ANNUAL ALLOWANCES – A CHECKLIST FOR THE TAX YEAR-END With the tax year-end fast approaching, it’s time to make the most of your annual allowances. Use your ISA allowance Think about topping up your tax-efficient savings. The maximum amount that can be saved into an ISA this tax year is £15,240, increasing to £20,000 from April. For Junior ISAs, the tax-free allowance is currently £4,080, increasing to £4,128 from April.
Buy to Let Mortgage Calculator
When you consider a Buy to Let mortgage, a lender will typically ask for the mortgage to be self funding at a given rate plus a margin of 125% through to 150%, some lenders work at the Pay Rate (interest rate of the mortgage) and this varies from lender to lender and often in the products too, other lenders work on a minimum of 5% or 5.25% or higher in some occasions.
Working through this calculator is easy if you know how, but sometimes can be a little daunting if you are unaware of how percentages work etc. Use this handy calculator to see if the purchase you are considering stacks up on the proposed rent v’s mortgage payment.