Will UK House Prices Fall In 2016?

January 28, 2016

I’ve been planning for 2016 and trying to forecast what will happen to interest rates and house prices.  2015 was an extraordinary year for the private rented sector.  According to NLA research landlord confidence in the future of their business has fallen to the same low point it hit in the credit crunch. George Osborne’s surprise colonisation of government housing policy resulted in the reduction of mortgage interest relief, abolition of the 10% wear and tear allowance on furnished properties and increased taxes on dividends.  The cherry on the cake in the Autumn [...]

Ten Reasons Not To Buy Leasehold

January 24, 2016

Imagine a perfect world where all properties were freehold.  Unfortunately in England, this scenario doesn’t exist.  The main advantage of buying freehold is that you have total control – but with that comes all of the maintenance bills of course.  I fully appreciate that sometimes we have to buy a leasehold property because the budget we have for a particular location will not stretch to a self contained building on its own plot.   Beware of the pitfalls though – here are ten to consider:
1. You have to pay a service charge which can [...]

Osborne Turns Anti-Landlord

November 30, 2015

George Osborne has unveiled another punishing tax increase for landlords in his Autumn spending review.  Purchases of second homes or properties to let will be subject to a stamp duty surcharge of 3%.  A £275,000 property which currently attracts stamp duty of £3,750 will now cost £12,000 in tax, according to the National Landlords Association.  Inevitably this measure will hit London landlords particularly hard where the average house price is £459,906 and 3% of that is an extra £13,797.  This increase is grossly unfair, landlords already pay capital gains tax (CGT) [...]

Jeremy Corbyn & Your Property Business

October 10, 2015

Many in the landlord community viewed Ed Milliband’s proposals for the private rented sector with derision and after a short post election honeymoon period we have been digesting surprise tax changes from George Osborne’s Summer budget.  Next the election of Jeremy Corbyn as Labour Party leader, described by party heavyweight Lord Faulkner as “a political earthquake.”  In the run up to the May 2015 election National Landlords Association colleagues and I jousted through a string of media interviews rebutting proposals for increased regulation.  I remember on more than one occasion Corbyn would make [...]

Mayor Sadiq Khan’s Plans For London Housing – If He Wins

September 18, 2015

A YouGov poll in August 2015 found that 42% of the public thought Tessa Jowell would be the best Labour Candidate for Mayor, Sadiq Khan was in second place with 21%.  But the mayoral candidates are elected by their respective parties.  London Labour party members had to vote for party leader and London Mayor on the same ballot paper, so Tessa Jowell’s candidacy was killed off by the same lurch to the left that saw Corbyn’s landslide victory as leader.  Sadiq Khan won in the fifth round with 59% compared to Tessa Jowell’s [...]