Money Box Live: Buy to Let

Money Box

BBC

Business

4.2 • 825 Ratings

🗓️ 28 June 2017

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Louise Cooper would like to hear your views, experiences and questions about being a buy to let landlord. Call 03700 100 444 between 1pm and 3.30pm on Wednesday 28 June or e-mail moneybox@bbc.co.uk now. Standard geographic charges from landlines and mobiles will apply.

The end of mortgage interest relief, the loss of the so called wear and tear allowance and additional stamp duty charges on new property purchases may mean that landlords have to rethink their financial plans. Some landlords are being encouraged to set up a limited company to avoid the charges but how does it work and could it end up costing you more?

Stricter mortgage affordability assessments will also apply to landlords who own four or more properties from September 2017, limiting the overall amount you can borrow.

And what are the rules about tax and mortgages if you're a landlord thinking of letting a property through Airbnb?

Joining Louise Cooper to talk through the business of buy to let will be:

Carolyn Uphill, Chairman, National Landlords Association. Anil Mohanlal , Chartered Accountant and Managing Partner, Kumar & Co. David Hollingworth, from Mortgage Broker London and Country.

We'd love to hear your ideas. Call 03700 100 444 between 1pm and 3.30pm on Wednesday 28 June. Standard geographic charges from landlines and mobiles will apply. Or e-mail moneybox@bbc.co.uk with your thoughts and experiences.

Presenter: Louise Cooper Producer: Diane Richardson Editor: Andrew Smith.

Transcript

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0:00.0	In Northern Ireland, from the late 70s to the early 90s, the IRA killed over 40 alleged informers.
0:08.0	But the man who often found, tortured and sometimes killed these people on behalf of the IRA
0:12.0	was himself an informer, a secret British army agent with the codename Stakeknife.
0:18.0	Who gets to play God? And why me? Why my family? When lies are still being told to this day,
0:24.0	who do you believe? I wouldn't even know where to start and I'm with the IRA.
0:28.5	Steakknife. Listen first on BBC Sounds.
0:32.9	Welcome to the download of Moneybox today, Wednesday the 28th of June on Buy to Lett.
0:39.8	Good afternoon. This week, Moneybox Live is all about buy to let. Recent tax changes have made buying a property to rent out a much riskier and less profitable investment.
0:51.5	And that impacts on the estimated 2.3 million private landlords in the UK,
0:57.5	most of which own just one or a couple of Baita Let properties.
1:01.7	So if you are a private landlord, we would love to hear from you.
1:05.0	If you're considering Bitalet, what do you want to know?
1:08.8	Why not call Moneybox Live now on 0-3700-100-444? Geographic charges apply.
1:17.4	Email us, Moneybox at BBC.co.com or tweet us at Moneybox. We have a tax advisor, a mortgage broker and the chair of the National Landlords Association to answer your questions and unpick some of the financial issues.
1:33.8	But before we hear from our experts, let's hear from a wannabe landlady.
1:38.5	My name is Michelle Ceramican. I'm a neuro psychologist.
1:41.9	Now, you are not a buy-to-let landlord and you are considering it.
1:45.1	That's right.
1:46.0	I had come into a little bit of money and I was trying to work out where the best place would be to invest that.
1:53.8	And, you know, the interest rate's so low at the moment.
1:57.0	And do you have a public sector pension?
1:59.0	Do you have a hospital, NHS pension?
	...

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