07JulyA survey by specialist broker Mortgages for Business reports that there has been a substantial increase in lending in the past six months to buy to let investors who have incorporated. Transactional data reveals that the number of buy to let mortgage applications completed by limited companies grew to 30 per cent of all buy to let completions in the first half of this year, up from 21 per cent in the second half of 2015. Mortgages for Business also say there has been an increase in number of lenders offering products to limited companies. It appears some landlords have incorporated to minimize the impact of recent buy to let tax changes, especially the phasing out of individual landlords’ mortgage interest tax relief. With the Chancellor announcing his intentions to lower corporation tax to 15 per cent following the Brexit result, Mortgages for Business says there may be even more landlords incorporating shortly. “Clearly, the trend for limited company buy to let represents a real step change in behavior as landlords adapt their investment strategies to mitigate the increased costs brought about by recent changes in the tax regime” commented Mortgages for Business. If you are considering Buy To Let property investment Adams Estate Agents are ideally placed to assist as the area’s leading Independent Letting and Sales Agent.
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