When they need assistance with council leasing Sutton clients come to us. We have the means to help them with any problems, including voids, managing and guaranteeing rent. Our team works by creating strategies around your needs. Afterwards, we stick by your side to ensure that everything goes to plan.
Recent HMRC statistics show something very interesting. Individuals bought one in five Sutton houses as properties to rent out or as second homes. It seems that new taxis on additional properties haven’t had the right affect. They didn’t discourage second home buyers such as landlords and investors.
In 2017, 19% of Sutton’s sold properties were second homes. Investors bought about 650 homes in the 2017-18 financial year. The total value was £256 million. This was all despite an additional 3% stamp duty charge on the homes. The government chose to introduce the extra tax to deter second homeowners in the hope it would make it easier for more people to get on the property ladder.
Last year, overall, the local authorities got around £38 million from stamp duty in Sutton. According to HMRC information, duty on second homes accounted for 35% of this total. This is a big percentage. It shows that investors are continuing to buy homes with the intention to let them out or hold them with the hope for long term capital gains.
Working with investors
At Finefair, our goal is to supply the highest standards to every customer. We work to offer the best customer service as well as the highest quality property management. As a result our services are great from start to finish.
Our team can help you reach your goals. They can also aid you with securing new opportunities. An opportunity could involve turning a home into a HMO or switching to public letting. We are the number one for council leasing Sutton has. Therefore we offer advice at every stage. If you would like to speak with us, please get in touch.