Landlords are rushing to purchase properties before an extra 3% Stamp duty tax hike in April.
From April landlords or second home owners will be required to pay the surcharge on top of existing stamp duty, raising the costs of an upfront rental investment.
Chancellor George Osborne announced the tax raid in November’s Autumn Statement, giving prospective buyers just four months to beat the charge.
The extra stamp duty will raise the tax bill of buying a £200,000 buy-to-let home to £7,500 from £1,500 today.
It is estimated the extra tax would erase up to 14 months of income for investors.
Agents across Gloucestershire say buyers are rushing to buy now with the aim of completing by April.
CGT Lettings can offer a landlord to landlord property sales service through our investor club, ensuring continuity of rental income and maximum yield, please email c@cgtlettings.co.uk for more information.