This week on Ask Rob & Rob, the guys are only answering one question because it warrants a pretty comprehensive answer.
AND it’s a question that’s on everyone's lips right now...
What impact will Boris Johnson have on property investors now that he’s our new Prime Minister?
Thanks for the question Becky - let’s dive right in!
Boris has already made noises that he’s going to make changes to stamp duty, and if you didn’t read last week’s Hub Extra, we actually included this story. Surprisingly, it’s not as doom and gloom as you might think.
He wants to move the threshold of where stamp duty becomes payable to £500,000 - which is a big difference to the current £125,000 and will make a huge difference to buy-to-let property investors and homeowners.
There’s also considerations that stamp duty will be payable by the seller rather than the buyer. Now, this isn’t something he’s officially made a comment on, but if it goes ahead it will have a bit impact on the market.
However it looks like the 3% surcharge for buy-to-let properties isn’t going anywhere any time soon. Bah!
Rob & Rob have talked about stamp duty numerous times on The Property Podcast and we even explain in depth what it is and how it works in this article.
But what do The Robs think of Boris Johnson running our country altogether?
Well, you’ll have to tune in to find out their opinion.
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