11:58 AM, 14th February 2019, About 3 years ago
With the 3 main changes within the BTL market:
1. The introduction of the 3% stamp duty on second properties
2. The phasing out of the tax deductibility of mortgage interest payments through section 24
3. The tightening of mortgage underwriting standards
It is essential that landlords take a professional approach to their portfolios. Many of our landlord clients are purchasing properties or taking their existing properties and refurbishing them, in order to increase the rental income and at the same time enhance the value of their investment properties.
This can be achieved through a refurbishment loan with the certainty of an exit following the refurbishment. This is simplicity in its self. There is one valuer, one conveyancer one application and two offers issued simultaneously, one for the refurbishment loan and the other for the BTL. The initial loan can be 75% LTV and the BTL at 80% LTV at the new value. This often allows landlords to get most of their cash back out if they wish.
Many of our landlords and property investors are using this for:
There are interest rates available for the refurbishment loan starting at 0.49% and for the BTL mortgage starting at 2.99% for a 2 year fixed rate.
These loans are available for individuals, partnerships and limited companies.
For assistance with this or any other type of property loan please contact myself and my team using the form below and we will be happy to help.
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