Dealing with the shortfall
Posted by: Titlesolv
According to new research published by Savills this month, a record level of new homes will be built in London this year, with total net completions expected to reach 46,500.
Price Drop
Posted by: Titlesolv
In addition to post-Brexit instability, inflated asking prices are causing the residential housing market to stall, with homeowners wrestling with the accompanying uncertainty.
Interesting times for landlords
Posted by: Titlesolv
Landlords in the buy-to-let market have faced a double-whammy. Not only did the former Chancellor of the Exchequer introduce a new stamp duty land tax surcharge on buy-to-let properties in April, but as of 2017, tax relief on mortgage interest will be phased out to be replaced with a capped tax credit. If that wasn't enough, in response to new affordability checks currently under consultation by the Bank of England, some of the UK's biggest lenders including The Mortgage Works (TWM) and Barclays raised a key affordability threshold in the spring.
Stamp Duty Land Tax (SDLT) clarity comes at a cost
Posted by: Titlesolv
The three per cent rise in stamp duty land tax (SDLT) on second homes and Buy to Let properties introduced in George Osborne?s budget have been in effect since the beginning of April. The rise in SDLT was met with dismay among market commentators at the time of the announcement due to its likely impact on the private rented sector (PRS) ? with no exemption being provided to large-scale investors.
Further blows for Buy to Let
Posted by: Titlesolv
George Osborne's budget brought mixed news for the property industry. The predicted 3 per cent uplift in stamp duty land tax (SDLT) on second homes and buy-to-let properties will not have come as a surprise to many.
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