Archive: Buy to Let surge is pushing up property prices
For Buy to Let investors and those buying a second home, stamp duty is due to increase by 3% in April. As a result, according to latest RICS research, house prices have been increasing with a surge of investors wanting to complete before April.
In fact, the figures from RICS show that half of surveyors told of price rises in January. This was reported on the Mortgage Introducer website in February*.
What this means for Buy to Let investors
Adam Nanson, Managing Director at Your Mortgage Expert comments:
“This research does not come as a surprise to us. Since the start of the year, nearly all of our Buy to Let investors have been keen to establish whether they can complete before the stamp duty changes in April. And, to establish what impact the stamp duty increases will make to their potential investment.
“However, if investors are looking to complete before April, they need to act now as there is not much time left. Investors also need to remember that the Government has been consulting with stakeholders and the public about the Stamp Duty changes and the results of this consultation have yet to be announced. Investors can find out more here: https://www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties/higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties.”
How Your Mortgage Expert can help
“We can help better inform Buy to Let investors by calculating what impact the impending stamp duty changes will have on the investment cost. On top of this, we have experience with working with different lenders and can understand how long completion is likely to take for those investors keen for a swift purchase.
“We offer advice on a comprehensive range of mortgage products from across the market. And, we also have knowledge of the new products that have recently been launched by providers and the affordability calculations modifications that have been made in response to Stamp Duty changes**.”
To find out how Your Mortgage Expert can help you maximise the growth from your investment, contact Adam on 01722 322683. We don’t charge for an initial consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our about us section.
The information contained within this article was correct at the time of publication. It is intended for information only and should not be used as a basis for purchasing any products. TenetLime cannot be held responsible for information that was correct at the time but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
Most forms of Buy to Let mortgage are not regulated by the Financial Conduct Authority.
Please be aware that from 6 April 2016 higher rates of Stamp Duty Land Tax will be applied to the purchase of additional residential and non-residential properties. For further information visit the Government website on the consultation. Please note, by clicking on the link you will be departing from the regulated site of Your Mortgage Expert Ltd. Neither Your Mortgage Expert Ltd nor TenetLime are responsible for the accuracy of the information contained within the non-regulated site.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Please note, by clicking on the below links, you will be departing from the regulated site of Your Mortgage Expert Ltd. Neither Your Mortgage Expert Ltd nor TenetLime are responsible for the accuracy of the information contained within the non-regulated site.