Our buy to let property expert James Morriss points out that extra tax implications for second homes and buy to let landlords will impact the property market in the short term. Landlords looking to expand their property portfolio will be looking hard to find suitable properties before April when the tax adjustments come into force. The legal process for buying homes can take around 8-10 weeks, so this may create a spike in buyer demand early in the New Year.
Highly geared landlords may see this as an ideal time to exit the market. This will provide the stock to satisfy the buy to let investors who want to get more exposure to the market before the April deadline.
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