This week: Grenfell backlash, buy-to-let news and Scottish Budget
The latest UK buy-to-let hotspots revealed a few surprises this week, while the Scottish Budget announcement appeared to follow Phillip Hammond’s lead. On the back of the Grenfell Tower disaster, Manchester City Council has made new safety proposals, and the city is also pipping London to the post financially. Here are seven things you might have missed this week…
1. Manchester council to approve sprinkler systems in 36 tower blocks
The £10m fire safety project gets the green light, subject to consultation with residents and leaseholders.
2. How buy-to-let mortgages have been affected by base rate rise
The announcement of the Bank of England’s base rate rise on 2 November was expected to have a significant effect on buy-to-let mortgages.
3. North-south divide widens but Manchester still beating London
The economic gap between the north and the south of England could be wider by 2020 than it was in 2010 according to Ernst & Young forecasts.
4. Why is the number of ‘accidental landlords’ on the rise?
Around 80,000 properties were put up for rent after failing to sell in 2017, adding to the stock of rental housing across the UK.
5. Tax-efficient investment schemes aren’t just for super wealthy
Last month’s Budget announced changes to Enterprise Investment Schemes (EIS), raising the investment limit to £2m – but who can invest in them?
6. Latest buy-to-let hotspots revealed with some surprise newcomers…
The latest buy-to-let figures from 2017 show plenty of shifts in the market, with a new city hitting the top spot and more emphasis on the centre of the UK.
7. Scottish Budget 2017: First-time buyers get welcome tax relief
Today’s Scottish Budget followed Phillip Hammond’s lead with a tax break for first-time buyers that will help thousands onto the property ladder.
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