Baldock Buy-To-Let Predictions up to 2037

On several occasions over the last few months, in my Baldock Property Blog, I predicted that the rate of rental inflation (i.e. how much rents are rising by) had eased over the last year. At the same time I felt that in some parts of the UK rents had actually dropped for the first time in over eight years. Recent research backs up this prediction. Rents in Baldock for new tenancies only grew by 0.7% in the last 12 months (i.e. not existing tenants experiencing rental increases from their existing landlord). When we compare that current rate with the historical rental inflation in Baldock, an interesting pattern emerges .. 2016 – Rental Inflation in Baldock was 4.3% 2015 – Rental Inflation in Baldock was 6.4% 2014 – Rental Inflation in Baldock was 0.7% The reason behind this change depends on which side of the demand/supply equation you are looking from. On the demand side (from the tenants point of view)

read more Baldock Buy-To-Let Predictions up to 2037

Council House Waiting List in Baldock Drops by 30.8% in last 3 years

Should you buy or rent a house?  Buying your own home can be expensive but could save you money over the years.  Renting a property through a letting agent or private landlord offers less autonomy to live by your own rules, with more flexibility if you need to move. Yet, there is a third way that many people seem to forget, yet it plays an important role in the housing of Baldock people.  Collectively known as social housing, it is affordable housing, which is let by either North Hertfordshire District Council or a Housing Association to those considered to be in specific need, at rents below those characteristic in the private rental market. In Baldock, there are 737 social housing households, which represent 16.85% of all the households in Baldock.  There are a further 2,161 families in the North Hertfordshire District Council area on their waiting list, which is similar to the figures in the late 1990’s. The numbers peaked

read more Council House Waiting List in Baldock Drops by 30.8% in last 3 years

Baldock First Time Buyers Mortgages taking 33.9% of their Wages

I had an interesting chat the other day with a Baldock resident. He told he was a Baldock homeowner, retired and mortgage free.  He stated how unaffordable Baldock’s rising property prices were and that he worried how the younger generation of Baldock could ever afford to buy? He went on to ask if it was right for landlords to make money on the inability of others to buy property and if, by buying a buy to let property, Baldock landlords are denying the younger generation the ability to in fact buy their own home. Whilst doing my research for my many blog posts on the Baldock Property Market, I know that a third of 25 to 30 year old’s still live at home. It is no wonder people are kicking out against buy to let landlords; as they are the greedy bad people who are cashing in on a social woe. In fact, most people believe the high increases in

read more Baldock First Time Buyers Mortgages taking 33.9% of their Wages

579 Baldock Landlords – Is This a Legal Tax Loop-Hole?

In November 2015, George Osborne disclosed plans to restrain the buy-to-let (BTL) market, implying its growing attractiveness was leaving aspiring first time buyers contesting with landlords for the restricted number of properties on the market.  One of things he brought in was that tax relief on BTL mortgages would be capped, starting in April 2017.  Before April 2017, a private landlord could claim tax relief from their interest on their BTL mortgage at the rate they paid income tax – (i.e. 20% basic / 40% higher rate and 45% additional rate). So, for example, let’s say we have a Baldock landlord, a high rate tax payer who has a BTL investment where the rent is £900 a month and the mortgage is £600 per month.  In the tax year just gone (2016/17), assuming no other costs or allowable items, the figures are below: Annual rental income £10,800. Taxable rental income would be £3,600 after tax relief from mortgage relief This

read more 579 Baldock Landlords – Is This a Legal Tax Loop-Hole?