View more on these topics

Estate agents slam Budget for lack of Stamp Duty reform

Gordon Browns Budget has been slammed by haart estate agents for its lack of Stamp Duty reform.

Paul Smith, chief executive of haart estate agents, says: With the average value of a property in London now over 260,000, the majority of first-time buyers are looking at properties above 250,000 but they dont have the vast cash reserves to fund the 3% Stamp Duty of 7,500. Most are stretched to the limit as it is.

“Stamp Duty will remain a great stumbling block for many and the chancellor has done nothing to help.

Stamp Duty is an all-encompassing tax for everyone and it particularly deters first-time buyers, who are already struggling to raise the capital for a deposit, from entering the market – the very people the Government says they want to get back into the market.

It is crucial for the survival of the housing market that first time buyers are encouraged to enter.

Recommended

Charities stand to lose up to 75 million from Budget reform

Charities face losing over 75 million per year from April 2008, as a result of the reduction in the basic rate of income tax from 22% to 20%, announced in the Budget. Charities recover basic rate tax from HM Revenue and Customs when donors give money under the Gift Aid scheme this provides some 750 […]

PMS to bring regulation roadshow to Belfast

Premier Mortgage Service has revealed it will be hosting another Northern Ireland roadshow to help promote regulation in the province.The Financial Services Authority, Association of Mortgage Intermediaries and Society of Mortgage Professionals have all agreed to present and discuss a number of topical issues with intermediaries from all over the country.The event is to be […]

Commercial mortgages have been good for all

Over the past couple of years, one of the best performing asset classes in terms of overall returns has been commercial property. But what part has the commercial mortgage market played in this success?

Game on

The Treating Customers Fairly implementation deadline is nearly upon us and brokers have an important role to play, says Christine Toner

thumbnail

What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.

Newsletter

News and expert analysis straight to your inbox

Sign up