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Category Archives: News

BIG RISE IN NUMBER OF FIXED-RATE BUY TO LET MORTGAGES FOR LIMITED COMPANIES

There’s been a significant rise in the number of fixed-rate buy to let mortgages available to limited companies, says independent mortgage market monitor Moneyfacts.
Last year saw the start of the phasing-out of tax relief for individual BTL landlords, pushing many into becoming limited companies – and thus not losing the relief.
However, Moneyfacts says many providers have stepped into the breach and are now offering more fixed products to limited companies than ever before.
In April 2013, there were just 17 fixed limited company mortgages; by April 2016 there were 80 and by April last year this had risen to 212. Now there are 235.
‘The number of fixed rates available to limited companies has almost tripled in the space of just two years. The reality of last year’s tax changes hit landlords hard, as they were unable to claim tax relief. However, with things working slightly differently for limited companies, many landlords have started to shift their focus from individual ownership to this type of private company,’ says Charlotte Nelson, Moneyfact’s finance expert.
But she warns: ‘Borrowers considering this type of mortgage should be aware that they could find themselves on a more expensive deal compared to the rest of the BTL market.
‘For example, the average two-year fixed rate BTL mortgage, for those applying as a limited company, stands at 4.29 per cent today whereas the average two-year fixed rate for the rest of the market is significantly less at 3.01 per cent.’
She says landlords still considering a switch to limited company status should consult a financial adviser before committing.

Provided by Nicola at West Property

MINIMUM EPC RATINGS? NOT IN SCOTLAND…YET

There is currently a lot of press coverage about landlords having to ensure their property meet a minimum EPC rating from April 1, 2018, but please note that this legislation doesn’t apply to Scotland. Scotland is a bit further behind England and Wales in this respect. The Scottish Government consulted on plans to introduce a… Continue Reading

FALL IN HOME-OWNERSHIP FOR YOUNG ADULTS

A decline in the home-ownership rate of young adults in Great Britain is an issue that has risen to the top of the political agenda. Chances of owning home in UK have more than halved in 20 years, Institute for Fiscal Studies says. Today’s young adults are significantly less likely to own a home at… Continue Reading

TENANCY DEPOSITS – A FEW FREQUENTLY ASKED QUESTIONS

Since 2012, landlords in Scotland have been required to ensure they lodge any tenancy deposit with one of three approved tenancy deposit schemes within 30 days of the start date of the tenancy. Additionally, the landlord must provide the tenant with specific information relating to the tenancy and the deposit. Failing to do any of… Continue Reading

A NUMBER OF RULES AND REGULATIONS GOVERN LANDLORDS LEASING OUT PROPERTIES AS HMOS.

An HMO is a ‘house in multiple occupation’, in which there are multiple residences found under one roof. Tenants in these individual residences share common areas, such as stairwells, landings, kitchens, toilets, bathrooms or communal living space. In accordance with the Housing Act 2004, a property is deemed an HMO if there are three or… Continue Reading

THINKING OF BUYING YOUR FIRST HOME?

In the New Year many of us make resolutions or set goals for the coming year. Could 2018 be the year you finally buy your own place? There are so many questions to ask when buying your first home. How much deposit do I need? Can I afford the payments? Let’s look at some of… Continue Reading

BE READY FOR 2018!

Well 2017 is drawing to a close and I hope you have all had a relaxing and enjoyable Christmas with friends and loved ones. This is also a time when many of us look ahead to the New Year.What will 2018 bring? A big move, buy your first home or purchase that holiday home you’ve… Continue Reading

TOP FIVE MOST COMMON WINTER HOME PROBLEMS

Landlords can often find that winter is the busiest period of the year, largely because tenants may experience the most problems. Many of the problems that will arise at this time of the year will be quick fixes, or even things you can deal with in advance, but as a landlord, it’s important to know… Continue Reading

TAX ISSUES FORCE HALF OF LANDLORDS INTO RETHINK

Almost half of landlords in the UK – 47 per cent – have changed their investment plans based on tax changes, according to new research. Landlords consider changes to tax relief as the biggest influence on their investment strategy, with 25 per cent ranking it as their primary concern, above changes to capital gains tax… Continue Reading

NEW ENERGY EFFICIENCY STANDARDS TO BE ANNOUNCED IN 2018

The Scottish Government has published its analysis of a consultation it held this year on introducing a minimum energy efficiency standard and amending the repairing standard for private rented sector housing. There were 198 responses and the government has now made an announcement on how it plans to proceed with the proposals. It said: ‘The… Continue Reading