Mortgage experts have dismissed the Budget's housing proposals as 'largely ineffectual' and say the Government should have gone further to boost the market, especially on stamp duty.
Alistair Darling confirmed the current stamp duty holiday will be extended until the end of the year. All properties purchased for less than £175,000 will be exempt, a policy that the Chancellor claimed will benefit 60% of housing transactions. He pledged to continue to back the Government's Mortgage Support scheme to help borrowers stay in their homes if they fall on hard times. The Government's shared equity scheme, HomeBuy Direct, will also be given a further £80m of funding. However, while providers such as Abbey welcomed the extension in the stamp duty holiday, they were disappoint...
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