IslamicFinance.de

Keith Leach, chief commercial officer (CCO), Al Rayan Bank, has an answer to the question if the new UK stamp duty charges announced in the autumn budget have a negative impact on foreign investment into property. His answer showed that potential investors are looking at the big, global picture. The tax changes — what might be on the horizon — wasn’t figuring in their thought processes. What was in their thoughts was the political and economic instability in the region, he explained. With regard to the impact of the 3% hike across all bands of stamp duty on buy-to-let landlords in the UK, Leach said it could lead to landlords faced with higher charges raising rents, or abandoning the buy-to-let market with a consequent reduction in availability of rental properties.