Business Advice for all UK firms from starting a business to flotation
Stamp duty suspension fails to revive house sales
The government's stamp duty holiday on house purchases has failed to stimulate demand among homebuyers, according to the Council of Mortgage lenders.
In September the government announced a one-year suspension of stamp duty, raising the minimum threshold from £125,000 to £175,000 in an attempt to provide the declining property market with fresh impetus.
Despite this action the number of mortgages for new house purchases fell 15% in September, down from 41,000 to 34,900.
Banks are becoming even more cautious over their lending terms - with first time buyers on average having to produce 16% of a property's value to secure a mortgage.
Post Date: November 11th, 2008
In September the government announced a one-year suspension of stamp duty, raising the minimum threshold from £125,000 to £175,000 in an attempt to provide the declining property market with fresh impetus.
Despite this action the number of mortgages for new house purchases fell 15% in September, down from 41,000 to 34,900.
Banks are becoming even more cautious over their lending terms - with first time buyers on average having to produce 16% of a property's value to secure a mortgage.
Post Date: November 11th, 2008
.
.
Accounting Advice | Banking & Finance | Business Continuity | Entrepreneurs | HR/Payroll Advice Insurance Advice | International Trade
Internet Advice I.T. Advice | Legal Advice | Marketing Advice | Office Management | Pensions & Benefits Property/Relocation | Recruitment Advice
Starting a Business | Telecommunications | Training/Education Travel Advice | Utilities Advice | Vehicles
copyright © 1998-2018 Newbusiness.
Homepage | Terms & Conditions | Copyright & Trademarks | Privacy Policy | Sitemail & Forum Policy | Sitemap