Searching for a rental home can be fun and exciting. But, there’s also quite a lot to consider and get right to ensure you enjoy living in your new rental home.
London has long been considered as good investment for property investors, but prices in the capital aren’t as tempting compared to Bristol, and Manchester is turning a great deal of investor attention north. There have always been good and bad areas in any town and as more investors turn their eyes farther afield for properties, they face the challenge of not knowing the towns well enough to make shrewd investment choices.
In the recent ‘mini-budget’ announced by the chancellor, the stamp duty holiday will have made many property investors prick up their ears. While the situation isn’t quite as rosy for landlords and those buying additional properties, the new rules could still mean a substantial saving on residential property purchases, and might be a good opportunity for landlords to think about expanding their portfolios.
“Osborne drops tax bombshell that will wipe out bulk of buy-to-let profits”, The Guardian, 11th July 2015
The Guardian, like the Financial Times and many other media outlets baulked at George Osborne’s somewhat hidden tax relief changes as announced in the emergency Summer Budget last July. The talk has been of a ‘rental Armageddon’ and the decline of rental properties in the UK.
The UK’s housing market is broken. That’s not news and is something that has been discussed, disseminated and dissected for the past few years, particularly by the Government. However, it appears that there is one way in particular to help ‘fix’ the market and that’s custom building.
Any landlord or property investor who has watched and listened closely to the budgets over the last few years and keeps up to date with the 400+ rules and regulations, will feel that the good work done in looking after tenants properly isn’t being appreciated by the government much, if at all.
As of April 2018, there are new rules in force meaning that your rental property needs to reach minimum energy efficiency standards if you want to let it out to new tenants. Unfortunately, these rules haven’t been well publicised, and some slightly impractical arrangements around funding and exemptions have led to a fair amount of confusion.
The show home can paint the very best picture of what ‘new build’ homes can look like. However, they are, by their very term, ‘show’ homes.They are designed to appeal, created by property presentational experts, to help elicit a strong sense of desire.
When it comes to encouraging property owners to pay their fair share of tax, a hike in stamp duty is often put forward as an option for doing this. And, research shows that after the changes to stamp duty rules in April 2017, that’s exactly what happened. The Government’s income from stamp duty payments rose £1.3 billion from 2016 – an increase that was largely due to the 3% additional stamp duty tax charge on BTL investors and buyers of second homes.
Planning permission is a crucial factor in any building development or regeneration project. The built environment is managed by local authorities who are charged by the Government to maintain permitted developments in their region.
Aberdeen regularly tops best places to live charts thanks to its flourishing oil industry. It has a high number of millionaire homeowners, great employment, a low crime rate, and is located amidst the stunning and majestic Scottish countryside.
According to a report from the Royal Institution of Chartered Surveyors (RICS), the UK is facing a major shortage of rental homes; 1.8 million by 2025 to be exact.
The MIPIM World Conference – a major event on the property development calendar – was held in Paris in mid-March. It was a busy occasion, as it always is, offering global property development professionals the opportunity to promote and connect. But, one thing that was different at the 2017 World MIPIM conference, was the sight of a UK Government pavilion there, for the very first time.
The UK Government used its Tory Party Conference back in October to unveil its plan to build 1 million new homes by 2020. The plans were welcomed across the board, as was the investment made available to go with them. Now, however, UK housing minister Gavin Barwell has admitted the Government probably won’t hit its target.
Earlier this month the Labour party launched a housing review to find ways in which to sustainably increase home-ownership. The review is led by Taylor Wimpey CEO Pete Redfern and supported by a panel of housing experts including Kate Barker who led the previous housing review in 2003.
With the cost of buying a property ever-increasing, the government have set about a new way of helping first time buyers onto the property ladder.
Build to Rent is a government initiative designed to improve private sector renting by providing more straightforward, transparent, and longer-term rental agreements for tenants.
Having already been hailed by some as a solution to the housing crisis in the UK, several developments have been built in London, including Wembley Park, and East Village which has undergone conversion from the 2012 Olympic athletes’ accommodation.
February’s cabinet shake-up was the first major reshuffle since the Conservatives’ general Election victory in December and the UK’s exit from the EU at the end of January. There were rumours that plenty of heads would roll, and indeed Boris Johnson did not disappoint. Among the high-profile sackings were Andrea Leadsom and Julian Smith – secretaries of state for business and Northern Ireland respectively – while Sajid Javid was forced out of his post as chancellor after a well-publicised rift with strategic adviser Dominic Cummings, the media’s current bogeyman-in-chief.
When it comes to buying your first home, it’s not always immediately obvious where you should be looking. Sure, you can take a look at the areas in and near your rental home – but chances are its going to be pricey.
However, there are some options to help you know where to look to get the best value for money and the perfect first-time buyer property. While they’re never going to be in the most popular part of the town or city you prefer, you might be surprised at what you can afford as a first-time buyer.
It’s no secret there’s a lack of affordable and suitable housing available to rent or buy in the UK right now. But, what is a bit baffling, is why this problem is continuing and even escalating, even though it’s so well know?