In the build up to the changes in stamp duty which go live in April, mortgage approvals are reaching new highs. The last time we saw such records of approvals was 9 years ago. According to data from e.surv chartered surveyors, “January saw 85,432 house purchase approvals, up 20.6 per cent from the 70,837 in December”.

Buy-to-Let investors, eager to avoid the 3% increase in stamp duty, have been keeping close eyes on the property market, hoping to squeeze a purchase in before 01 April. With the intention on slowing down the Buy-to-Let sector the government has introduced these changes to help first time buyers gain access to the property ladder. However, this rise in lending for Buy-to-Lets is painting a very different picture of the current market.

Keep your eyes peeled for more updates on the changes in stamp duty and it's impact within the industry. As a valued client we are always interested to hear your thoughts on the matter. If you have any questions about how this may affect you personally feel free to contact the office.

Published on 01 March 2016

Source Wonderlease

Written by Marc Cohen

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