Welcome to the February market report, where we cover the following topics.
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Bristol Homeowners £3,862,014,900 Windfall Since 2014
In the latest, and most recently published, set of UK mortgage data (for the month of November 2019) 18,470 pound-for-pound re-mortgages were made (i.e. the borrower went from one rate to another with no additional borrowing).
However, since the 1970’s, the British have seen their homes as cash cows and cash machines, with many homeowners re-mortgaging at the end of their mortgage’s introductory term (usually after the initial two, three or five years) to avoid being passed on to their mortgage lender’s more expensive standard variable rate.
Bristol Landlord’s £71.1m Tax Bill
I am asking Kerry McCarthy, Darren Jones, Karin Smyth and Thangam Debbonaire the Labour MP’s for Bristol to remind the Chancellor Sajid Javid and Prime Minster Boris Johnson to use their persuasive skills to highlight and take a more holistic approach and attitude to the private rented sector and tackle issues which affect a Bristol landlords’ capability and capacity to strategically run an effective buy-to-let business.
For the last thirty years, the Government have passed responsibility of housing the masses from local authorities (i.e. council housing) to the estimated 1.5 million British buy-to-let landlords.