4
Jun
NAEA in mortgage help call
The chancellor is under pressure to offer homeowners and first-time
buyers temporary tax relief after calls from the National
Association of Estate Agents (NAEA).
Among the cuts suggested by the organisation are tax relief on
mortgage interest and a stamp duty holiday for those looking to get
on the property ladder for the first time.
The NAEA maintains the moves might help the housing market.
Its chief executive Peter Bolton King says: "This would at least
ease the difficulty that people in this country are facing and give
them the confidence boost that is needed to the market to get back
on a more positive footing."
Mr Bolton King said the interest rate alone, which will be reviewed
by the Bank of England's monetary policy committee tomorrow, cannot
help the property market recover.
The Council of Mortgage Lenders (CML) has also addressed the
chancellor recently, outlining measures lenders are taking to
reduce potential difficulties facing some mortgage borrowers in the
wake of the credit crunch.
