HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
Related Articles
STAMP DUTY HOLIDAY FOR PROPERTIES COSTING UP TO £500,000 AND COMPLETED BEFORE APRIL, 2021 IN ENGLAND
The government has temporarily increased the stamp duty threshold to £500,000 for property sales in England and Northern Ireland. First-time buyers will not be taxed if the property is costing £500,000 or less and the legal transaction is being completed before April 2021, more expensive properties will only be taxed on their value above that amount.
Amid the uncertainty of Brexit and increasing tax burdens for landlords, 2018 may be the year for rental investors to branch out beyond the obvious in the North of England.
Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to keep the property market firing as Britain emerges from lockdown.
Tourists from Hong Kong and mainland China have started a trend. As London becomes too costly, Manchester – beneficiary of “northshoring” – has emerged as an attractive destination.
The Bank of England has made an emergency cut to interest rates and incentivised banks to lend more in a wider package of measures designed to counter the shock of the coronavirus outbreak on the UK economy, which also brings positive impact on the real estate market.