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Buy-to-let homes face higher stamp duty

Buy-to-let landlords and those buying second homes will soon have to pay a stamp duty surcharge, the chancellor has announced.

The growing buy-to-let property market in the UK could post a threat to wider financial stability, a Bank of England committee has said.

Buy-to-let landlords face cuts in the amount of tax relief they can claim on mortgage interest payments, the government has said.

Buy-to-let lending in the UK has hit its highest level for nearly five years, lenders say, reaching 5.1bn in the second quarter of the year.

The buy-to-let sector now accounts for a record portion of total mortgage loans, according to lenders' data.

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