Buy To Let Landlords – upcoming changes you should be aware of.

If you are a considering purchasing a Buy to Let property, or if you are a small private landlord with a handful of ‘Buy to Let’ properties in your portfolio, it is likely that you will be aware of the changes that the government plans to introduce from April 2016.

For a start, the government are introducing a higher level of Stamp Duty Land Tax for all additional UK residential properties purchased after 01 April 2016. In addition to this, from 2017, the government also plan to change the way in which Landlords can claim tax relief on expenses such as Mortgage Interest (http://www.barclays.co.uk/new-buy-to-let-rules).

Despite these changes, the demand for rental properties in the UK is likely to remain high – the average age of a first-time buyer is now 31 years of age (http://www.thesundaytimes.co.uk/sto/business/money/mortgage_and_property/article1567738.ece), so a need for good quality rental accommodation remains strong for both young professionals under this age and individuals with a limited income who have no desire to start climbing the housing ladder. However, understandably, there are some Landlords out there who may be looking to sell their Buy to Let properties before the new tax rules kick in next year. If you are one of these Landlords, why not consider selling your property through National Residential? We can help you to sell your property quickly and efficiently, even if your property is tenanted. So why not give us a ring today on 01244 757152 to find out how we can help you.

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