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Written by Administrator
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 What the 2010 Budget means for Property Investors
The Budget announced yesterday had quite a few surprises for property investors - mostly good surprises! The property investors choice of accountant Stephen Fay ACA explains the key points...
Capital Gains Tax
· Higher rate tax payers to pay 28% from 23 June 2010
· Basic-rate taxpayers continue to pay 18%
This was the main tax concern for property investors, and the new regime is really quite reasonable, given the potential for CGT rates to be fully equalised with income tax rates (meaning 40% or even 50%!) |
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Read more... [Budget Guide 2010]
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Written by Administrator
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 Interest rates - will they, won't they? (rise, that is)
For the switched on property investor, like your good selves, what will happen to interest rates over the next few years is more than idle curiosity.
It can and will have a dramatic impact to your profits yet it's impossible to look into the future and know what's going to happen.
So with that in mind I'm going to give you a quick 30 second guide - and what my thoughts are to the 'inflation nutters' versus 'rate doves' debate:
Viewpoint 1: Why rates will rise
The 'inflation nutters' think that the measures aimed at reviving the economy - rate cuts and quantitative easing will create extensive price rises and therefore rate rises will be needed to prevent hyperinflation taking hold.
Inflation was |
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Read more... [Are Interest Rates Rising?]
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Written by John S
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 Buy to Let mortgages are the latest products mooted to feel the cold embrace of government regulation, as they are now proposing to extend the remit of the FSA to include all such investment finance. This has in fact been on the cards for quite a while now and I dont think has come as too much of a surprise following the wave of regulation fever.
The impact of such a move shouldn't make too much of a difference from a mortgage advice point of view, (here at Resident Broker we treat buy to let mortgages in a similar way to regulated mortgages anyway), however it may have connotations from a lending point of view - after all if the concept of affordability is passed onto buy to let mortgages then it may tighten the amount lenders are prepared to lend to any one person. Better get those mortgages in quick then!
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Read more... [Buy to let to be regulated?]
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Written by John S
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 Best quote of the last couple of weeks is definitely from Matthew Wyles chairman of the Council of Mortgage Lenders. He said the Financial Services Authority sees mortgage lenders and mortgage intermediaries as the drug-dealers at the "school gates" of the mortgage market.
He muses, "Regulators see lenders and intermediaries as the sweetshop owners - or worse, the drug-dealers at the school gates of the mortgage market, enticing innocent consumers in and then getting them hooked, for their own evil profit-driven purposes."
I just wanted to assure you that in no way, shape or form do I see myself as a sweetshop owner.
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Read more... [Buy to let hotting up]
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Written by John S
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 It's not always apparent what impact the European Commission has on our banking sector - but it certainly is this week.
The commission has demanded a break up of both the Royal Bank of Scotland and the Lloyds Group - RBS is to sell off 318 branches, while Lloyds will dispose of more than 600 branches over the next four years.
Northern Rock was also told by the commission last week that it must not appear in the top three of the mortgage best buy tables until the end of 2011. These requirements don't come into force until next year, however since the 'relaunch' of Northern Rock mortgages, they really have been very competitive in the market (see best buys below) so it really will be a case of snapping up these deals whilst they are still available.
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Read more... [Breaking up the banks]
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Property finance news
