One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January.
Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, with two-thirds having knowledge of the changes to mortgage tax relief and the impending tenant fee ban.
Less well known are the reduction in Capital Gains Tax for non-property investments, and knowledge of the minimum rent to mortgage cost ratio required by lenders to approve a buy-to-let mortgage.
The survey notes that legislative changes are considered the main concern for current landlords, while agents are more concerned about tenant behaviour.
Just 6,950 homes were repossessed during 2018, the equivalent of just 0.06% of all homes with an outstanding mortgage. Repossessions are at their lowest level since 1981, with nearly 700 fewer properties repossessed than in 2017. To put this figure in perspective, there were nearly 50,000 repossessions at the height of the financial crisis in […]
Just below 1.2 million residential properties changed hands throughout 2018 according to data from HM Revenues and Customs. Despite talks of a slowdown in the market, this is in fact just 30,520 fewer than during 2017. The end of 2018 provided some seasonal cheer. 204,800 sales are estimated to have taken place in November and […]
Nearly one quarter of new tenancies agreed in the last year were for rentals where tenants included children in the household. Of these, half were for families that included one child, while 37% of tenancies involving children were for families with two children. These figures remain remarkably consistent across all regions of England and Wales. […]