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8_12_February_2018online

Dramatic slump in buyto let lending blamed on Government intervention Letting property of the month Regulatory intervention has led to a huge 80% slump in buyto let investment. That’s according to the Intermediary Mortgage Lenders Association (IMLA), which has charted a steep drop from £25bn of net investment in the sector in 2015 to just £5bn last year. IMLA said tax changes had deterred landlords from investing and created diffi culties re-mortgaging. It warned that a period of policy consolidation was needed to assess the impact of recent changes before any further “punitive action” is contemplated. It added that buy-to-let had had a positive effect on the PRS, estimating that between 2000 and 2017, UK buy-to-let landlords invested £289bn into the sector, meeting rising tenant demand by bringing 1.8 million properties into the rental market. At the same time, real rents have fallen 4.4% across the UK, it claimed. However, new tax and regulatory measures introduced in the last two years, such as a 3% Stamp Duty surcharge and the removal of mortgage interest tax relief, have deterred some landlords from expanding their portfolios and prompted others to abandon the market. Burnaby Crescent We are delighted to introduce this beautiful 5-bedroom, semi-detached home as our lettings property of the month. Situated on a quiet residential road in the heart of Grove Park, the 2241 sq ft Edwardian family home benefi ts: two reception rooms, study, kitchen/dining room, fi ve double bedrooms, three bathrooms and a large garden. The property is well located for excellent state and private primary schools, the local shops of Fauconberg Road, Chiswick House and Grounds and Chiswick mainline station. Gunnersbury station also just a short walk away.


8_12_February_2018online
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