The boss of a leading property company has implored the UK government to echo its American counterpart in providing a housing rescue bill.
Tony Addinall, chief executive of Badger Holdings, said measures announced by the US government, which could see struggling homeowners refinance their mortgages with cheaper state-backed loans, should prompt UK politicians to act.
Stamp duty is a particular gripe to the firm, which sees the tax as a major barrier to first-time buyers struggling to get into the market.
Mr Addinall said:
“While we are not currently in the same position as the US, we need to follow suit and take action.
“A stamp duty holiday to stimulate demand at all levels of the market, updating the stamp duty thresholds by adding further bandings, and a Bank of England-supported mortgage for first-time buyers with flexible lending criteria will encourage buyers back into the market.”
Badger Holdings is the parent company to Townends and Regents estate agents, dot financial services and Tyser Greenwood surveyors.
A statement from the firm added it had been urging the government to take action “for months” and had lobbied ministers over the stamp duty issue.
Related posts:
