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Kevin Corish Profit Potential in the Buy-to-Let Industry

Kevin Corish discovered the profit potential in purchasing and developing land, something that he has done well for more than fifteen years. However, the buy-to-let industry is much tougher than it once was, explains Kevin Corish. A tax crackdown on buying property investments and a tax raid on a property owner's rental income has seen to that.

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Kevin Corish Profit Potential in the Buy-to-Let Industry

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  1. Kevin Corish: Profit Potential in the Buy- to-Let Industry Kevin Corish discovered the profit potential in purchasing and developing land, something that he has done well for more than fifteen years. However, the buy-to-let industry is much tougher than it once was, explains Kevin Corish. A tax crackdown on buying property investments and a tax raid on a property owner's rental income has seen to that. However, for many Britons the idea of investing in property is still appealing, as they trust bricks and mortar and may feel that they can add value to a home in a way they cannot to an investment fund. In fact, a world of low interest rates helps polish the attraction of buy-to-let properties. In addition, a return on savings is low and mortgages are cheap. However, interest rates are expected to rise and the 3 percent stamp duty surcharge eats a large amount of your money, while the loss of full mortgage interest tax relief has eaten into returns.

  2. For example, if you buy a £250,000 home and you lose £5,500 in tax on stamp duty, then your rental revenue will now be taxed (not your profit). Nonetheless, buy-to-let remains popular, so if you are considering it or are existing property owners looking to up your game, Kevin Corish believes that now might be the best time to get into the industry.

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