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Write off up to 75% with help from Government Legislation

Write off up to 75%
with help from
Government Legislation

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Despite the number of mortgage approvals picking up, times remain tough for landlords renting their properties out privately.

This is according to Smartlandlord.co.uk, which found that speculative landlords generally have low rental yields after expecting to receive capital gains for a profit.

"Prices will continue to fluctuate for some time, but yo-yoing prices coupled with an increase in buying activity indicate that we may now have reached the bottom of the market," a spokesperson from the website noted.

Cutting costs is one of the ways in which landlords need to assess their finances, the website stated, which could see them enlisting the help of a debt management company.

There were 12,800 repossessions by first-charge mortgage lenders (including buy-to-let) in the first quarter of this year, according to figures from the Council of Mortgage Lenders.

Although repossessions are still rising, the body thinks its 75,000 forecast looks pessimistic for the year as a whole and expects to reduce the figure in its next housing market forecast update.

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