Buy-to-Let DOOM

[vetran]

Those "bigger fools" abroad take a long term view and 10-15 years property will increase in value.

yep, we aren't in Kansas anymore

[AtW]

All Osborn is doing is levelling the playing field between BTL and home ownership by removing the tax breaks BTL gets. He hasn't stopped BTL, just said use your own money or pay nearer the true cost of borrowing.

And 3% stamp duty increase is what?

[WTFH]

And 3% stamp duty increase is what?

Tax. Something Labour used to do and the Tories used to oppose.

[AtW]

Tax. Something Labour used to do and the Tories used to oppose.

Stamp duty under Tories - up to 15% FFS, this is worse than VAT - at least VAT is paid only once on purchase, yet here it's a massive transaction tax (which Tories are opposed to protect City mates), 6 sales of one expensive house and nearly whole value it taken by the Treasury in tax, FFS!

[GB9]

3% because BTL isn't a Tory policy.

And it's only 3% if you already own a property.

It's designed to get people onto the property ladder. Not into rent.

[unemployed]

It's designed to get people onto the property ladder. Not into rent.

still not going to help much

1 bedroom flat for sale in Hill House, Portsmouth Road, Esher, Surrey, KT10, KT10

[ChimpMaster]

Stamp duty under Tories - up to 15% FFS, this is worse than VAT - at least VAT is paid only once on purchase, yet here it's a massive transaction tax (which Tories are opposed to protect City mates), 6 sales of one expensive house and nearly whole value it taken by the Treasury in tax, FFS!

The Tories have killed the housing market at the top end, and almost BTL at all levels. And no matter what they say, they are not out to help first time buyers or anyone; they are simply out to grab as much tax as possible from anyone they can - including the disabled if they had gotten away with it.

15% SLDT is a humungous blow to anyone who wants to upgrade to a bigger or better located home. It's pretty much a complete showstopper in many cases at the £1.5m+ level. Remember, with SLDT you need to pay the whole amount on completion to HMRC: you'd can't add this to your lovely low-interest mortgage.

In trying to rape the golden goose, the Tories have instead managed to slay it.

[GB9]

In trying to rape the golden goose, the Tories have instead managed to slay it.

Keep prices down.

It's not Blair and Brown trying to buy off the middle classes any more, which is all the housing boom was meant to do.

[jamesbrown]

In trying to rape the golden goose, the Tories have instead managed to slay it.

I wouldn't credit them with any strategic thinking on housing policy, including in terms of the SDLT base (afterall, as I recall, SLDT is down following the recent reforms). No, this is more about reversing incompetence with further incompetence. Gidiot stoked the market with HTB1,...,N. Following a popular backlash on lack of affordability that has further undermined his "we're all in this together" mantra (even among those that have profited), they've decided they need to reverse the bubble a bit, both directly and through the thinnest of veils between HMG and the BoE. Gidiot is the most clueless and tactical of political dolts. He wouldn't know strategy if it were rolled up with his dividend vouchers from Osborne & Little and smacked about the head with it.

[The_Equalizer]

It's pretty much a complete showstopper in many cases at the £1.5m+ level. Remember, with SLDT you need to pay the whole amount on completion to HMRC: you'd can't add this to your lovely low-interest mortgage.

Should anyone shed any tears over this house price range really? So it knocks 15% off that figure. Where's the harm?