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A quarter of buy-to-let investors set to quit

[ Posted June 7th, 2010 ]

According to recent research from LSL Property Services, a company that owns the largest lettings agency in the UK, more than a quarter of landlords might be pushed out of Private Sector Rental if the coalition government continues with its plans to raise Capital Gains Tax on all non-business assets.

The research shows that nine-out-of-ten landlords are against the new tax regime, with 26% willing to consider selling their properties before the introduction of the new scheme. The government’s plans would increase the level of Capital Gains Tax payable on the sales of all buy-to-let properties from the 18% flat rate to the individual seller’s highest personal tax rate, and this could be as high as 50%. LSL have cautioned that the new tax proposals could potentially have a real impact on possible future investment in the private rental sector, and 71% of landlords in the study said that any increase in Capital Gains Tax will ensure that they re-think any future property investments.

Simon Embley, CEO of LSL Property Services commented that over the past two years the property market in the UK has seen roughly 30% of all revenue generated through pure investment properties. While not directly affecting many markets this is generally seen by many experts as a potential problem in the future should further taxes be levies against landlords purchasing property for pure investment purposes due to the fact that any drastic change could lead to a major reversal of market interest by one of the primary driving factors in helping to restore the economy. This is particularly important in some still shaky areas, with even commercial property potentially suffering in the not-too-distant future as many areas have still not fully recovered enough to the point to be considered stable and able to resist any major changes. aims to provide every client with cheap, affordable and best mortgage loans in the UK market, however the actual mortgage rate available will depend on client's financial circumstances and credit history. Although, has made every effort to ensure that the mortgage rates listed are correct, it bears no responsibility in case of an error. 
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