A busy 2017 for the buy to let market saw many lenders, advisers, and their clients adapting to changes in tax relief and the PRA changes on lending to portfolio landlords. This meant staying on top of the latest news and talking to clients about how this might affect their financial plans.
In December 2017 the government announced that it would proceed with extending mandatory property licensing of houses in multiple occupations (HMOs). On 23 January 2018, Housing Minister, Dominic Raab, stated that, subject to Parliamentary approval, the necessary regulations would be brought into force in October 2018.
The answer lies in our evolutionary past. Our ancestors may have enjoyed occasions when food was in abundance, but periods without enough to eat were potentially fatal. These primal forces still have a powerful influence on our decisions today.
Economists have identified loss aversion as a major factor in financial decision-making, in that most people would rather avoid losing money than acquire more. The psychological impact of losing is thought to be twice as powerful as the pleasure of gaining.
Well done to our 1st Financial Foundations team the advisers and all the staff for all their efforts in the process of supporting Milton Keynes Winter Night Shelter. Our Independent Mortgage Advisers pledged to help raise funds for the homeless in Milton Keynes by donating 10% of their fees between the coldest months of the year December 2016 to February 2017.