Hammond tightens buy to let lending for investors - See our Bond offer
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Hammond to tighten lending for Buy to Let Investors

Hammond to tighten lending for Buy to Let Investors

One year after Former Chancellor George Osborne removed landlords’ ability to deduct the cost of their mortgage interest from their rental income, Philip Hammond has imposed new rules on buy-to-let properties setting tight limits on the amount that can be borrowed for an investment property.  The so-called ‘affordability checks’ will see buy-to-let investors having to prove they can make 25% net rental profit.  Investors will also be subject to more detailed background checks in relation to personal income and expenditure.  Lenders are also now required to account for market expectations in relation to interest rates during the first 5 years and will need to have the checks in place by 1st January 2017. 

At Nova Prime we offer a variety of investment opportunities such a property bonds for high yield investments with asset backed corporate bonds for the best bond to secure your investment in the development of your property.

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