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Massive boom in buy-to-let, reveals CML

The buy-to-let market is continuing to flourish, according to figures out today.

Some 330,000 BTL mortgages, worth a total of £38.4bn, were taken out in 2006, according to the Council of Mortgage Lenders.

This represents 11 per cent of all new lending, and is a 48 per cent increase in volume and 57 per cent increase in value over 2005.

On a half-yearly basis, buy-to-let lending of £21 billion (178,000 loans) took place in the second half of 2006, the highest figures since the survey started in 1998.

The total number of buy-to-let mortgages outstanding now stands at around 850,000, worth a total of £94.8 billion.

CML director general Michael Coogan says: “The buy-to-let market has performed even more strongly than the wider market over the course of 2006. With evidence from other sources of strong tenant demand, rising rents and falling void periods, buy-to-let looks set to continue to remain popular and successful.”


Relief confirmed on employer payments

HM Revenue & Customs has confirmed that employers’ pension contributions qualify as a normal business expense, meaning the majority will qualify for tax relief.Its latest guidance governs when employers receive tax relief on contributions to registered pension schemes.Under A-Day rules, HMRC said employer pension contributions would only receive corporation tax relief if they were “wholly […]

Montpelier goes North with RST acquisition

Financial services firm and tax adviser Montpelier Group has bought the RST Group for a price believed to be around £1.5m following tense negotiations over net liabilities.Industry sources suggest that the group negotiated the price down from almost £2m to £1.5m for the accountancy company, which has coverage across the North of England and Scotland.RST […]

PruPim setting up Asia property fund

PruPim, the property investment arm of Prudential, has teamed up with La Salle Investment Management to launch an Asia property portfolio.

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


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