Transaction costs lowered for more borrowers
Half of mortgage borrowers avoided stamp duty in September - an encouraging sign for improvement in the property market, according to the Council of Mortgages (CML).
Statistics from the CML showed that 51 per cent of homebuyers avoided the stamp tax in September, compared to 22 per cent in the same month last year.
Higher lending levels could see lenders introduce a greater range of products onto the market, which might benefit Brits looking to take out mortgages for professionals.
Michael Coogan, director general of the CML, said it was encouraging to see transaction costs being lowered for more borrowers.
Although house purchasing levels for September were 57 per cent down on last year's monthly figure, Mr Coogan argued that banks and building societies do want to support homeowners.
"If the pricing and volume of interbank lending continues to improve, this should help the flow of mortgage lending," he added.
Chris Wood, president of the National Association of Estate Agents has called on the government to suspend stamp duty, describing the tax as "unforgiveable" during the current economic downturn.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
Statistics from the CML showed that 51 per cent of homebuyers avoided the stamp tax in September, compared to 22 per cent in the same month last year.
Higher lending levels could see lenders introduce a greater range of products onto the market, which might benefit Brits looking to take out mortgages for professionals.
Michael Coogan, director general of the CML, said it was encouraging to see transaction costs being lowered for more borrowers.
Although house purchasing levels for September were 57 per cent down on last year's monthly figure, Mr Coogan argued that banks and building societies do want to support homeowners.
"If the pricing and volume of interbank lending continues to improve, this should help the flow of mortgage lending," he added.
Chris Wood, president of the National Association of Estate Agents has called on the government to suspend stamp duty, describing the tax as "unforgiveable" during the current economic downturn.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
