Property News · July 1, 2017

Trouble in the Dales as holiday homes become the new buy-to-let


Holiday homes are attracting investors with returns of up to 12% a year, but will it make life more difficult for local people?Bainbridge is one of the prettiest villages in the Yorkshire Dales, with its wide open village green, ancient stocks and shady trees. But it is also at the heart of what many expect to be the next boom in property investment, as speculators deterred from traditional buy-to-let by new taxes and lending criteria pour into holiday lets instead.Since April buy-to-let investors have faced new taxes on their rental revenue, while at the same time the Bank of England has enforced stricter lending requirements on the banks issuing the loans – with the result that buy-to-let lending is down by half this year. Continue reading…

Source : theguardian.com
Read more…Trouble in the Dales as holiday homes become the new buy-to-let

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