web-archive-uk.com


Web directory, archive
Search web-archive-uk.com:


Find domain in archive system:
web-archive-uk.com » UK » M » MORTGAGESFORBUSINESS.CO.UK

Total: 798

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".
  • Why you can’t transfer personally owned rental property to an SPV | Mortgages for Business
    Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Why you can t transfer personally owned rental property to an SPV 29 12 15 Written by Beckie Pepperrell Since July 2015 we have seen a huge rise in the number of enquiries from landlords looking to transfer their property portfolios from their personal names into a Special Purpose Vehicle limited company but can it be done In real terms property cannot be transferred rather the transaction is treated as a sale by you to the company The sale is a taxable event which means that stamp duty and capital gains will be due but do check with your accountant solicitor to confirm Associated transactions Currently there are nine buy to let lenders which have products for SPV limited companies however two of them will not lend to individuals who are selling to their SPV limited company The remaining seven will consider an application as long as the sale is at full market value and subject to other lending criteria being met particularly Deposit From January 2015 all seven lenders which accept this type of associated transaction will accept a director s loan as a deposit which means that you will not be required to provide evidence of the cash Property ownership Generally speaking the directors of the new SPV will need to be the same as the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/why-you-can-t-transfer-personally-owned-rental-property-to-an-spv/ (2016-02-16)
    Open archived version from archive


  • The good and the bad of buy to let mortgage lending in 2015 | Mortgages for Business
    now they have usurped estates agents as most vilified when in truth the majority are hardworking well intentioned individuals tarred by the brush of a rogue few What I think really irks people about private landlords is the idea that money is being made out of a basic right a roof over one s head But we live in a democratic society and the people have chosen capitalism as the way forward for the next five years so what do they expect Stricter regulation hasn t helped the home buyers cause and because buy to let is viewed as a commercial not consumer transaction it is not shackled in the same way But regulation of buy to let is coming and we need to be prepared From March next year we see the introduction of Consumer Buy to Let which aims to provide a distinction between accidental landlords who may need consumer protection and professional landlords who operate their property portfolios as a business Accidental landlords will include the likes of those who have inherited a property that is let out and those who need to move for work say and choose for whatever reason to keep hold of their original home and turn it into a buy to let What the government is trying to do is move the buy to let market away from being primarily an investment to being a business So people who have or are thinking of using buy to let as an alternative pension strategy beware From 2017 onwards tax relief on finance costs including mortgage interest to higher tax rate paying individuals is being restricted in progressive downward steps to the basic rate 20 Those landlords who currently sit just below the upper tax rate threshold could find that the changes tip them over the edge What is to be done No doubt some will leave the sector Those still serious about the business of buy to let are already making purchases via corporate structures namely SPV limited companies which are not affected by changes to individual tax relief Rather they will pay corporate taxes and corporation tax is due to be reduced to 18 in the coming years Despite the not inconsiderable costs remortgaging capital gains tax stamp duty to name but a few many landlords are also selling not transferring you can t their already personally owned portfolios to their newly established SPVs Much financial pain now for a better prospect in the longer term although if landlords can demonstrate to HMRC that they are running their portfolios as a business rather than just as an investment then the capital gain on their properties can be rolled over into the cost of their shares in the SPV for CGT purposes It s not a fix all solution but it does look like a way forward and the number of enquiries regarding purchasing property via a limited company has rocketed since July We are advising ALL of our customers to take professional

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/the-good-and-the-bad-of-buy-to-let-mortgage-lending-in-2015/ (2016-02-16)
    Open archived version from archive

  • 40pc of letting agents predict fall in rental supply | Mortgages for Business
    MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight 40pc of letting agents predict fall in rental supply 23 12 15 Written by Nick Helm New research reveals that two in five 40pc of letting agents expect rental supply to drop over the next five years The findings come from new research released this week by The Association of Residential Letting Agents ARLA Managing Director of ARLA David Cox links the findings to the Chancellor s Autumn Statement in which a 3 Stamp Duty Land Tax SDLT surcharge on buy to let properties and second homes was announced as coming into effect from April 2016 When the rabbit was first pulled out of the hat we said these changes would be catastrophic for the rental sector and this has been echoed by letting agents across the country said David Cox The new stamp duty increases will make owning a buy to let unprofitable for a lot of landlords and certainly make new investors think twice about purchasing a buy to let property Between October and November this year the supply of rental properties increased by 9 climbing from 173 to 189 properties managed by letting agents However the figures for London paint a different picture ARLA manages just 121 properties per branch in London 36 less than the UK average In October 23 of letting agents reported rent increases for tenants the lowest figure this year It s promising to see that the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/40pc-of-letting-agents-predict-fall-in-rental-supply/ (2016-02-16)
    Open archived version from archive


