RAFTERS ASSOCIATES FINANCIAL MANAGEMENT LTD
Property and Mortgages
Property and Mortgages
Whether you are buying a home to occupy or to let, the mortgage finance will be crucial to the success of your purchase. The UK mortgage market is the most sophisticated and innovative in Europe, with a huge range of choices to suit all kinds of needs and circumstances.
Property has proved to be a very profitable investment for many people, but it is important to understand that there are risks. Property values have been known to go down both across the board – as in the early 90s and in the wake of the 2007 financial crisis. Prices can also drop in particular areas, perhaps as result of regional economic problems or local planning decisions. Paying too high a price or borrowing too much can both be dangerous, especially if the property boom slows down or stops. So it is important to diversify and to be fully aware of the possible downsides.
We can help with your strategic financial planning in terms of both the proportion of your wealth you should hold in property and the way you should finance the purchases.
Taxation of property
You may have been lucky enough to inherit rental property or be in the position to purchase property outright. However, buying-to-let is the usual way of becoming a landlord, and it is an attractive proposition for anyone who can raise a deposit. However, recent tax changes and tighter lending rules have had a major negative impact on the buy-to-let market.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The precise amount will depend on your circumstances and/or amount of borrowing. We will notify you of any costs before any advice is provided.
Levels and bases of, and reliefs from, taxation are subject to change and their value depends on individual circumstances.
This publication is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority (FCA) does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Scheme. This publication represents our understanding of law and HM Revenue & Customs practice as at 31 January 2019.