This article brings an interesting perspective on the impact of the SDLT increases that are due to come into effect at the end of the month for the purchase of second homes.
Certainly informal feedback from our clients would seem to suggest that the changes won’t stop them buying investment properties… they’ll just be re-working their initial budgets.
Whilst we’re still working frantically to get completions done before month end we’re also looking forward to what the Chancellor has to say in the Budget tomorrow about the various points of concern that have been raised since November…. it will be quite a challenge to address them all!
The extra 3% stamp duty for second homes will fail to have the intended effect of deterring prospective buy-to-let investors, according to analysis from national estate agent Jackson-Stops & Staff.
This is because house price inflation - within a year or less - will more than compensate the majority of investors for their entire stamp duty bill, the analysis has found.
There has been a rush of buy-to-let registrations in the run up to 1 April, which experts anticipate will be followed by a post-Budget slump.