View more on these topics

And what the industry says…

Ray Boulger, senior technical manager of Charcol “The chancellor has again demonstrated his preference to perpetuate an unfair tax rather than undertake a well overdue reform. His silence on the unfair structure of Stamp Duty is deafening.”

Rob Clifford, managing director of mortgageforce “Stamp Duty is one way in which the chancellor has missed a golden opportunity to address the first-time buyer problem. There seems to be a relative disinterest in getting first-time buyers onto the housing ladder.”

Mike Fry, director at Halton Insurance Services “Gordon Brown needs to do something about Stamp Duty. It seems odd that he mentioned homeowners without including anything about Stamp Duty.”

John Stewart, director at PMI Independent Financial Adviser “First-time buyers need assistance getting on to the property ladder. However, the message about Stamp Duty obviously isn’t getting across. People cannot buy anything for under 60,000; the government is missing an opportunity.”

Andy Barr, spokesman for Chelsea “We are surprised that Stamp Duty was not mentioned. The security of the housing market needs to be sorted out because people cannot afford to buy houses, and Stamp Duty needs to be addressed.”

Mark Chilton, chief executive at Purely Mortgages “The government could restructure Stamp Duty without any effect on the Stock Exchange; it is disappointing for first-time buyers.”

Recommended

Slowdown in new homes sector

The average price of a new home in the UK increased by 2.7% last month to 268,724, data released SmartNewHomes.com reveals.This is the first monthly increase since August and indicates that the new home slowdown is coming to an end.Selling prices were down, very slightly, by 0.5% on the same time last year, which indicates […]

MEX reveals results of lifetime research

Results from Mortgage Express’s lifetime survey show the vast majority of lifetime customers consult their families before taking out the mortgage, allaying one of the fears of future mis-selling complaints in the sector. The survey also revealed that 60% of customers use some or all of the money released from the equity in their property […]

OFM appoints new director

The OFM Group has promoted Scott Laughlin to board director from January 1, 2005. Laughlin has been at the centre of the Southend firms’ growth over the last six years, starting OFM’s flagship mortgage update centre in 1999. Since then, Laughlin and his team has processed almost 10,000 mortgage applications making the group one of […]

Newsletter

News and expert analysis straight to your inbox

Sign up