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With PM Keir Starmer warning it would be painful, the new government’s first Budget has been hotly awaited for some weeks now. In this article, we’ll look at what the Chancellor of the Exchequer, Rachel Reeves, announced – paying specific attention to what will affect the property market.
Earlier today, the Bank of England (B of E) announced that the base interest rate will be cut by 0.25 to 4.75%. This is good news for the property market.
Despite overblown media reports of a wave of landlords selling up due to regulation changes and new government policies, property remains a viable long-term investment for many. For first-time landlords, however, common pitfalls can turn a promising venture into a stressful experience.
When considering the purchase of a ‘doer-upper’ – a property that requires refurbishment – landlords are often faced with a Shakespearean (ish) question: “To buy, or not to buy?” It’s an important decision where you must weigh up several important factors before choosing to invest or not. Below are five key considerations to keep in mind: