View more on these topics

Brown’s Budget is a “lost opportunity”, says A&L

Alliance & Leicester says Gordon Brown’s Budget is a missed opportunity to help first-time buyers.

Stephen Leonard, director of mortgages at A&L, says: “This Budget is a lost opportunity to redress the burden of Stamp Duty.

“Alliance & Leicester has campaigned for more help for first-time buyers as our research reveals that the majority of them are caught in this Tax trap, preventing them from getting a foot on the property ladder.

“Two-thirds (62%) of first-time buyers are looking for homes over the current £125,000 Stamp Duty threshold.

“House prices have risen over 11% in the past year, and as the current average house price for a first-time buyer stands at £151,030, the limit needs to be at least this amount to have any effect.

“First-time buyers are a vital part of the housing market, and the government should be doing everything it can to encourage more people to become homeowners.

“Therefore, Alliance & Leicester will continue to fight for first-time buyers to be made exempt from paying Stamp Duty.”


Data security is an issue for us all

The case of Nationwide and the stolen laptop stuffed full of client details for which it was recently fined by the Financial Services Authority probably raised a few smiles. There was some satisfaction in seeing a mighty company such as Nationwide brought low.

Brash ads can dilute a good brand

As I move to pastures new I mull over my unhappiness about edeus’ muscular advertising, which is nothing short of unprofessional in the way it knocks the opposition, says Sue Read

Yousefi quits A&L to join Merrill Lynch

Mehrdad Yousefi has quit his role as head of intermediary mortgages at Alliance & Leicester after an 18-year career with the lender, to join Merrill Lynch.Mortgage Strategy can exclusively reveal that the announcement was made internally within A&L at 9.30am this morning, though a leaving date is yet to be confirmed.Yousefi is rumoured to have […]


News and expert analysis straight to your inbox

Sign up