According to a report in the Daily Mail, the new tax implications on buy-to-let properties are having a dramatic effect on landlords.
It’s been reported that up to a third of landlords who possess just one buy-to-let property are thinking about selling their investment. Conversely, many landlords who have larger property portfolios are actually considering investing in more buy-to-lets.With certain areas of the UK ripe for investing into buy-to-let property, places such as Peterlee offer would-be landlords a perfect opportunity to get on to the buy-to-let ladder and buy a relatively cheap property that offers attractive rental yields.
Government Changes Have Hit Landlords Hard
However, the Government has bought in a series of changes over the past couple of years which affect the way landlords are taxed on buy-to-rent property. Changes have included a 3% surcharge on stamp duty, buy-to-let mortgages based on higher rental yields, and tax relief abolished so landlords now have to pay tax on all rental income not just the profit once the mortgage repayments and other costs are taken into account.
This has led to many people who were thinking of jumping on the buy-to-let bandwagon becoming cautious and many who only own one buy-to-let property are looking to offload their investment.
Strangely, those who have bigger buy-to-let portfolios are less concerned by the recent tax and mortgage changes. So much so that a reported 38% are actively looking to build on their investments and purchase more buy-to-let properties in the near future.With many parts of the country, such as Peterlee, still suffering from a depressed housing market. Anyone who might need a fast house sale may be affected by these moves.
Traditionally, anyone who wanted to sell my house fast needed to go down the estate agent route and hope that they could quickly attract a buyer. With a slow-moving property market, many home owners have found that it can take months and sometimes even years to sell their house, a situation which often causes undue stress and worry and can prove expensive.
Using an approved property buying company can help anyone who may need to sell my house fast for cash. Buyingpropertyfast.com offers home owners a feasible way of selling their property quickly and walking away with cash in their hand.
Buyingpropertyfast.com can help home owners avoid waiting months to secure a sale for their property. This can often work out saving them hundreds (or thousands) of pounds in the long run, particularly if they would need to make expensive repairs to bring the house up to a marketable standard.
With so many people now in a position where they are unable to get onto the housing ladder and are forced to rent, properties can be on the market for considerable lengths of time before the right buyer comes along.
With no worrying about bringing the property up to date or the responsibility of showing around potential buyers, sell my house for cash is a quick and easy option for those who know their property is unlikely to sell quickly on the open market.