Stamp duty relief extension urged
THERE are calls for the Government to extend its firsttime buyer stamp duty holiday, due to end next March.
The Council of Mortgage Lenders has added its voice to growing demands, saying that after the previous stamp duty concession ended in December 2009, the spike in sales before the end of the concession was matched by a corresponding slump.
The CML has warned that the same thing could happen next spring and add that this would be “unhelpful, given the fragile state of market confidence”.
The council is also calling for a long-term fundamental review of stamp duty and the way it is structured.