2016 buy to let mortgages - move fast before rules change.
With the introduction of new EU mortgage guidelines in March next year, aspiring landlords wanting to enter the property investment market should get on and act without delay.
Changes to buy to let rules will make it harder for some to invest in property in the future.
Professional landlords will be exempt from rules changes are they are classed as running a property business and not in need of consumer protection. However accidental landlords or those looking to invest but not make property development their full time career will be impacted.
From next year buy to let mortgages for non-business applicants will be regulated, and as such applicants will have to jump through the same hoops as those looking for a residential mortgage.
It will get harder to be accepted for a deal unless you can pass lenders' more stringent affordability rules and financial stress tests.
To afford missing out on investing in property act now and secure yourself a mortgage for 2016.
If you would like independent mortgage advice call us at Deal Direct on 0800 048 8828.
We are regulated to offer advice on buy to let mortgages but we cannot advise you as to the suitability of property as an investment. For that advice you will need to speak to an IFA. Also note that at present not all BTL mortgages are regulated by the FCA.
For mortgage advice and a low rate quote,
call us on 0800 048 8828.
