LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Buy To Let tax blow delivered by George Osborne

Buy To Let tax blow delivered by George Osborne

He says the measure, which will address "unfairnesses in property taxation", will be phased out "gradually" from 2017.

"Buy-to-let landlords have a huge advantage in the market as they can offset their mortgage interest payments against their income, whereas homebuyers cannot. And the better-off the landlord, the more tax relief they get. For the wealthiest, every pound of mortgage interest costs they incur, they get 45p back from the taxpayer†Osborne told MPs. 

"All this has contributed to the rapid growth in buy-to-let properties, which now account for over 15% of new mortgages, something the Bank of England warned us last week could pose a risk to our financial stability. So we will act . but we will act in a proportionate and gradual way, because I know that many hardworking people who've saved and invested in property depend on the rental income they get" he said.

This will certainly be interesting to watch over the next few months and we will keep you up-to-date as things develop.