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Fair Mortgages can provide you with a first class service if you are looking for the best buy to let mortgage rates in the UK market.
To use our service you can:
- Contact the lender direct on the free phone numbers provided
- If you need independent advice call us on 0117 403 4222
Special features of what our advice service offers include:
- Whole of Market Broker - we deal with most UK buy to let lenders
- Rates - Access to leading 2 year tracker and other buy to let market rates
- Exclusives - Access to exclusive buy to let mortgage deals not available on high street
- Our Buy To Let Expertise - Expert help whether you are a first time investor or experienced full time landlord
- Credit Issues? - We have lenders who will take into account previous defaults and missed payments
- Experienced Buy To Let Investor? - Have a complex buy to let or have a portfolio of 5+ properties? - speak to us
To investigate your buy to let mortgage options call our specialist team on 0117 403 4222 or fill in our call back form.
Buy to let mortgage tax rule changes
From 2017, landlords can no longer deduct all their financial expenses that derived from their buy to let properties when calculating their profit from the financial year. Although these rules will have an adverse effect on private landlords’ tax bill, they are not applicable to limited companies. A number of private landlords are looking to set up limited companies, in an attempt to circumvent the tax rules. However, there are some associated costs that come with setting up a limited company which should be considered.
Therefore, it is important for landlords to reduce their overall expenditure to counter the effect of the new tax rules. Finding the best mortgage rates may be one of the most efficient ways to reduce the cost of their buy to let properties.
Regulation changes in 2017
From 2017, further changes to how the buy to let mortgage market is regulated will be implemented. These changes may make it more difficult for landlords to access buy to let mortgages.
One of the changes that will affect private landlords is that landlords can no longer spread equity across their portfolio to access a mortgage. Lenders will review a landlord’s entire portfolio and if one of the properties is not profitable then a buy to let mortgage will not be provided.
As a result of the reform in regulation, lenders will require landlords to have a rental coverage ratio of 145% and 170% for standard buy to lets and houses in multiple occupation respectively. Lenders will look at the average ratio in the area surrounding the property and request a valuation from a professional surveyor.
Finally, to adhere to the changes to the regulations, lenders will implement a stricter stress test. This means that lenders will only provide a buy to let mortgage if a landlord can make repayments in the event that interest rates increase to 5.5%.
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If you require a buy to let mortgage, it is advisable to contact a specialist property finance broker.
To find out if Fair Mortgages could help you, you can fill in our online contact form or call us directly on: 0117 403 4222.