Housing Minister Rejects Claims Bill Amendments Will Incentivise Cuckcoo Funds To Buy Up Homes.

Wednesday, 7 July 2021 12:40

File image: Housing Minister Darragh O'Brien/RollingNews

The change means funds which lease the properties back to local authorities, will be exempt from the tax.

The Housing Minister has rejected suggestions that an amendment to a Finance Bill will act as an incentive to cuckoo funds to buy up housing stock.

Under new planning rules, funds which attempt to bulk buy 10 or more properties will be subject to 10 per cent stamp duty.

The amendment will mean that cuckoo funds which lease the properties back to local authorities, will be exempt from the tax.

Minister Daragh O'Brien says the amendment will ensure thousands of families are housed.

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