Buyers 'may have missed out on stamp duty break'
The stamp duty holiday on properties costing less than £175,000 in the UK is to end imminently, which may mean first-time buyers continue to experience difficulties when it comes to climbing the housing ladder.
This is despite the fact that, according to one sector commentator, winter is traditionally a time of property prices falling as fewer people look to move.
Katie Tucker, technical manager at mortgageforce, said: "The problem, of course, is a lot of [first-time buyers] have missed the boat on the stamp duty holiday so I'm expecting a lull now as well, where they will hang around to see whether that will be extended."
Such comments may inspire Britons to look for flats to rent in Shoreditch or another part of London, rather than forking out to buy a home.
The Council of Mortgage Lenders recently reported that gross mortgage lending increased by five per cent in October 2009 to £13.5 billion.
Written by Martyn Glynn
Published 25th November, 2009
© 2009 Estates IT Limited
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While winter is traditionally a time of house price falls, buying a home may still be out of reach for many Britons if they have missed the stamp price holiday.