I was talking to one of my portfolio landlords the other day as I was helping him to source another buy-to-let property when he mentioned something that made me think. He was complaining about the amount of additional Stamp Duty he had to pay (due to the increase in April 2016), which I have discussed in a previous article on this blog. This made me think about the other side of the property market who stood to benefit from the investors gripe..first-time buyers of course!!
There’s a whole legion of wannabe Walsall first-time buyers keen to get on the property ladder and they now have a 3% price advantage over the previously quicker responding army of Walsall landlords with cash at the ready. Since the start of April, buy-to-let landlords have had to pay an additional 3% stamp duty on their purchases so, whilst demand from some buy-to-let landlords has dropped away, in the interim, it offers first time buyers a chance to fill the vacuum with less competition from cash rich landlords – over two thirds of buy-to-let properties were purchased without a mortgage in the last 7 years – who could bid more and complete quicker.
Walsall Property Blog 
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