|
|
| Industry News |
|
| News » Residential Property Law » First-time buyers warned not to wait for relief on stamp duty |
|
28/08/2008 First-time buyers warned not to wait for relief on stamp duty |
|
First-time buyers should not wait for the stamp duty holiday proposed by the government, but rather find out the future value of a property.
That is the advice given by property website Firstrung that has suggested that the relief on stamp duty will be "impossible to implement"
Paul Holmes, chief executive of Firstrung, pointed out that the previous government had issues "trying to monitor mortgage interest relief", and that therefore attempting to "monitor a situation where only a specific group of buyers doesn't get charged stamp duty would be a nightmare".
Mr Holmes instead urged homeowners not to consider what a property is currently worth, or what it was valued at a month ago, but what it will be worth in a year's time.
According to the Royal Institution of Chartered Surveyors' (Rics), a couple who are first-time buyers and jointly earn £27,516 after taxes would have to save over 100 per cent of their joint salary to get enough to buy a 'typical' home. |
| |
| Related Articles |
09/03/2010
More people used a conveyancing lawyer last month, report finds More people sought the advice of a property lawyer with a view to buying a house in February 2010 than was the case in the previous month.
|
09/03/2010
2010 'will be a good year for landlords' This year could be a good time to seek a conveyancing lawyer with a view to purchasing a buy-to-let property.
|
04/03/2010
Both landlords and tenants 'will benefit from green home scheme' Both buy-to-let landlords and tenants will see benefits from a new green housing scheme announced by the government this week.
|
03/03/2010
Britain 'is becoming a nation of renters' More British people than ever are choosing to rent properties rather than buy them, new research has found.
|
24/02/2010
Landlords 'could be eligible for refunds from letting agents' Landlords of residential properties may wish to contact their property lawyer after it was revealed that they could be eligible for refunds from letting agents.
|
|
News Archive |
|
|
|
|