You are reading a single comment by @NickCJ and its replies.
Click here to read the full conversation.
-
I wasn't assuming that BTLs would be included.
Bottom line I think that the benefits of these types of tax breaks predominantly accrue to property owners and sellers in the form of higher prices rather than to buyers in the form of cheaper mortgages. That's the reality of a market with a high elasticity of supply.
NickCJ-
Just checking, but I presume you mean low price elasticity of supply, here? As in, increases in price do not increase the supply of new builds or result in more second-hand homes on the market.
Always lovely to see the basic supply/demand pricing mechanism break when it comes to the largest purchase ever 🙃
slippers
I know I’m a cocktail or two into the night (it’s past midnight here) so I’ve clearly not explained it correctly. BTL properties don’t get this tax benefit. Ideally it should be limited to first time buyers only imo.