“Changing the initial threshold to £120,000 is not sufficient, it is a total cop out by the Chancellor, who is doing nothing more than playing lip service to his critics. It is no better than leaving the threshold at £60,000.
“It is virtually impossible to purchase a property at £110,000. To have any significant impact at all the threshold should have been raised to, at the very least, £150,000. Stamp duty was never meant to be an all-encompassing tax on house purchase, but that is exactly what it has become.”
“It is an unfair tax that penalises first-time buyers. As mortgages have increased by 150 % since the stamp duty was last reformed first time buyers are struggling to raise a sufficient deposit. It is crucial for the survival of the market that first time buyers are encouraged to enter the market.”
