are, of course, great taxpayers and contributors to the economy, where tenants are seen to be the ‘ordinary man’: […]
Labour leader, Ed Miliband says Labour plan to crackdown on rogue landlords and grant local authorities greater powers.
Labour Leader Plans Crackdown on Rogue Landlords
Politicians are usually reticent to discuss the UK private rental sector (PRS) because political conflicts could easily arise. Landlords are, of course, great taxpayers and contributors to the economy, where tenants are seen to be the ‘ordinary man’: in reality, both have their place and their way of working.
However, Labour party leader Ed Milliband was keen to make clear his plans to protect tenants from rogue landlords in a speech delivered earlier this week, in favour of longer tenancy agreements.
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There Will Never Be A Better Time To Invest In Property
