Housing sector affected by Budget

Chancellor Alistair Darling has brought some good news to house buyers with the governments budget announcements. Stamp duty is set to be demolished for first time buyers for properties under £250,000, this could save buyers around £2,500. The budget also included the governments plans to extend their Support for Mortgage Interest scheme, which allows homeowners that are struggling with their payments to receive support at a rate of 6.08%.

Although this is good news for first time buyers looking for properties under £250,000, the announcement that properties worth over £1 million would see stamp duty rise by 5% caused concearn for others.

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March 29^th 2010

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