Confused by buy to let mortgage tax changes?

Buy to let mortgage tax changes came into effect in April 2017.

The changes meant that landlords would only be able to claim back 75% of their mortgage costs ahead of January 2019 when filing their tax return. From April 2020, no mortgage expenses will be deductible from rental incomes when calculating the amount of tax due.

This means that many landlords will have to pay an increased level of tax unless:

  • the ownership of the rental property is transferred to the name of their spouse
  • the ownership of the rental properties are transferred to a limited company


Recent research suggests, however, that as many landlords are still unaware of how they will be affected this tax year. 

For clarity on the situation, the advice would be to seek professional help:

  • for buy to let mortgages, contact Deal Direct on 0800 048 8828
  • for financial and tax advice, contact a qualified financial advisor

Please note that we are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of a property as an investment, you will need to contact an independent financial adviser. 

Buy to let mortgage applications from:

  • applicants whose intention is to benefit from house price growth
  • applicants whose intention is to benefit from rental income
  • applicants who are letting to buy

will be treated as a normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.

Call Deal Direct on 0800 048 8828 for expert mortgage advice.

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Article published: Wednesday, April 11, 2018
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