Though the benefits of the government’s recent summer statement are obvious for home buyers, the Chancellor also brought good news for landlords, and property investors too. In the already buoyant Oxford property market, this is additional welcome good news. At JCP, we have a foot in both camps. We have busy residential sales departments covering Oxford, from Central North Oxford and Cowley Road. We also have a burgeoning Lettings Department dealing with both HMO landlords, servicing the highly demanding HMO market, and low density single landlords providing smaller units for private professional tenants.

The Chancellor’s stamp duty holiday will benefit the residential sales market, of course, but will also benefit landlords and investors. As before, any second property purchased will still require payment of the additional 3% stamp duty, but you will not need to pay the standard charge that accompanies it (up to £500,000).

So what are the figures for various purchase prices?

Purchase Price                                Previous SDLT Cost                                       Current SDLT Cost

£200,000                                         £7,500                                                             £6,000

£300,000                                         £14,000                                                           £9,000

£400,000                                         £22,000                                                           £12,000

£500,000                                         £30,000                                                           £15,000

As you can see, there is money to be saved. This money could be put towards refurbishment costs, or simply fed back into the investment to increase the ongoing yield.