The factsheet covers mortgage tax relief changes – which will be cut from 45% to 20% from 2017 to 2020 – and is hosted on the provider’s website.
Paradigm Mortgage Services has created an adviser factsheet detailing changes to the buy-to-let market.
The factsheet covers mortgage tax relief changes – which will be cut from 45% to 20% from 2017 to 2020 – and is hosted on the provider’s website.
It will also focus on the wear and tear allowance, which was changed from an automatic deduction to a relief which will need proof of repair or replacement.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “To say the buy-to-let market is going through a period of flux at present would be something of an understatement.
“With all the changes that have taken place in recent months, plus impending consultations and measures which are due to be introduced over the next 12 months, it’s important that advisers keep on top of what’s happening.
“This factsheet, put together by our mortgages technical director Christine Newell, provides advisers with a run-down of all the recent changes plus details on what is coming next, and how it might impact on the buy-to-let market as a whole, lenders’ activity and loan criteria, plus the investment decisions clients have to make in the future.
“We would therefore urge any adviser active in this changing sector to review the factsheet in order to keep abreast of these developments.”
Paradigm is also covering two ongoing consultations on buy-to-let: CP11/16 – Underwriting standards for buy-to-let contracts and a Basel Committee consultation paper on higher capital requirements for buy-to-let.
