Daily Mail - How to slash your mortgage: Keeping cost of repayments as low as possible is key to staying on top of your finances
Buy-to-let investors might do well to bag cheap rates now to offset the incoming tax hikes.
Currently, they enjoy a tax break of up to 45 per cent on mortgage interest. However, from April 2017 full tax relief will be removed.
By 2020, landlords will be able to offset mortgage interest only at the basic rate of tax at 20 per cent.
The cuts may seem only to affect higher-rate taxpayers, but some basic-rate taxpayers will also be hit if they are pushed into the higher-rate tax bracket.
Aaron Strutt, of Trinity Financial, says: ‘There is a ten-year fixed-rate loan available to landlords from The Mortgage Works — a specialist lender owned by Nationwide.’
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