Banks to target landlords and buy-to-let loans

Further to Mr Patrick Honohan’s comments that the “banks will have to be more aggressive in repossessing properties in the buy-to-let sector” a couple of points should be noted.  Firstly,…

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No longer lords of the land

There was an interesting article in last Sunday’s Business Post by Michelle Devane on the challenges facing landlords as a result of the recession and recent taxation changes.

The buy-to-let investment market has been decimated by the recession and landlords are grappling with the financial consequences. The difficulties they face have also been compounded by increased government levies and taxes.

Previously they were enticed to invest by the government with hefty tax reliefs – such as Section 23 and Section 50 tax incentive properties – but now landlords are dealing with increased taxes, following a series of measures introduced in recent budgets.

And it is the amateur buyers who invested during the boom years that have been hit the hardest.

Continue Reading No longer lords of the land