Stamp duty measures 'will have modest impact'
One of Britain's biggest mortgage bodies has criticised Labour and Conservative pledges on stamp duty relief for first-time buyers, claiming it will have a "modest impact".
In its latest News and Views edition, the Council of Mortgage Lenders (CML) evaluated the effect of policy proposed by each of the three main political parties on the housing market and mortgages.
Liberal Democrat policy to reform court powers for home repossessions raised concerns for the organisation, which warned that mortgage availability could be restricted as a result.
The CML admitted that each party offered significant proposals to try and tackle difficulties for potential buyers
"It is disappointing, however, that the biggest single issue affecting the aspirations of home-owners - the long-term shortage of mortgage funding - has not been addressed," they added.
Recent opinion polls are indicating that a hung parliament is increasingly likely, with less than a fortnight until Britons go to the ballot box.
News that stamp duty may have a lesser impact on the ailing housing market than hoped for by the government, could encourage more people to look for property to rent in the London of Tower Hamlets, or elsewhere in the UK, instead.
By Andy Britten
Published 26th April, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
St John's Wood brings the village atmosphere to the capital
St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle.
Read Article ... Published on 26th May, 2015
Yeading: Enjoy peaceful city living in an up-and-coming area
Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.
Read Article ... Published on 26th May, 2015
Hanwell: A green, peaceful environment for Londoners
Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.
Read Article ... Published on 26th May, 2015
Mitcham Carnival announced for June
Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.
Read Article ... Published on 22nd May, 2015
Hammersmith and Fulham Council start Park consultation
Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.
Read Article ... Published on 22nd May, 2015
New conservation areas planned around Waltham Forest
Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre.
Read Article ... Published on 20th May, 2015
Sutton Council announces Take Part Take Pride summer festival
Sutton Council has announced its Take Part Take Pride summer festival.
Read Article ... Published on 20th May, 2015
Brent Council teams with Brent Housing Partnership in new project
Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.
Read Article ... Published on 19th May, 2015
Gardeners prepare for Islington In Bloom
Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.
Read Article ... Published on 15th May, 2015
New fitness centre set to open in Manor Park
A new fitness centre is expected to be opened in Manor Park by Newham Council.
Read Article ... Published on 15th May, 2015
With a leading mortgage body indicating that the benefits of stamp duty relief will be modest, more people may be attracted to look at property to rent in the London borough of Tower Hamlets, or elsewhere in the UK, as a result.