Around one in five property deals fall through as a result of “gazumping”, a new study has shown. The practice of accepting a better offer after having already made a deal to sell to…
Articles by ‘Deborah North’
Mortgage lenders have warned there could be an abrupt slowdown in the property market as of April.
Contentious changes to stamp duty, pushed through by the Government last year, have “paralysed” London’s high-end property market.
New figures show that sales have slumped by over 60 per cent in the nine months since the new systems came into force.
Around 1.4 million private landlords across the UK are set to be saddled with additional taxes following an announcement in last month’s Autumn Statement.
London is paying the lion’s share of the UK’s stamp duty, according to the latest figures from HM Revenue & Customs (HMRC).
George Osborne has been warned against mounting a further raid on buy-to-let landlords.
In his July Budget, the Chancellor announced that he would be cutting back the tax relief on landlords’ mortgage interest payments.
Stamp duty continues to have a chilling effect on London’s luxury homes, property experts have said.