| Industry News |
|
| News » Commercial Property Law » Grace period will "definitely help buy-to-let landlords" |
|
25/11/2008
Grace period will "definitely help buy-to-let landlords" |
|
An expert has responded to Alistair Darling's pre-Budget report by saying that the three-month grace period in terms of mortgage repayments before repossession will offer a helping hand to landlords.
Keshav Thukaram, managing director of buy-to-let property investment website Smartlandlord.co.uk, has claimed that another boost for landlords is the government's "emphatic assurance" that it will enter into discussions with lenders to get any cut in interest rates passed down.
In response to the three-month grace period, Mr Thukaram said it will "definitely help buy-to-let landlords who are struggling with increased voids as more properties are coming onto the lettings market due to a slump in property sales".
However, he added that landlords will gain very little from the VAT cut on an operational property management basis. The managing director explained that the benefit per property per year would be less than £100.
Meanwhile, High Court judge Mr Justice Brian McGovern has questioned mortgage policies and claimed mortgage lenders are leaving it to the courts to deal with the mess caused by providing loans to subprime candidates who cannot afford the repayments, the Irish Times reports.
 |
| |
| Related Articles |
08/01/2010
Office demand 'to focus on London'
The commercial property market will recover strongly in London in 2010, in contrast with the rest of the country, it has been predicted.
|
22/12/2009
Commercial property 'to recover slowly from recession'
Commercial property will only recover gradually in the near term as it is likely to be feeling the effects of the recession even after the economy starts growing again, it has been predicted.
|
18/12/2009
Commercial property market 'to pick up in 2010'
The use of commercial property lawyers in 2010 may pick up in the south-east as it has been forecast that the region will see matters improve as the year wears on.
|
16/12/2009
Business confidence increases
The use of business lawyers may be set to increase as a poll of firms has shown that levels of confidence are rising.
|
14/12/2009
New tax rule to "irritate" large commercial landlords
A tax break for cheaper empty properties is "welcome", but those who might use the services of a property lawyer for commercial transactions will go on being "irritated" by the commercial property rate tax they will still have to pay on large ones, it has been argued.
|
News Archive