The March 2016 budget introduced higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties from 1 April 2016. If you are thinking about purchasing a Buy to Let/Investment property and are wondering how this will affect you, we have put together a few questions and answers to help you.
Why is SDLT being increased on Buy-to-Let homes?
With house prices rising, it is become increasingly difficult for first time buyers to get on the property ladder. The Buy-to-Let sector has been a controversial part of the property market for a long time, with people blaming landlords for the rising house prices. As such, George Osborne therefore turned his attention to private landlords in a bid to give first time buyers a chance to get on the property ladder. Read more