Buy-to-let mortgages get a boost of 35% ahead of this year’s tax changes

Buy-to-let mortgages get a boost of 35% ahead of this year’s tax changes
Posted by David Bray

The Council of Mortgage Lenders has released figures that show home loans have leapt up 35% in a year. It is thought the surge has come before home owners have to pay higher stamp duty fees if the they own more than one property from this April.

Although many landlords have expressed their disappointment in the new tax rises , they are also benefiting from excellent and low rates. However, with lenders implementing tougher selection criteria, not everyone wanting to invest in buy-to-let will be able to.

The figures also showed the value of loans provided for properties in the buy-to-let sector increased by 46% in November, compared one year earlier, to £3.5bn.

Having said this, home loans for buy-to-let were down by 9% during the month of November 2015 based on the figures from the previous year.

 

Are you looking for a buy-to-let mortgage? Would you like to discuss your options with someone you can trust? Outlet has a Money team dedicated to providing financial guidance on mortgages, loans, insurance and more. Call us on 020 7287 4244 to find out how we can help. 

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