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Rush to sell 'unlikely'

Written by Amanda Bunn
Friday, 14 March 2008
Buy-to-let landlords have welcomed Chancellor Alistair Darling’s move in yesterday’s budget to reduce capital gains tax to a flat rate of 18 per cent. But claims by Pricewaterhouse Cooper (see notes to editors) claiming there will be a rush to sell property when the reduced rate comes into effect have been dismissed as ‘unlikely’ by The Money Centre, one of the UK’s largest independent buy-to-let mortgage brokers. Buy-to-let landlords have welcomed Chancellor Alistair Darling’s move in yesterday’s budget to reduce capital gains tax to a flat rate of 18 per cent. But claims by Pricewaterhouse Cooper (see notes to editors) there will be a rush to sell property when the reduced rate comes into effect have been dismissed as ‘unlikely’ by The Money Centre, one of the UK’s largest independent buy-to-let mortgage brokers. “Our most recent research among buy-to-let landlords shows that the majority regard their investment as a medium to long term strategy. Twenty two per cent of those interviewed anticipated holding on to their properties for between 11 and 20 years with a further 19 percent intending to stay in the market for anything from six to ten years. “Only 13 per cent of landlords said they were likely to sell any letting property in this current quarter and so, while the reduced capital gains tax rate will definitely benefit investors eventually, I think a rush to cash in come next month is unlikely given most landlord are committed to a longer term strategy,” said Lynsey Sweales, marketing and PR director of The Money Centre. The next wave of The Money Centre’s research is due in April. -ends- Notes to editors For further information or a spokesperson from The Money Centre please contact Donna Barker or Dawn Humphreys at Tribe on 01603 417722 or email This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it “There will probably be a rush of property sellers on 6 April”, Steve Gilder, a partner in Pricewaterhouse Cooper quoted in The Independent, 13 March 2008 The research quoted was undertaken by independent research agency BDRC on behalf of a syndicate of buy-to-let mortgage lenders and brokers. 493 online surveys were conducted among residential property investors between 5th and 26th December 2007. About The Money CentreThe Money Centre is one of the UK’s largest independent buy-to-let mortgage brokers in the UK, with over 160 consultants. It provides over 5,000 on-line quotes and manages over £150 million worth of new applications each month. The Money Centre is a member of the National Association of Commercial Finance Brokers (NACFB). Bookmark with: Delicious Digg reddit Facebook StumbleUpon What are these?

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