Number One In Scotland!
"Royal London suggests that savers should think twice before raiding their pension as not only would they have to pay income tax on any pension withdrawal; they would also incur costs such as stamp duty. These taxes can bite huge chunks out of the initial sum meaning people may need to radically rethink what type of property they can afford." https://www.financialreporter.co.uk/retirement/why-funding-a-buy-to-let-investment-with-a-pension-pot-could-be-a-costly-mistake.html read more
"In a survey at this week's Financial Reporter Later Life Lending Roadshow, 49% of respondents said that less people will plan to fund their retirement with a buy-to-let property due to recent regulatory changes in the market such as stamp duty increases and cuts to mortgage interest tax relief." https://www.financialreporter.co.uk/later-life/advisers-predict-fall-in-pension-pot-landlords.html read more
"The service will cover regulated and non-regulated referrals across bridging, commercial, later life lending, specialist residential, buy-to-let and other areas of the specialist lending market." https://www.financialreporter.co.uk/specialist-lending/impact-launches-specialist-referral-service.html read more
Mansfield Building Society has launched its residential mortgage proposition - including its prime residential, self-build, retirement interest-only and Versatility products - in Scotland. https://www.financialreporter.co.uk/mortgages/mansfield-bs-launches-in-scotland.html read more
This is shocking. The bank should be a hell of a lot more understanding. https://www.mortgagesolutions.co.uk/news/2018/10/10/natwest-tells-landlord-evict-tenant-benefits-pay-2-5k-ercs/?utm_source=customsell&utm_medium=email&utm_campaign=ms-house-advert-1010-1539162393 read more
This is news that all landlords need to know. Please read https://www.mortgagesolutions.co.uk/news/2018/09/25/landlords-income-1000-exempt-tax-return-obligation-hm-revenue-customs/?utm_source=customsell&utm_medium=email&utm_campaign=ms-house-advert-2509-final-send-1537892038 read more
I have completed reading an article stating that Buy-to-let lenders are not ready for new energy efficiency laws that may put the brakes on new business. The regulations – which come into force on April 1 – make it illegal for landlords to start new tenancies without the property having an Energy Performance Certificate rating of ‘E’, or higher. Read here https://www.mortgagestrategy.co.uk/new-energy-laws-trip-buy-let-lenders/ Landlords who own older properties may have problems when ew tenancy need to be read more
I have read an article stating that the Government have given local authorities the right to start changing council tax on empty properties. Philip Hammond stated "It can’t be right to leave property empty when so many are desperate for a place to live" We all know this is a load of crap. It is another way to generate money for a starving government. I don't know about the rest of the country but around here landlords want rent money and if a property is empty it is usually because it is going through read more
If you are a landlord you, most likely, have had to get a buy to let mortgage. Over the years these mortgage have been fairly easy to arrange through an experience mortgage broker. They usually required very little in documentation and the lender were mostly interested in the rental value. All this is about to change. Over the coming weeks the banks and building societies will require not only income verification but also verification from inland revenue, copy of leases, letters from letting agents and bank read more
Such "reversion" rates are often the same as the lender's standard variable rate, or SVR. According to Ray Boulger of John Charcol, the broker, SVRs can currently be as high as 5.75pc. This could mean that some banks are forced to stress test at a very high rate of 8.75pc. Stringent new rules on mortgage affordability could force borrowers to prove that they could afford repayments almost twice as high as the expected monthly cost of their loan. The Bank of England announced the beefed-up rules on affordability or read more