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Nottingham City Council Selective Licensing

6th March 2017

 

Nottingham City council are proposing to introduce a Selective Licensing Scheme for landlords owning privately rented houses within the City Council boundary. This proposal was approved by Council's Executive Board on 22nd November 2016. If the scheme is approved then the obtaining of a license for rented properties within the Nottingham City boundary will become mandatory. Landlords will need to apply for a licence for every property they wish to rent to private tenants, at a proposed cost of £600 per property, with each licence lasting 5 years...

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Tenancy Application Fees Banned

28th November 2016

 

On 23rd November 2016, the chancellor Philip Hammond announced that letting agents in England will be banned from charging fees to tenants "as soon as possible". To be precise, item 3.41 Letting Agents Fees of the 2016 Autumn Statement stated "The government will ban letting agent's fees to tenants, to improve competition in the private rental market and give renters greater clarity and control over what they will pay. The Department for Communities and Local Government (DCLG) will consult ahead of bringing forward legislation...

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Mortgage Tax Relief Changes for Landlords

1st August 2016

 

The tax relief that landlords of residential properties get for finance costs is to be restricted to the basic rate of Income Tax. This change was announced by George Osbourne in 2015. It will be phased in over 4 years from April 2017, to be fully in place by 6th April 2020. Finance is defined as mortgages, loans, overdrafts and any arrangement fees occurred in arranging these loans. The change affects all UK resident and non-UK resident individuals who rent out residential property...

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