Scotland has seen a dramatic increase in rental prices in recent years, as the shortage of homes has led to tenant bidding wars and price surges. The situation is most extreme in Scotland, but it is starting to become a problem in other parts of the UK as well. The recent legislation changes in Scotland […]
Variable rate mortgages causing buy-to-let profits to plummet
Variable rate mortgages are becoming increasingly popular in the UK. However, as interest rates rise, so do mortgage payments. This increased cost is cutting into profits and, in some cases, causing investors to default on their loans. Some landlords have even seen their mortgage payments increase five times (and by over 20%) just this year! […]
Landlords to be banned from using buy-to-lets for short-term lets
The Government is considering banning second home owners from renting out their properties on short-term letting websites. The plans are being drawn up by ministers who are concerned about the growing number of people who are buying second homes as an investment and then renting them out on sites such as Airbnb. This change would […]
Call for evidence: tourist accommodation registration scheme
The UK government has launched a call for evidence as part of its Tourism Recovery Plan, which seeks to explore the benefits and challenges posed by the rise in short-term and holiday letting in England. The Tourism Recovery plan is designed to help the tourism industry recover from the pandemic and move towards an innovative, […]
Government extends leaseholder protections to buy-to-let investors
The Government announced that it is extending leaseholder protections to buy-to-let investors to protect landlords with small portfolios from building safety costs. Buy-to-let landlords were originally excluded from the cladding relief funds, however, it has now been extended to leaseholders who own up to three properties. Landlords will also receive protection from safety costs on […]
Property disposals and CGT: tips to reduce your liability
Understanding Capital Gains Tax (CGT), specifically, what your liability is, is essential when considering options for selling a buy-to-let property.
300% council tax increase for second homes in Wales
From next year, some owners of second homes in Wales could pay up to four times their current rate of council tax. Currently, councils can charge a council tax premium of up to 100% for second homes. However, the government has announced their plan to increase it to 300% from April 2023. The increase is […]
Tourists asked to check if holiday let is affecting the housing crisis
With summer in full swing, many families are beginning to plan their annual holidays. For many, this means renting a holiday home in one of the UK’s popular tourist destinations. However, tourists heading to the southwest of England are being urged to check prior to travelling if their rental will worsen the area’s affordable housing […]
Housing shortage causing tenant bidding wars
Tenant bidding wars have become increasingly common as the number of homes available to rent has failed to keep pace with demand. This shortage of rental properties has led to landlords receiving multiple applications for every vacancy, and in some cases, tenants are even willing to pay above the asking price in order to secure […]