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Back in January, in our two-part newsletter series on the impact of tax changes announced in the Summer Budget and the last Autumn Statement on the on the Buy-To-Let property sector, we indicated that this may not be the end of the changes.
We stated at the time that the then Chancellor, George Osborne, was looking at enabling the Bank of England to be able to impose curbs on the levels that lenders can offer loans to prospective private landlords.
As is being heavily reported in the press today, the Treasury has announced that they will empower the Prudential Regulation Authority, the lending arm of the Bank of England, to impose new minimum affordability thresholds and stress tests on Buy-To-Let mortgages from 1st January 2017.
A government spokesman stated “The Bank of England’s Financial Policy Committee (FPC) will be granted new powers by the government to help it protect the financial system from future risks in the buy-to-let mortgage market.”
Does this signal the end of the road for the individual investor? Will there be any good news in the Autumn Statement next week?
We will be publishing a detailed newsletter covering this on Sunday 26th November and running a new webinar on Wednesday 30th November for which we are offering exclusive advance registration here.
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