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George Osborne claims "one consequence of leaving the European Union would be a hit to the value of people's homes of at least 10% and up to 18%. At the same time, mortgages will get more expensive and mortgage rates will go up."
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Councillor Les Burrows becomes the new Mayor of Epping, Essex, replacing Michael Wright.
Outgoing Epping Mayor, Michael Wright said it had been an “honour and privilege” to serve over the last year as he handed over his chain of office.
Epping mayor Michael Wright was replaced by his former deputy councillor Les Burrows.
Cllr Burrows said: "I am proud to be elected to town mayor by my fellow councillors and I look forward to working for the town in the coming year."
Councillor Wright thanked colleagues and staff for their continuous help and support.
In addition, he noted that the next 12 months will be a big year for the Epping Forest District Council with the ongoing neighbourhood plan, St John’s Road redevelopment and town cemetery extension.
Cllr Burrows was proposed by Councillor Hugh Pegrum, who referred to his work with ‘Epping in Bloom’ and the horticultural society and said he would make “an excellent mayor for the coming year.”
The new mayor celebrated with a cake, baked by former mayor Janet Hedges.
Councillor Tony Church was elected deputy mayor for the civic year.
You can read the full article here
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Are you thinking of selling your home in Epping?
We have extremely high demand from qualified applicants on our database looking for property for sale in Epping and across CM16 including Theydon Bois, North Weald, Epping Green as well as the surrounding areas.
Call Lyttons Estate Agents on 01992 666 191 today to arrange your free, obligation market appraisal.
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To celebrate our relocation, we have a Spring Promotion that will outcompete the other Estate Agents in Epping CM16.
We are offering to sell your home in 10 weeks OR sell your home for FREE.
To find out more, please contact Christopher Jones on 01992 666 191.
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With numerous changes taking place in the buy-to-let market, we expand on the 4 things every landlord - whether existing or prospective – really needs to know.
Buy-to-let is constantly, evolving with times (some say). These changes are designed to cool the market, and they're certainly shaking things up. So, whether you're a landlord or are considering investing in buy-to-let property in the near future, here are five things you need to know:
1. Check your tenant has the Right to Rent
Under the controversial new Right to Rent policy, which came into effect at the beginning of February. Landlords now have to check whether their tenants have the legal right to live in the UK. If you can't prove you've made the checks and are found to be letting to a tenant who is living in the UK illegally, you could face a fine of up to £3,000. However, if you use a letting agent to manage your property, there's a good chance these checks will be already included in your contract.
2. Get ready for the stamp duty changes on 1st April 2016
Anyone buying a property as a second home or buy-to-let investment, will face a significant stamp duty hike, with a 3% surcharge being added to each band.
The changes could add a significant amount to your bill.
Here’s a quick example; If you buy (complete on purchase) on a £200,000 property from April onwards, your stamp duty bill will be £7,500, an increase of £6,000 on the current charge of £1,500.
Drinks on are George Osborne then…
3. Protect your tenant's deposit
You are legally required to protect your tenant's deposit using one of the registered tenancy deposit schemes. It's free, and must be done within 30 days of receiving the deposit. If there's a dispute at the end of the tenancy, the scheme operator will act as an arbitrator to decide whether some or all of the deposit should be returned to the tenant.
4. 4. Work out how landlord tax relief changes will affect you
Landlords can currently deduct mortgage interest costs from their property income before calculating their tax bill. However, from 2017, the amount of tax relief allowed will be gradually reduced until 2020, when costs will only be deductible at the basic rate. This will leave higher-rate taxpayers worse off. From April this year, the rules on 'wear and tear allowance' are changing as well. Under the current rules, landlords with furnished properties can deduct 10% of the annual rent from their profits before paying tax on them, regardless of whether they've spent any money on furnishings. Under the new rules, landlords will only be able to deduct actual expenditure on furnishings.