Another blow for buy-to-let investors

THE Chancellor announced that those purchasing properties for buy-to-let or as holiday homes will have to pay a penalty - stamp duty at a rate that is 3% higher than a residential purchase.

It's another blow for those who see buy-to-let as an alternative investment vehicle given the historically low levels of interest rates and it follows his announcement on mortgage interest relief in the July Budget.

George Osborne said: "More and more homes are being bought as buy-to-lets or second homes. Many of them are cash purcha... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...