It would increase the number of people stuck in their first home (flat), no?
The rungs of the UK property ladder are already too far apart for the average resident to move up (kids, etc).
Huge penalties on second homes would get my vote. Clamp down on property purchase vehicles wherever possible (kids, offshore, etc).
How about banning mortgages for second homes? I.e you can only buy a second home for cash.
I don't think the people buying £25million homes in Mayfair are using a mortgage.
France has that.
Not sure it makes a difference but I guess research from there may give information on how well it works.
@Stonehedge started
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
It would increase the number of people stuck in their first home (flat), no?
The rungs of the UK property ladder are already too far apart for the average resident to move up (kids, etc).
Huge penalties on second homes would get my vote. Clamp down on property purchase vehicles wherever possible (kids, offshore, etc).