Taylor Scott International News
Tens of thousands of investors have joined Britain’s biggest investment “club” in the hunt for cheap buy-to-let properties. Thousands are signing up to the “club” each month, and half already own a buy-to-let property Photo: keith morris / Alamy Britain’s biggest property investment “club” – it prefers to call itself a provider of specialist services to private property investors – has doubled its membership in 12 months. Assetz, founded by entrepreneur Stuart Law, said it now has 65,000 “live” investor members, up from 35,000 a year ago. Members register for free and then receive emails alerting them to potential property opportunities, which include, the firm claims, “highly discounted newbuild stock and resale buy-to-let properties, up to 50pc off 2007 prices” and offering “typically 8pc yields”. Thousands are signing up each month and half already own a buy-to-let and are looking to add to their holdings, Mr Law said. “They are cash-rich and ready to invest further.” This may sound reminiscent of the buy-to-let hysteria gripping Britain in 2006 and 2007 but Mr Law said it’s different – with today’s investors more focused on generating income, not quick capital growth. There is other evidence of growing landlord activity, such as increased lending and lettings agency business. HM Revenue & Customs is also upping its game to ensure tax is properly collected from the sector. Last week it announced a clampdown through which it will try to recover an estimated £500m per year of unpaid tax due on landlord’s rental income. HMRC believes up to 1.5million landlords may be failing to pay taxes due. Taylor Scott International
Taylor Scott International, Taylor Scott
