Buy to Let Mortgage Advice

Monday, May 23rd, 2016

Getting the right Buy to Let Mortgage advice is now more crucial than ever!

It is now more crucial than ever to seek out the right professional buy to let mortgage advice. Following some recent changes to many of the regulations and legal framework that governs Buy to Let property, (to include the mortgage application itself and also the tax treatment of any associated rental income and mortgage payments).

The Way Investment Property is Taxed has Changed

First time landlords or even those managing an existing Buy to Let portfolio should now seek out the expert assistance of both a specialist mortgage broker and, if required, an accountant with the appropriate property expertise who will help guide them through the new rules and regulations.

Get expert Buy to Let Mortgage Advice to Assist Your Decision Making

In fact, careful and detailed consideration should be given to all of the factors that can now impact the purchase of a Buy to Let property. For example, following changes to the way in which residential investment property is taxed, an investor may wish to decide whether to buy and own the property in question personally or alternatively set up a special purpose vehicle (or SPV) such as a limited company which would then in turn own the asset and from which its shareholders could then draw an income. Due to the complex nature of the potential for double taxation, the limited company route should not be undertaken lightly.
One important consideration when making decisions about the way an investment is structured for tax purposes may be whether an individual is employed or self-employed. In addition, a review of their overall personal taxation position is likely to be required to determine how any future income generated from the property would impact upon that.

By working closely with a pool of suitably qualified specialist accountants, a Buy to Let mortgage broker such as Caboodle is able to provide the right mortgage advice to ensure that a proposed investment application is properly completed and represents best advice.
Previously, obtaining a mortgage on an SPV owned property was not straightforward. Many of the products offered were actually inferior to the more standard ones being offered when an individual was buying in their own name, but just as the Buy to Let market has changed the mortgage products offered by many lenders have had to evolve too. Now, providing their lending criteria are met, many lenders are able to offer greatly improved products on much more competitive terms. Of course, it all depends on how each business case is presented and supported in all the circumstances and that is where your advisors can help.

Buy to Let Mortgage Advice from Caboodle Finance

If you would like to know more about our approach to Buy to Let Mortgages, please call Caboodle Finance of Sutton Coldfield, Birmingham today on 0121 308 9114 or just click HERE to contact us by email and we will be delighted to assist you with buy to let mortgage advice.

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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.

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