Autumn Statement 2015: Stamp duty to rise by 3% on BTL and second homes

Increase comes in from April 2016

Those who purchase a second home or a property to use for buy-to-let will have to pay an extra 3% in stamp duty, Chancellor George Osborne has announced.

The move, effective from next April, will raise £1bn by 2021, Osborne said. The money will be used to help fund a doubling of the housing budget to £2bn, for building 400,000 new affordable homes to buy as well as rent. From tonight the tenants of five housing associations will be able to exercise their right to buy. A Help to Buy for shared ownership will relax the rules around shared ownership, allowing more people to use the scheme. With a nod to spiralling London house prices, the Chancellor also announced a new London Help to Buy scheme to will allow people in the capital t...