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David Bexon, Managing Director, SmartNewHomes.com, comments ahead of the pre-budget report:
“The Chancellor has no choice but to use his first budget to restore confidence to first time buyers across the country. Stamp duty must be scrapped for this group to help them take their first step onto the housing ladder. We need less tax burdens and more help for first time buyers, who in some parts of the country need the equivalent to an entire year’s salary upfront to buy a property.
“We also need more commitment to longer term, fixed rate mortgages which will prove valuable in offering vulnerable buyers security.
“The Government needs to take action now and scrap stamp duty for first time buyers if it does not wish to be responsible for a decline in ownership for first home buyers. They are crucial to the success of the economy and now is the perfect opportunity to bring them back to the market.”
See Also: Press Releases (371)
Date Published: 05 March 2008
