Chancellor sees buy to let as key to property market

Landlord Expert
By Landlord Expert March 25, 2011 10:42

The British Coalition Government announced that buy to let is the best way to solve the housing shortage problem in the country. Moreover, it will allow to attract investment to UK property sector.

What is more, the Chancellor believes that should buy to let sector see active expansion, property developers will resume homebuilding.

The UK Government proposed changing the way stamp duty tax is calculated on bulk property purchases. It wants the tax to be calculated by the average value of the properties instead of the bulk value, which will significantly reduce the costs for property investors.

In the opinion of experts at Royal Institution of Chartered Surveyors, the Government's initiative will "provide a revolution in how rented homes are supplied."

Mr. Fletcher of the British Property Federation, said that "it will provide an important boost for the private rented sector and we hope will tip the balance in encouraging institutional funds into building homes."

Both, RICS and BPF, have been calling upon these changes for many years.

Landlord Expert
By Landlord Expert March 25, 2011 10:42

Membership Login

Register| Forgot Password?


Recent Member Comments

  • User AvatarDave Osbourne { Had a blocked gully which tenant ignored after recent rain had the lounge and hall partly flooded the floor is going to be replaced but... } – Oct 16, 4:47 PM
  • User AvatarFiona Bullock { Dear Sir, I have received a text and email from my tenants saying they wish to end their tenancy of 3 years with effect from... } – Jul 05, 12:55 PM
  • User Avatarchristine clare timmins { Hi Rahima - Did you manage to resolve your problem? I am new to this site and saw your dilemma - we are about to... } – Jun 28, 9:12 PM
  • User AvatarShani Zvi { Hey, I need an advise regarding the TDS registration. The agency I'm working with claims that they need to register the tenant Zero Deposit scheme... } – Jun 04, 11:43 AM
  • Amanda Harrison { Advise needed }
  • Older »

News Archive