As we gradually edge towards a post-pandemic era, we’ve all been forced to think differently – no more so than how and where we live. During lockdown we saw numerous examples of families moving in together to share resources and save money; care for older generations or sick family members and isolating together so face to face human contact could be maintained. The question is, could this become a more permanent arrangement?
In light of the recent increased interest in property purchase, this article serves as a reminder of some of the important recent tax changes that affect how residential property and associated finance is taxed from 6 April 2020. It also considers any implications that arise out of the COVID-19 crisis.
This year has been a time of unparalleled difficulty for many. After the loneliness and disruption of lockdown restrictions, the economic shockwaves are beginning to ripple around the country. In August, the country formally entered its first recession in 11 years, and with redundancies looking to rise as the furlough scheme winds down, it’s hardly surprising that some brokers are beginning to get anxious about what the future holds.
The Bank of Mum and Dad will be a driving force behind the recovery of Britain’s housing market as buyers struggle with the economic impact of the COVID-19 crisis, new research from Legal & General and Cebr shows. Nearly one in four housing transactions (23%) will be backed by ‘BoMaD’ in 2020, with a quarter (24%) of borrowers now more reliant on financial support from family and friends.
The ongoing debate surrounding this year’s A Level results during the coronavirus pandemic, and the impact of the pandemic itself, is creating some interesting trends in the private rental sector. As students across the country firm-up their plans for the academic year ahead, it is interesting to explore how the pandemic is affecting the market and to consider whether there will be longer-term changes to this important part of the rental sector.