Industry body launches buy-to-let CPD events

Industry body launches buy-to-let CPD events

The Society of Mortgage Professionals will deliver a CPD event programme dedicated to buy-to-let in light of the sector’s recent changes.

Former Chancellor George Osborne introduced a number of measures which will impact buy-to-let mortgages, including a 3 per cent premium on stamp duty for second homes and restricting the amount of tax relief a landlord will be able to claim on mortgage interest to the basic rate.

The SMP’s campaign will begin in October with a series of five regional roadshows including a session on complex buy-to-let and how to cater for the needs of portfolio landlords, delivered by Connect for Intermediaries chief executive Liz Syms.

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There will also be a webinar on 26 October featuring Legal and General Mortgage Club director Jeremy Duncombe, who will provide an overview of the current state of the buy-to-let market, followed by a briefing by David Kilshaw, tax partner at Ernst & Young’s private client group.

To complete its buy-to-let focus the society has confirmed three specialist workshops: in London on 25 October, Leeds on 27 October and Birmingham on 28 October.

Topics covered will include the buy-to-let landscape, taxation rules and the calculations involved and the likely impact of all the buy-to-let changes on first-time buyers as well as other areas that are of interest to advisers.

Society of Mortgage Professionals head of professional development Lee Travis said: “Buy-to-let has gone through some very significant changes this year and we do not think we have seen the last of them.

“From 2017, higher and additional rate tax-paying landlords will no longer be able to claim full tax relief on the interest payments made on their BTL mortgage.

“Although this will be a phased adjustment and not fully implemented until 2020, it is vital that advisers are aware of what’s on the horizon, as advice given now could have huge ramifications on a client’s future tax position.”

The five regional roadshows begin at Haydock Racecourse on Tuesday 4 October, followed by East Midlands on Wednesday 5 October, Southampton on Thursday 6 October, London on Monday 10 October and Belfast on Tuesday 11 October.