Between changes to mortgage interest tax relief and regulation shifts, it’s been a difficult year for landlords—but despite the difficulty, you shouldn’t feel like expanding your buy to let portfolio is no longer an option.
There are a number of specialist lenders and challenger banks who may be able to assist you—and we retain our commitment to helping buy to let investors find the best deals.
As such, this week’s product of the week is a 2-year fixed rate product at a rate of 3.75%, which allows clients to secure a buy to let mortgage through a limited company.
Buying and holding buy to let properties in a limited company is not for everybody, but if you’re a potential landlord looking to expand your portfolio, this route could help you make valuable savings. If you plan to own four or more properties, this is an avenue you could explore.
Admittedly, mortgage costs are typically higher when you purchase a buy to let mortgage through a limited company, but this can be offset by the tax benefits. Because of changes this year, private landlords who own property in their personal names will see the amount of mortgage interest they can write off for tax purposes diminish by 25% for the next four years. This does not apply to those who own their properties in a limited name, however, so on balance, this could work out as a more efficient option.
- 2-year fixed rate
- Buy to let purchased through a limited company
We have a close working relationship with this lender, and they often offer us exclusive rates—so if you’re looking to purchase a buy to let property at any time, it is always worth giving us a call to see if you are eligible to gain access to exclusive Enness rates.
Deciding which route to go down with your buy to let portfolio may require appropriate legal and tax advice; we have a network of trusted partners who can advise you. Regardless of how you would like to expand your buy to let portfolio, Enness can help you do it.