Join our community of smart investors

Autumn Statement: OSB stumbles as Osborne turns on buy-to-let

The chancellor has imposed higher stamp duty on would-be landlords
November 25, 2015

Market mumblings over a reckoning for buy-to-let landlords were confirmed in the Autumn Statement, with the chancellor ramping up stamp duty on the purchase of additional properties. "People buying a home to let should not be squeezing out families who can’t afford a home to buy," George Osborne told a packed House of Commons.

IC TIP: Hold at 344p

New stamp duty rates will be 3 per cent higher on BTL properties and second homes from April next year. Whether or not that will be seen as the bursting of a buy-to-let boom, or merely a setback in what has been an incredibly strong run for the industry, remains to be seen. The bad news immediately hit buy-to-let lenders such as OneSavings Bank (OSB), Aldermore (ALD) and Paragon (PAG), sending share prices sharply lower.