Suspend Stamp Duty

The Association of Home Information Pack Providers has called for a halt to the charging of stamp duty on all house sales of less than £200,000. With reports of new mortgage approvals having fallen by 65%, and regular announcements of redundancies in the home finance sector, no one can dispute that the housing market is having a very difficult time.

Mike Ockenden, director general of AHIPP explained that the suspension of stamp duty on lower cost homes might make them affordable to home movers and first time buyers who don't quite meet lenders criteria at present. He went on to say that stamp duty is a key factor in affordability for home buyers, particularly those who are trying to get a foot on the housing ladder for the first time.

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