The Times reported that there is pressure on the Chancellor to suspend stamp duty, in a bid to free the market and increase lending. The Royal Institute of Chartered Surveyors urged Mr Darling to introduce a ‘short term holiday’ followed by longer-term reform and to suspend any stamp duty for properties less than £150,000.
The Daily Mail looked at the benefits of fee-free long-term tracker rates, which may prove worthwhile for those willing to take a gamble. Many economists believe the Bank of England base rate will fall later this year, so opting for a tracker now could certainly pay off. Finally, the Daily Express reported that the FSA has called on lenders to be more flexible and sympathetic towards borrowers who fall into difficulties. The city watchdog said is has found evidence that some banks were not handling arrears and repossessions fairly, and pinpointed borrowers with poor credit history as the worst affected.