Christmas wish list from Rebecca Scott

Rebecca Scott “FoundItLondon”, the Creator of the independent “search engine” real estate in the UK for novice buyers, presented a “Christmas wish list” which included recommendations that should be taken by the new government to regulate and reform the housing sector in the UK in order to help young people purchase their first house.1. Tax benefits for those who first buys a house for an amount cheaper than £500000. It is, of course, on stamp duty. Starting in 2017 all buyers do not pay Stamp duty with the amount of £300000. For properties more expensive than £300,000 and £500,000 Stamp tax calculation is: (£500000 – £300000)*5%. According to the portal Zoopla, the average property price in London is now £654000 pounds. Stamp duty for a flat or house in London is even higher. The rates of taxes, cut off its path to his housing for young families. Tax benefits for them could significantly improve their financial situation. 2. The revision of the tax system for landlords. In recent years, the industry of residential real estate “Buy-to-let” has undergone several “attacks” by the tax Department. First, it imposed additional Stamp duty for investors,”buy-to-let“. Second, cancellation of benefits on mortgages for investors. This has led to higher costs for investors and increase the rent accordingly. 3. To exclude small-sized housing from taxation Stamp duty. This measure will encourage to move to small apartments and homes of elderly people and, consequently, the market will appear a lot of new housing available for sale. 4. Implement online transparency in the market of residential real estate to all interested persons could see all transactions on the market. This will ensure transparency and honesty when purchasing the largest asset in life. All information should be free for all parties. 5. Strengthening control over the activities of real estate agencies. A careful inspection of agencies subject to licensing, unfair to exclude the Agency of the real estate market in the UK. 6. Open database of homeowners scams and fraudulent agencies with access for all market participants, not only for the authorities.7. To revise the energy efficiency standards for all landlords. Buyers must be sure that the cost of housing maintenance is optimized according to the latest recommendation on energy saving. This will help to convert and reduce the initial Deposit to obtain a mortgage. ® Angliadom. Helen Entree. 06.12.2019 G.