View more on these topics

First-timers in London face 3% Stamp Duty

Many first-time buyers in London may automatically find themselves in the 3% Stamp Duty bracket with the price of an average first-time property in the capital exceeding 250,000.

According to Halifax, people trying to get on the property ladder in the capital will face 7,500 in Stamp Duty bills as the average first home now costs 250,819.

The research also shows the average price for a first home has risen to more than 150,000, meaning the average Stamp Duty bill is 1,500. It also means that many more first-time buyers will be exempt from levies offered to people spending 150,000 in disadvantaged areas.

Mortgage Strategy has run its Step Up Stamp Duty campaign since November 2004 and has been deluged with responses from readers calling for a rise in the threshold.


eConveyancer and Openwork reach £500,000 mark

eConveyancer has finalised more than £500,000 worth of referral fees with Openwork since January last year.Nigel Hoath, managing director of eConveyancer, says: “Our working relationship with Openwork has gone from strength to strength and is a clear demonstration of the way in which all parties can be winners when there is a commitment to forge […]

AMI concerned by FSA mortgage advice findings

&CThe Association of Mortgage Intermediaries says it’s concerned by the Financial Services Authority’s findings on the quality of intermediaries’ mortgage advice.While the FSA gave larger networks and brokerages a thumbs up, describing them as having “robust” processes in place, smaller firms were found to have work to do to improve their advice and record keeping […]

Pink in search for new MD

Pink Home Loans is in the process of recruiting a managing director following Tony Jones’ resignation last week.

Broad money figures prompt rate rise fears

Annual UK broad money growth at the end of 2006 shot up to 14% – the highest since 1990 – prompting fears of further interest rate rises to combat inflation.


News and expert analysis straight to your inbox

Sign up