Friday, Mar 10, 2017
Buy to let a dying tax dodge
This article is a reminder of just how hard the high loan to value Buy to Letters are going to be hit in the next few years. From April 6th they will be taxed on 25% of their mortgage interest leading to 100% by 2021. This will put many under water based on current low interest rates. Add in a small rise in interest rates and changes in NI and much off this sector will unravel. Already we have seen a massive decline in people buying Buy to Let. The next stage will be people selling. A lot of landlords are crying that this will create a housing shortage and put up rents. This is nonsense as houses get recycled not demolished. so a house taken out of the buy to let sector becomes an owned house and one less renter.
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