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.
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.
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.
Caboodle Financial Services Ltd
Mere Green House
46-48 Mere Green Road
West Midlands B75 5BT
Telephone: 0121 308 9114