The recent changes to Buy to Let has made it less lucrative for many people. But, as part of a wider financial plan, it can be a useful way of providing an income in retirement, or diversification away from other types of investment.
Our knowledge of the Buy to Let market, and the fact we provide independent mortgage advice, make us ideally placed to advise Buy to Let investors the length and breadth of the country. That’s what we do, we advise, on the right mortgage for your purchase. We’ll also happily tell you whether the property actually makes sense as an investment in the first place.
Did you know that rental income is used to assess how much you can borrow? Some, but not all lenders will require you to have a minimum salary and a minimum of 25% deposit. We will be able to help you with finding the right mortgage for your personal circumstances.
We can help you to build your investment Buy-to-Let portfolio. We will talk to you to understand your long-term goal and advise on the best way to achieve this. If you are looking to let your existing property to then purchase another home (Let-to-Buy) we can help with this. Whether you are an experienced or a first-time landlord, why not phone and talk to one of our professional team for advice today?
The money you earn from renting out the property is liable for income tax. Depending on what threshold this added income takes you up to.
However, bear in mind you can offset some of the income tax with expenses that fall into certain criteria.
Be careful not to assume that the property will always be occupied with a tenant, because if it’s not, it’s important you have a financial cushion that will enable you to continue to the make the mortgage payments.
Also, as with most properties, things can go wrong. Be prepared for the boiler to break or a damaged roof etc… It will be your responsibility to you to cover the cost of these.
This scheme allows you to buy a New Build property with an equity loan from the government under the Help to Buy – Equity Loan.
The equity loan is a maximum of 20% of the property value (to a max property value of £600,000 with a minimum deposit of 5%. We will guide you through the process and tell yu if you qualify and how much you can afford to purchase for using this scheme. We’ll then recommend the most suitable lender and mortgage product for you.
If you’re buying a property that falls below the Stamp Duty threshold, you won’t have to pay any Stamp Duty. If you’re a first time buyer, along with anyone else you’re buying with, you won’t have to pay any Stamp Duty on properties under £300,000.
We are experts within our profession and have an in-depth knowledge of lenders to find the right mortgage for you.
Every scenario is different so we’ll give you personalised advice, just for you to ensure all your requirements are met.
We believe in good, honest, down-to-earth advice that is straightforward and easily understood.
We aim to meet your needs as much as we can. Visit our appointment enquiry page, choose a time an date that works for you and we’ll try to make it work for us.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Think carefully before securing debt against your home. Your home may be repossessed if you do not keep up payments on your mortgage or any other loans secured on it.
Sheffield Money is a trading style of Maven Money Ltd which is registered with the Data Protection Act 1998 registration No. ZB495682 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 987341 an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number: 786245 and registered with the Data Protection Act 1998 Registration No: ZA178200.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
