For Anyone Considering Property
What's actually changed in property.
Several pieces of UK legislation and tax policy have changed over the past few years in ways that materially affect anyone considering property in the UK. Some of the changes below apply to all buyers; others apply specifically to landlords. None of this constitutes advice it is publicly available information about UK law and tax that anyone considering UK property should understand for themselves.
Higher Mortgage Rates
UK mortgage rates are significantly higher than during the 2020–2022 period. Anyone holding or considering a mortgage needs to look at the numbers carefully.
Stamp Duty Changes
Additional property surcharges have increased the cost of buying a second home or buy-to-let property. Threshold reforms also affect first-time buyers and main residence purchases.
Section 24
Mortgage interest relief has been removed for individual landlords. The tax treatment of rental income is fundamentally different to what it was.
Renters' Rights Act
Section 21 no-fault evictions have been abolished. The legal framework for managing tenancies is more complex under the new regime.