In an article appearing in Specialist Lending Solutions this week, Connect Mortgages CEO, Liz Syms comments alongside other industry experts on the tax changes to the BTL market.
The article takes a look at the effect of the BTL taxes introduced by the Government and that UK finance data shows that first-time buyers and home movers are benefitting as sales grew strongly in Q2 2017.
Liz comments on the fact that BTL will not disappear, “If the intention of the additional Stamp Duty on buy-to-let was too slow a number of purchases by landlords and increase the number of first-time buyers then based on today’s UK Finance figures you would have to say that it is working.
“There may well be a small surge in purchases by portfolio landlords in September ahead of the new rules that will make it tougher for them to borrow after the 1 October, then I expect to see a slight dip again as the new regulations bite – until people get used to them and they become the new normal.
“There are still opportunities for landlords however and the need both for a better return on investment as well as the need for private rental property will mean that the buy-to-let market will not disappear,”
You can read the full article on Specialist Lending Solutions Website here, or if you have any questions regarding the changes please contact us on 01708 676111.