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Following on from last month's National Landlord Investment Show, Jeni Browne (Sales Director at Mortgages for Business) has vlogged about her 'Current State of the Buy to Let Market' seminar.Hear from Jeni on how the buy to let market is holding up, including MFB research on buy to let lending and the impacts of Section 21 and Section 24.
Click here or below to see the video!
Mortgages For Business is a commercial partner of Property Tribes.
Telephone number: 0345 415 3501
Lot of good info there
I like the Tax advice bit about structures I think lenders are right to be worried further down the line with schemes that are being sold to Landlords
I still firmly believe the way is sell your property to your company, pay all the costs, and sleep well at night
It may be more expensive but the reward will be HMRC will leave you alone if they do start challenging in the future
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
There is no rules on this, just make sure you speak to an accountant to make sure you fully weigh up the cost implications/benefits before proceeding.
I have only sold property to my company because of S24
and because I am getting older and I am looking for succession planning and Pension planning
It will not be for everyone so it needs a lot of thought
I think thats a very wise approach whilst we can only hope that these people do not come unstuck, this is very much an unknown just now.
HMRC have every right to challange
It all sounds so easy to use this sort of thing
Im not sure its a tried and tested route
what alarms me is Its and Accountant who is recommending this to there claimants
If HMRC do challenge it will be the same Accountants making a case to the HMRC
so Accountants are making money they cant lose but in between is a Client who will worry and be stressed out
If Lenders are concerned then Borrowers should be too
I would never want to be a test case
I don't think these structures are tried and tested, otherwise lenders would be comfortable with them....... and yes, its the client who carries the risk.
Indeed - its great that the lenders have finally cottoned on to borrower retention. In the specialist end of the buy to let market, often the numbers work best to move to a new lender owing to what these lenders are offering, so its worth doing some research to check the financials. But I agree, product transfers are much less hassle!
Appreciate this is re-iterating known facts and a big deal will be BTL on 15 year terms signed in 2005 ish with lenders such as CHL, MX and NR who will not extend the term. I would recommend looking at refinance options with active lenders 12 months before expiry as the hoops to go through, questions after questions etc are challenging.