Could stamp duty reform help boost the housing sector?
17/07/2012
The largest property services group in the UK is the latest to throw its support behind calls for stamp duty reform. Calling the tax outdated, Countrywide suggested abolishing it on homes costing less than £250,000 and changing the slab structure.
What is Disadvantaged Area Relief?If you buy a property worth less than £150,000 in certain parts of the country, you could avoid stamp duty land tax altogether. This is known as Disadvantaged Areas Relief and is designed to help the lower end of the market. |
Bridging loans favoured over hard-to-get mortgage lendingThe bridging loan industry has experienced a recent surge hitting the £1 billion mark for the first time, according to figures from West One Loans. The privately funded bridging lender has undertaken research to track the rapid growth of the alternative loan industry. |
Don’t let your agent abscond with your rental incomeMore than half of all landlords use a lettings agent but most are unaware of how their money is handled. According to the British Property Federation landlords need to be vigilant and check that their money is kept in a client protection scheme. |
A guide to HMRC compliance checks on stamp duty returnsHM Revenue and Customs has the authority to investigate stamp duty returns if it feels they require further explanation. That is why it is important for you to choose a stamp duty mitigation firm that has successfully defended its schemes in the past. |
Boiler gas safety checks for landlordsLandlords can now access cheap boiler and gas safety checks for just £1 per month. The deal comes from British Gas but only offers the cheap checks to landlords if they take out one of the company’s HomeCare packages. |
Fraudulent buy-to-let mortgagesBuy-to-let mortgages are being misused by borrowers and lenders according to a recent report from the Financial Services Authority (FSA). The FSA completed an assessment of significant retail behavior known as the Retail Conduct Risk Outlook (RCRO). |
Influx in bridging loan numbersBridging loans are experiencing a surge in demand thanks to the buy-to-let sector. According to the latest West One Bridging Index 2011 saw gross lending for bridging finance hit £911 million, far exceeding the original £806 million forecast. |
Six lenders now offer 80% buy to let mortgagesMore buy to let LTV mortgages are now available, helping landlords move up the housing ladder and expand their property portfolio. 80% LTV |
End of stamp duty holiday ‘disastrous’ for first time buyersThe end of the Government's stamp duty land tax exemption for first time buyers could have a devastating effect on first time buyers with a strict budget, the National Association of Estate Agents warned today. Thriving buy to let market sparks tax bill fearsRising rental income and record low interest rates could see some landlords hit with a higher tax bill on January 31 than they may have been expecting, according to industry support network The Landlord Syndicate. Year-on-year mortgage lending 'on the up'Improved lending may be a sign of recovering in the property market. New figures show that house purchase lending in November experienced a year-on-year rise for only the second time in 2011, according to the Council of Mortgage Lenders. |
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House prices predicted to grow 3% in 2012Continued overseas interest in London, a thriving buy-to-let market and a low supply of new housing is expected to keep house prices strong in 2012. A new report by Assetz predicts an average national house price growth of 3%. |
Tight lending criteria ‘hampering landlord expansion plans’A harsh lending environment for buy to let mortgages is preventing the private rented sector from meeting the growing demand for quality rented accommodation, according to tenant eviction company Landlord Assist. |
Bank's buy to let lending grows tenfoldBuy to let lending by the Co-op Bank’s dedicated intermediary provider has increased by more than 10 times in the last year. Platform says this type of mortgage now accounts for a majority 80 per cent of all its applications. |
Lender reaffirms plans to grow in buy to let sectorNew mortgages in the buy to let sector have been launched today by the Co-operative Bank’s dedicated intermediary lender. Platform has released the two exclusively tailored tracker products for brokers in a bid to reaffirm its ambitious plans to grow in the investor sector. |
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Most regions see house prices rise in 2011
Nine out of 13 regions across Britain recorded property price increases last year, according to the Nationwide index. The average house price is now around £164,785, up by 1.1 per cent over 12 months and by 0.3 per cent over the past three months. Record low rate to be held again, says Bank of England
The Bank of England has once again voted to keep interest rates at their record low rate of 0.5 per cent, it was announced today. This historic low rate has now been maintained for 23 months. |
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