UK is prioritizing owners of first homes

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UK is prioritizing owners of first homes

October 30, 2018 - 14:56
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The government of UK made it clear that it prioritizing owners of first homes, while owners of houses for rent are now under hit, Bloomberg reports.

Photo © ScouserUK, CC0 1.0

The government of UK made it clear that it prioritizing owners of first homes, while owners of houses for rent are now under hit, Bloomberg reports.

Even though there were talks about quitting the program Help to Buy, it was decided to extend interest-free loans until 2023, however, now program will focus on new buyers of houses.

Investors in residential property with the purpose of rent will not be able to use advantages of reduced tax on capital gains that was applied to homes that were rented at some point of time. Only owners occupying houses and renting separate rooms will be exempted from new rules.

Government is trying to raise home ownership by young voters.

Besides, more funds will be provided to housing infrastructure and banks guarantees to support small builders.