Monday 15 August 2016
Posted by: Westcor International
Landlords in the buy-to-let market have faced a double-whammy. Not only did the former Chancellor of the Exchequer introduce a new stamp duty land tax surcharge on buy-to-let properties in April, but as of 2017, tax relief on mortgage interest will be phased out to be replaced with a capped tax credit. If that wasn't enough, in response to new affordability checks currently under consultation by the Bank of England, some of the UK's biggest lenders including The Mortgage Works (TWM) and Barclays raised a key affordability threshold in the spring.