2019 saw a number of key changes in the Mortgage market. Taxation on personally owned Buy To Let properties significantly impacted the market, with Buy To Let business down some 70%.
However, this created plenty of opportunities for the more savvy Investor to find the right property option and then use a Special Purpose Vehicle (SPV) to buy through a Limited company, where taxation is limited to standard corporation tax.
Overall Mortgage numbers were up on 2018, and our many loyal clients continued to come back to City Mortgage Solutions for their ongoing business.
We are proud to say that 60% of all our Business was from repeat customers in 2019.
Our team remains strong, with the average broker service currently around 8 years, enabling us to continue providing good quality, professional financial advice.
Now with Brexit underway, we expect the UK property market to stabilise as homeowners look to move for schools, job relocation and aspirational reasons. We are still seeing great deals on mortgages for homeowners.
We are confident that 2020 will continue to be another strong year for City Mortgage Solutions and I’d like to thank you for your support. We really wouldn’t be in the strong position we are without you.
Managing Director, City Mortgage Solutions