Government’s cunning plans will not help borrowers and are irresponsible to boot

What a waste of time the government\'s Stamp Duty changes are. Surely an exemption up to £250,000 was the least the market needed. Raising the threshold by £50,000 is a token gesture, designed to appease the masses after chancellor Alistair Darling\'s latest gaffe about the state of the economy. Cabinet members are becoming more like characters from Blackadder every day - Darling is Darling and Prime Minister Gordon Brown is Baldrick.

How many of my clients will this move help? To be frank, none. And offering first-time buyers 30% loans is bordering on the irresponsible too. The government’s efforts would be better directed towards negotiating with lenders to provide specific first-timer mortgages, not throwing public money at consumers and condemning them to years of debt.

Stuart Gregory

Mortgage planner
LEBC Group