The UK Conservative party is set to raise stamp duty for non-UK residents in a bid to make homes more affordable for those living in the UK.

Foreigners who buy property in the UK will face an extra tax through a surcharge of up to three percent on the top of stamp duty, according to UK Prime Minister Theresa May.

The Government will raise stamp duty for individuals and companies who are not tax resident in the UK, which could raise up to £120 million, which will be used to help homeless people, according to the Conservatives.

"The money we raise from this extra stamp duty is going to be spent on dealing w...