New Stamp Duty rules
April 04, 2016
Any individual looking to purchase a second residential property or buy-to-let will face an extra 3% stamp duty charge. The announcement was first mentioned in the Chancellor’s 2015 Autumn Statement, with the policy being finalised in the 2016 Budget. The surcharge will be added on any second...
March 30, 2016
From Friday 1 st April the government will introduce a surcharge, affecting the purchase of many properties in the UK. Despite initially being aimed at the buy to let market, the final draft of the policy holds some nasty surprises for many contractors purchasing a home to live in, so before you...
Mortgage Interest Relief
March 22, 2016
Finalised plans for the withdrawal of buy to let mortgage interest relief have been announced, sparking concerns that many property investors may be sleep walking into higher tax charges and diminishing rental returns from as early as April next year. Under new rules announced in the Chancellor’s...
The Budget 2016
March 16, 2016
Against a backdrop of worsening domestic economic performance and a government divided between Eurosceptics who want to leave the EU and those who want to remain in, George Osborne, the Chancellor, delivered his most politically challenging Budget earlier today. With corporation tax, income tax and...
Home Improvements
March 01, 2016
Planning applications for “dig downs” have reached a record high, according to research firm Glenigan and the Financial Times, as contractors take on basement extensions in a bid to eke out every square foot of value from their homes. The longstanding dilemma, “Should we move or improve”, has been...
Percentage
February 29, 2016
In March 2009 Mervyn King, the former Bank of England governor, cut the UK’s base rate from a high of 5.75% in July 2007 to a record low of 0.5% – it’s remained at its historic low since 2007 with limited prospects of further reduction and uncertainty over when it will move from its current floor...
Small Deposits
February 25, 2016
Speculation of a rise in the Bank of England’s Base Rate subsided in the first quarter of this year, forcing down interest rates for many contractors. This, coupled with a surge in the mortgage market, means that rates are no longer the biggest barrier to first time buyers getting on the property...
Contract Gap
February 18, 2016
One of the many benefits of a flexible working arrangement is the ability to take a break when you want to. However, contractors have found themselves disadvantaged when they come to apply for a mortgage by what may well be a relatively short gap in an otherwise stellar contracting track record...
First Time Buyers
February 15, 2016
A recent report carried out by the Association of Letting Agents (ARLA) has revealed the shocking cost of the UK’s rental nation on first time buyers . The report estimates that a first time buyer in England will have spent on average £68,300 in rent by the time they purchase their first property,...
Offset Mortgages
February 10, 2016
With rafts of tax and expense changes set to put the screws on many contractors’ finances, it’s essential that contractors make the most of every penny. Undoubtedly the largest financial commitment you’ll ever take on is your mortgage, so you can understand why if contractors could design their own...

Pages