There has been speculation this past week that Philip Hammond may be considering tax incentives that encourage landlords to sell let property to long-term tenants, thus providing a measure of relief for younger persons who may be unable to afford to join the home ownership club.
The idea mooted is to provide landlords with CGT relief if they sell to a long-term (three years has been mentioned) tenant. The relief would be split so the tenant received some form of credit that could be used towards a deposit.
The aim is to make more properties available to the first-time buyer sector. Ironically, the number of homes would not increase although it may help to reverse the trend set in recent years that has seen younger persons locked into rental properties as buying a home is beyond their reach.
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