20-06-2007
Stamp duty should reflect inflation says building society
The current chancellor of the exchequer Gordon Brown has been called upon to give more help to homebuyers when he takes over from Tony Blair, it has emerged.
According to Nationwide Building Society, homebuyers would find a revision of stamp duty regulations beneficial as the numbers exposed to high levels of stamp duty would be restricted.
Indeed, Nationwide believes that stamp duty payment levels should reflect and be based upon house price inflation levels.
"We call upon [Mr Brown] to take a stand and make significant changes to show that the nation's new prime minister is committed to making a difference," said Stuart Bernau, executive director of Nationwide.
"Helping [mortgage borrowers] would give a clear signal to the country that he is committed to helping family finances," he added.
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