Private rental sector 'overlooked' in Budget

Posted: 25 Mar 2010 09:34:16 GMT

Yesterday's (March 25th) Budget announcement that stamp duty is set to be abolished for first-time buyers purchasing properties under the value of £250,000 should be extended to buy-to-let landlords, one expert has suggested.

David Brown, commercial director of LSL Property Services, states: "Removal of stamp duty tax for first-time buyers is positive news for the housing market, but the unsung cornerstone - the private rental sector - has once again been overlooked."

He suggests that the majority of buy-to-let properties fall under the £250,000 threshold and therefore the stamp duty tax break should be extended to landlords.

Mr Brown says he feels that this would encourage more people to invest in the sector, which will help to meet the UK's housing needs.

According to the British Property Federation, private landlords are the only way to fill the housing gap in the UK, which has resulted from a lack of affordable, good-quality homes.

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