Buy To Let Investors Hit in Autumn Statement (Part 1)
The Government has continued its assault on the buy to let sector by announcing that Stamp Duty will increase by 3% on properties purchased as an investment and on second homes. The increase will be introduced in April next year and comes just months after the last tax blow, the removal of higher rate tax relief on interest payments by landlords.
This move will leave many would be property investors considering their next move.
For those investors looking for yield secured against property, an investment in debt rather than equity might make more sense. Peer-to-Peer Lending has opened up the formally restricted property debt market allowing investors to earn monthly income secured against property. The Government, in the same Autumn Statement underlined its support for the Peer-to-Peer Lending sector by unveiling new legislation that will allow investments through an ISA from April 2016.
Proplend is a Peer-to-Peer Lending platform that enables lenders to invest directly into UK commercial property loans with their money secured against a first charge over the property and returning 5-12% pa*.
For more information please visit proplend.com or call a member of the Proplend Team on 020 3397 8290.
For more detail on the Autumn Statement our partners GLI Finance, along with Instinctif Partners, provide Key Announcements and Spending Review HERE.
*After fees but before bad debts and taxes.