Inside Property Website


Too Many Levers

September 26, 2017

If you own four or more properties, brace yourself for the latest tranche of buy to let criteria being introduced by lenders as a result of Bank Of England regulation.  From 30 September 2017, the bank’s Prudential Regulation Authority (PRA) now defines you as a portfolio landlord and lenders must seek additional information from you such as your experience of the buy to let market, full portfolio of properties and outstanding mortgages, your assets, liabilities and tax liabilities, your business plan and cashflow predictions.
These requirements are in addition to minimum Income Coverage Ratio [...]


Stamp Duty & Letting Agent Fees

November 28, 2016

The latest data from the Office For Budget Responsibility (OBR) shows that stamp duty is really harming the housing market in London. Recent hikes brought in by George Osborne are reducing transactions and the result is that treasury receipts will be lower. The OBR predicts that the government will collect £66.6bn instead of £76.2bn in stamp duty over the next 5 years. Since the 2014 Autumn statement, residential sales over £925,000 have incurred stamp duty rates of 10% and over £1.5 million this rises to 12%. Residential deals over £1million are down by [...]


A Landlord’s Guide To The Budget

March 19, 2016

The dust has settled on George Osborne’s budget, well at least most of it, the political fallout of Ian Duncan-Smith’s resignation, I suspect, has only just begun.   The chancellor says his government wants to “tax the things it wants to reduce, not the things it wants to encourage.”  Having increased stamp duty on purchases by landlords and reduced Capital Gains Tax for everybody except landlords, his position on those of us providing 19% of the UK’s housing stock is clear – we are not welcome.  Here’s a summary of all the changes and [...]


To Buy Or Not To Buy

March 16, 2016

Predictably the first quarter of this year is seeing a flurry of sales to landlords and investors before the 3% stamp duty surcharge comes into effect on 1 April.  Buy To let lending was up 22% year on year for the month of January 2016. Unless you’re a cash buyer with an expensive solicitor, you’ve left it too late now to complete before the deadline, realistically offers to buy had to be accepted by the end of January at the latest.  The big question now is what will happen to the market after [...]


Has The Private Rented Sector Peaked?

February 11, 2016

We had a great debate at an NLA meeting in Tower Hamlets in the heart of London’s East End last Thursday, reflecting on the recent tax changes and their broader impact on the Private Rented Sector.  My hypothesis is that the 3% SDLT surcharge which the chancellor is levying on landlords from 1 April 2016 and the restrictions on mortgage interest tax relief from 2017 will deter future investment and prompt some landlords to sell.  Richard Lambert, CEO of the NLA said that NLA research showed that landlords’ confidence in their business [...]