CML publishes Pre-Budget wish-list

The Council of Mortgage Lenders is calling on chancellor Gordon Brown to change the stamp duty regime, which it says is contributing to the problems facing people trying to get on the property ladder. The council says that stamp duty on property purchases has brought a near 600% increase in revenues to the government since the 1993-4 fiscal year. In addition to a stepped or "graduated" stamp duty systems, the CML also says that the twin issue of IHT and income support for mortgage interest (ISMI) need to be revisited in light of the steep rise in property prices. Instea...