Act quickly before the Buy to Let changes kick in!

Wednesday, February 24th, 2016

The recently announced Government changes to the stamp duty tax payable on Buy to Let properties has been well advertised, but what many news headlines do not do is explain exactly what the potential impact could be on an individual investor.

Clearly there are many factors that need to be taken into consideration when advising on the best of Birmingham’s Buy to Let mortgage solutions for those looking to invest in property. What remains clear is that access to great mortgage advice remains a critical component for those looking to protect and even maximise their return on investment.

Now combine the impact of these stamp duty changes with the other regulatory changes that are being introduced on 21st March this year and all of a sudden the Buy to Let landscape both in Birmingham and beyond becomes significantly less clear.

Caboodle Finance, a Specialist Buy to Let Mortgage Broker

That said, a specialist Buy to Let mortgage broker such as Caboodle Finance of Sutton Coldfield, Birmingham will be able to expertly guide you safely through all these changes to determine what they mean for you.

Many Buy to Let mortgage lenders have already made changes to their products and associated lending criteria and the rest are very likely to follow soon. Some of these changes will tighten the eligibility criteria for those trying to obtain mortgages for Buy to Let whereas others are likely to result in certain lenders placing restrictions on permitted borrowing levels.

Consumer Buy to Let

One of the most significant regulatory changes that may affect a number of people is the introduction of a ‘Consumer Buy to Let’ classification, also known as “accidental landlords”. These changes will affect non-professional landlords who often need a take out a Buy to Let mortgage following a change of circumstances rather than for pure investment purposes.

In short, Caboodle Finance help our clients navigate this regulatory maze and ensure that, subject to eligibility they get the best mortgage in all the circumstances.

For more information on Buy to Let mortgages, call Birmingham’s Caboodle Finance today on 0121 308 9114 or click HERE to contact us by email.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.

Your initial consultation is free and you are under no obligation to proceed with a mortgage we recommend. There will be a fee for mortgage advice. The exact fee will depend on your circumstances and may be reduced depending on the loan amount and any commission we receive from the lender. It is estimated that the fee will be £595, but it may range from £495 to 1% of the amount you borrow. The fee is only payable on completion and can normally be added to the mortgage. This will be discussed and agreed with you before you make an application. Please ask for a personalised illustration.

Secured loan rates from 3.95% APRC, although we have plans available up to 29.9% APRC which allow us to assist customers with the most severe credit problems. The overall cost for comparison is 7.65% APRC. For secured loans a broker fee up to 10% of the loan amount borrowed may be payable on successful completion. A lender fee may also apply. The actual APRC available will depend on your circumstances. All loans are subject to status. Please ask for a personalised illustration.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Caboodle Financial Services Ltd, registered in England at SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands B74 2UD (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of PRIMIS Mortgage Network (PRIMIS), a trading name of Advance Mortgage Funding Ltd which is authorised and regulated by the Financial Conduct Authority. PRIMIS is only responsible for the service and quality of advice provided to you in relation to mortgages, protection insurance and general insurance products. Any other product or service offered by Caboodle Financial Services Ltd may not be the responsibility of PRIMIS and may also not be subject to regulation by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let.

© 2017 Caboodle Financial Services Ltd