Chancellor George Osborne has set out the state of the economy in the Autumn Statement and spending plans for the next four years in the Spending Review. Here are the main points relating to the Housing Market:

  • New 3% surcharge on stamp duty for buy-to-let properties and second homes from April 2016, raising about £1bn
  • Restrictions on shared ownership to be removed and planning system reformed to deliver more homes
  • London Help-to-Buy scheme to offer interest-free loan worth up to 40% of the value of a newly built home
  • Plans to hand £2.3bn to private developers to build 400,000 new homes in England

For more information on the 3% stamp duty surcharge CLICK HERE

source: BBC