Emma Gettings of BIG Property Finance considers why buy to let is still exceeding expectations, and looks at how property finance can help investors maximise the opportunities in today’s property market.
HMRC has revealed that a quarter of all residential properties purchased in the summer of 2016 were either a buy to let investment or a second home, despite April’s rise in stamp duty.
Over 56,000 of the 235,000 properties acquired between July and September this year were either a buy to let or an additional home, exceeding predicted industry figures.
Despite the tax changes the buy to let industry continues to thrive, while we work closely with our broker partners to enhance our product offering for owners, landlords and investors. We offer flexible rates with an 18 month buy to let loan, with a reduction in rates on our first charge buy to let products and an increase in maximum loan size, with loan to values of up to 75%.
Unlike many bridging companies, we will only charge you interest up to the day you repay the loan, subject to a minimum term of 1 month and 5 working days’ notice. We do not charge any early redemption fees and you would not incur an exit fee.
While our 18-month fix, this gives landlords and property investors peace of mind that their payments won’t change, we’ve also lowered our rates on first charge buy to let mortgages, with the aim of helping buy to let investors with their affordability calculations as they adapt to the new tax implications.
Finally, our maximum loan size is up to £500,000, which is great news for investors, given the continuing rise of house prices, with West Midland averages now pricing at £312,716 and London averages at £578,968, according to Right Move in November 2016.
We constantly monitor industry changes to improve our offerings to meet the needs of our buy to let investors, landlords, seasoned property professionals or limited companies, by having a broad choice of products with competitive rates.
For more information, visit www.bigpropertyfinance.co.uk
