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First Time Buyers Rush to Beat Stamp Duty Hike
Figures released by the Council of Mortgage Lenders (CML) this week showed that lending to first time buyers reached a two-year high in December 2009 with a rush of people trying to beat the end of the Stamp Duty Concession.
Commenting on the figures, Tony Rice of Bedfordshire-based specialist mortgage and insurance brokers TMP Mortgage Zone, said: "The rush to get a foot on the ladder before stamp duty of 1% reverted back from purchases of £175,000 or over to purchases of £125,000 in January 2010, showed just how difficult it is for many people to get their first all important foot on the property ladder. Had the stamp duty holiday been maintained then it could have helped to keep the market moving more steadily on an upward curve by helping more people get that all important first time buyer mortgage."
[ 11-02-2010 ]
