Landlords - How does the Budget affect you?
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Landlords - How does the Budget affect you?


We’ve focused on the summer budget in this month’s newsletter after George Osborne announced a cut in tax relief on buy-to-let purchases which will be a blow to many of the UK’s landlords.

Tax relief on buy-to-let interest payments will be restricted to the 20% basic rate tax with the changes phased in over the next four years. Industry experts comment that rental yields will have to keep pace for landlords if they are to see returns comparable to those received in the past couple of years.  Mark Carny has some views on interest rates which we thought were interesting and is expecting these to rise over the next three years.  See more information in our first two news articles. 

So with Landlords’ finances facing future market changes it is particularly important to have the best possible tenants for rental properties – ones who always pay rents on time and in full – so as not to face the financial challenges as those reported on Channel 5’s recent TV programme on 'Nightmare Tenants, Slum Landlords’  - see more in our third news story. 

If you have any questions or comments please let us know or drop into your local branch of Atkinson Mcleod.

Best regards,

Giles Atkinson and Dan McLeod

Atkinson McLeod London Estate Agent

 



Tax relief blow for landlords

Interest rates could rise in the New Year, warns Bank of England

Landlords on the brink of bankruptcy

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