Autumn Budget News for Property Investors
11/24/23 • 10 min
In this episode I run through the points of the Autumn Budget that are relevant to the Property Industry including parts that were not in Jeremy Hunts speech.
Largest ever increases to minimum wage.
LHA increased to 30th percentile of local rents.
Freeze on how Business rates are calculated and the discount in leisure, retail and hospitality is extended.
£3mil invested into pilot schemes to improve the process of buying and selling homes.
A consultation to start early next year on a new PD right to split a house to 2 flats.
Annual Tax on Enveloped Dwellings (ATED) to increase by 6.7%.
Guaranteed accelerated planning decisions on big developments in exchange for a fee.
Local development orders to speed up planning decisions for key commercial developments.
£110 million to deliver schemes to offset the stall on nutrient neutrality.
Affordable Homes Guarentee scheme to expand by a further £3billion so HA's can access cheaper loans for developing new homes.
£450 million to local authority housing fund to deliver 2,400 new homes for refugees and help homelessness.
£120 million for homeless prevention.
Mortgage Guarentee scheme extended for 18 months which allows buyers to borrow 95% LTV.
To read the Autumn Budget notes in full you can download this document file:///Users/rodturner/Downloads/DOC-20231122-WA0019..pdf
As always thanks to our sponsors 978 Finance. If you are looking at finance please contact [email protected]
Hosted on Acast. See acast.com/privacy for more information.
In this episode I run through the points of the Autumn Budget that are relevant to the Property Industry including parts that were not in Jeremy Hunts speech.
Largest ever increases to minimum wage.
LHA increased to 30th percentile of local rents.
Freeze on how Business rates are calculated and the discount in leisure, retail and hospitality is extended.
£3mil invested into pilot schemes to improve the process of buying and selling homes.
A consultation to start early next year on a new PD right to split a house to 2 flats.
Annual Tax on Enveloped Dwellings (ATED) to increase by 6.7%.
Guaranteed accelerated planning decisions on big developments in exchange for a fee.
Local development orders to speed up planning decisions for key commercial developments.
£110 million to deliver schemes to offset the stall on nutrient neutrality.
Affordable Homes Guarentee scheme to expand by a further £3billion so HA's can access cheaper loans for developing new homes.
£450 million to local authority housing fund to deliver 2,400 new homes for refugees and help homelessness.
£120 million for homeless prevention.
Mortgage Guarentee scheme extended for 18 months which allows buyers to borrow 95% LTV.
To read the Autumn Budget notes in full you can download this document file:///Users/rodturner/Downloads/DOC-20231122-WA0019..pdf
As always thanks to our sponsors 978 Finance. If you are looking at finance please contact [email protected]
Hosted on Acast. See acast.com/privacy for more information.
Previous Episode
Property News Update - Simon Das 17/11/23
I was joined by Simon Das from the award winning Mortgage brokers 978 Finance to discuss the latest Property News.
Simon gives us a great update on;
The Buy to Let mortgage market.
Commercial mortgages and where prices are at now.
Development and Bridging loan market.
We also discuss;
The latest inflation figures and what that means.
The 7th Housing Minister in the last 21 months and what it really means for us.
The planning fees increasing and whether it will change anything.
Modern Methods of Construction.
How rents in commercial properties are rising but the Net Asset Values are reducing.
The latest guidance on Damp and Mould which can be seen here https://www.gov.uk/government/publications/damp-and-mould-understanding-and-addressing-the-health-risks-for-rented-housing-providers/understanding-and-addressing-the-health-risks-of-damp-and-mould-in-the-home--2#identifying-and-addressing-damp-and-mould-in-your-property
Hosted on Acast. See acast.com/privacy for more information.
Next Episode
How Banks Price Mortgages - Daryl Norkett
I spoke with Daryl Norkett the Head of Real Estate Proposition at Shawbrook Bank, one of the biggest Buy to Let and property investment lenders to discuss how mortgages work from the banks point of view.
You can also watch this episode on our youtube channel https://youtube.com/@rodcastITP?si=MbqPWAGHJEmlvcfZ please don't forget to subscribe and hit the bell icon.
This episode is vital listening for investors concerned about mortgage costs and who want to understand which factors affect pricing.
With the emphasis being on SWAP rates for the last year or two, hear how deposit led banks could be affecting mortgage pricing in this higher rate environment
Daryl gives a great run down of what has been happening in the mortgage market over the past 12 months.
What he feels needs to happen in order for mortgage rates to go down and what the time lag between those events happening and the price cuts occurring will be.
What makes some lenders pull mortgage deals while others wont need to.
How the high arrangement fees on many mortgage products affect the banks risk in terms of loan to values.
And lots more ...
How National Insurance cuts and fiscal drag can affect property investors portfolios in different ways.
If you have requirements for Buy to let mortgages, commercial mortgages, Development loans or bridging Loans then please contact [email protected] our sponsor who has done an amazing job of financing all aspects of my portfolio.
Hosted on Acast. See acast.com/privacy for more information.
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