What effect has the buy to let mortgage interest tax changes on expenses for tax payers affected rental cover buy to let mortgages?
The amount of Income Tax relief some landlords can get on residential property finance costs started to be restricted (in part) to a basic rate tax credit from 6 April 2017. This is being gradually phased in from April 2017 through to April 2020.
Impact on Rental Cover Requirements
Many Buy to Let Mortages now require rental cover (i.e. rent to be a % of the mortgage % to cover to loan) of