  • RICS predicts house prices will climb 6% in 2016 | Mortgages for Business
    a 6 rise in house prices over the course of next year stating that the likely rise in prices will outstrip any increase in household income Housing has become a focal point on the Government s agenda of late however the lag attached to the raft of initiatives announced over the past year will mean that house prices as well as rents are likely to rise over the next twelve months according to the RICS Simon Rubinsohn Chief Economist RICS said Although housing has climbed the policy agenda with supply issues dominating the private housing market our forecast suggests that the likely increase in prices in 2016 will outstrip any rise in household income The RICS cites the lack of stock as the principle driver of this trend saying that the likely persistence of cheap money will compound it for the time being Turning to new build the institute believes that there is reason to take a more optimistic view given the notable incentives to deliver starter homes This it feels could help to slow the rate of growth to something closer to the likely rise in household incomes But the RICS s main concern with the measures introduced by the government is that they are overly focused on promoting home ownership at the expense of other tenures Simon Rubinsohn added Discouraging buy to let could see private rents take even more of the strain if institutional investment doesn t increase significantly particularly given the likely reduced flows of social rent property going forward Regional variations in the UK housing market are predicted to stay on trend with East Anglia set to see an 8 rise in prices The North East is forecast to experience more modest increases in 2016 with the RICS predicting a 3 rise in the region

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/rics-predicts-house-prices-will-climb-6-in-2016/ (2016-02-16)
    Open archived version from archive

  • Diary of a Buy to Let Purchase Part 7 - Reality bites… | Mortgages for Business
    The fact that I have been given two years FEES FREE banking had NOTHING remotely to do with my change in attitude Crikey had he thrown in a Nathaniel pig I may have proposed to him then and there So the good news is that the bank account palaver is now off my desk until what I imagine will be the New Year and there is nothing I can do about it Huzzah Buy to let mortgage application progressing nicely I also spoke to Paragon to run through a validation call Now this is not normal for most lenders but something Paragon like to do A very painless conversation took just a few moments They asked some very straight questions I gave answers and that was that another tick on the list of things to do So for the mortgage application until I get the bank account set up I can t do any more Aron at NatWest we are now all waiting on you dear no pressure Letting agents To use or not to use that is the question I also had a very interesting conversation with a landlord client today where we discussed the merits of using a letting agent This is something I am very torn on The letting agents in my neck of the woods charge 10 management fees They also charge a finder s fee to get the tenant in my property comes with a tenant in situ but apparently they will still charge me for this service this is a row for another day My client doesn t use agents as he feels that it s a waste of money but instead manages his properties directly He is a member of the National Landlords Association and pays an annual fee of 75 Here he can get ASTs legal advice he has always found them to be excellent and there are also services where the property can be advertised very cheaply a whopping 12 to be listed on Rightmove and a tenant vetting service is on offer And here we go back to my lazy streak for the gazillionth time Of course saving costs wherever possible is attractive but do I really have the time read can I be arsed to do this myself It dawned on me today that I am actually probably going to have a buy to let property at some point in the not too distant future and will need to start giving some thought to this sort of stuff My client started talking about deposit bonds smoke detectors Landlord Accreditation I will admit it I started feeling a bit panicky Thankfully my solicitor has sent me paperwork equivalent to that of the Encyclopaedia Britannica to read through so I can delay worrying about the realities of actually being a landlord for a few more days at least Diary of a Buy to Let Purchase 2 12 2015 Part 1 It was that or a Range Rover 4 12 2015 Part

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/diary-of-a-buy-to-let-purchase-part-7-reality-bites/ (2016-02-16)
    Open archived version from archive

