Really quick BTL Finance Question

[nikaiyo2]

Ok actually its 2 questions

1 If I get a valuation survey done on a property I am considering purchasing, and it does not go ahead will those costs be allowable expenses?

2 Most BTL mortgage have a non occupation clause, I take it spending a couple of nights there whilst painting etc would not be a problem?

[BoRED S2upid]

No and will they know or give a fk?

[drainbrain]

1) yes. Professional fee

2) no- one will care

[dogz]

1) Yes its allowable as its an expense incurred in your lettings business so deductible

2) I would think this relates to living in the property - Sleeping there whilst painting with a kettle would be fine and as said before who would know or even care!

[rotarymazda]

Make sure you are aware of the Section 24 tax implications if you take on a BTL now. I'm surprised its worth doing any more.

[nickfrog]

rotarymazda said:

Make sure you are aware of the Section 24 tax implications if you take on a BTL now. I'm surprised its worth doing any more.

The yield is still far better than current ISA for instance and it entirely depends on LTV, gross income etc...

The BTL market might not be as good an investment for some but it might still be great for others.