The Grant:
The government anncounced that £1k per new property built would be given to housebuilders who fitted their new build homes with a low flow shower. This falls in line with a government commitment to ‘water neutrality’, a pledge to keep water use constant despite an increasing number of homes in a given area newly connected to the national sewage network.
Interest Rates:
The interest rate was recently hiked to 1.25% with smaller further increases likely over the course of this year and next. Despite the media reaction, the profit yields on BTL mortgages are still impressive, yielding a few hundred pounds per month in minimum gross profit, as per our article published here.
Net Zero:
The government plans to build new pylon networks to strengthen the national grid in time for the ban on petrol and diesel cars in 2030 and the increased rate of housebuilding. Many local councils such as Essex and Suffolk councils are proposing offshoring the power supply and bringing it in to the mainland via a cable network. This will maintain the visual quality of the countryside, keep nature uninterrupted and preserve the values of local properties.
Beyond 2025
All newbuild homes from 2025 and beyond will not be connected to the gas network and will require mandatory heat pump installations as part of a hugely ambitious drive to achieve net zero nationwide. Mortgages rates are expcted to be lowered for energy effificent homes while increased for non efficient homes (band D or below) as part of a government back drive to encourage homebuilding and modifications to meet net zero objectives.
One More Thing:
Reddbox has just launched new insurance plans, allowing you to secure nine months of rent upfront, take out home insurance and as a free additional gift , insure electronic devices under the gadget insurance plan. You can still hire tradesmen and store documents all in the app, and let Reddbox calculate the figures for you, in time for the Making Tax Digital mandate.
Our offer: Download the app and start saving time managing your properties. Follow the screens to provide your details, and that’s it. Some of the key features why you should consider Reddbox are –
- A completely app-based, super simple service booking process.
- Options to pay for the service over a few months without any additional interest or fee. See our rates here. Be quick, we are running promotional rates at the moment.
- You can book the service seven days a week, which means no need to disrupt your busy day.
- A very transparent cancellation and refund policy.
- And the best one – Reddbox will automatically organise all the relevant documents such as invoices and certificates.