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Buy to Let Mortgage Calculator

Our helpful calculator can help you estimate your monthly mortgage payment and how much you can borrow.

The top 10 Allowable expenses against rental income plus 32 more

If you're letting property see our list of the top 10 allowable property expenses and find out what the other 32 expenses are. Make sure you're claiming for all the allowable costs you're allowed.
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Stamp Duty : Your Top 30 questions answered

Stamp Duty has become one of the most complex and misinterpreted taxes on property, so we've put together a list of the top 30 questions we get asked on this. If you're still struggling book a consulation with us and we'll provide you bespoke tax guidance on this tricky tax.
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Limited Company v Personal Ownership. Which one is right for you?

It's one of the most common questions we get asked. The answer depends on a number of factors such as whether you're a higher rate or lower rate taxpayer, do you want to pass on property wealth to children, do you live in the UK or overseas, how many properties and level of rental income are you planning to invest in etc. Getting the right advice is crucial and could save you £000's. Get in touch to arrange a personal assessment of which option is right for you.
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How a Deed of Trust can cut income tax for married couples by 50%

Many investors start out by buying rental property in joint names with their spouse. In such situations where one is a higher rate taxpayer and the other a lower rate taxpayer, the best outcome from a tax point of view is to have the rental income taxed on the lower earning spouse. By doing this the effective tax rate is kept at 20% and full tax relief can be obtained on mortgage interest payments. For more details on how this works please see the following:-
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Property Family Investment Companies - (FIC) What are FIC's and how do they reduce your Inheritance Tax and help pass on your property wealth to the next generation

Set up correctly, a Family Investment Company can provide an effective way for a family to pass on wealth to the next generation. The main benefits are a substantial reduction in inheritance tax whilst allowing the founding generation. i.e. you as parents, to retain control over the company, the tax free return of any funds you place in the company and access to the rental profits if required. For more details see the following:-
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The Let Property Campaign - A safe way for landlords who need to declare there rental income for previous years

The Let Property Campaign has been around for many years now and has been organised by HMRC in order to provide a long-standing disclosure opportunity for residential property landlords who need to update their tax affairs in order to avoid penalties and interest. For more details and how this works plesae see the following:-
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The following calculator and commentary are provided solely for informational purposes. Please note that this information may not be current or complete and that it may only apply to certain types of residential properties in the UK. It does not constitute any form of advice.
£
£
Amount you need to borrow £240,000

Interest only

£900

per month

Capital + interest

£1,333

per month

Total paid over term (interest only)

£270,000

Total paid over term (capital + interest)

£399,900

Interest-only payments cover interest only; the full loan amount is still owed at the end of the term. Capital and interest payments gradually pay off the loan, so the balance reaches zero by the end of the term. This is an estimate for comparison purposes, not a formal mortgage quote.

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Own your rental property in your personal name? We Do Your Tax Return in 3 Easy Steps from just £200+VAT.

Using a Limited Company? From just £590+VAT, We do all the book keeping, file your accounts with Companies House and HMRC and show you how to extract up to £800 per Director/Shareholder tax free.
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Do you know all 42 allowable expenses?
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Why are interest-only mortgages a common choice for buy-to-let properties?

To finance their investments, landlords typically choose interest-only Buy-to-Let mortgages because they are less expensive and are usually covered by rental income. Those with fixed-rate mortgage deals won’t see their rates change until their current offer expires, but those with tracked and variable rates may see their profits wiped out by their mortgage costs, which rise along with the base rate.

You may want to consider consolidation if you already have multiple buy-to-let mortgages as it may be possible to reduce the amount paid overall by consolidating multiple debts into one property loan. This is especially true if you have had a variety of interest rates on your previous loans. Your lending costs could be reduced as a result. You can discuss this in more detail with one of our specialist property accountants if you would like to find out what options are available to you.
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What happens at the end of an interest-only buy-to-let mortgage?

The original amount borrowed by the borrower must be repaid in full when the interest-only mortgage expires. In this type of mortgage, interest is paid monthly and the total loan repayment is deferred until the end. In most cases, a lender will contact you at least a year prior to the end of your term to remind you of the deadline, then again at 6 months, and then once more as the closing date approaches. The lender can then issue you a redemption statement, which confirms the specific amount to be repaid.

How much is the deposit for a buy-to-let
interest-only mortgage?

This can vary from lender to lender. Most lenders now require some form of deposit but the way they calculate how much they will lend is a factor of the rental income for the property and interest rates. Most BTL lenders operate on an interest cover formula. Typically they will require the rental income to cover anything from 125% to 140% of the interest payments.

If you have further questions feel free to talk to us about your landlord accountancy queries by getting in touch at 0800 907 8633, via tax@fixedfeetr.com or via our online contact form to speak to one of our specialist tax advisors.
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