UK Finance’s mortgage trends update for November 2017, released today, reveals steady increases in mortgage lending for first-time-buyers and home movers compared to the previous month and the equivalent period in 2016. Read the News Release here.
Buy to let has been a hot topic in recent years. Growth was fuelled by dinner party landlords looking for better returns on their cash, and the topic became a news item in its own right.
This rapid growth put buy to let on the radars of both politicians and regulators, and the last couple of years have seen a raft of new measures intended to slow down growth. Some measures have been implemented – stamp duty, personal tax changes - and some are still to come; we are preparing for yet more regulatory changes in October. This has led to some market commentators questioning the market’s future. But is this fair?
Written by a global leader in assurance, tax, transaction and advisory services, this guide provides information about tax changes for Buy to Let landlords in 2016 and key considerations for their business.
According to the latest report from mortgage industy tech supplier, IRESS, the buy to let sector continues to go from strength to strength, seeing a 49% increase in buy to let compared with it's 2015 Survey.
Lending to buy to let investors borrowing via limited companies grew in the first half of the year according to the results of the H1 2016 Limited Company Buy to Let Index. The number of lenders and products available to limited company borrowers also increased.
Buy-to-let landlords should face new limits on the amount they can borrow, the Bank of England has proposed. It suggested that lenders should be much stricter when deciding whether or not to grant landlords a mortgage.
New analysis from national estate agent Jackson-Stops & Staff has found that the proposed reform to stamp duty for second homes, amounting to a 3% surcharge, will fail to have the intended effect of deterring prospective buy-to-let investors due to house price inflation.
Responding to the HM Treasury consultation on the 3% surcharge on Stamp Duty Land Tax (SDLT) proposals for second properties, the Council of Mortgage Lenders urges reform of the implementation plans, to mitigate potentially negative impacts on the housing market as a whole.
Housing demand was propelled in an "unusually buoyant" December 2015 for the property market amid a frenzy of last-minute activity by buy-to-let investors clamouring to beat an imminent hike to stamp duty. That was according to the Royal Institution of Chartered Surveyors (Rics).
The joys of the Autumn Statement… Last year there was good news for buyers of residential property in that from 4 December 2014 the ‘slab system’ of stamp duty (SDLT) taxation was replaced with a ‘progressive’ one. This had been long campaigned for and dealt with the inequities in the tax, and the distortions it caused in the property market. It was however unexpected.