|
Welcome to this week’s property newsletter. Of course news this week has been taken up with Alistair Darling’s announcements regarding the pre-election 2010 budget and what this means for the property sector. The news has been good for nine out of ten first time buyers who will be exempt from paying stamp duty on homes below £250,000. But not quite such good news if you live in London, as property analysts are claiming that changes to stamp duty on home sales effectively amount to a ‘tax on London’.
Elsewhere, in the mortgage arena big banks are objecting to the FSA's ban on self-certified mortgages stating that the proposal would impact negatively on the self employed, trigger an increased use of fraudulent income documentation and increase lenders' administrative costs.
On a lighter note, there are signs that the property market is starting to return to normal with research showing a 5.6 per cent jump in the number of homes for sale in March. And a careful home owner in Wales who is looking to sell his portfolio of Welsh holiday homes - but only to nice people!
Nine out of ten first-time buyers will be exempt from paying any stamp duty when they purchase a home, with the tax break funded by a surprise levy on £1million homes.
The Telegraph, 24/03/10
Click here for more details
Changes to Stamp Duty on home sales effectively amount to a "tax on London", property analysts have warned.
The Telegraph, 25/03/10
Click here for more details
Contrary to popular belief, people buying £1m houses are – apparently – not necessarily millionaires.
The Telegraph, 25/03/10
Click here for more details
Major high street banks are fighting the regulator's plans to ban "liars' loans", better known as self-certified mortgages, on the grounds that it would hurt the self employed.
The Telegraph, 23/03/10
Click here for more details
The property market is returning to more normal conditions as increasing numbers of people put their homes up for sale, research has showed.
The Telegraph, 23/03/10
Click here for more details
Last year saw a remarkable turnaround in the UK property market and although there will be further challenges in 2010, most notably the general election, a recovery is underway, according to a new report.
Property Wire, 24/03/10
Click here for more details
One extremely careful owner has put his portfolio of Welsh holiday homes on the market. Only ‘nice people’ need apply.
The Times, 21/03/10
Click here for more details |
