March 19, 2019
ONE IN TWELVE LANDLORDS UNAWARE OF LEGISLATIVE CHANGES
- One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January.
- Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, with two-thirds having knowledge of the changes to mortgage tax relief and the impending tenant fee ban.
- Less well known are the reduction in Capital Gains Tax for non-property investments, and knowledge of the minimum rent to mortgage cost ratio required by lenders to approve a buy-to-let mortgage.
- The survey notes that legislative changes are considered the main concern for current landlords, while agents are more concerned about tenant behaviour.