Landlords enjoy reduced tax and falling buy-to-let mortgage rates

There is plenty of good news for landlords to feel optimistic about this week

Three significant improvements in the industry point to a more advantageous landscape for landlords, including decreasing financing costs, more portfolio expansion possibilities, and lighter tax obligations. These beneficial adjustments can aid landlords in optimising their profits and more skilfully navigating the rental market.

Falling Buy-to-Let Mortgage Rates
The rates on buy-to-let mortgages have fallen to their lowest point since 2022. This means fixed rates for two and five years have experienced a notable decline, therefore offering landlords more appealing financing alternatives. Furthermore, there are now more fixed and variable buy-to-let mortgage programmes on the market, providing consumers with more options and flexibility.

Expansion Plans
A significant percentage of landlords have positive outlooks for the future. According to research, one-third of buy-to-let property owners intend to increase the number of properties they own by the end of 2024. Stabilised loan rates and the anticipated sustained demand for rental homes are two factors supporting this trend. Particularly attractive for investment are areas like the North West, the West Midlands, and London.

Capital Gains Tax Reduction
A decrease in the higher rate of property capital gains tax from 28% to 24% was announced in the most recent budget. It is expected that this modification will increase the number of property transactions, giving landlords financial respite and promoting more investment in the industry.

#property #inflation #mortgages ...

Property listings at an all-time-high

Vendors have been firing strong in the property market again in recent months

Sales agents that list houses on Zoopla have an average of 31 properties for sale, which is the most in the last five years. The persistent urge to sell a house or move home is supported by a number of factors, including the pandemic, shifting work schedules, increased living expenses, tax adjustments, and greater home operating costs.

The number of family residences up for sale has increased significantly. In the UK as a whole, but especially in the southwest, seller volumes are higher. One in four homes listed for sale in the UK are four-bedroom or larger residences, which have experienced the most rise. The purpose of marketing these larger properties, which are advertised at the highest prices, is usually to draw in upsizers who will be paying more stamp duty and suffering greater financing expenses. Since many of them are travelling from "out of area," this set of buyers is serious, but they also require convincing arguments about the advantages of a property and its surroundings.

According to the most recent consumer insights, one in three purchasers who want to relocate in the next two years are upsizers. The percentage of first-time buyers who want to go from renting or living with their parents into house ownership is the same as this. Even though most sales candidates appear local, more and more individuals are being compelled to appear "out of area" due to growing mortgage rates and living expenses. According to half of upsizers, in order to find what they need, they must seek outside of their existing location.

The underlying demand for houses exists despite somewhat higher mortgage rates; however, the agents that go above and beyond to connect with every possible buyer will be the ones securing that additional cash for 2024.

#property #vendors #selling ...

Films and live shows near Rugby

The show must go on, and there’s plenty of them to choose from in your local area

We all need entertainment in our lives from time to time, and there is plenty of it out at the moment to provide us with just that, and that includes the theatre and live shows. Shows and films are a great way to bring families and couples together, so here are our top picks of cinema and live shows for you to visit in your local area in the near future.

FILM: Furiosa: A Mad Max Saga
Snatched from the Green Place of Many Mothers, young Furiosa falls into the hands of a great biker horde led by the warlord Dementus. Sweeping through the Wasteland, they come across the Citadel, presided over by the Immortan Joe. As the two tyrants fight for dominance, Furiosa soon finds herself in a nonstop battle to make her way home.
UK release date: 24th May
Address of your local cinema: Junction One, Rugby. CV21 1RW
www.cineworld.co.uk/cinemas/rugby/

SHOW: Spirit of the Blitz
From the Belgrade Theatre website:
We open the 1940s songbook for a tribute to the legendary stars who kept us smiling through our darkest days.
Thurs 30 May 2024
Location: Belgrade Theatre, Belgrade Square, Coventry. CV1 1GS
https://www.belgrade.co.uk/events/spirit-of-the-blitz/

#property #cinema #theatre #rugby ...