What a difference a day can make.
As from April 1st 2016 an increase of 3% stamp duty will be applied to all second residential properties over £40,000, automatic 10% ‘wear and tear ‘allowance is removed and, from April 2017 the Interest portions of BTL mortgages will change to a flat 20%.
The load of the property investor could get very weighty standing at the signpost pointing to help, support, advice, assistance, information, guidance……
Where to first?
In my experience property investors have 3 consultation choices to consider for their chicken and egg scenario; sourcing a property, enhanced mortgage/loan advise and accounting/tax guidance.
There is no crystal ball to investing in property and there’s is no wrong or right. There are, however, plenty of ‘experts’. Not all properties meet the needs of investors, lenders or investment. Not all finance meets the needs of lenders or investment. Consequently, not all investments meet the needs of an investor.
The specialist doesn’t come first. Gut instinct for good value and what’s affordable as an investment comes first, the rest can follow.
Article credit: Copyright SUF © 2016