Buy to Let Problems in 2023

Buy-to-let problems and how landlords are being affected massively by the changes within the property sector, including mortgage interest rates Rises as well as HMRC tax changes.
The buy-to-let market has been a popular investment choice for many years, but recent changes to mortgage interest tax relief and the introduction of the 3% surcharge on stamp duty could make it a less attractive proposition in future. In this video, we take a look at how these changes could affect landlords in 2023.
Watch the full video here • Could we see the great...
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.
The content of this Video does NOT constitute giving advice it is purely designed for general information purposes only. The qualification for a mortgage will depend on your own individual circumstances, and your case should be fully discussed with a Professional Mortgage Broker before you apply. Niche Advice are Independent Whole of the Market Mortgage Broker dealing with different types of clients buying properties all across the UK.
Some Buy to let, and commercial mortgages are not regulated by the Financial Conduct Authority.
Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA No: 750263. The Financial Conduct Authority does not regulate Commercial Buy to Lets, including some Bridging Loan products.
#BuytoLetProblems #BuytoLet2023 #propertysales

[@dreamkiss]

It's ridiculous, UK government doesn't want buy to let in personal names

[@abmpropertyinvestments]

Put the property in the name of a ltd company! By doing this you can deduct mortgage expenses etc before tax as a business expense. Simple.

[@HCSL]

You can't simply 'put' it into a Ltd, you have to sell it to your Ltd because it is a separate entity. To do so will incur conveyancing fees and most importantly, stamp duty.

[@abmpropertyinvestments]

@@HCSL yeah I’m aware that I simplified it a bit - I just want to make it clear that once it is in a Ltd company, mortgage expenses etc can be deducted pre tax as opposed to having it in your personal name now.

[@HCSL]

@abmpropertyinvestments Yes true, but you have to look at the stamp duty element as dead money that you're essentially giving the government for the benefit of switching it to a Ltd, and how many years would it then take in saved taxes before you've broken even with the amount paid in stamp duty. I can't see how regular BTL is worth it any more :-/

[@odysseasv7138]

@@HCSLyou pay stamp duty once I don’t see your point

[@nasirrajay]

But if you buy on limited company name so your mortgage and all expenses going to be your experience, after that you going to pay tax

[@Blackfeet]

Oh no!

[@assassinskillz123]

This is good, don’t want landlords making money doing nothing now do we

[@Nicheadvice]

Thags an interesting comment I was trying to make a video on this as it does open up some questions if the land was not making money and they disappear what are the ramifications of the system does this mean FTB can then afford more properties

[@bobbyboyderecords]

Sell some of your places and pay off your mortgages? I only buy with cash, much lower way to get houses but maybe it's safer in normal intrest times. Do you think the base rate will ever go back down to around 0%?

[@Nicheadvice]

No i dont think we will see 0 or 1% rates again :-)

[@taggthis]

Hi, I have 60k to pay off on my mortgage for a 1 bed flat but I am planning to buy a house with my partner going halves. Shall I just try to pay off my one first mortgage so it will truly be an asset?

[@Nicheadvice]

Hmm depends on the rest of your circumstances.. complete my form and I will take a closer look www.nicheadvice.co.uk/contact-us/

[@andrewduck3568]

Tough crap my heart bleeds. No wonder there's no houses for first time buyers because of the buy to let brigade

[@Nicheadvice]

Thanks Andrew I think I will make a video on different views about buy to let and landlords and how first-time buyers and others also feel about them

[@carlyndolphin]

Silly comment….. just means that now more landlords are offloading their properties, it now mean that there are less rental properties to choose from, which is pushing up the rents.

[@Bigdogstusks]

@andrewduck3568 this is really short sighted of you. Less btl properties means renters have to pay more not less. Good Landlords provide properties to people who generally can’t (poor credit ratings so can’t get a mortgage) or don’t want to own their own properties.

[@RA-tc8tr]

@@Nicheadvicelook forward to this

[@anglewoodsdashcamfootageso2779]

Land value Tax coming soon

[@Nicheadvice]

I know how painfull that can be i have relatives in California

[@damzon2wheels657]

What’s the way out? 🤦🏾‍♂️

[@Nicheadvice]

Too early to say I am afraid

[@allykhan8594]

LTD

[@damzon2wheels657]

@@allykhan8594 Switching from personal to LTD 😅🤦🏾‍♂️

[@allykhan8594]

@@damzon2wheels657 CGT+Income tax