Should You Let Your Tenants Keep Pets? 5 Pros and Cons

Letting tenants keep pets has become a sticking point for landlords concerned about upsetting the neighbours and protecting their property from avoidable wear and tear. But with an estimated 78% of pet owners reportedly having difficulty finding properties which allow their fluffy friends, permitting pets brings a raft of benefits too. This includes happier tenants, longer leases, and more revenue due to fewer renting gaps and the ability to charge higher rent. So with 46% of UK renters owning a pet, can you afford to exclude almost half the market? Here’s a list of pros and cons to consider before More ›

London Property Market Insight: October 2016

London Property Market Insight: October 2016 So we are three months in to Brexit; how has it effected the London property market? And what are the short term predictions for the future? July and August proved to be difficult months when it came to property sales as was to be expected with the shock of Brexit coming to fruition. Demand and prices cooled almost immediately post-leave vote, notably at the top of London’s market where it has also had to compete against a series of tax heights, notably stamp duty rises for additional homes. Timings of the vote were also More ›

The Treasury on Brexit

The Treasury on Brexit: The Effect on Property The Treasury have now added more fuel to the Brexit debate by releasing a 90-page document outlining the cost of leaving the EU and the impact it will have on Britain if, come the 23rd June, Britain vote to leave the EU. With Brexit being the most topical debate in the country, it’s no surprise given the date of the vote is looming. Other leading figures in Britain haven’t been shy in sharing their opinion on the matter. Experts in favour of staying in the EU have said it could lead to More ›

Market Insight: First Quarter

Group head of lettings, Simon Jackson, looks back at the lettings market over the first quarter of 2016. “We’ve seen a 6% rent gain in East London alone” he says which is significant given the rents in Greater London were up 7.7%, exactly the same rate of increase for the third successive month. “The average price of a rental property now stands at £1,700 per calendar month which equates to just over £20,000 per annum.” “Giving that the current average salary in London stands at around £35,000, it’s no surprise that people are looking to co-rent or house-share when it More ›

Supply and Demand Crisis: What is Being Done?

Supply and Demand Crisis: What is Being Done? According to the latest indices, the average house price in England and Wales hit a record high of £300,000 in March. This is great news for existing homeowners but bad news for those struggling to clamber onto the first rung of the property ladder. To make matters worse, while prices have increased by 50% in the last ten years, our salaries are struggling to keep up. Wage growth was just 22% over the same ten-year period. Record property prices and a growing population are conspiring to see housing demand outstrip supply rather More ›

Mortgage Rates: Are the Glory Days of Borrowing Coming to an End?

Mortgage Rates: Are the Glory Days of Borrowing Coming to an End? The Bank of England base rate has remained at 0.5%, its lowest level ever, for over six years now, and mortgage rates as low as 1% or 2% have become commonplace. But as we merrily bask in what the future may deem the glory days of borrowing, have we got a little bit too comfortable with these unsustainably low rates? Media speculation about mortgage rates is rife at the moment, with many experts predicting that rates will increase in 2016. Should such predictions serve as an alarm bell, More ›

Rural England Halts the Developers – For Now

Rural England Halts the Developers – For Now Since the 1940s the English countryside has been protected by stringent planning laws that restrict development in the most beautiful parts of our green and pleasant land. But with demand for housing increasing, the cities and towns of our tiny island are busting at the seams. Are we about to see the urban tower blocks and residential developments of our cities spill out into the once-sacred open space of rural England? New planning policy Ardent rural community groups, many with a reputation for steadfastly opposing any outside development threatening village life (‘Farrington More ›

Capital Gains Tax for Non-UK Residents

Capital Gains Tax for Non-UK Residents: Your Questions Answered Until the Finance Act came into effect earlier this year, non-UK residents could dispose of their UK property free from capital gains tax. Now, however, the Act has made good on government proposals (first announced back in 2013) to introduce just such a tax on non-residents selling their residential assets here. The new rules apply to any disposals made after 5 April 2015. Here we answer the six most frequently asked questions about the new capital gains tax (CGT) for non-UK residents. Who is liable to pay the non-UK resident CGT? More ›

First Time Buyers: Help to Buy ISA

First Time Buyers: Help to Buy ISA Since the financial crisis saw the back of 100%–125% mortgages, first-time buyers have faced two major hurdles. This first is low interest rates on savings, and the second is the increasingly large deposits required by banks. George Osborne’s 2015 budget revealed the Conservatives’ plans to tackle these issues head-on by encouraging first-time buyers with a new Help to Buy ISA. Under the scheme, which will be available later this year, first-time buyers can claim up to £3,000 from the government towards the deposit for their first home if they save into the new More ›

Non-Residents and UK Capital Gains Tax

Non-Residents and UK Capital Gains Tax If you’re not resident in the UK and sell (or dispose of) a UK residential property you must tell HM Revenue and Customs (HMRC) and you may have to pay Capital Gains Tax on any gains you make on disposals made after 5 April 2015. A disposal is when the contract to sell the property is agreed (often called ‘exchange’). Changes since 6 April 2015 Since the 6 April 2015, capital gains tax has been payable by certain non-resident individual, trustees and non-resident companies on sales of UK residential property. What is taxable? Capital More ›