How Will The New Buy To Let Tax Rules Affect Your Buy To Let Portfolio?
New Buy To Let Affordability Rules come into force on January 1st 2017. Set by the Prudential Regulation Authority, they will impose new minimum affordability thresholds on Buy To Let lenders. These thresholds are designed to ensure that you can continue to afford the mortgage payment and make a 25% profit should rates rise to 5.5%.
This means those looking to add to their portfolio or looking to switch a Buy To Let mortgage to another lender may find it difficult unless their rental yield can meet the new rules.
Find out more about our BTL service here
Who Will Be Affected by New Buy To Let Affordability Rules?
What Should You Do?
If you haven’t already, you should put together a portfolio list and review the details of each of your property such as mortgage amount, outstanding mortgage balance and rental income, apply the new calculation below to check where each of your properties fall within the new Buy To Let affordability rules, or simply download our free portfolio tracker below.
Call us on 01233 512012, we can check your portfolio for you and if neccessary provide a tailored report on what you can do to you don’t get caught out.
Download and use our free Portfolio Tracker to keep on top of your portfolio value, rental income, mortgage end dates and much more. The tracker allows you to filter by Mortgage Lender and other values.
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