'Too late' on second homes budget changes

Tax breaks and stamp duty relief for second home owners are being abolished by the Chancellor Jeremy Hunt.

But the chancellor's move has been called "too little, too late" by a man struggling to get on the housing ladder in the South West of England.

Unveiling his budget, Mr Hunt said holiday let loopholes were being abused, harming the long term rental market.

Those tax arrangements had made it more profitable for second home owners to rent their properties to holidaymakers, a decision consistently blamed for causing some of the problems in the local housing market.

Sam Richardson, who spoke to the BBC at Par Market in Cornwall, said: "They've had 12 years to fix this problem.

"I'm living in Falmouth and spending a lot of money to rent a room.

"It's nice and dry and clean but it's preventing me from ever getting on the housing market.

"So it feels too little too late."

Stall holder Mandy Rowlett said: "I was looking out for some kind of help for the younger generation.

"My two sons are 17 and 18 and I'm wondering how are they ever going to afford to get on the property ladder, or even move out or rent?"

She welcomed the possibility of there being more homes for long-term rent.

"We need the holiday business as well, we need a balance of everything," she said.

Butcher Andy Brown said: "I feel very strongly about the second home situation.

"A lot of our younger customers are in rented and the level of rent they are having to pay is quite frightening."

Follow BBC Cornwall on X (formerly Twitter), Facebook and Instagram. Send your story ideas to [email protected].