Stamp Duty changes & Buy to Let Opportunities

The Government announced a temporary cut to stamp duty in the summer statement, meaning that from 8 July 2020, anyone purchasing a property in England and Northern Ireland will find that the threshold for paying Stamp Duty Land Tax (SDLT) has increased from £125,000 to apply to properties of £500,000 or more, on deals finalised before 31 March 2021.

The government estimates that “nearly nine out of ten people buying a main home this year will pay no stamp duty at all.” Landlords purchasing buy-to-let properties in England and Northern Ireland can benefit from this temporary change but will still pay the 3% surcharge on properties costing up to £500,000. The potential cost saving from the stamp duty cut may prove tempting for landlords considering entering the rental market, or expanding their portfolio - an influx at just the right time to meet the current strong demand in the rental market.

With this in mind we have scoured the market to find six properties which may be of interest to those of you looking to take advantage of this.....

Additionally if you find something else and would like us to run our eye over and give lettings advice please do call us for a chat on 01202 554470.