Rishi’s Summer Statement is good news for Buy-to-Let

This week, the chancellor offered some temporary relief from the ravages of the additional tax burdens shouldered by landlords and investors over the last few years, for those that can still afford to invest.

Highlights are:

  • Full SDLT Exemption for purchase prices up to £500,000 until the end of March 2021
  • This includes waiver of the second home additional tariff of 3% up to the same amount
  • Subsidies of up to 2/3 of the cost of home energy efficiency improvements, chiefly
    • Loft Insulation
    • Double Glazing
    • Cavity Wall Insulation

Read more about it here…

These are all welcome steps to improve the housing stock standards and boost the economy through property transactions.

Unfortunately nothing here to support landlords without the means to take advantage of this, but for those that can, the perfect opportunity grow and improve your real estate asset base.

However, if you are lucky enough to be operating your property through a limited company structure, then an excellent funding vehicle for your improvements and purchases is the Covid-19 Bounce Back Loan Scheme, which will lend you up to 25% of your company turnover, interest free for Year 1 and no redemption penalties.

Happy Saving!

News: Godwin Developments announce major Bolton project

Godwin developments Botlon Site

Stuart Pratt, group development director for Godwin Developments said: “We are really excited to have secured this prime site in central Bolton. The Bolton Masterplan presents impressive opportunities for investment and property development in this fast-growing Northern town, which is set to attract over £1 billion in public and private investment while creating 7,400 jobs.

“Our aim is to work closely with all local stakeholders, particularly Bolton Council and the wider community, to deliver a scheme that will enhance and support the considerable regeneration planned for this area, while also strengthening our growing footprint in the North of England.

High Street Group – a UK Property Developer profile

I’ve just finished watching a rather useful and interesting Northern Business Leaders interview with High Street Group CEO Gary Forest. I don’t recommend videos lightly (!) but this one is worth sitting down with a cuppa. Impressed by his lack of ego, the smarts and the insight into the future of PRS.

Stick with it and enjoy!

CEO Gary Forest unpacks the High Street Group business model