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Freeze Stamp Duty relief at 250k for First Time Buyers
Nationwide has urged the Chancellor to maintain the Stamp Duty threshold at £250,000 for first-time buyers, ahead of his Autumn statement.
The current threshold was introduced two years ago and is due to end in March 2012.
"We don't know which way it's going to go tomorrow in the Autumn statement, but after the housing strategy announcement, we think it's a good time to review the Stamp Duty strategy," said a Nationwide spokesman.
The mutual also urged the government to extend the higher investment ISA limitof £10,680 to cash ISAs, up from the current £5,340 to help deposit savers.
"If someone has saved for three years and is lucky enough to be ready to look for a home, they lose the tax benefit if they move cash out of an equity ISA," he added.
Graham Beale, Nationwide chief executive, called to extend relief, adding: "At a time when the Government is taking significant steps to help the housing market, such as the launch of the New Build Indemnity Scheme, it would be a step back if they removed the concession on stamp duty for first-time buyers."
Nationwide confirmed it has lent £1.2bn to 10,000 first-time buyers in the last six months.
