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Developers plead for rethink on buy-to-let tax

More than three quarters of housebuilders would like to see the government reconsider its buy-to-let tax policies as part of a wider effort to help address the growing housing crisis in this country.

According to a fresh study by specialist short-term lender Amicus Property Finance, 78% want the government to scrap the 3% stamp duty surcharge on second homes, including buy-to-let properties, and reinstate 100% mortgage tax relief reductions.

Residential property developers are concerned that unless the government rethinks its strategy, significantly fewer people will invest in the buy-to-let sector, thus reducing demand for new build properties and long-term supply of much needed private rented homes.

“Though large scale government investment plays a part in stimulating supply, developers see the current tax laws as one of the biggest obstacles to solving the housing crisis, particularly repealing the recent stamp duty increases for landlords,” said Keith Aldridge, founder and managing director at Amicus Property Finance. 

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