Investors deterred by buy-to-let clampdown

For many people buy-to-let has been an attractive income investment at a time of low saving rates and stock market volatility. But with the Chancellor George Osborne making it his goal to create what he described as a “level playing field” between landlords and those buying homes to live in, many would-be landlords are now put off the idea of investing in property, new research shows. Around one in four would-be landlords have been deterred from the idea of investing in the buy-to-let sector by the Government’s proposed 3 per cent stamp duty surcharge, according to the study by online investment platform rplan.co.uk. The study has also shown that 9 per cent of UK adults have given up on aspirations to own a buy-to-let property while 30 per cent are still considering whether to do so. Some 14 per cent existing landlords say they will now sell one or more of their properties because of the new rules. In his Autumn Statement last year, the Chancellor announced that a 3 per cent rise in stamp duty for buyers of second homes and buy-to-let landlords will come into play from April, almost trebling the purchase tax on a typical £275,000 buy-to-let…

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