Was Buy to Let worth it?


Although the number of buy to let mortgages awarded in 2019 are in a decline there were back in 2007 there were 183,000 given out (according to this is money article).  Are you still left with your buy to let mortgage and no way of repaying the outstanding mortgage due to being in negative equity?

Buy To Let Landlords:

One of the main reasons for the large number of buy to let mortgages back in 2007 was due to the number of people purchasing additional properties for the purpose of renting them out.  The plan was that the rent would cover the repayments of the buy to let (usually interest only) mortgage and then with the expected increase in property prices that in a couple of years they could sell on the property for a profit and repay the mortgage in full.  After the crash in 2008 we still find ourselves in 2019 still in a situation that the house prices are not at their 2007/08 levels.

In 2013 the property and financial expertise of the two directors of CD Fairfield Capital, Phil Davison & Tom Cardwell created Negative Equity UK with the sole purpose of helping out buy to let landlords who find themselves in a negative equity.  They now lead a team of over 20 staff with a wide variety of financial specialisms.  We are also the only negative equity company to be authorised and regulated by the FCA that can offer the widest range of debt solutions in the UK.

Our clients are at the core of our company values and by putting our clients first it has resulted in Negative Equity UK being the highest independently rated debt company with a NPS (net promoter score) of 90% and 4.88/5 star rating.

Landlord Tax (section 24):

With a 3% increase in stamp duty for property owners with more than one home that was introduced in 2016 and section 24 going to the third phase on the 6th April 2019 it means that higher-rate tax relief can only be applied to 25% of your mortgage interest costs. The remaining 75% will be at the basic rate.  In the final phase, which will be in effect by April 2021, landlords will only be able to claim tax relief at the basic rate of 20%.  Now is the time to do something about your buy to let property before you lose more money.

With the subdued housing picture across the UK (according to this Guardian article) continuing along with all of the uncertainty around Brexit now is the time to see how Negative Equity UK can help you get out of your Buy To Let nightmare.

All you have to do is call us today on 0161 660 4403.

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