Great time for property investment as the UK Government alter the SDLT rules

Posted by tungstenmg
Last updated 13th July 2020
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  • The construction sector adds £39 billion a year to the UK economy. Rishi Sunak
  • Housebuilding alone supports nearly three quarters of a million jobs. Rishi Sunak
  • What are the pros and cons for the UK Government collecting less stamp duty?
    • Increase purchases
    • A huge part of the UK economy can start to operate
    • Positive knock on effect to other industries such as builders, solicitors, architects, estate agents
    • Investment companies can start to create more private sector housing that is highly demanded
    • Open up properties to those who were unable to afford them before this reduction
    • As unemployment rises and job security is threatened will buyers wish to move
    • Buyers unable to secure mortgages with less lower end mortgage products attainable
    • Hard to view properties due to continues isolation of some sellers
    • Property investment companies are able to purchase stock from those buying in their own name
    • How will the government fill the £8.4 billion revenue loss from SDLT (based on residential sales in 2018/19)