Build-To-Rent Needs The Personal Touch Too

The government’s crackdown on buy-to-let - extra stamp duty and reduced mortgage tax credit - initially seemed to be aimed at corporate investors. But this year’s Budget saw an unexpected U-turn from the chancellor, when he revealed the 3% stamp duty surcharge will also apply to large-scale investors - despite warnings on how it would affect the fledgling build-to-rent sector. However, the major fund managers don’t seem to be actually building for rent: indeed, many seem to have struggled to deploy capital. Some of the recently announced purchases appear to be residential developments many others have passed over, and cynics might suggest they’ve been bought just to use up the cash. Read more on Property Week.