In the recent budget, the Chancellor, George Osborne, announced a number of measures, which may affect the property industry. The Chancellor confirmed that 3% stamp duty surcharge on the purchase of second homes and buy-to-let properties will go-ahead as planned.
He also announced that larger investors would not be exempt from the stamp duty changes - meaning all purchasers of buy-to-let properties will pay the additional tax.
Whilst the prospect of paying more tax was never going to be welcomed, with forecasts indicating up to 25% growth in property values over the next 4-5 years, it is thought that most investors will take the view that the additional 3% represents around seven months capital growth and simply factor this into their business plan.
Whether you are looking to invest in property for the first time or add properties to an already established portfolio, Reades Residential can offer professional advice and a tailored service to suit your requirements.
to get in touch or call:
Hawarden Branch - 01244 537 537
Mold Branch - 01352 870 870