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No CGT for landlords selling to first timers call
A landlords’ group is calling on political parties to create a major incentive to landlords to sell their properties to first time buyers – with a reward of not having to pay capital gains tax.
The Residential Landlords Association says this would free up ex-rental homes and tone down some of the political mood music which currently suggests buy to let investors are denying first time buyers potentially affordable homes.
“This is a sensible policy that could increase the number of properties available to first-time buyers. It may also allow a number of landlords to exit private renting, especially those for whom the level of CGT makes selling their property marginal and who can feel trapped in the sector” explains RLA chairman Alan Ward.
“Offering roll-over relief makes the sale viable and would see more properties on the market for first time buyers” he claims.
