FTAdviser.com

AHIPP calls for stamp duty suspension below £200k

Story by: Gemma Westacott
Magazine: FTAdviser
Published Monday , June 30, 2008

The Association of Home Information Pack Providers (AHIPP) has called for the suspension of stamp duty on all house purchases with a value of less than £200,000.

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The association said action was urgently required to kick start the troubled housing market, adding that this need was heightened by predictions that transaction volumes will fall to around 650,000 this year.

AHIPP director general Mike Ockenden said affordability was currently a key factor for home buyers, especially first time buyers.

"With mortgage lenders tightening their credit criteria, every penny counts for those wishing to move home or buy their first property," he said.

"By suspending stamp duty on lower cost homes many would find that they could now afford to move or in the case of first time buyers meet lenders criteria."