A study by Alliance & Leicester Mortgages has shown that over two thirds of first time buyers do not realise that stamp-duty was an additional expense after beginning the mortgage buying process. Half of the people questioned have said that stamp-duty was either delaying their attempt to get onto the property ladder, or stopping them buying their first home. For those buying their house 30 years ago, only 15% said that the duty was an issue, while these days, over 60% have said that it has or will cause a problem. A third of the respondents did not even know what stamp-duty is!
Our view
A little worrying.