Anyone thinking of RE-MORTGAGING any time soon should have a sense of urgency about them. From January 2017, and maybe before, it looks like it’s going to get harder to re-mortgage if your yield isn’t that great on your portfolio as lenders have to assess you in more detail. See http://bit.ly/2eqP0Md.
Without a
change in policy, the situation will get worse from September 2017 for ANYONE WITH MORE THAN 4 PROPERTIES – at that point if
you re-mortgage any one, the lender will want to know the inside leg
measurement of ALL your properties in your portfolio. See http://ow.ly/mV5W3065LLm
Many landlords
will be affected by the changes to TAX RELIEF in April 2017. This has received
extensive coverage in the national media but despite this it has clearly not appeared
on some people’s radars. Information from the horse’s mouth is here - http://bit.ly/29Y25ds. As a result of this
incoming change there has been a growth in landlords setting up limited
companies to purchase property. There has also been a growth in people looking
to pay down mortgages over a period of time.
