Stamp duty holiday initiative criticised

The governments decision to extend the stamp duty holiday on properties under £175,000 has been met with criticism by industry experts.

Estate agents and mortgage specialists have expressed concern over the initiatives effectiveness.

One such body is independent mortgage firm John Charcol, which intimated the tax break could be managed more fairly.

"I think what the government did in terms of extending the limit to £175,000 was certainly helpful but it was only a small part of what they should have done," explained company spokesperson Ray Boulger.

He added it would be fairer to raise the levy on buying a home to two per cent, but expand the bracket to £250,000.

This, Mr Boulger explained, would mean those at the lower end of the market were not targeted, while the government would make more from those purchasing more expensive buildings.

His comments may be of interest to homeowners considering whether to move to a larger property or extend their existing one with an improvement such as a conservatory.