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What the new stamp duty rules mean for BTL landlords
Adrian Moloney | 19.07.2020
Whether your clients are first-time buyers struggling to get on the housing ladder, an existing homeowner, or even a buy to let landlord, COVID-19 has halted many people’s plans in 2020.
However, there is some positive news, as the Government recently announced that stamp duty in England won’t be paid on the first £500k of a property’s value until 31 March 2021.
This is no doubt welcome news for the housing industry and your clients, who can take advantage of this benefit. Plus, even with the applicable surcharge on buy to let properties, landlords all over the country will still reap the rewards.
Good news all round…
However, we understand that the current situation may have left your clients with more questions than answers. They may be concerned about how being in receipt of furlough payments will affect them, or if they qualify for a mortgage being self-employed. Or they may have a less than perfect credit score.
The good news is that Kent Reliance for Intermediaries is experienced with ‘odd’ cases like these that don’t fit the criteria of most mainstream lenders, and are here to support your clients through these difficult times.
Discover how our individual approach to assessing cases can help your clients.
Visit our buy to let, residential and shared ownership pages and download our product guides, which contain all the essential information you need.
