ONE IN TWELVE LANDLORDS UNAWARE OF LEGISLATIVE CHANGES

One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January. Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, with two-thirds having knowledge of the changes to mortgage tax relief and the impending tenant fee ban. Less well known are the reduction in Capital Gains Tax for non-property investments, and knowledge of the minimum rent to mortgage cost ratio required by lenders to approve a buy-to-let mortgage. The survey notes that legislative changes are considered the main concern for current landlords, while agents are more concerned about tenant behaviour.