The favourite to be named as the new Prime Minister and Conservative leader, Liz Truss, says there will be no new property taxes under her rule.

Landlords have flocked to auction houses in search of a quick sale after tax changes and rising interest rates killed off their profits.

The average buy-to-let mortgage rates for some typical two-year fixed rate deals favoured by landlords have doubled since the start of the year, it has been revealed.

The high rates could see the market boom coming to an end as there are expected to be 150,000 fewer purchases made in 2023, causing a 12 percent decline and falling back to levels seen in 2013, the company warned.

Latest figures released by HM Revenue & Customs show yet another large increase in the amount of taxation received by the Treasury from landlords and other property owners.

The average price of a UK home climbed again in August, although the rate of annual growth slowed, as the country’s largest lender warned of a “more challenging period” ahead for house prices amid rising interest rates and the cost of living squeeze.

A tenth of landlords reaching retirement age expect income from their properties to be their biggest source of income for their pension years, despite tougher buy-to-let conditions.

Before the turmoil that spread through Downing Street recently, Boris Johnson revealed that he was considering plans to introduce a 50-year mortgage plan. As more people try with no luck to get on a property ladder, options such as these longer-term mortgages become attractive methods for buyers to take that first step.