Despite the LBTT holiday ending at the end of this month here in Scotland, the latest research has shown that appetite for property among landlords is still high.
The research carried out by Foundation Home Loans has shown that landlords have indicated that they will remain active in the rental property market from April onwards when the stamp duty holiday is due to end.
It was predicted that Scotland would follow England and Wales in extending the holiday for another three months, but the Scottish government has confirmed that the LBTT holiday will end as planned, on March 31st.
The research from Foundation Home Loans and data group BVA BDRC revealed that 48% of buy-to-let property owners will remain active in the first quarter of the year but 41% of landlords would buy in the second quarter, 28% in the third quarter and 29% in the final quarter of 2021.
The survey involved questioning nearly 1,000 landlords in December 2020 and January 2021. The research showed that overall, 16% of landlords would buy and additional property this year and only 14% would abandon the purchase if completion didn’t look likely before the end of March.
When asked if the government would extend the LBTT relief in Scotland, 31% believed that the deadline would remain and only 4% were buying property because of the stamp duty holiday. This indicates that landlords have a continued intention to keep purchasing property to let, regardless of the stamp duty holiday being extended which is positive news for the sector.