HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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"The Bank of England has raised interest rates from 0.5% to 0.75% after much speculation. Expectations of a strengthening economy, solid employment levels, more consumer spending and the potential for wages to rise have all played a part in the decision." (BBC News)
Of 18 areas we looked at, the best value for those wanting to rent is Chatham, on the Medway estuary in North Kent. For those wanting to buy a two to three bedroom house or flat, Chatham also turns out to be the most affordable.
Migrants coming to the UK will need to have a job paying at least £25,600, qualifications and speak English under a new points-based post-Brexit immigration system. Low-skilled immigration will be made impossible. EU migrants' chances of getting a work visa will be the same as from elsewhere.
STAMP DUTY HOLIDAY FOR PROPERTIES COSTING UP TO £500,000 AND COMPLETED BEFORE APRIL, 2021 IN ENGLAND
The government has temporarily increased the stamp duty threshold to £500,000 for property sales in England and Northern Ireland. First-time buyers will not be taxed if the property is costing £500,000 or less and the legal transaction is being completed before April 2021, more expensive properties will only be taxed on their value above that amount.
Hong Kong residents are buying more houses and apartments to lease out for income in Britain, and have became the fifth largest foreign investors in central London as of last August, driving up prices in some popular districts outside the UK capital.