Sell My House Today
Recent Tax Changes Hit Buy-to-Let Sector Hard
Recent Tax Changes Hit Buy-to-Let Sector Hard
A recent article in the Daily Mail reports that over the past two years, investments in the buy-to-let sector have plummeted by 80%.
Figures released by the Intermediary Mortgage Lenders Association (IMLA) demonstrate that buy-to-let investments dropped substantially from £25billion in 2015 to £5billion last year and have surpassed the decrease in investment level seen directly after the credit crisis in 2008.
Government tax reforms for landlords such as the scrapping of the “wear and tear allowance” and the phased retraction of tax relief on mortgage interest for people paying higher levels of income tax have had a dramatic effect on the profits for landlords. In addition, the stamp duty surcharge of 3% payable on second (or more) properties has led to many landlords in Kent selling their buy-to-let properties or reducing their portfolios.
Mortgage Lenders Require Higher Rent Returns
As well as tax changes, mortgage lenders are becoming more cautious when it comes to buy-to-let lenders as many landlords have arrears on their buy-to-let mortgages. It’s been reported that there were around 5000 buy-to-let mortgages with arrears of 2.5% or more of the mortgage balance in the last quarter of 2017, an increase of 2% in the final quarter of 2016. There were also around 1,200 with arrears of 10% or more – an increase of 20% year on year.
Landlords now need to be able to cover 145% of mortgage payments through rental income, which given the high value of property price in Medway towns can often be problematic, particularly for those starting out on their buy-to-let journey or those wishing to expand their portfolio in Kent due to high house prices.
Still a Large Demand for Private Rental Accommodation
With so many landlords now reconsidering their investments, there is concerned that tenants may face future problems as many privately owned rental property disappear. This will leave many people with a severe lack of choice when it comes to rental properties and likely to face higher rents. However, with an estimated 4.5 million people in the UK relying on private rental accommodation, it is clear there is still a necessity for private landlords.
Others are choosing to remain in the buy-to-let sector but switching their properties in their portfolio from areas in the South East such as Kent and Medway towns, to more profitable areas in the north of the country, where landlords can easily buy property for cash which will give high yield returns on investment and easily attract tenants.
Property Buying Companies Can Be Held Landlords to Maximise Their Investments
Companies that buy houses fast can help those who wish to switch their investments to improve their portfolios and their profit margins. With many homeowners in northern areas in situations where they need a fast house sale, opportunities are there for those who are willing to look outside of the Kent area.
Buyingpropertyfast.com specializes in helping people sell their house for cash. Property buying companies allow people to navigate a quick house sale in areas where property may traditionally be slow moving.
sell my house today | Property buying companies | Approved property buyers | Sell my house for cash
Buying property fast speedy and is one of the first-rate organizations to sell residence rapid and first-rate property shopping for groups. It is not unusual property clients to sell my house today and sell my house speedy in London.
Companies that buy houses fast | sell my house today | Property buying companies | Approved property buyers
Buyingpropertyfast.Com is out standing assets customers and sell my house these days which give offerings for consumers and dealers to sell their residence and assets easy and speedy.Individuals who are searching want a quick house sale touch at purchasing for belongings speedy. In case you want to ensure you’re coping with crucial clients to shop for belongings or sell belongings we let you make this approach easy and easy and clean due to we have a tendency to vow to take you extensively. We don’t make ludicrously low gives searching for belonging slower once more out on the final minute, pressure you, or allow us to dealers down in any method. Our many others aren’t surely pretty attractive they’re truly sincere and actual, too.
Sell my house for cash | Sell My House Today | Sell My House Fast
Buyingpropertyfast.Com one of the main corporations which should buy homes rapidly and promote my house speedy in UK. We're company corporation of clean to promote and buy your house in London. There are hundreds of internet site provide this offerings study to other we offer speedy and price powerful offerings for clients and dealers to sell their property without has less. We've giant fashion of options so you can choose out your dream residence and assets without problems at in London. To make certain we offer you the very maximum fee, even though, we need to appearance your own home.If you are looking sell house nowadays touch us at info@buyingpropertyfast.Com,03303800018