Buy to let booming

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 Buy-to-let booming despite tax clampdown

George Osborne’s tax crackdown on buy-to-let landlords has failed to dampen demand, with borrowing having surged since the last Budget. That saw the chancellor announce plans to cut tax breaks for landlords in order to “level the playing field” between buy-to-let borrowers and first-time buyers. But mortgage brokers report that the months since have been the busiest of the year for buy-to-let applications. Over the past month the number of buy-to-let deals has risen by more than 10%, while the cost of the average five-year deal has fallen to 4.08%, according to say Harris & Co chartered accountants Northampton

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