Stamp Duty 04 10 2007 - News Archive

Stamp Duty

David Cameron, leader of the Conservative party stated on Andrew Marr’s BBC1 show property prices are out of the reach of many first time buyers. We are experiencing the lowest rate of first time buyers for over 27 years.

He suggested they would look to do away with stamp duty on homes under £250k. He said this would make it financially easier to get on the property ladder. His shadow chancellor George Osborne also stated that the party aim to lower the inheritance tax for families.

Landlords

A recent study by Ezylet.co.uk stated that a fifth of all landlords would take their investments out of the UK and buy abroad instead if interest rates rose to 6%. If rates rose to 6% they believe it would effect ¾ of residential buy to let investors and 41% think it would destroy their profit margins.

Ezylet’s marketing director Myak Homberger said that the buy to let market has become very popular over the last few years. It has attracted a lot of first time investors who are investing to supplement their income or to fund a pension. They are working with The National Landlords Association to find ways of increasing support to landlords.
 
:: Added on: 04:10:2007 ::

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