Recent press coverage and industry research indicates that there has never been a better time to enter the buy-to-let market, but following recent developments, leading finance guide Business Moneyfacts suggests it is not necessarily the case for everyone.
Today sees the introduction of radical legislation designed to raise standards in the rented property sector. Some houses of multiple occupation (HMOs) will attract additional costs in the form of licences and regulation compliance.
Business Moneyfacts Editor, Lee Tillcock, comments: Whilst efforts to improve rented accommodation are welcome, licence costs of up to 1,250 and possibly substantial modernisation expenses mean additional financial burden for investors. Already research from the National Landlords Association (NLA) has suggested that 61% of landlords will be less likely to purchase HMOs.
This possible hurdle for additional investors comes hot on the heels of the recent A-Day confusion. According to reports, a whole host of prospective new landlords were waiting to enter the market and place their new investment into their personal pension. The U-turn by the Chancellor, blocking residential...
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