Rise in buy-to-let stamp duty 'could restrict supply' of new homes in the UK

CHANCELLOR of the exchequer George Osborne will increase the stamp-duty rate for purchases of buy-to-let and second homes to reduce competition for first-time property buyers.

Buyers of second homes and buy-to-let properties in the UK will from April be subject to stamp duty sales tax that’s three percentage points higher than those who are buying a home to live in, Osborne said earlier this week.