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BoE says tax changes unlikely to reduce buy-to-let purchases

20 May 2016

Business contacts of the Bank of England (BoE) say that in the long term, the recent stamp duty and mortgage relief tax changes will not ‘lead to a substantial reduction in BTL purchases’

This view is driven by their positive expectations of rental growth, and the continuing attractiveness of BTL relative to alternative investments.

The report also mentioned that the Bank’s contacts felt that landlords may not yet fully appreciate the effects of reduced interest relief from April 2017, which is viewed as a more significant tax than the 3% stamp duty increase on purchases.

The BoE gathers monthly intelligence from 100 business contacts across the UK, and the Bank feels that these views represent the aggregate view from business – see here for the full report


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