Wednesday, 15 June 2016

Buy-To-Let Landlords Likely To Increase Rents To Offset Higher Costs

Many tenants renting privately are likely to be hit with rent increases following changes to the tax regime for landlords, according to a new report. Research by the lender Kent Reliance found that about a third of buy-to-let landlords intended to pass on increased costs to their tenants following the surcharge on stamp duty for second property owners and cap on tax relief for buy-to-let mortgages. Four in 10 of the landlords expected to increase rents in the next six months, with three-quarters saying they would do so to offset the reduction in tax relief on mortgage interest. The average rent rise buy-to-let investors anticipated was 5.6%, or £49 a month. Read more on the Guardian website.

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