Fixed-rate Accord mortgages with a £195 product fee will now be available to landlords with loan-to-values at 60 per cent and 65 per cent.
All house purchase mortgages offer £500 cashback on completion, while those remortgaging will benefit from a free standard valuation and either free standard legal fees or £300 cashback on completion.
At 60 per cent LTV, Accord is currently offering a three-year fixed rate of 2.84 per cent and a five-year fixed rate of 3.44 per cent, on house purchase.
Landlords looking to remortgage at 60 per cent LTV can benefit from a 2.99 per cent rate, fixed for three years, or a 3.59 per cent five-year fix, while those with a 65 per cent LTV looking to buy a new property can fix for three years at 3.09 per cent or five years at 3.74 per cent.

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Created: 1/4/2017 9:38:28 AM

Cheap Buy to Let Mortgages

We have found that many approach property in a rather ad-hoc fashion often utilising catchphrases such as “location, location, location” and “the worst house on the best street” and “the value is in the land”. This is in some cases used as the sole criteria without properly considering and understanding what will drive the investment. Now although these phrases can hold true in some situations, to be effective the individual investment selection process must be multifaceted and consider a range of criteria to achieve the best possible outcome. We make buy to let property investment easy by providing our clients with the information they need to make a confident and educated investment.

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Created: 1/12/2017 1:40:18 AM

Buy to let investment

Since the 4th quarter of 2016, Mortgages for Business have seen 69% of total purchase applications being made through limited companies, a 6% rise since the last quarter. To put this into perspective, this figure was 21% in 2015. More and more landlords are also transferring much of their existing portfolios into limited companies, as well as reinvesting through them. So why the change?
Since ex-Chancellor George Osborne announced the new buy to let tax changes in 2015, it is often far more sensible to invest through a limited company. In a nutshell, these tax changes, which are being phased in from April 2017 and coming into full effect in 2020, mean that if you are a higher rate taxpayer, it makes far more sense to invest through a limited company in order to be tax efficient. In addition to this, you will be taxed less when reinvesting through a limited company than in your personal name, plus it can be more efficient when withdrawing money.
Lenders are yet to fully react to this shift in interest, with very few lenders currently in the market. Having said that, Nova Financial are confident that this will change and that over the coming months and years leading up to 2020, many more lenders will start offering buy to let mortgages for limited companies and at more competitive rates. This increase in lenders will be more necessary than ever as interest in investing in limited companies grows to an all-time high and will continue to do so in the rush to invest before the tax changes come into full effect in 2020.
Mortgages for Business have commented on this, saying that it is positive that landlords are looking at their investments and current portfolios more intelligently. The government are also looking favourably upon this shift in interest, as they prefer landlords to manage their portfolios as businesses rather than as personal investments, as this can be more efficient for all parties involved.
By no means however, should you rush to switch to a limited company or invest through one. They work very well for certain people’s situations and may not be beneficial for everyone. Limited companies also have their downsides. They come with costs such as corporation tax, accounts preparation and legal fees amongst others. Investing through a limited company also takes away the opportunity to claim capital gains allowance of £11,100 when reselling a property. Having said this, for many people investing through a limited company is absolutely the right thing to do. With proper guidance and professional advice, the process can be simple and stress-free.
At Nova Financial we offer free consultations on just such things and can meet with you on a no-obligation basis to discuss your situation, should you feel the need to look into making your investments and portfolio more tax efficient and profitable.
About Us
Nova Financial is a privately owned and independent property advisory company. We specialise in assisting clients to identify the most suitable property investments for their specific personal situation based upon their goals and preferences. We offer a whole of UK approach to ensure full scope of the market and we can assist clients to source, finance and let their investment to ensure they achieve their lifestyle and financial goals.
To find out more about buy to let property investment and Nova Financial's New Approach, email info@nova.financial or visit our website at Nova.Financial. Alternatively, to ask any questions or book a complimentary appointment, call the team on 02038000600.
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