If you own a Nottingham investment property, what will the new stamp duty changes mean for you?
As we approach the introduction of stamp duty changes announced in George Osborne’s Autumn Statement, many people with investment and buy-to-let properties will be assessing their portfolios and considering the return on investment offered by each property.
If you have one or more rental properties in Nottingham that aren’t performing as they should, it may be time to liquidate your property assets and refocus your investment before the higher rate of stamp duty comes into play in April.
Quick Move Now’s Managing Director, Danny Luke, commented:
We’ve been contacted by a number of property investors in the East Midlands, and specifically Nottingham, who are keen to secure a quite cash sale for existing rental property that is not performing as it should.
Properties that they traditionally may have held on to a little longer are being sold off so they can redirect their funds into healthier investments that will offer a more pleasing return on investment without falling victim to the increased stamp duty land tax rates that will become applicable from April.
Property owners are keen to move quickly, which is why they’re approaching Quick Move Now – the UK’s largest independent cash home buyer – rather than waiting and chancing their luck on the open market.
Because we buy with our own cash funds, we’re able to move quickly and buy properties in as little as seven days, leaving our customers free to move on with no stress or fuss.
Recently, we’ve noticed a trend in traditional buy-to-let investors cashing in and investing in UK holiday property instead of traditional residential property.
The media has been full of stories of the ongoing squeeze and pressure on residential landlords, and many feel the financial return is simply not worth the constraints they’re being expected to operate within.
In comparison, UK holiday property investments are offering a highly favourable return – far outstripping many traditional investments both in property and other financial products, so many are keen to make that more before getting hit with stamp duty rises.