Next,reviewyourmortgage。

Buy-to-letinvestorscanoffsetmortgageinterest(butnotcapitalrepayments)againstrentalincomefortaxpurposes。

Sointoughtimesconsiderminimisingyourmonthlyoutgoingsbyswitchingtoaninterest-onlymortgage。

Thebuy-to-letmortgagemarketmayhaveshrunkbuttherearestilldealsavailableforthosewithplentyofequity,saysSusanEmmettinTheDailyTelegraph。

Ifyoucantremortgagetoacheaperdealthenthereareotherwaysyoucancutcosts。

Letting-agentfees,insurance,accountancyfeesandtravelcostsbetweenrentalpropertiesareallalsoeligiblefortaxrelief。

Thentheresawearandtearallowanceof10%ofyourrentalincome,whichistaxdeductable。

Thiscanincludethecostofreplacingoldorbrokenitems,butnotimprovements,suchasupgradingthekitchen。

FromthestartofthismonthlandlordshavebeenrequiredtoprepareEPCs–certificateswhichtellprospectivetenantsaboutenergyefficiency。

Risingenergybillsareaworryfortenants,sobyloweringapropertysEPCratingyoumayincreaseyouroccupancyrates。

Betterstill,youcanclaimtaxreliefonupto£1,500spentonimprovements。

Morethanevertheninthecurrentclimate,landlordsneedtoapproachbuy-to-letasabusinessandseekthecorrectadvice。

Otherwisetheycouldmissout,saysChrisNorrisoftheNationalLandlordsAssociationinTheDailyTelegraph。

Aweekinthepropertymarket



SpanishpropertydevelopmentfirmSalsaInmobiliariahasannouncedthatitwillgivebuyersofits£620,000beachsidehousesafreeone-bedroomflatinoneofitsgolfresorts。



Theaveragehousepriceisnow£172,108,havingdropped12。

4%inayear,accordingtothelatestfiguresfromHalifax。

Theyalsoreportedapricefallof1。

3%inSeptember。



TheFTHousePriceIndexindicatesthatpricesdroppedby1。

1%inSeptember,contributingtoa4。

3%fallovertheyearandleavingtheaveragehousepriceworth£219,307。



TheCouncilofMortgageLendershasreportedthatinAugustonly15,600mortgageswereapprovedforfirst-timebuyers,comparedto34,800inAugust2007。

Overall,mortgagelendingfell63%to£6bn,thelowestlevelsince2002。



Theaveragenumberofsalesperestateagenthita30-yearlowof11。

5inthethreemonthstoSeptember,saystheRoyalInstitutionofCharteredSurveyors。

InLondonagentssoldanaverageofjusteightpropertiesbetweenJulyandSeptember。



EstateagencyKnightFrankreckonsthathousepriceswillfalltothesamelevelsas2003,meaningadropofanother£45,000ontheaveragehousepriceto£140,687。

Thiswouldleaveovertwomillionpeopleinnegativeequity。



TheGamblingCommissionhaswarnedthatpeoplewhoresorttorafflingtheirhomesinordertosellthemmayineffectberunningalotteryandthusbreakingthelaw。

Alegalcompetition,ontheotherhand,mustdemandalevelofknowledgeorskillthatwilldeterasignificantnumberofpeoplebutbesufficientlychallengingtogenerateclearwinners。

Lotteriesarethepreserveofgoodcausesandcannotbeoperatedforprivategain,warnedTomKavanagh,deputychiefexecutiveoftheGamblingCommission。

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