Homeowners and landlords in the UK are facing increased mortgage rates for the first time in a long while, as the Bank of England upped its base rate to curb inflation. Interest rates are expected to keep rising, which will increase monthly mortgage payment brackets and could significantly affect the housing economy. But why exactly […]
Category Archives: Landlords
30
Nov
Nov
When the word ‘landlord’ is mentioned, one might imagine a wealthy individual with large property portfolios across the UK. However, of the 2.6 million landlords in the UK, only 18% rent out five or more properties, 39% rent out between two and four, while the majority – 43% – rent out just one. Quite […]
15
Jun
Jun
In 2016, the then Chancellor, George Osborne, introduced a stamp duty surcharge of 3% on purchasing buy-to-lets and second homes. That means the 3% slab tax is based on the whole property price and payable on top of the standard stamp duty applicable. Secondly, in 2017, the government began withdrawing the total tax relief […]
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