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Budget 'overlooked landlords'
Posted by Emily Jones
The Budget unveiled by the government this week overlooked landlords, it has been claimed.
On Wednesday, chancellor Alistair Darling revealed that the stamp duty threshold has been raised from £125,000 to £250,000 for first-time buyers.
Responding to the development, LSL Property Services' commercial director David Brown said people who invest in buy-to-let properties will not benefit from the changes.
According to the expert, the "vast majority" of such homes would fall under the new threshold and extending the tax break to landlords would encourage further expansion of the private rental sector.
In turn, this would help the UK's growing housing needs, he added.
Mr Brown went on to state: "Property investors have been supporting thousands of wannabe first-time buyers who have been unable to afford to buy."
The government's decision comes three months after the stamp duty holiday for residences worth under £175,000 was brought to an end and the new measures are due to last for two years.
26/03/2010 15:30
News category: Property