Economic Woes Prompt Warning of Potential 25% Fall in House Prices
In the aftermath of the Bank of England’s Stress Test conducted in September last year, a bleak scenario emerged, painting a picture of house prices plunging by a third, interest rates soaring to 6%, inflation surging to 17%, and the economy spiraling into a deep recession. The stress test aimed to assess the resilience of […]
Rent Prices Soar as Landlords Flee Property Market
In a concerning development for tenants across the country, the National Association of Property Buyers has issued a stark warning that rent prices will continue their upward trajectory. The association, one of the foremost authorities in the field, claims that landlords are abandoning the property market in unprecedented numbers, contributing to the surge in rental […]
Landlords Struggle as Mortgage Rate Hikes Lead to Property Repossessions
Introduction: Landlords in the UK are facing increasing financial difficulties as higher mortgage rates imposed by lenders push them into arrears and repossession. Recent data reveals that landlords are more likely to have their properties repossessed compared to live-in homeowners, with a significant rise in arrears for the former group. The challenging situation arises from […]
Warning Renters Reform Bill Will Enable HMRC to Target Landlords
In a recent statement, Aatif Malik, a renowned accountant, raised concerns over the impending Renters Reform Bill, cautioning that its enactment into law would provide HMRC (Her Majesty’s Revenue and Customs) with a tool to extract maximum tax from landlords. Malik specifically highlighted a key provision within the Bill, the establishment of a digital private […]
Property Auctioneer Warns of Sensible Pricing in the Property Market
In the midst of a challenging property market, the UK’s largest property auctioneer is issuing a warning about the importance of sensible pricing for properties entering the market in the second half of 2023. This cautionary message holds particular relevance for buy-to-let landlords who are considering selling at auction due to the difficulties posed by […]