Updating post from Reddit.
Property Wire: Scotland to experience surge in landlords
> The end of rent controls in April could see the release of pent-up interest from investors, while going forward rules capping rental increases are set to be more lenient.
> In Scotland big ticket investors can benefit from Multiple Dwellings Relief, which is available for purchases of two properties or more in a single or linked transaction, and the Additional Dwelling Supplement, which is usually charged at 8% but does not apply to purchases of six properties or more.
> As an example, someone buying two properties costing a total of £500,000 would pay £13,500 LBTT and £40,000 in additional dwelling supplement (ADS) totalling £53,500. Assuming each property was worth £250,000 with MDR applied then the costs would be £2,00 in LBTT and £40,000 in ADS totalling £42,000 which is a saving of £11,500.
Would this make England landlords sell up and move into the Scottish market? Seems like Scotland has realised too much legislation for landlords has destroyed the rental market.
I think it's faux enthusiasm from a Scottish agency that 'wants' a bounce, but I cannot see one coming. If they had rent controls once, they can have them again, and it's the same loons in power.
You add on the excitement of lower taxes when buying multiple properties at the same time? The numbers for that are going to be minimal and more likely one landlord exiting and being replaced, than new landlords entering the market.
If you don't agree with it, why bother posting?
You strip out the opinion peace angle, it's informative. Not seen anyone else here mentioning multiple dwelling relief or changes in rent caps in Scotland.
Plus, I may be wrong and I can learn.
"People bounce back" - Alan Partridge.