News
Japanese knotweed outbreak warning
The recent named storms across the UK could lead to a greater Japanese Knotweed infestation in rental properties warns a specialist company
The UK reported 60 flood warnings as storms Dudley, Eunice and Franklin ravaged parts of the country, leading to a spread of knotweed.
Tax ‘loophole’ closed for landlords claiming business rates
The removal of what the government describes as a ‘tax loophole’, means landlords who let out holiday properties as businesses could be looking at an annual bill of £1,000 more a year.
At the moment, second home owners in England can declare their intention to let their properties to other holidaymakers and qualify as a small business, meaning they’re eligible for business rates instead of the more expensive council tax.
Energy efficiency targets in older homes to hit landlords hard
Around 23 per cent of surveyed landlords in a report from Shawbrook Bank, believe their properties are rated D or below for energy efficiency.
In particular, older homes such as Victorian-era properties are more likely to have a lower EPC rating and most in need of expensive changes to bring the EPC rating up of homes to a C or above by 2028.
Industry expert says scrapping of Section 21 could take years
Paul Shamplina - Head of Property for Hamilton Fraser and founder of Landlord Action, and also the star of the Channel 5 show Evicted! Nightmare Tenants - says 2022 will see at last the government’s plans to end S21 powers for landlords.
However, it will first appear in a long-promised White Paper and then take substantial consultation and legislation.
2022 to see interest rate rises
The Bank of England has raised interest rates for the first time in more than three years, in response to calls to tackle surging price rises.
The increase to 0.25 per cent from 0.1 per cent followed data this week that showed prices climbing at the fastest pace for 10 years. It has allayed concerns that people would spend less because of the Omicron variant which would in turn slow the economy.
