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TODAY'S OTHER NEWS

Typical buy to let investor set to save almost £2k thanks to Sunak

The research department of Countrywide’s Hamptons International brand says the stamp duty holiday introduced yesterday on homes selling for £500,000 or less is likely to save the typical BTL investor approaching £2,000.

It says only one three per cent of investors buy about the £500,000 threshold, so most will benefit; and investors in London and the South East stand to gain the most in terms of hard cash.  

In the capital, where one in five landlords pay over £500,000 for an investment apartment or house, the average stamp duty bill for each of them will fall by £7,240, or 26 per cent.  

A landlord buying in the North East will see their average stamp duty bill fall to just £280.

“While these measures go some way to aid landlords in the amount of cash they need to find upfront to purchase a buy-to-let property, other tax changes and regulations introduced over the last few years will continue to weigh on the profitability of the sector” says Hamptons research chief Aneisha Beveridge.  

“However it might be enough to lure those investors teetering on the edge of whether to invest, particularly in London and the South.  In May, landlords purchased just four per cent of homes in Great Britain, a record low” she continues.

Chancellor Rishi Sunak’s stamp duty holiday, which continues until the end of March, retains the three per cent additional homes SDLT surcharge.

  • Barry X

    Rishi is a sadly deluded amateur.... and I expect he'll be heavily blamed by the government, and especially by Boris the stabber-in-the-back and betrayer (and not just of every woman that's ever been stupid enough to com into his life).....

    Can you imagine that the ONLY thing holding BTL investors from getting even deeper into the huge mess this government (and its predecessors) have made of our industry is a piffling couple of grand, when - for example - the ridiculous 3% "surcharge" has not even been temporarily suspended let alone abolished, and non of the blatantly anti-landlord "cumulative kisses of death" have been revoked?

    It would take a LOT MORE than this silly little token "incentive" (that anyhow is aimed at owner-occupier purchasers, certainly not us the afterthought hated landlords) to get me to commit any more to the UK's traumatised, fleeced, beaten and cringing BTL / PRS corner..... I want OUT not further in. The moment he gives us a complete CGT "holiday" we'll be OFF!!!!!!!!!

    What a fool he is - this woefully inexperienced spend/borrow/print-money/give-away/bribe and burn chancellor, but we'll see....... personally I'd have been more impressed if he'd lowered taxes significantly and done all he could to encourage real business activity than just pay people for not working and give away silly trinkets that aren't worth that much to anyone individually but in total cost the country a spectacular amount of money the country doesn't have..... all done in the hope that people might remember (they won't) or be grateful (they won't) and so vote for Tories (now anyhow a sort of New Labour) forever (they certainly won't).

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