Stamp Duty hits more home owners

Halifax says there has been a 281% increase in the number of properties valued above the £250,000 Stamp Duty threshold over the past five years. Properties valued at or above this amount attract a 3% rate of Stamp Duty. The number of residential property sales attracting at least 3% Stamp Duty increased from 73,403 in 2001 to 279,408 in 2006.

Royal Bank of Scotland reports its mortgage business was just shy of £70bn in 2006 and that it has applied to qualify for the Basle II advanced regime. Norwich and Peterborough and Alliance & Leicester have already qualified for the advanced Basle II regime which allows lenders to use their own models to calculate capital requirements against lending