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More landlords in buy-to-let arrears

The number of landlords who have fallen significantly behind on their mortgage repayments rose 20% in the last year, according to data published by UK Finance.

In Q4 2017, there were 5,100 buy-to-let mortgages in arrears of 2.5% or more of the outstanding balance, representing an increase of 2% since Q4 2016.

However, a fifth of that total had fallen into more significant arrears, of 10% or more of the outstanding balance.

Overall, 600 buy-to-let mortgaged properties were taken into possession in Q4 2017 - the same number as Q4 2016.

In comparison, the figures suggested more positive news for homeowners.

The number of homeowner mortgages in arrears saw a 7% decline, and repossessions dropped by 8%, to 1,100.

Paul Smee, head of mortgages at UK Finance, said:

"All potential borrowers are carefully assessed against their ability to pay back their loans, and lenders work closely with their customers to ensure any payment issues are dealt with at an early stage.

"Anyone experiencing difficulty with their mortgage should contact their provider immediately."

Get in touch to discuss your property.

Why Clients Choose Easy Accountancy

Easy Accountancy offers a low cost, fixed fee accountancy package with all clients receiving their own dedicated, friendly, approachable accountant.

All of our accountants specialise in providing accountancy services to the self-employed, freelancers, sole traders, small to medium sized limited companies and private individuals. All accountants are employees of Easy Accountancy and we never outsource or offshore work.

Our low cost, all-inclusive fixed-fee accountancy service includes unlimited access to your own dedicated accountant throughout the year and covers all your business and personal tax affairs needs.

All our accountancy services include:
  - Unlimited access to your accountant
  - Ongoing advice on how to manage your business
  - Proactive tax advice throughout the year
  - Updates and reminders so you'll never miss a deadline
  - Free bookkeeping software

As a sole trader our fees start at just £60 + VAT a month, for this you receive the above plus:
  - Completion of your Self-Assessment tax return
  - Advice on how much Income Tax to pay
  - Guidance on National Insurance contributions

As a limited company our fixed fee packages are bespoke to your needs, however typically you’ll receive the above, plus:
  - Completion of your year end accounts*
  - Completion and submission of your annual return Companies House
  - The director/s Self Assessment tax return
  - Payroll bureau
  - Dividends and corporation tax computations

We’ve saved our clients up to half on their accountancy bills – if you’d like a quote, click on the quote me button to the right of this page. Alternatively, call us on 01442 275767 or email newbusiness@easyaccountancy.co.uk.

*If you would like us to complete your company year end accounts we simply ask that you have been a client of Easy Accountancy for one year or have made 12 monthly payments.