Scotland clamps down on landlord rights

Fri 18 Mar 2016

The Private Housing Bill was passed into law by the Scottish Parliament last night reducing landlords’ rights to repossess, end tenancies and raise rents in some areas. Under the new legislation landlords are no longer able to terminate a tenancy when the agreement reaches its contractual end, repossession grounds have been restricted and the government […]

Paragon accepts consumer buy-to-let

Thu 17 Mar 2016

Paragon Mortgages will now accept consumer buy-to-let applications via its sister brand Mortgage Trust. Ahead of Monday’s deadline its new online application system is live, meaning Mortgage Trust products are available to consumer buy-to-let customers. John Heron, Paragon’s director of mortgages, said: “We are pleased we have been able to launch our consumer buy-to-let application […]

SNP backs blanket Scottish rent controls

Wed 16 Mar 2016

Delegates at the Scottish National Party Spring Conference have voted in favour of introducing national rent controls for all Scottish tenants. Should the SNP win a majority in the upcoming Scottish general election this could mean landlords are unable to raise rents above a cap set by the State, even when their own mortgage costs […]

Buy-to-let returns reach 14-month high

Mon 14 Mar 2016

Landlord returns reached a 14-month high of 12% in the year to January 2016, the latest Buy-to-Let Index from Your Move and Reeds Rains has revealed. Landlords typically made £21,988 over the period. Adrian Gill, director of estate agents Reeds Rains and Your Move, said: “Buy-to-let returns are building and property prices are picking up […]

Brokers expect Budget to address buy-to-let uncertainties

Mon 14 Mar 2016

Mortgage brokers expect George Osborne to flesh out how the 3% stamp duty surcharge will work in the Budget announcement next Wednesday. Currently brokers are uncertain on how the surcharge will affect people buying a new main residence, married couples, consumers based overseas, properties owned in trusts and purchasing homes using bridging loans. There is […]

Buy-to-let surges in February

Tue 1 Mar 2016

Buy-to-let transactions surged in February ahead of the 3% stamp duty surcharge deadline. The number of buy-to-let valuations rose by 34% from February last year, with remortgaging activity jumping by 41%. Activity was also 25% higher than in January 2016. John Bagshaw, corporate services director of Connells Survey & Valuation, said: “Expect this activity to reach […]

Retirees not put off by buy-to-let tax changes

Mon 22 Feb 2016

The number of retirement customers looking to invest the tax free cash lump sum from their pension pots into the buy-to-let has remained constant this year, data from Fidelity International has shown. From 6 April buy-to-let investors will have to pay an additional 3% stamp duty surcharge compared with residential buyers while higher-rate tax relief on mortgage […]