UK sees first time buyer Mortgages rise as buy-to-let slows

Conveyancers as well as Lenders across the nation have experienced the detrimental effects the new Stamp Duty Land Tax (SDLT) rules, which came into force from 1 April 2016, have had on the Buy-to-Let market. The new SDLT rules impose higher rates of SDLT on purchases of additional residential properties, the higher rates being 3% above the standard SDLT rates. This has deterred home owners from increasing their property portfolio in the UK as the rules also apply to properties owned abroad. One may argue the SDLT uplift on purchases…

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