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Friday, March 25, 2011

Budget BTL windfalls

The Chancellor has shown a mass of support in his budget for the BTL sector,

Including proposing changes in stamp duty for the purchase of bulk property portfolios.

The new proposal will allow investors to only pay stamp duty at the rate of the average property price and not the total value of the portfolio. This could bring the stamp duty down from 5 percent to 1 percent if the average property value is less than the £250k threshold.

The British Property Federation welcomed the changes, whilst rubbing it's hands together vigorously. Read more in the Telegraph

Aviva also backs the government changes - Read more on this

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