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The Property Podcast

ASK160: What does the 2018 budget have in store for property investors?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 30 October 2018

⏱️ 4 minutes

🧾️ Download transcript

Summary

Today we’re breaking away from the traditional Ask Rob & Rob to bring you a 2018 budget special. Did the Chancellor have any nasty surprises for property investors? Are the Robs likely to have a wobble at what else Philip Hammond is throwing at the sector? There’s no doubt that property investors have taken a hammering over the past few years so understandably, there was every reason to be a tad nervous as the 2018 budget aired across the UK. Even if you listened to the 2018 budget live as it happened, there were a few property related items which didn’t make the main agenda. But, the Robs have delved deep into the detail to fill you in on this 2018 budget special of Ask Rob & Rob. On this special, Rob & Rob will cover: A new stamp duty update which widens the net of people who benefit. And it’s being backdated, A housing infrastructure fund which will help property developers create an additional 650,000 new homes Lettings relief - reducing the capital gains tax you need to pay News on Help to Buy   It’s short and sweet this week so grab a coffee, hit the play button and enjoy this week’s Ask Rob & Rob. Do you have a property or property investment related question for Rob & Rob? If you’d like to feature on the next episode, give us a call on 013 808 00035 and leave a message with your name and question (normal UK call rates apply).   Or if you prefer, click here to leave a recording via your computer instead. The next question on Ask Rob & Rob could be yours. Have you joined us over in The Property Hub Forum yet? If you love property chit chat, this is the place for you. Our online community are a friendly bunch, keen to share their knowledge and experience. So get yourself over and introduce yourself. See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, I'm Rob. And I'm Rob. And this is a Budget Special.

0:10.0

Yes, welcome to this very special episode of Ask Rob and Rob, where there is no question being asked.

0:15.3

We don't have a questioner because there hasn't been time.

0:17.5

We're recording this literally minutes after Phil Hammond has sat down after delivering his budget,

0:21.6

because we know that lots of you even though you haven't

0:23.2

sent in a recording we'll have questions around what this budget means for property investors

0:27.7

and Rob the absolutely wonderful news is the answer is not a lot isn't it? Yeah good old Phil

0:34.8

Phille, Philie mermaids, yeah well done Phil. A boring budget, thank God.

0:41.0

We've been hammered over the years and understandably, so pretty

0:47.1

nervous listening to this budget. But I'm please Rob that while we have news and

0:52.0

there is a few talking points it's nothing

0:54.8

scary and actually we can all breathe a sigh relief. Yes it's really slim

0:58.2

pickings when it comes to property he didn't say much at all we had to dig deep

1:02.1

into the big long official document

1:04.6

that goes along with the budget to find a couple of things that are so

1:06.8

minor he didn't even bother mentioning them in his proper speech but let's

1:09.8

quickly round off what those are now. Okay so first up we've got a stamp duty update,

1:15.4

so currently first-time buyers do not pay stamp duty on any homes

1:19.6

up to 300,000.

1:21.5

That is being continued, which is a good move, but also the scheme has been extended

1:27.2

for people purchasing through shared ownership schemes of up to

1:35.0

a five hundred thousand and he's backdating it generous fellow to anybody who's purchased since that scheme started

...

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