Closed Bridging Finance Ltd

Thank you to our broker partners for joining us for a fantastic event at the Lingfield Park Resort Evening Spring Racing 🌟🏇 With the sun shining over the racecourse, it created the perfect backdrop to catchup with our brokers and continue to forge great partnerships. When it came to picking a winner… Darren Fletcher was the first out the gate on race one! However, he wasn’t the only winner of the evening, congratulations go to Thomas White CeMAP at Connect for Intermediaries for picking the most winners overall with runner-up Rory O'Mara from Closed Bridging Finance. Thank you again for taking the time out of your busy schedules to enjoy this memorable evening. #BrokerRelationships #TeamBuilding #LingfieldPark Paul Auger Jeff Bungar Pav D. Matt Freeman Dan B. Mikie Butcher Darren Fletcher Thomas White CeMAP Syed Hassan Bukhari John McNamara Rory O'Mara Ash Ajaz - The People's Broker Foyaz Ahmed Deepak Seda Jay Jega Ashley Morley Elliot Cotterell Oliver Cotterell Oscar Delves Amit Jajodia

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Paragon reveals top 10 portfolio BTL locations: https://lnkd.in/e8skvVQf

Capital Gains Tax on Property Reduced: UK Government to reduce higher rate of capital gains tax (CGT) on property from 28% to 24% in April 2024. Aimed to boost the residential property market and incentivise landlords/second homeowners to sell. The lower rate of CGT to remain at 18%. Second, homeowners letting properties to holidaymakers face the consequences with the abolition of the "Furnished Holiday Lettings" tax regime in April 2025, expected to raise £245m annually. The change aligns holiday lets with the private rented sector, estimated to generate £300m for the Treasury. Chris Norris from the National Residential Landlord Association criticizes the move, stating that a reduction in the annual tax-free allowance will neutralise it.

Short-Term Lets Face New Planning Rules in UK The UK government is proposing new regulations for short-term lets, aiming to balance tourism benefits with resident concerns. Here's a summary: Key changes: Planning permission required: Landlords renting properties as short-term lets (excluding main homes under 90 days/year) will need planning permission. New planning class: A dedicated category for short-term lets will be created. National register: Mandatory register to track short-term lets and their impact on communities. PD rights: Two new permitted development rights: converting short-term lets to homes and vice versa, subject to local authority oversight. Rationale: Address concerns about reduced housing availability for locals due to short-term lets. Empower communities to control the balance between tourism and resident needs. Improve compliance with health and safety regulations. Reactions: Positive: Airbnb welcomes the register for clarity and data access. Supportive: Businesses impacted by short-term lets endorse stricter regulations. Overall: These proposals aim to bring more control and transparency to the short-term rental market, balancing economic benefits with community concerns. The specific regulations and their impact will depend on future consultations and implementation details.