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Is Buy to Let worth considering

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Hi All, 


This is my first post here with you guys, I have a serious dilemma that is slowing me from making my first property buy I have good deposit and my mortgage broker can secure me a by to let mortgage. 


I talked to property agents and rental demands is high where I am looking but however there are not many properties to rent! Reason being the new taxing rules changes. 


I am employed and have a decent paying job; which means any rental I get from a property would be taxed at a 40% rate which means a good yield would just cover the mortgage and interest repayments with hardly any monthly profit. 


Do you guys think BTL is a bad option now with tax changes if you have a good paying job? Do you suggest different approach to BTL with the new Tax laws?

Your help is appreciated. 



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  • 1 month later...

Damien is right.


I am in the exact same situation and don't want double taxation but my strategy is to not live of the income so I do think a Ltd company is the way for me as dividends will suffice short term.


When I was looking at interest rates on PropertyHawk; personal vs limited company there was a big difference.  Personal around 1% and 3% for Ltd companies.


One property I want to switch to a repayment and with those rough figures I think Ill keep that one outside a company, but need confirmation.


I've been recommended an accountant by someone and if it goes well I will pass on their details.

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