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  • Section 24 HQ

    1st "concrete" signs of impact of Section 24

    That's why I am sceptical and don't think I will ever buy new build again. 

    I did buy off plan in E. London in late 2005.  I made some nice profit (ROI profit on cash was around 80%) but I "got lucky" because I also sold it on before completion.  I only did this because, at the time, I worked in securitisation (where banks bundled mortgages, carved them into bonds and sold them to investors - i.e. where the financial crisis started).  I personally worked on at least £18-20bn worth of issuance between 2005 and 2007, but it seemed to me that things were becoming "strained".  From this "insider position" it looked like the property market was going to catch a wobble months before it was obvious in the high street / estate agent offices - this was March 2007, a few months before Northern Rock crashed.

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    You were lucky to come out of that so well

    But I have city centre flats but I only purchased the because they had Garages and Parking which I let out separate

    Yield is great but capital values have struggled to make 10k per unit in the past 10 years

    City Canters are not the place to invest

    I will keep what I have there on Trackers for the next 15 years at around 2% so I have gained but that's a fluke

    I never dreamed rates would drop to .5%

    So I grab it while I can Hopefully I will make a little more capital in the next 15 years lol



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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    The latest data and alaysis from Equifax Touchstone has shown that, during December, mortgage sales were down 38% against the previous month - equating to £5.8bn.

    Despite December typically being a slow month for sales, year-on-year sales also dropped by 12.8% (£1.4 billion). 

    Residential figures dropped dramatically by 39.6% (£4.9 billion) on the previous month. Buy-to-let sales also tumbled, falling by 32.1% (£853.7 million) on November.

    Full/source article

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    Capital gains tax receipts hit £5.5bn in January, leaving the Treasury on course to rake in as much as £8.8bn this tax year, according to analysis of the tax receipts by NFU Mutual, the financial advice firm.

    The analysis suggests that the taxman is set to collect around £0.4bn, or 5%, more than in 2016-17, thanks in part to a sharp rise in the number of private landlords selling rental properties.

    HMRC usually receives a glut of capital gains tax receipts in January as people fill in their self-assessment tax forms, but with a growing number of buy-to-let landlords reducing the volume of properties they own, Sean McCann, chartered financial planner at NFU Mutual, points out that the Office of Budget Responsibility (OBR) estimates that receipts could hit £9.9bn in the next tax year.

    Full/source story

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    If you were the Govt with this sort of cash coming in would you repeal S24

    Not a cat in hells chance

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    An increasing number of buy-to-let landlords are likely to exit Scotland’s private rented sector or reduce the size of their property portfolio in the coming months due to tax changes coming into play.

    A new report by letting agent Aberdein Considine warns that the housing market north of the border is being weakened by Scottish government tax changes aimed at landlords, as well as Westminster’s move towards the phasing out of tax relief on mortgage payments.

    Full/source article

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    There are now almost six times more mortgages approved for first-time buyers than for landlords, lending data shows.

    The latest mortgage lending figures from banking trade body UK Finance show there were 31,400 new first-time buyer mortgages completed during July, compared with 5,500 for buy-to-let loans.

    The first-time buyer lending figures were up just 1% annually, while the number of buy-to-let mortgage approvals has fallen 14.1% over the same period.

    Full/source article

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    Buy-to-let landlords are benefiting from low mortgage rates as lenders attempt to keep them interested as tax changes start to bite.

    Full/source article

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