Pre-Budget Report UK
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| Posted : Dec, 10, 2009 | Author [hbfinvestments]
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The Chancellor, Alistair Darling, recently gave his pre-budget report, but are landlords and property investors going to be any better off?
Sadly he dealt the news that the stamp duty holiday (http://www.investment-properties-for-sale.co.uk/2009/11/20/last-chance-to-take-advantage-of-stamp-duty-holiday/) would officially be coming to an end on 1st January 2010. Ita^EUR^(TM)s helped so many people to save money with the purchase of properties, and helped prevent the property market from becoming stagnated during 2009, so ita^EUR^(TM)s a great shame to see it go. It will return to the usual level, of buyers having to page 1% stamp duty fees on all properties priced at A^?125,000 or over.
On a more positive note, the Chancellor announced details of a new boiler scrappage scheme a^EUR" similar to the popular car scrappage scheme a^EUR" that will be introduced early in 2010. Although details are sketchy at the moment, it will enable people who have old boilers with a G rating (the lowest efficiency level) to trade them in for A^?400 towards the cost of a new boiler or renewable heat unit.
As boilers account for up to 60 per cent of emissions in the UK, it will not only give homes a more efficient boiler, but also help the environment too. It could also help landlords cope with the hefty cost of installing new boilers. It sounds promising, so wea^EUR^(TM)re looking forward to hearing more details in due course about this scheme.
For more details about the pre-budget report, see http://prebudget.treasury.gov.uk/
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