Budget 2011: Mortgage Interest Scheme extended

clock

Chancellor George Osborne reports in today's Budget the government will extend the Support for the Mortgage Interest Scheme until 2013.

It is as yet unclear if the interest rate charge will change. After the scheme was heavily trailed in today's morning papers, he also confirmed the plans for a £250m scheme for first-time buyers to help 10,000 families get on the housing ladder will be funded by the bank levy. Osborne also revealed that stamp duty will be based on the mean value of property in a portfolio not the bulk cost, which Osborne said will raise another £1bn for UK coffers.

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Mortgages

Client conundrum: Mortgage overpayments versus investments

Client conundrum: Mortgage overpayments versus investments

1.4 million people will see mortgage deals end this year

Laura Suter
clock 22 February 2023 • 3 min read

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read