The mortgage industry has broadly welcomed the decision by Chancellor Alistair Darling to increase the Stamp Duty threshold to £250,000 for first time buyers.
However, some industry experts warn funding concerns remain and mortgage availability is still a major issue. Stewart Baseley, executive chairman of the House Building Federation, says: "The move will helped beleaguered first-time buyers struggling to save the large deposits currently being demanded by lenders. "First-time buyers are vital to the housing market and the shortage of those able to get mortgages has reduced the industry's ability to build the new homes we know this country needs." Alison Beech, business relationship director at Spicerhaart, described the increased thre...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
