Drop in London rental prices

According to a report by property investment firm Landbay, London rental prices dropped 0.11 per cent in October, whereas the rest of England saw an increase in rents by 0.15 per cent.

Commenting on the findings, Chief Executive and co-founder of Landbay, John Goodall, said: "Rental growth is slowing across the UK, but the pace of change varies wildly between regions.

"Falling rents in some of the most expensive parts of the country, especially prime London locations, can distort the picture for the rest of England and the UK where rents are continuing to grow at a steady pace."

Under the rules announced by the Chancellor in 2015, landlords will face new limits on how much of their mortgage interest payments they can offset against tax bills. If you are a landlord with properties with significant mortgages or loans, you could therefore soon see a major increase in the amount of income tax you are expected to pay.

Contact Steve Govey or your usual Beavis Morgan Partner if you would like to explore your planning options in more detail.