Budget 2016 – Relevant Changes

Not much to report to be fair and any changes that effect the UK buy to let property market we were all ready aware of. There’s a quick summary below of the relevant property related points. The key bit for the buy to let property landlord and investor is the formal introduction of a 3% stamp duty charge which will be introduced from the 1st April. To repeat, this isn’t new news and merely embraced the huge overall investment in the UK housing market.

Stamp Duty

  • 98% of home buyers are paying less due to stamp duty reform.
  • The 3% surcharge on second homes and BTL properties will go ahead. 

​Housing and Planning

  • We are going to speed up the planning process.
  • New residential stamp duty rates will apply to larger developers and property buyers as well.
  • £150 million package announced to support the homeless.
  • High Speed III train between Manchester and Leeds has been given the green light.
  • More investment in the North to create the #NORTHERNPOWERHOUSE

If  you have any question please feel free to contact the office.

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