The Council of Mortgage Lenders (CML) has issued a call to the Government to raise the nil stamp duty threshold from its current lowly £60,000 position to a much higher figure to help first time buyers at the lower end of the property market.
Our view
This is a sensible request. The average property purchase price in the UK is just under £200,000 and we suggest that there are not many properties that sell for below £60,000!
Perhaps this is by design. The Chancellor is quite happy collecting ever greater amounts of revenue from property sales.