As a residential landlord, it can be hard to keep up with the ever-changing tax laws, so we’ve put together a handy guide to the different taxes landlords may have to pay. Stamp duty (SDLT) On buying a second (or subsequent) property costing more than £40,000, landlords must now pay an additional 3% stamp duty […]
Tax Update for Buy-to-Let landlords Read More »
Housing values in the SW1 area, which takes in Pimlico, Westminster and Belgravia, are the most valuable in the capital, new research reveals. This research from Zoopla looks at the total value of housing in each of the UK’s ten largest cities and the most valuable area for housing within those cities. According to the
Housing values in SW1 area are most valuable in UK Read More »
HMO properties produced the highest average rental yields last year, surpassing all other types of buy-to-let property. According to data from Mortgages for Business, the average yields for landlords with HMOs was 8.9%. The Mortgages for Business Sales Director, Jeni Browne, said: “Savvy landlords like to have a good mix of properties…They like the consistency
Strongest yields generated by HMOs last year Read More »
Assured shorthold tenancy (AST) agreements are the most commonly used form of agreement between landlords and their tenants. Its requirements are stringent: deposits must be placed into government protection schemes, fixed-term contracts can be automatically converted into rolling monthly contracts once the fixed-term has elapsed, and landlords can regain possession of their property by serving
When not to use an assured shorthold tenancy agreement Read More »
The first important piece of advice for landlords is this: make it clear from the outset (the start of a tenancy) if you won’t allow your tenant to sublet a space or unit they rent from you. Why do this? Because subletting is legal in the UK. However, if you, as a landlord, have made
How to deal with a tenant who is illegally subletting Read More »
Westminster City Council will launch a ‘community contribution’ scheme which will enable wealthier residents of the borough to voluntarily pay more in council tax. Following a consultation last year, which met with a largely positive response, Westminster City Council is pushing ahead with its plans to ask residents in the highest-value properties in the borough
Westminster City Council to launch ‘community contribution’ scheme Read More »
From 1st April 2018, landlords of domestic and non-domestic private rented properties cannot offer a property to a new or existing tenant if it has an Energy Performance Certificate (EPC) rating below ‘E’. These new Minimum Energy Efficiency Standards (MEES) will apply to all tenancies by 2020. There are, however some exemptions and exclusions to
MEES – what are the exemptions & exclusions? Read More »
The abolition of stamp duty for first-time buyers is not benefiting those who want to buy their first property in central London, as few properties are priced low enough to make the changes to stamp duty relevant. In the City of Westminster, there are currently only 18 properties on the market which would qualify for
Stamp duty changes almost irrelevant for first-time buyers in Westminster borough Read More »
London received more enquiries from property listings than any other region or city in the UK in 2017, making it the ‘top rental hotspot’ for this year. The strongest tenant demand was recorded in London, and this was followed by Birmingham, Bristol, Leeds and then Manchester. The data, collected by TheHouseShop, looks at tenant enquiries
London named as 2017’s ‘top rental hotspot’ Read More »
Brexit and stamp duty changes took their toll on the prime London property market in 2017, but in the City of Westminster and other central London boroughs property sales increased in the third quarter of last year. A report from LSL Acadata paints a more positive picture of the prime London market, with sales increasing
Property sales in City of Westminster borough see a boost Read More »
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