Property investors innocently switching homes or renting them out may fall foul of new measures to combat fraud.
Two new schemes have started this month aimed at fighting buy to let fraud – but may trap landlords maximising returns and tax reliefs for their properties. Continue reading Tax fraud alerts set to trap landlords who are not declaring rental income or are over stating earnings on mortgage application forms. Lenders now sharing information with HMRC
Buy to let landlords should ignore the myths about insurance and make sure they have the best cover at the best price, says the Association of British Insurers (ABI).
Property investors and homeowners spend billions every year or buildings and contents cover, often without understanding the terms and conditions of their polices. Continue reading How to buy the best landlord insurance cover. Sound advice from the Association of British Insurers
The banks continue to put a brave face on restricted lending by claiming mortgage approvals are up year-on-year – but any property investor or buyer trying to raise a loan to buy a home will probably tell a different story.
Lending figures issued by the banks, building societies and other financial sector groups are now in a cycle of the organisation putting a spin on short-term upward blips when long-term trends tell a different story. Continue reading Bank mortgage lending hits five-month low. Full report from the British Bankers Association and statistics also downloadable
Most landlords look at reducing council tax and business rates while letting property is unoccupied but don’t realise they may have voided their buildings insurance if they make a claim while the property is empty.
Thousands of homes stand empty at any one time – the latest figures for England show 650,000 homes were vacant throughout 2009. Continue reading Why landlords property insurance might not pay out during void periods or when a property is undergoing refurbishment
Thousands of property tax exiles could face huge bills if a billionaire businessman loses his long-running tax battle with HM Revenue and Customs (HMRC) at the Supreme Court.
Robert Gaines-Cooper has fought for years against claims for tax dating back to 1982 and lost his case on appeal earlier this year. Continue reading Property tax exiles could face big UK bills