Buy to let stamp duty race begins

Demand by landlords to purchase buy to let properties surges before 1st April stamp duty deadline

With the new increase in stamp duty by 3% for buy to let property being introduced on the 1st April, Landlords are busy searching for property to purchase to beat the deadline.

However landlords have only a matter of weeks to put in a offer if they have any chance to complete on time especially if they require a mortgage.

The National Associations of Estate Agents has suggested the average mortgage takes 50 days to arrange therefore investors will need to find a suitable property before mid February.

With many property purchases falling through due to unseen issues, new builds and properties with no chains could be a more attractive option.

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