UK Student Accommodation Sector in Trouble

UK Student Accommodation Sector in Trouble as Minister Intervenes

By Charles Kelly, Property Solutions Investor, Author of
Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

The Universities Minister laid down a warning to a summit of
student-accommodation providers to sort out the "awful and
disappointing" problems that have seen more than 20 student housing
schemes not completed on time, the BBC reports.

In an unprecedented move, Chris Skidmore summoned corporate housing
providers after students had been put into temporary accommodation at the
beginning of the autumn term.

"Students can pay significant amounts for their
accommodation and it is unacceptable to let them down at a stressful
time," the minister said.

Students in Portsmouth were among those affected, when a
private housing block was not completed, leaving about 250 without
accommodation.

Accommodation is funded from student maintenance loans -
which means billions of pounds in public spending goes into the student-housing
sector.

Private landlords have been increasingly undermined by the
government which has favoured large corporate landlords with tax breaks denied
to the smaller student accommodation providers.

Buy-to-let investors have been quitting the market in droves
since punitive property tax measures were introduced by the former chancellor
George Osborne. Some estate agents claim that Osborne’s landlord tax grab,
combined with the 2016 Brexit
vote, has effectively killed the buy-to-let property market, with prices in some
areas falling by over 20%.

However, plummeting property prices have created buying
opportunities, especially among distressed and disgruntled landlords fed up
with being treated like second class citizens.

Even property investors I meet who have not sold everything
have held back on buying further property due to the loss of tax relief on buy-to-let
mortgage loans, as well as higher rates on limited company loans.

But most traditional buy-to-let property investors are not
aware of the ‘no money down’ strategies to own or control property without
using mortgage lenders.

Smart investors are using these creative
finance, ‘no money down’ tools to build massive property portfolios in a
few short years, as their hands are not tied by mortgage lenders and the need
to save large deposits and pay higher taxes.

If you’d like more information on how to acquire wealth
building assets using none of your money, email me at Charles@CharlesKelly.net or send me a
message through Facebook or my Money Tips Daily community.

See more articles at www.moneytipsdaily.com

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Word of the Day

Section 24

Section 24, also known as the ‘tenant tax’, will
restrict relief for finance costs on residential properties to the basic rate
of Income Tax. This has been phased in from 6 April 2017. ... In simple
terms, Landlords will no longer be able to deduct all of their
finance costs from their property income when calculating their property
profits.