Chancellor to end stamp duty holiday
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.