The Chancellor’s recent announcement regarding changes to the stamp duty system featured heavily in this weekend’s financial press, although opinion on the potential benefits remained divided. The reforms will see stamp duty charged in a similar way to income tax, with different percentage rates charged to each portion of the price. The changes were generally welcomed, but critics in the Financial Times claimed that a major overhaul is still needed, while the Sunday Telegraph reported that any savings in duty could be lost to rising house prices.
Rock bottom rates remain a boost for borrowers however, with brokers in the Independent on Sunday suggesting that lenders could make further cuts in a bid to top the best buy tables.
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