Investment Properties
Buy to let, consent to let & portfolios
Investment Properties
Buy to let, consent to let & portfolios
This means you still have a foot on the ladder whilst deciding your end destination.
A chat with one of our advisers will soon work out which option is better for your circumstances.
Consent to let
We are often asked “Is there a mortgage especially for Armed Forces to let out a property?” and the response to this is a mixed one.
In short, there are some lenders that will allow what is called a ‘consent to let’ to serving members of the Armed Forces. This allows you to purchase or remortgage a home in the standard way, but with a special agreement in place that will allow you to rent it without the extra charges normally incurred for a rental mortgage.
Buy to let
This type of mortgage is specifically designed for the purpose of letting and therefore can offer you more flexibility in the type of property and rental agreement you have in place.
The affordability of these mortgages is also assessed differently which can be more favourable in some instances. These types of mortgages are often more expensive to set up and have a higher interest rate.
Don’t get caught by the taxman
It is always worth noting that regardless of the type of mortgage you are going for, if you let the property out and receive rental income, you must declare it for tax purposes.
Find out more – https://www.gov.uk/guidance/income-tax-when-you-rent-out-a-property-working-out-your-rental-income
Property portfolios
If you already have a property and are considering purchasing more, you really need to weigh up the pros and cons and get the right advice. We can search the whole of the market to find the right lender for your aspirations.
Did you know the way rental income is treated and taxed changed in April 2017?
Find out more – https://www.gov.uk/government/news/changes-to-tax-relief-for-residential-landlords