  • CML forecasts healthy housing and mortgage market for 2016 | Mortgages for Business
    Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight CML forecasts healthy housing and mortgage market for 2016 21 12 15 Written by Andy Elley The Council of Mortgage Lenders CML expects a benign domestic backdrop to help underpin gentle improvement in housing and mortgage market activity in 2016 and 2017 In its latest forecasts for the two years ahead the CML predicts gentle improvement in housing and mortgage market activity although states that this will be limited due to affordability pressures and new supply challenges As for gross lending the CML anticipates that this will be supported by house purchase activity from home owners and remortgage activity across the board While the government s new housing initiatives may progressively increase the CML believes that they will be slow to take effect through 2016 and 2017 and states that there is only limited upside potential for housing sales over the next two years as a result of affordability pressures and new supply challenges As previously reported the CML s Market Commentary highlights that buy to let faces a challenging time ahead due to changes in tax and potential macroprudential intervention from the Financial Policy Committee both which will adversely impact the sector over the next two years The council believes that buy to let house purchase activity may peak in 2015 and then fall to below 2014 levels by 2017 Turning to the potential rise in interest rates the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/cml-forecasts-healthy-housing-and-mortgage-market-for-2016/ (2016-02-16)
    Open archived version from archive

  • CML warns policymakers of potential risks to private rented sector | Mortgages for Business
    further intervention from policymakers and predicts that buy to let market activity will fall in 2016 and 2017 In response to the consultation launched by the Bank of England this week regarding the potential powers of direction the Financial Policy Committee FPC should have over the buy to let market the CML urged caution Paul Smee director general CML said We understand the rationale for putting the macroprudential tools at the Bank of England s disposal but also recognise that this does not necessarily mean they will be used In our view buy to let does not constitute a market that currently requires further macroprudential intervention especially as the effect of several recent tax changes is yet to be fully felt and evaluated We urge policymakers to be mindful of the risk of unintended consequences that could adversely affect the private rented sector alongside their focus on ensuring that the buy to let market does not pose a threat to financial stability In its report Market Commentary 2016 and 2017 also published this week the CML warns that buy to let faces a challenging period as changes to tax treatment and the prospect of macro prudential intervention run counter to otherwise strong fundamentals Buy to let house purchase activity in 2015 may peak and fall away below 2014 levels by 2017 The uncertainty surrounding buy to let is said to stem from the incoming tax changes from 2017 the recently announced stamp duty changes and the possibility of macro prudential regulations by the FPC The effects of which the CML believes will negatively impact the rate of growth in the sector and cause lending volumes to ease back The CML also noted in its report that while buy to let borrowers may be more vulnerable than owner occupiers to unexpected

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/cml-warns-policymakers-of-potential-risks-to-private-rented-sector/ (2016-02-16)
    Open archived version from archive

  • Foundation Homes Loans revises offering to benefit limited company landlords | Mortgages for Business
    Paul Martins Foundation Home Loans FHL has simplified its buy to let products and criteria and has introduced a new limited company proposition which will be offered alongside their core range at no additional interest rate premium In a statement Foundation Home Loans says that regardless of whether they are buying through a limited company or in their own name landlords should not be expected to pay a higher interest rate than for a standard buy to let purchase or remortgage The lender s new limited company proposition will also be available to first time landlords As part of the overhaul FHL has cut its minimum valuation to 75 000 and has introduced fixed end dates for fixed rate mortgages An arrangement fee of 1 999 for all loans under 250 000 and 2 over 250 000 has also been introduced by the lender Simon Bayley commercial director at Foundation Home Loans said There is going to be plenty of interest in 2016 from landlords considering the best way to reduce their tax exposure using a limited company approach After our initial pilot we didn t feel that pricing such a product at a premium was fair Adding first time landlords to our limited company range shows we believe landlords should be able to chose the best set up that suits their circumstances and not be restricted to by the lenders Apart from an additional fee due to the extra complexity of underwriting limited company SPV s we want brokers and their landlord clients to feel that there is a lender offering choice without charging a premium He added We have reduced our minimum property valuation allowing our introducers to target landlords looking at property away from the South East where the income to investment ratio becomes more viable Also

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/december-2015/foundation-homes-loans-revises-offering-to-benefit-limited-company-landlords/ (2016-02-16)
    Open archived version from archive





web-archive-uk.com, 2018-01-21