8 December 2015
THE starting gun has been fired in the race to invest in buy-to-let properties before new tax changes come into force.
Linley & Simpson has witnessed a rise in the number of landlords looking to start, or expand, rental portfolios since the Chancellor announced his surprise and well-publicised move in Novembers Autumn Statement.
The canny investors are keen to make the most of the four-month buying window and save money before an additional 3% stamp duty tax on new rental properties takes effect in April 2016.
Buying a typical £100,000 rental property now or before this deadline would prevent investors having to pay an extra £3,000 in tax under the new rules.
What is more, many are also using the time as an opportunity to review their current borrowing arrangements as an array of competitive mortgage deals on the table can also result in potential savings.
Post-April, these are savings that also could be used to help pay the extra tax charges without it impacting harshly on rental returns.
"The Chancellors changes should not dampen peoples enthusiasm to buy, and rent out, a property," said Nick Simpson, Director of Linley & Simpson.
"The letting market continues to remain very strong - we have just had the busiest month in our 18-year history - and it shows no signs of abating."
"There has been an upturn in the number of people looking to take advantage of this window of real opportunity. It has certainly spurred people into action to accelerate their investment intentions and it is easy to see why."
"There are still many properties available offering rental yields which outperform the rate of return any bank or building society can offer - plus you have the very real potential for capital growth on your investment."
"Check out our website for all the properties our team of experts have vetted as suitable buy-to-let investments. Theres an indication of the rental return for each one."
For those investors wanting specialist advice on buy-to-let mortgages, or their current lending arrangements reviewing to seek out a better deal, we have teamed up with Mortgage Q - the leading name in the sector.
Please contact Andrew Milnes on 01274 568832 or email email@example.com for more information and a chat or meeting to assess the best deal for you.
Your home may be repossessed if you do not keep up repayments on your mortgage. There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is £495