View more on these topics

A&L hits out at Chancellor on stamp duty

Alliance & Leicester has expressed disappointment with yesterday’s pre-Budget report.

The mortgage lender had hoped the stamp duty threshold would be reformed to help first-time buyers onto the property ladder.

A&L director of mortgages Stephen Leonard says: “Alliance & Leicester is disappointed there was no mention of stamp duty thresholds. Our research reveals that six in ten (61%) FTBs are looking for homes over the current stamp duty threshold of £125,000, rising to nine in ten (91%) living in London.

“This is an additional burden on those first time buyers already struggling with the continuing rise in house prices. First time buyers currently make up around 40 per cent of the housing market. Not addressing the issue of stamp duty will deter first time buyers from getting on the property ladder, with an effect on the entire housing market.

“The current average house price for a first time buyer stands at £151,535, therefore the limit needs to be at least this amount to have any effect. Therefore, A&L will continue to press for first time buyers to be made exempt from paying stamp duty.”


The great bear

Invesco’s Perpetual’s Neil Woodford admits he has played defensively over the past three years and warns that fundamental economic problems remain yet he has still squeezed more than 20% from his income portfolio this year.I do hope this doesn’t put the kiss of death on Neil Woodford but 2006 seems to have been yet another […]

Platform recruits Wyatt as a keyman

Neil Wyatt has joined Platform as key account manager. He will report directly into divisional sales manager Phil Riches and will be responsible for recruiting, developing and identifying key account partners.


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm