Paul Chafer made a valid point when discussing Stamp Duty, a tax that I think we all agree is in need of urgent review and reform.
How this can still exist is beyond me, and I hope that the government takes the necessary steps to ensure that the house buying process is made easier for everyone.
With Stamp Duty continuing to cause many aspiring buyers to reconsider their options, the move by Alliance & Leicester and Britannia could not have come at a worse time.
The market is fragile enough as it is and at this time lenders and brokers should be making efforts to encourage people onto the ladder – but if lenders continue to stretch affordability then I can only see the rental market growing, which will be a damning indictment on the state of the UK market.
Just 12, or even six months ago the market was being praised for its innovation, but it seems that this does not stretch to the first-time buyer market.
Via e-mail
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