Spending review – Landlords and second home buyers hit hard

Chancellor George Osborne has today announced that buy-to-let landlords and people buying a second home will from April 2016 have to pay a 3% surcharge on each stamp duty band.

The surcharge will lift each band by 3% so properties worth between £125,000 and £250,000, where the stamp duty is currently 2%, buy-to-let landlords will from April 2016 pay 5%.

If you are a commercial property investor with more than 15 properties, you are expected to be exempt from the new charges.

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