The thought of becoming a landlord can be overwhelming for some. Bringing many considerations and even more responsibilities. That said, it’s also a very exciting prospect – a monthly passive income, a diverse investment portfolio and more financial freedom.
The Conservative government’s scheme to encourage 95% mortgages for first time buyers and those wishing to move became active on the 19th of April. This will see the government guaranteeing loans on up to 95% of the value of properties worth up to £600,000. The aim is to provide lenders the security needed to offer such […]
Local and mayoral elections do not tend to capture the same degree of interest as their national counterparts. However, Sadiq Khan’s re-election as London Mayor should be of keen interest to any landlord operating properties in the capital. Khan’s flagship housing policies include seeking to introduce an ‘overhaul of legal protections for renters and for London to have the powers […]
The process of purchasing a buy-to-let property is full of common pitfalls which can trip up the uninitiated and experienced investor alike. Thankfully, a healthy mix of knowledge and research can help to support the process and avoid mistakes. With this in mind, it is important to develop a process which can be used to check and […]
This post outlines a number of additional reliefs that are available, which can help to reduce the CGT liability further in certain scenarios. Please Note: From April 2015 the rules applying when a non UK resident sells a UK residential property, and the rules for UK capital gains tax when he does so, have changed.
In my experience, most landlords who get things wrong do so because they didn’t know that they were doing the wrong thing. Arguably, a person shouldn’t go into a business as important as providing homes without understanding the legislation and regulation involved, but many of us got into the business in the days when it […]
The UK government have announced their intention to extend Covid-19 relief for tenants. The Housing Minister, Christopher Pincher, revealed that people renting in England will continue to be supported with longer notice periods until at least October 2021. The current ‘emergency rules’ were set to expire on the 31st of May.
You can use Landlord Vision to track what is going on in your bank account, not only that, but you can make sure that you have already accounted for everything when you come to do your reports. The best way of doing this is to get the software to match your actual account balance. In […]
Conveyancing is the process of preparing and compiling legal documents for a property transaction. It is a necessary requirement for purchasing, selling and remortgaging a property. If a lender is involved in the process, which they often are, they will stipulate that a professional conveyancer or solicitor is used as part of their mortgage offer.
Tax Tips Q&A is a brand new monthly blog series. In this series, we will be sharing property questions and answers from ‘247 Property Tax Questions Answered’. In this guide Arthur Weller answers tax questions on Capital Gains Tax, Buy-to-let Tax, Inheritance Tax, Gifting Tax and so much more. This week’s Q&A tax tips are […]
It is believed that the property market, both globally and in the UK, is driven by the Property Cycle. That is, the property market conforms to a repetitive and historical sequence of events which can be categorised. The Property Cycle is not unique, it ties in with the business cycle, credit cycle and a general […]
The coronavirus pandemic has led to an unprecedented demand for holiday lets. As Europe and the rest of the world continue to battle against rising cases, many would-be holiday goers are looking closer to home for their annual get away. At the top of the list for UK staycations sit coastal towns and villages.
Anyone wishing to run a business in the UK has a wide choice of ways to organise it. Each possible structure has its own advantages and disadvantages. This post gives an overview of the three basic types of business structure that are commonly used.
On Wednesday the 28th of April, the House of Lords finally passed the unamended version of the Fire Safety Bill. The Lords voted down amendments aiming to prevent building owners from passing repair costs onto leaseholders and tenants. Once the Bill receives Royal Assent, it will be passed into Law in England and Wales.
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