From April 2016 there has been an additional 3% on usual rates of stamp duty for buy to let properties and second homes. For a property purchased for £200,000, stamp duty will increase by £6,000. The government has a strict interpretation of second home so it will be very difficult to avoid this increase. Purchases of residential property are also subject to the 3% increase.
If you will be a property owner in the Bromley / West Wickham area and wish to discuss a property purchase please contact us