ACT NOW - Buy to Let tax relief is changing!
Now that the new tax year is here, landlords will start to lose the right to claim back their mortgage interest costs at the rate they pay income tax - currently up to 45%. Instead, they will see this drop over the next three years to be replaced with a 20 %tax credit.
Whilst putting up rents to cover the shortfall in profits is one unpopular option, it also makes sense for landlords to check that they are on the best possible mortgage rate.
Best4U Mortgages can offer Buy to Let re-mortgages up to 80% LTV with rental coverage from 125%. There’s no cap on the number of properties you may hold with other lenders.
So if you’re looking for some relief from this year's tax changes, call our team today on 01536 411144.
Date: 8th April 2017