MPs CALL FOR STAMP DUTY REMOVAL

November 18, 2014 by in category Mortgage News with 0 and 0

A group of MPs has recommended that older people looking to ‘downsize’ should not have to pay stamp duty on the purchase of a moderately-priced home.
In its November News and Views publication, the Council of Mortgage Lenders noted that members of the all-party Parliamentary Group on Housing and Care for Older People argues many older people occupy homes that are too large, difficult to maintain and expensive to run.
The main thrust of the argument is that it believes encouraging older people to move into the right-sized accommodation for their needs would make more homes available for younger, growing families.

The finding of the report were that around eight million people aged over 60, in seven million homes, are interested in ‘down-sizing.’

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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