George Osborne’s decision to raise stamp duty for
buy-to-let landlords will cost tenants an extra £55 a month in rent. Buy-to-let
is on the rise. Lending to landlords was higher in the first nine months of
2015 than in any of the last six years. Rather than dampening the buy-to-let
market and free up housing for first time buyers, the increased rent will make
it harder to save for a deposit as tenants face higher monthly rent, mortgage
lenders have warned. Landlords will also face greater tax on the profits from
their properties from April 2017, with minimum tax relief dropping from 45 or
40 per cent to just 20 per cent. Read more on the Independent website.
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