Frantic Investors Rush To Beat Stamp Duty

There is resounding new evidence that buy-to-let investors are desperateto beat the April 1 Stamp Duty surcharge deadline.

Also, more individuals appear to have transformed themselves into companies in order to be exempt from an earlier clampdown announced by George Osborne last year.

According to specialist broker Mortgages for Business, limited companies accounted for 43% of all buy-to-let cases in January which is a large increase from 38% at the start of the year.

Overall buy-to-let applications were up 27% in January from the month before.

From April 1, a 3% Stamp Duty Land Tax surcharge will be enforced on the purchasers of second homes which includes buy-to-let properties.

Steve Povall ,Managing Director of Residential Estates said “It would not be a shock if the figures continue to rise in order to relieve any extra costs."