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MPs Demand Extension of Stamp Duty Holiday
A group of Labour backbench MPs have tabled an Early Day Motion in the House of Commons calling for the Stamp Duty holiday to be extended beyond 31 December 2009.
Since September 2008, any properties costing less than £175,000 have been exempt from stamp duty. However, the exemption is due to revert to only those properties costing less than £125,000 on 1 January 2010.
Tony Rice, of Bedfordshire-based specialist mortgage and insurance brokers TMP Mortgage Zone said: "I welcome the news and support the motion. Over the last few months we have begun to see a slight recovery in the housing market and more first time buyers feeling confident enough to take out a new mortgage. The danger of reverting back to the old stamp duty threshold is that these slender green shoots of recovery are snuffed straight out."
[ 03-12-2009 ]
