Off Market Properties

Some of the best bargains in the property market are found ‘Off Market’. These are properties that the owner wishes to sell but has chosen not to go down the traditional route of using an estate agent or solicitor. There are a number of reasons why an owner may wish to sell off market but usually it is because they require a quick sale and do not wish to go to the time and expense of getting a home report, arranging viewings etc. At Spyder Properties we are offered a number of Off Market properties every month. This week we have been offered the following, which look particularly interesting.
A portfolio of 10 one and two bedroom rental properties in the Scottish Borders. Good discount on market price as well as good yield.
One bedroom flat in Leith, currently tenanted with a substantial saving over market value.
If you are interested in these- or receiving more information on Off Market properties please contact us.

Land and Buildings Transaction Tax (LBTT) Scotland- Buy To Let


In his December announcement the Scottish Finance Secretary added an additional 3% Land and Buildings Transaction Tax on all second residential property transactions over £40,000 from April 2016.

This means that any Buy To Let property that completes after 1st April will be liable for this tax on top of any other LBTT tax that is due.

This does however give 2 ½ months to increase your portfolio and avoid the new tax. With interest rates on Buy To Let Mortgages currently as low as 2% (typically around 2.5%) buy a rental property is unlikely to be as affordable in the foreseeable future.