Survey to influence post Budget BTL product development
by Howard
I have been asked by some industry heavyweights to gain some intel from the BTL community on how they feel about the Budget changes that will affect property investors. The results of the survey could assist the market by producing valuable feedback to enable new and improved mortgage products become available to address (and hopefully offset) the tax relief and expenses changes which are being implemented over the next 2 years.
The survey is available to be viewed and used HERE
As prolific, and nationally recognised Broker with fantastic connections such as the Property118 community we have been selected to present this survey and your assistance will be greatly appreciated.
Many thanks in advance for your help and cooperation in this matter.
Best regards
Howard Reuben Cert PFS Cert CII (MP)
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Have you made any taxable capital gains this year?
Member Since November 2014 - Comments: 86
11:13 AM, 24th July 2015, About 11 years ago
Done
Member Since July 2015 - Comments: 24
11:26 AM, 24th July 2015, About 11 years ago
Done
Member Since January 2011 - Comments: 12196 - Articles: 1396
11:26 AM, 24th July 2015, About 11 years ago
DONE
Can you help us to distribute the following to BTL borrowers and lenders please Howard >>> https://www.property118.com/new-landlord-tax-rules-for-new-debt-only/76750/
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Member Since March 2014 - Comments: 3
11:43 AM, 24th July 2015, About 11 years ago
Reduce the interest rate and increase fee associated with the product, and introduce fee as instalments.
Fee I imagine would still be tax deductible?
Member Since July 2015 - Comments: 24
11:45 AM, 24th July 2015, About 11 years ago
Reply to the comment left by “Sam C” at “24/07/2015 – 11:43“:
No its still a finance cost.
Member Since January 2011 - Comments: 12196 - Articles: 1396
11:54 AM, 24th July 2015, About 11 years ago
Reply to the comment left by “Sam C” at “24/07/2015 – 11:43“:
I agree with Ewan, fees are a finance cost. This has been confirmed by HMRC.
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Member Since June 2013 - Comments: 381 - Articles: 61
12:01 PM, 24th July 2015, About 11 years ago
Reply to the comment left by “Mark Alexander” at “24/07/2015 – 11:26“:
Thanks for publishing this Mark, and thank you to the 50+ people who have already responded!
The (anonymous) findings (including the very useful comments that people are leaving, too) will be published and presented as a credible insight report in order to show a specific audience, including lenders, banks, finance distributors and politicians, the thoughts, aspirations and yes concerns that UK property investors now face post the recent Budget.
Mark, I’m happy to distribute your info above too.
Thanks again all.
Howard
Member Since September 2013 - Comments: 217
12:03 PM, 24th July 2015, About 11 years ago
Is anyone in the industry drawing up a comprehensive response? As someone who through their employment has had to move around the country frequently selling and buying a home has not been an option. Typically I have rented out my home and had to rent a property where my work was. I was during that period a 40% tax payer. Who was it that said get on yer bike to find work? Tebbit? Maggie will be turning in her grave!
Member Since January 2011 - Comments: 12196 - Articles: 1396
12:03 PM, 24th July 2015, About 11 years ago
Reply to the comment left by “Howard Reuben” at “24/07/2015 – 12:01“:
50 people already … WOW!
Thank you also for agreeing to distribute the article I linked above to your BTL clients and the ‘powers that be’ – much appreciated 😀
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Member Since May 2014 - Comments: 8
12:21 PM, 24th July 2015, About 11 years ago
Done.