25 Jun

Landlords concerned over Brexit

Landlords concerned over Brexit

Landlords are being urged to stay calm following the result of the European Union referendum.

A joint statement from David Cox, managing director of Association of Residential Letting Agents (ARLA) and Mark Hayward, managing director of National Association of Estate Agents (NAEA), stressed it was important to stay come and not jump to conclusions about the long-term future of the country’s housing market.

"The outcome of the EU referendum will create a period of uncertainty among home owners, buyers, investors, landlords and developers. We can expect international investors to look a lot harder at the UK as a market and this will have a consequential impact upon the house building sector as investment may be stalled," the statement said.

It added the UK housing market is "resilient", but Brexit could lead to a lack of skills needed to ensure the ongoing development of the UK housing sector.

Anne Wilson, senior tax manager of the tax department at Pierce Chartered Accountants, also warned buy-to-let mortgages could be subjected to stronger lending criteria in the coming months, as well as changes to the tax relief given for residential letting purchases.ADNFCR-1222-ID-801820771-ADNFCR

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