June 22, 2010

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Landlords navigate rising CGT, VAT and unemployment

Permalink: Landlords navigate rising CGT, VAT and unemployment
by Gill Montia

Private landlords face a mixed bag from today's Budget, with the expected rise in Capital Gains Tax (CGT) set at 28% for those with total income and taxable gains above the higher rate threshold, effective from 23rd June 2010. Basic rate ...

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Tougher times for tenants as buy-to-let investors withdraw

Permalink: Tougher times for tenants as buy-to-let investors withdraw
by Gill Montia

Rightmove is forecasting tougher times ahead for tenants as the average number of homes for sale on estate agents' books rises to its highest level since October 2008. The abolition of Home Information Packs in May prompted a surge in ...

June 21, 2010

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Budget challenges for buy-to-let investors

Permalink: Budget challenges for buy-to-let investors
by Gill Montia

Landlords are forewarned of painful times ahead, following tomorrow's emergency Budget. According to jml-insurance.co.uk, the prospect of higher capital gains tax (CGT) on second homes and rental properties is one concern, while a rise in VAT could increase costs across a number of ...

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Assetz: House prices up 7.8% on year

Permalink: Assetz: House prices up 7.8% on year
by Kay Mitchell

The latest figures from Assetz House Price Watch has revealed that house prices were 7.8% higher in May on an annual basis, down from the 9.1% reported in April. Assetz, which compiles monthly average figures supplied by the five major house ...

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Asking prices surge in June, say Rightmove

Permalink: Asking prices surge in June, say Rightmove
by Kay Mitchell

Property website, Rightmove, has today reported the annual growth in asking prices for residential property in England and Wales for June surged by 5%, but the group issued caution about the fortunes of the housing market. On a monthly basis, asking ...

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HMRC closes in on buy-to-let CGT evaders

Permalink: HMRC closes in on buy-to-let CGT evaders
by Gill Montia

Buy-to-let landlords are being urged to ensure they including any cash raised from property sales in their tax returns. According to a BBC report, accountants UHY Hacker Young is aware that HM Revenue & Customs (HMRC) is increasingly trawling through Land ...

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Councils to receive new powers on HMOs

Permalink: Councils to receive new powers on HMOs
by Gill Montia

Housing Minister, Grant Shapps, has announced that local councils in England and Wales will have greater flexibility to manage areas with a high concentration of Houses in Multiple Occupation (HMOs) "without tying landlords in red tape". Clusters of shared houses can ...

June 19, 2010

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Private renters to outnumber social housing tenants

Permalink: Private renters to outnumber social housing tenants
by Gill Montia

New research from the Building and Social Housing Foundation (BSHF) reveals that for the first time in a century, the relative size of the owner-occupied sector has declined, while the private-rented sector has increased significantly. According to the study, the private-rented ...

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Typical UK rent up 0.5% in May

Permalink: Typical UK rent up 0.5% in May
by Gill Montia

The average rent in the UK rose by 0.5% to £667 per month in May, according to the latest Buy-to-Let Index from LSL Property Services. Rents have now risen for four successive months and are typically 2.7%, or £18 per ...

June 18, 2010

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CML expects mortgage lending to remain subdued

Permalink: CML expects mortgage lending to remain subdued
by Kay Mitchell

The Council of Mortgage Lenders (CML) has today revealed a 7% rise in mortgage lending for the month of May compared with the previous month, totalling £11.3 billion. The figure is up from the £10.5 billion in April and 10% higher ...

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Advice to tenants as hopes of landlord register dashed

Permalink: Advice to tenants as hopes of landlord register dashed
by Gill Montia

The Deposit Protection Service (DPS) has issued advice to tenants following the Government's announcement that plans for a national register of landlords have been ditched. Housing Minister, Grant Shapps, recently dismissed measures proposed by the previous government in response ...

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HomeLet launches new offering for letting agents

Permalink: HomeLet launches new offering for letting agents
by Gill Montia

HomeLet is promising letting agents a means of differentiating themselves from the competition, with its PremierPlus offering. The tenant referencing and insurance firm has responded to the rise in new entrants to the letting agent market by launching a package ...

June 17, 2010

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Scotland’s property market eyes recovery

Permalink: Scotland’s property market eyes recovery
by Kay Mitchell

Scotland’s largest property site, s1homes.com, has said it has been encouraged by the recent new instructions that have been added to its site. According to the website, last month there were more than double the number of properties for sale than in the ...

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First-time buyers still locked out of mortgage market

Permalink: First-time buyers still locked out of mortgage market
by Gill Montia

Latest figures from the Council of Mortgage Lenders (CML) should prove reassuring to landlords, who are likely to be retaining tenants with home-ownership ambitions for some time to come. According to the CML, first-time buyers accounted for only 35% of ...

June 16, 2010

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CML: First-time buyer numbers dwindle

Permalink: CML: First-time buyer numbers dwindle
by Kay Mitchell

Figures from the Council of Mortgage Lenders (CML) have revealed first-time buyer numbers are falling, despite changes to stamp duty and house price falls. According to the Council, the 14,300 loans advanced to new entrants in April accounted for just over one third ...

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OFT publishes review of high-cost credit

Permalink: OFT publishes review of high-cost credit
by Gill Montia

The OFT has today published the final report of its review of the £7.5 billion high-cost credit sector. The sector comprises the pawnbroking, payday loan, home credit and rent-to-buy credit markets. Products supplied in these markets are typically used by people ...

June 15, 2010

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Interest in international property remains high

Permalink: Interest in international property remains high
by Gill Montia

Searches for international property increased by 109% between May 2009 and May 2010, according to Primelocation.com. Month-on-month searches were up 3%, with eight of the top-ten countries registering an increase in interest and Spain regaining the top spot from France. The two ...

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DCLG: House prices rise 0.4% in April

Permalink: DCLG: House prices rise 0.4% in April
by Kay Mitchell

Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices crept up by 0.4% in April compared with March, with the average UK home costing £207,516. On an annual basis, house prices exceeded double-digits, ...

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Rics report rise in homes for sale

Permalink: Rics report rise in homes for sale
by Kay Mitchell

The Royal Institution of Chartered Surveyors (Rics) has today reported a sharp rise in the number of homes being up for sale in England and Wales. The rise has been attributed to the scrapping of Home Information Packs (Hips). The coalition Government ...

June 14, 2010

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Number of properties for sale surges

Permalink: Number of properties for sale surges
by Kay Mitchell

According to a report from FindaProperty.com, the number of properties for sale in the UK has soared to levels not seen since January 2008. According to the group, the recovery in house prices, the scrapping of Home Information Packs (Hips) and ...