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Tax Crackdown

Tuesday, 28th July, 2015

Most landlords will remain loyal to buy-to-let despite Chancellor George Osborne's crackdown on tax relief on his recent budget.

Osborne limited tax relief for buy-to-let mortgage interest payments to basic rate tax, in a move which may cost landlords thousands of pounds a year.

Some analysts suggested buy-to-let would be less attractive as a result but new research from Barclays Mortgages shows that less than one in ten are planning to sell their property.

And under one in four would even consider the idea of selling up. 

The bank's research shows that buy-to-let property owners remain optimistic, with almost seven out of ten describing the current market as "buoyant".

Andy Gray, Barclays managing director or Mortgages, said: "It's encouraging to see home owners are still feeling confident about the rental market and view buy-to-let as a valuable way to support their finances".  




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