Finefair Ltd keeps an eye on hotspots in London so we can give investors the best services. For example, we can advise them about locations they should consider if they are looking to expand their portfolio. In addition, we can ensure they get good rental income for their properties. We achieve this because we are one of the top guaranteed rent companies London has.
Stamp duty holiday
One of the measures that the government introduced to help the UK economy recover from the coronavirus pandemic is a temporary stamp duty holiday. The break means that people in England will not pay any tax when they buy a main residence with values up to £500,000. The new thresholds are:
- Values up to £500,000 – 0 stamp duty
- £500,001 to £925,000 – 5%
- £925,001 to £1.5million – 10%
- £1.5million+ – 12%
So, say a buyer in London chose to purchase a home for £2million. There would be zero tax on the first £500,000. Then, they would pay 5% for the portion up to the limit of the next threshold. Then they would pay 10% for the next part of the value. Finally, they have to pay 12% for the final piece of the value.
While people buying their main residence will make the biggest savings, landlords and people who want to buy a second home will also benefit. They can enjoy the same stamp duty holiday but will need to pay the extra 3% stamp duty charge.
The stamp duty holiday will be available until March 2021. However, a lot of people have already taken the opportunity to complete deals. In fact, activity has helped create several new hotspots in London.
Popular new spots
Deptford is proving to be the most popular hotspot for buyers who want to spend less than £500,000. The area has a lot to love, including a young, trendy feel. You can see this in the number of cafes and bars on the high street. It also has excellent transport links to Central London.
Bow is another smart option. It has a really great location in East London, with popular Stratford to the west and Victoria Park to the north. There is a great mix of homes here to choose from. Most importantly, there is more value than areas like Hackney. Commuting to Canary Wharf and the City is also very easy.
Harrow is also proving to be very popular. It has a great suburban feel but locals can still enjoy good connections to the centre of London. One of the best things about the area is there are lots of great schools. This makes it great for young families.
Guaranteed rent companies in London
Finefair Ltd works immensely hard to build our reputation. We want to be the go to company any time a landlord wants to guarantee their rent. To achieve this, we ensure our team can offer the most flexible services. In addition, we work closely with local authorities across London. That gives us knowledge of their leasing schemes and property needs.
So, if you want to find out more about us and why we stand out from other guaranteed rent companies in London, please get in touch. You can also learn more on our website.
