Stamp duty land tax charges on second homes will increase tomorrow.

This means that SDLT surcharge will rise from 3% to 5%.

This applies to

• individuals purchasing additional residential property such as second homes or buy-to-let properties in England
• companies and other non-natural persons (eg Trusts, Charities) purchasing residential property in England

This is likely to deter more people from investing in the Buy to Let market, potentially reducing private rentals and allowing more first-time buyers into the market.

Read more here