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Why You Shouldn’t Be Worried About The Stamp Duty Rise In April

09 February 2016



 

 

  • Stamp Duty to increase by 3% in April 2016

 

  • Landlords believe the rise will "dampen the let-to-buy" industry

 

  • A rapid growth in let-to-buy sales has been seen since the Chancellor announced the news

From April 2016, the government will be introducing a 3% rise in stamp duty fees which has caused quite a controversy in the world of real estate. 

 

A spokesperson from an accountancy firm stated

"it is going to create uncertainty, introduce many anomalies and take a long time to fully bed-down.”

 

Chancellor George Osborne announced that the new additional 3% stamp duty rate will apply to landlords and second home owners as part of the government’s plan to boost home ownership. From April, buy-to-let investors will be required to pay 3% more in stamp duty charges than residential buyers looking to purchase the same home. 

 

Whilst various landlords believe that this will “dampen the buy-to-let market”, it appears that the market has never been in higher demand. According to the latest UK Residential Market Survey, there has been a jump in buy-to-let sales causing the first rise in new instructions since the beginning of 2015. 

 

The recent announcement by the Chancellor in the Autumn Statement last November has not only influenced buy-to-let sales, but has also positively impacted the general housing market. Statistics show that the housing market is on a three-month high. 

 

Use the diagram below to find out how or if the stamp duty rise will effect you:

 

(THISISMONEY.CO.UK)

 

 

To avoid the stamp duty rise, visit our comprehensive list of agents who can help you buy or sell a property which works around you. Just simply type in your postcode to find your agent today.

 

www.agent-tracker.co.uk

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