Extend Stamp Duty Holiday says London Mortgages Brokers, London Mortgages Advice Monday, 7th December 2009

Stamp tuty should be extended. And this view is also put forward by a of Labour backbenchers who have tabled an Early Day Motion for the extension of the Stamp Duty holiday beyond December 31 2009.

The threshold at which Stamp Duty is charged is due to revert to its previous threshold of £125,000 on Jan 1st 2010 after this was changed last September when, properties costing less than £175,000 were made exempt from the tax.

It is recognised that the current exemption has helped stimulate the housing market which has witnessed rising prices for the past seven months. And it should be noted the need to continue helping families and individuals to buy property in the current economic climate. The government should extend the Stamp Duty exemption in order to stimulate the housing market further and to help the economy grow in 2010.

As the housing market is on the road to recovery it is an important aid to housing revcovery. In particular the return of first time buyers. If the Stamp Duty exemption is not extended at this fragile point of recovery, it is feared that months of work will instantly unravel causing a great deal of damage to the market.