What 2019 has in store for buy-to-let landlords

There are some changes happening in 2019 which buy-to-let landlords need to be aware of

Tax Relief Changes
Firstly, in 2019 the changes to tax relief continue as the ability to deduct a number of allowable expenses along with mortgage and other finance expenses from rental income and just pay tax on the difference is phased out.  

From 6 April 2020, tax relief on finance costs will be restricted to the basic rate of Income Tax

You’ll still be able to deduct some of your finance costs when you work out your taxable property profits during 2019/2020 tax year, as highlighted in the table below.

Tax year	Percentage of finance costs deductible from rental income	Percentage of basic rate tax reduction
2017/18	75%	25%
2018/19	50%	50%
2019/20	25%	75%
2020/21	0%	100%

If you are unsure how this will affect you, we urge you to take some professional advice. There is also more information on the full impact of the changes and case studies published by HMRC which can be accessed on www.gov.uk

Tenant Fee Ban
As you are probably now aware, changes are taking place in the industry which from June will prevent letting agents from charging the tenant for referencing. 

The move by the Government is designed to make renting a home more affordable for tenants. 

Please be assured that we are currently exploring a number of ways to minimise the impact of these changes for you, whilst maintaining our current quality of service.

We will, of course, keep you updated over the coming months.

Landlord's Services

We are always striving to make life easier for our managed landlords

Portfolio Reviews

How well is your property portfolio performing? Would you like to chat through your plans for 2019 and beyond?

We can offer you a portfolio review meeting.  Working in conjunction with a financial advisor and wealth management expert, the review will allow you explore how to get the best out of your property investment and maximise returns.

Whether you have one, two or more properties, if you would like the opportunity to chat through your investment with local experts, do get in touch. Email info@belvoirandover.com or call us on 01264 366611

Virtual Viewing Service

We are thrilled to announce our Virtual Viewing Service - perfect for busy people or those living outside the area.

As long as you have some form of video calling facility (WhatsApp, FaceTime, Messenger video calling etc), the Belvoir team can show prospective buyers or tenants around properties  by using our Ipad to conduct a virtual tour.

As soon as a suitable new property comes on the market, we can arrange a virtual viewing and this will then help people decide whether it is worth booking a ‘real’ viewing. The virtual viewing can be totally interactive and we can answer questions and show any particular features in more detail.

Just give us a call on 01264 366611 to book. We look forward to showing you around!

Annual Tax Return

Also, did you know we can provide a tax return that can be emailed directly to your Accountant? There’s no charge for this email service, simply drop us an email and we can organise that for you.

If we don’t currently manage your property, come and talk to us to find out more. It might not be as expensive as you think!

Meet The Team - Jasmine Akhurst

Who's who at Belvoir Andover!

Jasmine Akhurst, Lettings and Sales Administrator

Jasmine has worked for Belvoir for around 9 months now, having previously worked in the insurance industry.

She has quite a varied role. A typical day may consist of helping those looking to move to find suitable properties, as well as preparing details and marketing properties on multiple platforms to give Belvoir clients the best chance of selling promptly.  

In addition, Jasmine gets involved in the all-important after sales service and liaises with solicitors and conveyancers from the point of sale to completion.

 ‘Outside of work I love spontaneous days out and travelling to new countries’ says Jasmine ‘The world is too big not to!’ 

Fun fact/claim to fame: On her 18th birthday, Jasmine received a birthday card signed by Nicki Minaj, Fergie from the Black Eyed Peas, Emeli Sande, Professor Green and Taio Cruz… And another one from the beautiful PRINCE HARRY!

Favourite song: Focus On Me, Jamie Wild

Leasehold vs Freehold explained!

The two most common forms of property ownership in the UK are freehold and leasehold. We get asked about the differences all the time - here's a brief explanation!

Leasehold is a method of owning a property for a fixed period, often around 125 years if the home is new, though leases can be shorter. With leasehold properties, you do not own the land it is built on, the rights of which remain with the freeholder. Possession of the property will usually be subject to the payment of an annual ground rent and possibly monthly maintenance charges. When the lease expires, ownership of the property reverts back to the freeholder. Most of the flats/maisonettes and apartments in Andover are leasehold.

A drawback to leasehold is that as the lease period diminishes, particularly beyond 75-80 years, the property may become harder to sell or obtain a further mortgage on. Leases can be extended but this can be quite costly, so it is worth being aware of this from the start. 

Freehold is the outright ownership of the property and land on which it stands. There is no time limit to the period of ownership.

Freehold is a more attractive option because it means you own both your property and the land on which it stands, without any time limit or maintenance/ground rent charges. Most houses are freehold.