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Assetz: Stamp duty move not enough

Stuart Law, managing director of Assetz, says the decision to scrap stamp duty for properties under £175,000 is just not “radical enough to bring about a change of fortune on the housing market”.

Although in general welcoming the moce, Law says that the government needs to tackle the root cause of the UK’s current economic problems, instead of trying to win votes with sound bites.

He adds: “Bringing about a change of sentiment in the housing market is the key to reversing its fortunes.

“Radical measures are needed, including assistance with getting the mortgage funding market started again (whilst not incentivising sub prime lending and unrealistically high loan to values), a year-long stamp duty holiday for all properties under £250,000 followed by long term reform of the tax, and the cancellation of HIPs while the Government assesses what went wrong.”

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Stamp Duty threshold raised

Chancellor Alistair Darling has temporarily increased the Stamp Duty threshold to £175,000 for one year.

It’s time to cut the market some slack

It’s going to be another tough week in the City, especially for the nine members of the Bank of England’s Monetary Policy Committee, who meet on Wednesday and Thursday to decide whether or not to cut the base rate.

BDM resigns from master broker

John Forde, BDM at Norton Broker Services, has resigned from the secured loans master broker to seek new challenges.

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.

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