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Thursday, March 25, 2010

Nothing in the budget for landlords....but discrimination.

As expected - nothing in the budget for landlords apart from a blatant bit of discrimination.

The Chancellor in his one gesture to the housing market has decided to scrap the 1% stamp duty on purchases up to £250,000 saving a potential purchaser up to £2,500.

This saving is only available for first time buyers and not landlords. This means automatically that a landlord is having to pay more effectively for their property than somebody trying to get on the housing ladder. Is this a good thing?

I'm all for greater home ownership, but since the scrapping of MIRAS back in the 90's I thought that ownership was a personal choice not something that should be addressed and funded by the tax payer.

To me this selective change discriminates against landlords and distorts the housing market. That ultimately is unsustainable and can't be good for any of us involved in housing provision.

The National Landlord Association have had a close look at the detail of the 2010 budget and review its effects on landlords.

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