Chan­cel­lor to end stamp duty hol­i­day

Yorkshire Post - Property - - PROPERTY -

CHAN­CEL­LOR Ge­orge Os­borne has not ex­tended the Stamp Duty hol­i­day for first-time buy­ers de­spite lob­by­ing from the mort­gage and es­tate agency sec­tors.

The Govern­ment says the Stamp Duty break is in­ef­fec­tive and it will end, as planned, on March 24.

Coun­cil of Mort­gage Lenders di­rec­tor gen­eral Paul Smee said: “It is dis­ap­point­ing to see the Govern­ment with­draw­ing the stamp duty con­ces­sion that ben­e­fits first-time buy­ers. While the con­ces­sion may not have stim­u­lated additional de­mand, it was a sig­nif­i­cant help to home own­ers en­ter­ing the mar­ket.”

The Royal In­sti­tu­tion of Char­tered Sur­vey­ors said end­ing the hol­i­day could dis­tort the mar­ket with a mini boom and bust.

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