As landlords get stuck into 2018, we wanted to highlight some of the big ticket items coming up
Two years since Stamp Duty
If you took out a two-year fixed rate mortgage following the changes to Stamp Duty in 2016, you will need to start thinking about a new product to switch to. We can make the process smooth and painless.
- It is simple and quick - we can get you a new mortgage product within a few hours
- There are no fees (unless the lender charges product fees)
Give us a call today if you'd like to talk about your options - 01923 655 441.
New energy efficiency rules
From April 2018, landlords of privately rented domestic and non-domestic property in England or Wales must ensure that their properties reach at least an Energy Performance Certificate (EPC) rating of E before granting a new tenancy to new or existing tenants.
Read the Government's guidance to landlords on complying with the 2018 ‘Minimum Level of Energy Efficiency’ standard (EPC band E).
Mortgage tax relief - coming down to 50%
This year, the second phase of the changes to mortgage tax relief are coming into force. Between 2017 and 2020, the amount of mortgage interest landlords can deduct from their rental income before calculating their tax liability is being reduced from 100% to none.
In the 2017-18 tax year, landlords can claim 75% of this cost at the higher rate and in 2018-19 it will be 50%.
See the Government's guidance on these changes for more details.
Last but not least...tougher underwriting rules for portfolio landlords
Now that the PRA considers landlords with four or more properties to be portfolio landlords, many investors need to take into account tougher underwriting rules. If you would like a refresher on what information you now need to provide to lenders, read our blog.