Ex­tend stamp duty hol­i­day, say lenders

Yorkshire Post - Property - - PROPERTY -

THE Coun­cil of Mort­gage Lenders is call­ing for the stamp duty break for first-time buy­ers to be ex­tended be­yond March 24 amid fears of a spring slump.

Its chief econ­o­mist Bob Pan­nell says: “The CML ex­pects first-time buyer trans­ac­tions to pick up as the con­ces­sion end date looms nearer. For those who miss the dead­line, the credit-con­strained en­vi­ron­ment we find our­selves in means first-time buy­ers will in­creas­ingly have to fund stamp duty from their back pock­ets, so the end of the con­ces­sion will have a real im­pact.”

The CML and RICS say house sales have edged up slightly as first-time buy­ers look to beat the end of the stamp duty hol­i­day. They also fear mort­gage lend­ing will be down.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.