GEMHL disappointed at no change to Stamp Duty threshold

GE Money Home Lending says it is disappointed that the Stamp Duty threshold remains unchanged following todays Budget.

Duncan Berry, director of mortgage sales at GE Money Home Lending, says: House price inflation remains a key concern for everyone in the UK, particularly first-time buyers and so it is disappointing that this years budget has not addressed the UKs out of date Stamp Duty thresholds.

Research conducted by GEMHL this month revealed that three in four (71%) Britons felt that Stamp Duty bands should have been modernised in this years Budget, with the majority (58%) sympathising with the plight of first-time buyers who felt it should be removed altogether for those purchasing their first home.

What looks like Gordon Browns last opportunity to alter the Stamp Duty bands, will leave many disappointed, although it is encouraging to see that zero carbon homes will now be exempt from stamp duty up to the value of 500,000.