Despite dire warnings was from various landlord bodies and property experts, new changes made to stamp duty rules have apparently failed to put a dent in the buy to let market.
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Landlord Interest Surges Research commissioned by the Nottingham Building Society has revealed that only 14% of landlords have been spooked enough to drop plans to invest in new properties. Instead of dampening the market, interest in buy to let investment remains as strong as ever.
78% of the people who responded to the survey said they were considering investing in buy to let property. In fact there has been a big surge in interest in the last three months, which suggests that George Osborne’s much criticised strategy to slow down the private rental sector has backfired.
Buy to Let Remains Stronger than Ever “The buy-to-let market remains strong despite a period of uncertainty as lenders and customers assess their options ahead of stamp duty and tax changes,” says Ian Gibbons from the Nottingham Mortgage Services.
“People should only invest in buy-to-let if they can afford to it and makes financial sense for them. But that said it is clear that demand for property investment is not going away any time soon with the research showing people still very much value property as part of retirement planning. The tax and stamp duty changes are complicating the calculations on buy-to-let but given the risks of stock market investment and the low interest rates there is a strong case.”