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    photo-iconPhotograph taken in St. Margaret's Court, Angmering
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Tax relief for residential landlords

The tax relief that landlords of residential properties get for finance costs will be restricted to the basic rate of Income Tax, this will be phased in from April 2017.

How the tax reduction is worked out

The reduction is the basic rate value (currently 20%) of the lower of:

  • finance costs – costs not deducted from rental income in the tax year (this will be a proportion of finance costs for the transitional years) plus any finance costs brought forward
  • property profits – the profits of the property business in the tax year (after using any brought forward losses)
  • adjusted total income – the income (after losses and reliefs, and excluding savings, pensions and dividends income) that exceeds your personal allowance

The tax reduction can’t be used to create a tax refund.

If the basic rate tax reduction is calculated using the ‘property profits’ or ‘adjusted total income’ then the difference between that figure and ‘finance costs’ is carried forward to calculate the basic rate tax reduction in the following years.

The restriction will be phased in gradually (25% at a time) from 6 April 2017 and will be fully in place from 6 April 2020.

More info at https://www.gov.uk/government/news/changes-to-tax-relief-for-residential-landlords   and  https://www.gov.uk/guidance/changes-to-tax-relief-for-residential-landlords-how-its-worked-out-including-case-studies


Portal prices

What have property portals got to do with my asking price?

As so many potential buyers use the internet to look for properties we have to look at the choices they have when looking at these sites.

At Cooper Adams we look extremely closely at the nature of buyers and design our property marketing for maximum impact. When buyers are scanning long lists on their computers/tablets/smartphones the ads have to pop out and grab them. the photos and text especially.

Many agent fail at this and use uninspiring photos and sometimes the first line of text is “X agents are proud to bring to the market this xxx home….” What a waste of text!!! Are they really trying to get you the best price and a sale or market their own name?

On price we look at the bands people search in, if your price is just outside this band you will miss out on many buyers and may end up with a lower offer than if you were in the band. Our job is to achieve the best price possible.

The portal bands are as follows:

£200,000 – £300,000 in £10,000 steps

£300,000 – £500,000 in £25,000 steps

£500,000 – £700,000 in £50,000 steps

£700,000 – £1,000,000 in £100,000 steps

£1,000,000 – £2,000,000 in £250,000 steps

As well as this choosing the exact price is so important…

Property pricing is of paramount important these days.  I don’t mean the question of ‘value’ – but instead the art of setting the right price so that the portal searches are optimised.  For example: you have a house to sell worth approximately £1 million. An agent may suggest an asking price of £999,999.  ”It’s a psychological price point” they tell you.  I don’t agree.  At all.  I say – market at £1,000,000, and here’s why:

  • £999,999 is a cheap ploy – an ‘Asda’ price.  Your buyers aren’t daft, so don’t treat them as if they are!  Give them some respect and a ‘Harrods’ price.  Make it £1 million straight;
  • £1 million is actually an aspirational price point – your buyers WANT to spend one million pounds on a house, and tell their friends and family that they have done;
  • £1 million is a very confident price – it says “my house is worth a million pounds”  £999,999 is apologetic, humble: it says “make me an offer”;
  • £1 million gets your property shown in more searches.  At £999,999 on Rightmove or OnTheMarket.com, your property will only appear in searches up to £1 million.  At £1,000,000 straight, it appears not only in searches up to £1 million, but also those over: potentially doubling traffic to your property advert.

This is the same on all prices – Don’t set the price at £349,000 set it at £350,000, it will always show at the top of internet searches.


If you need an accurate marketing appraisal and valuation on your property please contact the team at Cooper Adams without delay.

Some information courtesy of Sam Ashdown


Conveyancing flow chart


the conveyancing process

Selling or buying a property?

The conveyancing process (conveyancing is the transfer of legal title of property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. )

What happens?


Thanks for reading.

Shaun Adams,

Want to get a SOLD or LET sign outside your property quicker? Call Cooper Adams and our team on 01903 770055 or email: property@cooper-adams.com for honest, expert and friendly ad

What is a rent charge on a freehold property?


Question: I own a freehold property. I am trying to sell and I now understand a company holds a ‘rent charge’ over my house and I have to make an annual £10 payment. What is it for?

Answer: A rent charge is an annual payment that is usually for less than £10. Rent charges have existed since the 13th century and traditionally provided a continuing income for landowners who allowed their land be used for development. Basically, a rent charge, once it has been created, applies to all subsequent owners of the property and you have to pay it no matter how long it has existed. If you have registered your ownership of the property the rent charge should have appeared in the charges register at the Land Registry, so its existence shouldn’t come as much of a surprise. You could contact the company and ask it if it will accept a payment from you to be released from the rent charge, or you could contact the Government Office for the North West (which is responsible for all applications for the redemption of rent charges under the Rent Charges Act 1977). It will work out the price for redeeming the rent charge and the owner of the rent charge will be obliged to accept this sum. Sometimes this sum is less than the company would have demanded if you had contacted it directly; the disadvantage is that going through the Government Office can be a bit of a slow process.

Need any advice with your property? Contact the team at Cooper Adams 01903 770055

Interest rates cut


rates graphic2

  • There is a long standing relationship between house prices and interest rates, with changes in base rates acting either as a stimulus or used to calm the market. Interest rates dropped below 5%, in 2001, fuelling house price growth. In 2008, once rates dropped below 4% it halted the price falls triggered by the GFC.


  • The Bank of England’s decision to cut interest rates by 0.25 points will support the housing market through a challenging period. However, while mortgage costs will be kept low, we do not expect it to trigger additional price growth this time.


  • Over 80% of loans taken out in Q2 2016 are on fixed rates, as are around half of all outstanding mortgages, meaning that savings will not be passed on to many. For those who do benefit, the savings will largely be minimal. A homeowner with a £150,000 tracker mortgage at 2% over base will save just £19 per month. Those on interest only mortgages will see slightly larger savings of £32 per month.




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