Landlords are calling upon the Welsh government to amend or scrap the second property stamp duty tax payable by landlords when they purchase an investment property to let out. They say the punitive tax is stalling recovery of the Welsh buy to let market, as landlords think twice about investing in private rental homes.
After a very mild winter so far, the temperatures have finally plummeted and the nation is now in the grip of an icy glove. Many parts of the UK have been blanketed in snow, with some areas hit by several inches.
The Bank of India is planning to expand into the UK buy to let market by targeting landlords who hold their portfolios in limited companies. The bank says they can help out landlords by assessing each application on an individual basis, unlike other mortgage lenders who adopt a cookie cutter approach.
A recent survey of more than 2,500 landlords has revealed that 61% of landlords are now aged 55 and above, compared to 12 years ago when only 24% of landlords were in the 55 and over bracket.
The future is not looking very bright for landlords. Recent government tax changes have caused a great deal of upset in the buy to let community, with many landlords feeling as if they are being penalised.
A leading landlord insurer is warning landlords to beware of tenants sub-letting their properties over the holidays. Since most shorthold tenancy agreements specifically exclude sub-letting without the landlord’s written consent, landlords could end up in breach of their mortgage terms and conditions, as well as uninsured if there is any damage to the property.
With the January self-assessment tax deadline fast approaching, HMRC is providing online tutorials for landlords who need to brush up on their tax knowledge. The tutorials are designed to help landlords work out how much tax they owe on any properties they own.
Managing a property rental portfolio is tough enough in the present climate without having a host of administrative issues keeping you awake at night. A property management software package can help make your life easier, by streamlining the administrative burden of running your portfolio, and by ensuring you don’t forget to do anything important – […]
A recent report from buy to let lender, Kent Reliant, has revealed that many landlords are restructuring their property portfolios in a bid to beat government tax changes. Some landlords have converted their businesses into limited companies, whereas others are raising rents or transferring ownership of properties to relatives.
The Rent Smart Wales scheme is now law, but although 89k accounts were created and 64k licence registrations submitted by landlords, a further 13k licence applications were never completed, which suggests quite a few landlords are operating without the necessary licence.
A landlord who illegally converted a three-bedroom house into two self-contained flats has been ordered by the courts to pay back the £140k in rent she earned from letting the flats. If she fails to repay the money within three months, she will be sent to jail for up to a year.
The Autumn Statement revealed that the government is planning on banning letting agents from charging fees to tenants. If you use a letting agent to manage your rental properties, you might be concerned about this development.
The RLA recently won a very important court battle over whether a landlord has to pay council tax if the tenant moves out but the tenancy has not formally ended.
Taking out a mortgage is a common way to build a property portfolio, but landlords are coming under increasing pressure from the Bank of England, which is making buy to let mortgages more difficult to come by.
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