In the Autumn Statement the Government have announced a 3% Stamp Duty surcharge on all Buy To Let purchases, with effect from April 2016. The surcharge applies to all purchases above £40,000, meaning that an average BTL purchase at £100,000, will now cost an extra £3000 in tax.
|Andrew Craig commented “As a landlord myself, I realise that there is a window of opportunity, until April 2016, to buy investment properties before the Stamp Duty surcharge is introduced. I can see that BTL investors will be very active over the next few months!”|
|“We have a great selection of potential investment properties for sale, in the North East’s biggest ever Auction on 14 December”.
“The winners will of course be the first time buyers, who have recently found it difficult to compete with the BTL buyers. I am confident that this will have a positive effect on the North East housing market in the longer term”.
|Andrew Craig FRICS|
|The BIGGEST EVER AUCTION in the North East is on 14th December. Take a look at the catalogue here:|