Richard Blanco

I spoke to many landlords at the recent Property Investor Show at Excel in London.  Here are what I think are the top ten challenges facing London landlords:
1.  Landlord Sentiment
NLA research has found that landlord confidence has fallen to a level lower than it was during the 2007/8 crash.  19% of landlords say they will sell a property in the next 12 months.  This is because of the tax changes brought in by the Chancellor in his last 3 budget statements. Mortgage Interest relief is […]

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 […]

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 […]

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 […]

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 […]