Budget calculator: How will the Budget affect you?
The Chancellor George Osbourne has delivered his eight Budget, which for the Buy to Let and housing market as a whole has not been met with open arms, why not? Well, for one thing, this Chancellor thinks that those hardworking Buy to Let investors like you, who took his govenments advise and got in to the Buy to Let market in the first place to increase your pensions should be tragetted and villified as the bad guys, only looking to earn a quick buck at the expense of the renters. What he fails to accept is that if it were not for the Private Rental Sector, the housing crisis that we are seeing would be a whole lot worse.
In an effort to reverse this George Osbourne thinks that by taxing the Buy to Let Landlord, he will increase housing stock to help the generation of tomorrow get on to the Housing ladder, which is a very shortsighted view, in our opinioin, this will do no more than force Landlords to increase rents making afordability even worse for tenants.
Rather than focus on the govenments failings to increase housing stock he has tried to direct attention on to Landlords who are made out to be money grabbing profiteers, when in reality many of them are "hard working" ordinary people like you and I trying to get on in life and secure their future in their old age, something that the governments past, present and no doubt future have pushed us all to do.
As Richard Lambert, chief executive off the National Lanldords Association said: "The chancellor's political intention is crystal clear; he wants to choke off future investment in private properties to rent.
"If its the chancellor's intention to completely eradicate buy to let in the UK then it's a mystery ti su why he doesn't just come out and say so". For further advise on how these and other changes affect you, contact The Manchester Estate Agent to speak to one of our specialists.