Related topic: Landlords

The Chancellor has announced an increase tax on rental income for landlords.

In H1, landlords who remortgaged buy-to-let properties withdrew £1.94 billion to fund portfolio expansion.

ICRRs for five-year or longer remortgage products have been reduced to 4.75% or product rate plus 0.35%

Two new Premier products were launched last week, including a two-year fixed remortgage at 4.49%.

All 2-year fixed BTL rates have been reduced by 10bps to a new low of 3.14%.

The new holiday-let products are available for individual and portfolio landlords across England, Scotland, and Wales.

FHL has cut its two- and five-year fixed rate holiday let products by 0.10%, bringing five-year fixes down to 6.24%.

2-year fixed rate remortgages are now available at 4.49%, max 75% LTV, with a 2% fee.

Two-year rates are available at 3.14% for HMOs and MUFBs with seven to 12 bedrooms or units.

Extending the 8% charge to rental earnings could generate in the region of £2bn.