Landlords who have already been hit with higher taxes face further shocks as a new swathe of mortgage regulations kick in this weekend.
The rules, ordered by the Bank of England, must be in force by October and apply to portfolio landlords — those with four or more properties. They are the latest blow to landlords, who have found it increasingly hard to borrow money, and have led to calls for the government to soften its sustained assault on the buy-to-let sector.
Portfolio borrowers will have more hoops to jump through
David Smith, the policy director at the Residential Landlords Association, says: “We asked the Treasury to consider a positive tax change for landlords, but we’re not hopeful. It is very hard to avoid the conclusion that the Treasury thinks that landlords are easy…