Cost of capital gains tax for home sellers ‘has halved’
Capital gains tax costs for landlords have halved, with the introduction of new legislation from April's budget.
According to new analysis from the Mortgage Works, buy to let mortgages for professionals holders therefore stand to gain financially when selling their homes - compared with previous legislation.
However the firm pointed out that, with house prices on the decline, few were taking the opportunity to sell their properties on at a loss.
Commenting, Andy McQueen at the Mortgage Works said: "Although the buy to let market has, like all sectors, been impacted by the credit crunch, landlords have continued to buy and sell properties on a regular basis.
"This has resulted in buy to let forming a higher proportion of net lending than previously seen in the mortgage market."
He added: "Good buy to let investors always treat their property portfolios as a long-term investment, and…contrary to having to offload properties, many landlords are choosing to hold onto their investments until house prices begin to either stabilise or increase."
Figures from lender Nationwide, released earlier this week, show that the cost of the average home in the UK has fallen by over ten per cent in the past year.
According to new analysis from the Mortgage Works, buy to let mortgages for professionals holders therefore stand to gain financially when selling their homes - compared with previous legislation.
However the firm pointed out that, with house prices on the decline, few were taking the opportunity to sell their properties on at a loss.
Commenting, Andy McQueen at the Mortgage Works said: "Although the buy to let market has, like all sectors, been impacted by the credit crunch, landlords have continued to buy and sell properties on a regular basis.
"This has resulted in buy to let forming a higher proportion of net lending than previously seen in the mortgage market."
He added: "Good buy to let investors always treat their property portfolios as a long-term investment, and…contrary to having to offload properties, many landlords are choosing to hold onto their investments until house prices begin to either stabilise or increase."
Figures from lender Nationwide, released earlier this week, show that the cost of the average home in the UK has fallen by over ten per cent in the past year.
