Property market rush expected before stamp duty holiday ends
The UK government is tonight under renewed pressure from consumer groups in the UK with the forthcoming ending of the stamp duty holiday on 31 December. Under recent regulations introduced by the government, homes with a the value of under £175,000 will not attract stamp duty if the deal is completed prior to 31 December at which point the system reverts back to "normal". However, there are calls for the stamp duty exemption to be extended as not all analysts are convinced that the UK property market has turned the corner.
As we await the pre-budget report on 9 December there is hope rather than expectation that the holiday will be extended but the pressure is certain to grow on the UK government between now and the pre-budget report. It was interesting to see that recent figures from the Council of Mortgage Lenders showed that first-time buyers are now coming back into the market as mortgage lenders look to reduce their deposit requirements, which until now have effectively barred many first-time buyers from the market.
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I didnt mention the word small in my comment ! click on the "source" button to see who "published" the report LAND IN RANGSIT This is very un accurate report rental property- tenants not told of foreclosure-pending sale Apply for one of these 1 Euro houses www.PropertyMarket.eu World Capital Markets
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