A property-focused budget

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As you've no doubt seen by now, this year's budget has focused heavily on property. The Chancellor's 'housing budget,' as it's been called, offers various means to help buyers get on the property ladder. 

Many first-time buyers naturally opt for flats and apartments, so these changes to property costs will encourage more purchasers to seek out their perfect block property. Here's a summary of the main property-related changes…

  • Stamp duty has been abolished for people spending up to £300,000 on their first home - brilliant news for young purchasers stepping into the property ladder.
  • For first-time buyers in London and other expensive areas, the first £300,000 of a £500,000 purchase will also be exempt from stamp duty, with the remaining £200,000 incurring 5%.
  • Property building will benefit from £44 billion of funding, loans and guarantees, to build 300,000 homes each year within around eight years.
  • £400 million will be spent on regenerating housing estates - these will be wonderful new residential sites, exactly the kind of development we love to manage.

An increase in property development heralds a new wave of landlords, for whom the management of their leasehold properties can prove time-consuming and distracting from their other business activities.  Whilst we'll be watching the new buildings grow with interest, we'll also be keen to speak with the developers and block or estate owners to explain how we can remove that stress from landlords' lives.

Our advice services begin from before the first brick is laid, so if you're a landlord with a growth programme in mind, please call us for an early chat and we'll make sure to offer valuable input that informs some of your development decisions. You can speak with Roisin on 0845 456 8775 or email info@visionmanagementuk.com

Posted on Tuesday, November 28, 2017.