Adrian Moloney | 19.07.2020
Whether your clients are first-time buyers struggling to get on the housing ladder, an existing homeowner, or even a buy to let landlord, COVID-19 has halted many people’s plans in 2020.
However, there is some positive news, as the Government recently announced that stamp duty in England won’t be paid on the first £500k of a property’s value until 31 March 2021.
This is no doubt welcome news for the housing industry and your clients, who can take advantage of this benefit. Plus, even with the applicable surcharge on buy to let properties, landlords all over the country will still reap the rewards.
Good news all round…
However, we understand that the current situation may have left your clients with more questions than answers. They may be concerned about how being in receipt of furlough payments will affect them, or if they qualify for a mortgage being self-employed. Or they may have a less than perfect credit score.
The good news is that Kent Reliance for Intermediaries is experienced with ‘odd’ cases like these that don’t fit the criteria of most mainstream lenders, and are here to support your clients through these difficult times.
Discover how our individual approach to assessing cases can help your clients.
“Reports of my death have been greatly exaggerated,” wrote author Mark Twain, having read his own obituary in the New York Journal in 1897. Parallels might be drawn with recent national press coverage of the buy to let sector. The publication of the white paper on ‘a fairer private rented sector’ on 16 June has fuelled speculation in some quarters that the government has PRS landlords in its sights - again - and that a combination of further regulation and rising interest rates is set to make buy to let investment unprofitable, spurring a widespread sell-off of rental property and killing off the sector as we know it.
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