In the UK, all commercial and domestic buildings available to buy or rent must have an Energy Performance Certificate (EPC). But what is an EPC? How do you get one? How is it calculated? We go through every possible question you could have about Energy Performance Certificates.
As expected, plans to help the housing market and first-time buyers in particular, were included in Chancellor Philip Hammond’s Budget. What were these policies, and how could they affect the property market? We discuss the inaugural autumn budget in this blog.
The tightrope of being a Birmingham buy-to-let landlord is a balancing act many do well at. Talking to several Birmingham landlords, they are very conscious of their tenants’ capacity and ability to pay the rent and their own need to raise rents on their rental properties (as Government figure shows ‘real pay’ has dropped 1% in the last six months). Evidence does however suggest many landlords feel more assured than they were in the spring about pursuing higher rents on their Birmingham buy-to-let properties.
In November 2015, George Osborne disclosed plans to restrain the buy-to-let (BTL) market, implying its growing attractiveness was leaving aspiring first time buyers contesting with landlords for the restricted number of properties on the market. One of things he brought in was that tax relief on BTL mortgages would be capped, starting in April 2017.
Before April 2017, a private landlord could claim tax relief from their interest on their BTL mortgage at the rate they paid income tax – (i.e. 20% basic /40% higher rate and 45% additional rate). What does this mean for current landlords, and is there any other options to reduce the amount of tax being paid?
In Birmingham, of the 416,130 households, 104,911 homes are owned without a mortgage and 119,850 homes are owned by a mortgage. Many homeowners have made contact with me asking what the General Election will do the Birmingham property market. The best way to tell the future is to look at the past.
I have looked over the last five general elections and analysed in detail what happened to the property market on the lead up to and after each general election. Some very interesting information has come to light.
There have been significant changes in the heart of Birmingham in recent years and over the past decade. Back in 2003, the Bullring development was a major level of work and it paid off, bringing a greater volume of footfall through the shopping district than had been predicted. This helped to make Birmingham one of the leading shopping hotspots in the whole of Europe, something the city took great pride in.
On the back of this, and a level of demand for city living, there were a number of housing developments and new property being added to the city centre skyline. However, the most prominent changes in the heart of the city relate to the main transport hub in Birmingham, New Street Station.
Research from Nottingham Building Society states that 21% of buy-to-let investors have to wait at least four months before finding their first tenants. This is a very worrying prospect for an investor needing to keep up with making mortgage payments. How does buying a property with sitting tenants help?
The next five years will see an interesting change in the Birmingham property market. My recent research has concluded that the rent private tenants pay in Birmingham will rise faster than Birmingham property prices over the next five years, creating further issues to Birmingham’s growing multitude of renters. In fact, my examination of statistics forecasts that ..
By 2022, Birmingham rents will increase by 21%,
whereas Birmingham property values will only grow by 16%.
Capital growth, rental income and flipping property. We talk through Investing in Birmingham Buy to let.