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BUDGET 2008: Scottish Widows backs Darling’s Stamp Duty changes

Scottish Widows Bank is voicing support for the chancellor and his changes to Stamp Duty legislation on shared ownership to help in this mornings Budget.

Richard Clark, head of product development and marketing at Scottish Widows, says: “The news that Stamp Duty will not be required on shared ownership homes until people own 80% of their home is a positive step by the chancellor and will encourage key workers and first time buyers to get on the housing ladder.

“It’s good to see the chancellor attempting to break down those initial barriers to buying a first home.”

Scottish Widows Bank offers a key worker mortgage which gives key workers, such as nurses and police officers, the opportunity to buy their own home outright, rather than just part owning it.

The mortgage is designed to help bridge the gap between average house prices and earnings ratio for the key workers sector, which has increased rapidly over the last five years, by taking into account long-term overtime and shift allowances when assessing affordability.


Quest launches new anti-fraud tool

Quest has launched an anti-fraud tool designed to help quickly uncover suspiciously high valuations.Based on trials and discussions with key industry figures, Q-Price Alert will work alongside Quest’s existing fraud detection software to enable surveyors and lenders to identify any potential surveys or mortgage applications where a valuation figure seems too high.It works by using […]

NDL conference: Brokers not holding on to clients

Tim Hague, managing director of BM Solutions says that it is seeing an increase in the number of cases coming to it that are being remortgaged by different brokers.He says that not so long ago it was seeing around 40% of the cases coming in for remortgages from a different broker that had placed the […]

BUDGET 2008: No respite for FTBs

The chancellor Alistair Darling’s maiden Budget offers no real respite for first-time buyers says’s managing director Helen Adams.She says that the the governent continues to leave the next generation high and dry by offering almost no relief in terms of tax or Stamp Duty. She says: “Simply allowing shared ownership property buyers only to […]

BUDGET 2008: Darling says Britons remain confident in UK economy

Chancellor Alistair Darling says in his maiden Budget that despite the worst financial circumstances in generations confidence in the British economy has been maintained.Darling says that today the UK is at it’s most stable with fundementals like unemployment ranking lower than other EU nations.He says the UK is “More resiliant and more prepared to deal […]


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