Sunday, April 20th, 2008
The London postcodes at greatest risk from the housing crisis was revealed today by the Evening Standard. Tens of thousands of home owners across the capital will be plunged into negative equity this year if property prices fall by 20%. People who have taken on huge mortgages compared with the value of their property will owe more than the building is worth. The worst hit would be buy-to-let investors who tried to cash in on the housing boom, according to analysis obtained by the Evening Standard. Below are the top 10 streets and London boroughs most likely to be affected. Find out more at thisismoney.co.uk.
Top 10 London streets most at risk:
Calderwood Street SE18
Erebus Drive SE28
Queenstown Road SW8
Woolwich Common SE18
St Saviours Estate SE1
Glashier Street SE8
Greenhaven Drive SE28
St John’s Estate N1
Great Dover Street SE1
Borough High Street SE1
Risk level by London boroughs:
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Tags: Buy-to-let, Credit crisis, Credit crunch, evening standard, house price falls, housing crisis, investors, London, Negative equity, thamesmead
Posted in Buy-to-let, Credit crisis, Credit crunch, Debt Management, Finance, Home loans, House prices, Landlord, Mortgages, Negative equity, Property Market, Property Prices | No Comments »
Tuesday, February 26th, 2008
Tax authorities are stepping up their efforts to uncover any buy-to-let investors that have failed to declare their rental income. Letters have been sent to landlords this week from HM Revenue & Customs (HMRC) requesting for clarification on their rental income. Landlords will have nowhere to hide as HM Revenue & Customs can search the Land Registry, stamp duty records and lettings website to find rented properties. Amateur buy-to-let investors are falling foul of the tax man because they need to declare their rental income even when a buy-to-let property has made a loss.
Tags: amateur, Buy-to-let, HMRC, Landlord, landlords, tax authorities, Taxation
Posted in Buy-to-let, Finance, Government, HM Revenue & Customs, HMRC, Landlord, Politics, Taxation | No Comments »
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