Personal Buy to Let Mortgages
If you are planning to purchase or already own a buy-to-let property in a personal name, you undoubtedly want to make the most out of the investment as possible. Owning a property in a personal name can often mean that you will get a better rate of interest, have a greater choice of mortgage lenders and there may be cheaper set up costs when compared to alternative ownership structures. Until 2017, landlords were able to claim tax relief on most expenses related to their property which included mortgage interest costs. However, from 2020, landlords are now only able to claim a basic rate deduction on their financing costs, meaning that a smaller portion of the income is received, which predominantly affects those who are higher rate and additional rate tax payers. There are many advantages and disadvantages of owning properties in a personal name, and it is recommended that you consult with a specialist tax advisor to gather advice on which option may be best suited to your circumstances.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Some Buy to Let mortgages are not regulated by the Financial Conduct Authority.
The information on this website is subject to the regulatory regime and is therefore targeted at consumers in the UK. No representations are made as to whether the information is applicable in any other country which may have access to it.
Providence Global Finance is a trading name of Just Mortgages Direct Limited which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority.
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