Buy-to-let landlords in rush to borrow
20 February 2016
Existing Landlords looking to expand their portfolio, & new Landlords looking to make use of their pension (since the new pension rules came in), are rushing to beat the forthcoming tax changes . Leaving more and more first time buyers & home movers reporting that they are hardly getting a look in on a property before a bidding war between landlords begins.
After April this should calm down as the new proposed Stamp Duty rules will come into effect and the pressure is likely to ease.
So if you are looking to buy a property for a family home and are coming up against an increase in competition, do not lose hope, come April it should quieten down!
If you are thinking of selling - this may well be the time for you but you will have to get a move on as the sale has to complete before the April tax changes for the lower rate of Stamp Duty to be applied.