There has been a lot of discussion about this issue. Starting from April 2017, and phased in over the next four years, landlords will receive less tax relief on the interest part of their buy to let mortgage. Landlords will no longer be able to deduct all of their finance costs from their property income and so their profits may reduce as a result of this change. If you haven't already, it would be good advice to discuss with your accountant how these changes may affect you.
Whilst this is a short-term cash flow issue, it is also an investment issue. The bigger picture of being a landlord is the significant capital growth of a sizeable asset. Whilst it's always unwise to make predictions, Oxfordshire has consistently proved over time to be a great place for long term property investment. With Oxford University and many other highly regarded education establishments, our science and technology parks, our hospitals and related businesses and our tourism industry all continue to make Oxfordshire an attractive place to live and work. The resultant high demand for housing from professional couples and working families makes Oxfordshire a great place to invest in property.
For peace of mind, Nicholas Jones Residential would be delighted to offer landlords a free sales valuation. In most cases, we anticipate that this will set your mind at rest that your property value is continuing to grow faster than the increased costs of being a landlord and that your decision to be a landlord in Oxfordshire continues to be a sound investment.