Property investors call for more government support
The majority of UK property investors (97%) feel the government is not doing enough to support the UK property market.
Meanwhile, 33% of property investors called for a reversal on the changes to tax relief on buy-to-let mortgages and 17% believed introducing a tiered tax system on buy-to-let property would better support the UK property market.
Gareth Lewis, commercial director at MT Finance, said: “It is interesting that the stamp duty surcharge and removing it is more important to property investors than mortgage interest tax relief – it suggests this group of investors are the ones who are most likely to expand their portfolios.
“The government has introduced a series of changes to slow down an overheated property market and reduce the number of buy-to-let investors over the years.
“Property investors have been dealt some serious setbacks, impacted by changes to stamp duty and changes to tax relief but despite the changes, many remain resilient and still see property investment as a key tool for retirement planning, and a good home for their monies whilst interest rates are low.”
When asked who they would vote for if a general election were called today, half revealed they would back the Conservative Party, 18% said the Liberal Democrats, followed by the Brexit Party at 16%. Only 3% of property investors revealed they would back the Labour Party in a general election.