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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in the UK, particularly first-time buyers and so it is disappointing that this years budget has not addressed the UKs out of date Stamp Duty thresholds.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.


Lenders should proceed with caution

Although business is booming, lenders should not ignore the dangers of overstretching borrowers because conditions can change rapidly as we have seen in the US, says Frank Eve

L&G covers three more illnesses

Legal & General is launching a critical illness product covering three additional illnesses. The new policy incorporates mandatory changes to the definitions of critical illnesses as set out by the Association of British Insurers. It also includes wider definitions for some illnesses. The intention of this development is to improve clarity for consumers. The three […]

SPML release credit repair product

Southern Pacific Mortgage Limited has released a one-year fixed rate product, starting from 6.04% with no extended tie-in.This product is available across the entire SPML product range, including buy-to-let and Right to Buy, and is available up to 95% LTV. There is also an early repayment charge of 6% during the fixed period, with one […]


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