Stamp Duty threshold still threatening housing market

My Mortgage Direct claims the major barrier to recovery in the housing market is the 3% Stamp Duty threshold on properties of £250,000 and above. Cath Hearden, joint director of My Mortgage Direct, says the recent increase of the lower Stamp Duty threshold has made negligible difference to first time buyers. She says reluctance or inability to pay the £7,500 levies on property worth more than £250,000 is also preventing many homeowners from moving up the property ladder and preventing the completion of property chains. “We hear from many client who are unwilling to pay ten or twenty th...