The future for the small BTL investor
Discussion
Just wondered what peoples thoughts are today for the small time BTL investor (less than 5 properties) now the ability of no longer being able to offset all their mortgage-interest against tax, plus the added 3% Stamp Duty per property?
I currently don't have any BTL's but was seriously contemplating buying one in the next year or 2. Certainly doesn't look so appealing now.
I currently don't have any BTL's but was seriously contemplating buying one in the next year or 2. Certainly doesn't look so appealing now.
mcbook said:
I'll probably get shot down for this but I believe the recent changes to BTL related taxation are a good thing.
It's fairly clear that the activity of BTL landlords has contributed to the house price growth that has made home ownership a dream for ordinary people in certain parts of the country. I see the recent changes as a way of cooling the BTL market and redistributing wealth.
Quite surprising from a Conservative government but what they're actually saying is "you're rich enough to own two (or more) properties so we're going to tax you a bit more". They're not brave enough to increase income tax so will raise some extra money by taxing BTLs.
A perfectly acceptable way to get some more money into the exchequer imo.
Certainly make it less attractive for investors and that's probably the point.
This is my thinking too - round my way 2 bed houses for sale are pretty scarce - it's an ok rental area so I would imagine this has added to house prices of these smaller properties.It's fairly clear that the activity of BTL landlords has contributed to the house price growth that has made home ownership a dream for ordinary people in certain parts of the country. I see the recent changes as a way of cooling the BTL market and redistributing wealth.
Quite surprising from a Conservative government but what they're actually saying is "you're rich enough to own two (or more) properties so we're going to tax you a bit more". They're not brave enough to increase income tax so will raise some extra money by taxing BTLs.
A perfectly acceptable way to get some more money into the exchequer imo.
Certainly make it less attractive for investors and that's probably the point.
This could be good news for the cash BTL investor though ?
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