Why buy to let (BTL)? Property is great for increasing your income

Buy-to-let properties mean guaranteed, sustainable income well into your later years. That’s why many contractors are putting their hard-earned savings to work by investing in the property market.

A buy-to-let investment could guarantee you a source of revenue when contracts are few and far between, or help you build up a hefty retirement income. Improved lending conditions and rising property prices mean this investment is ideal for contractors. You could even discover that the long term profit potential is life changing.

However, there are costs involved, so it’s important to ensure that you know how to get the maximum return on your purchase, buy Home Loan. Here we share some expert advice to show you how you can make the most out of the buy-to-let market and continue earning big money long after retirement.

Can I make money from buy-to-let? - Multiply your income now!

The buy-to-let market used to be available only to the privileged few. However, a combination of more innovative mortgage products and rising entrepreneurialism has seen many contractors successfully try their hand at becoming a landlord.

What is the stamp duty charge on buy-to-let?

Unfortunately, the buy-to-let boom hasn’t gone unnoticed by the Government, which has raised stamp duty land tax (SDLT) rates for additional property purchases.

What expenses can be offset against rental tax?

Rental tax is another outgoing you’ll need to be wary of, though it’s only due on the profit made from renting out the property.

How save tax on buy-to-let – find out how you can maximize your returns!

If you’re feeling adventurous, you might opt to run your property portfolio through a company. You can do this the same way you would open a contractor limited company, and there are potential tax advantages.

For one, companies are still able to offset mortgage interest against rental tax in full. In addition to this, rent is only taxed at the 20% corporation tax rate, regardless of your personal income. These two factors combined could result in huge cash savings.

Where can I get expert advice on property investment?

Entering the property market is admittedly more involved than simply investing in stocks or a pension fund, but it’s also ultimately far more rewarding? There are initial costs involved, but soon enough you’ll find that a buy-to-let property pays for itself.

[Source: http://www.contractorcalculator.co.uk/why_buy_let_property_great_increasing_your_income.aspx]