Le proposte pubblicate questa settimana dovrebbero entrare in vigore, se approvate, da marzo 2016. La nuova normativa é parte della European Union Mortgage Credit Directives.
New rules regulating buy to let for accidental landlords have been published by the Treasury. The rules form part of the European Union Mortgage Credit Directives. Buy to let will become a two-tier market: - Accidental landlords (who have lived in the buy to let home they are mortgaging) and - professional landlords must pledge not to live in a buy to let property, and if they buy for business purposes, will have affordability based on the current rent cover rules. The new rules are partly aimed at dealing with mortgage fraud termed ‘gaming’, which is when a homebuyer applies for a buy to let loan then moves into the property because they fail stricter residential mortgage affordability tests. The draft regulations still have to go before MPs for approval, and are expected to come into force in March 2016