Most landlords unfazed by stamp duty surcharge
Four out of five (78%) would-be landlords will still consider investing in property after the new stamp duty rules are introduced from 1 April, Nottingham Building Society research shows.
The 3% stamp duty surcharge will put off one in seven (14%) landlord purchases.
Ian Gibbons, senior mortgage broking manager at Nottingham Mortgage Services (part of The Nottingham), said: “The buy-to-let market remains strong despite a period of uncertainty as lenders and customers assess their options ahead of stamp duty and tax changes.
“People should only invest in buy-to-let if they can afford to and it makes financial sense for them. But that said it is clear that demand for property investment is not going away any time soon with the research showing people still very much value property as part of retirement planning.
“The tax and stamp duty changes are complicating the calculations on buy-to-let but given the risks of stock market investment and the low interest rates there is a strong case.”