Buyers unhappy about government tax changes say National Homebuyers

Potential homebuyers are not satisfied with the government's recent pre-budget changes regarding tax and housing.

[UKPRwire, Wed Nov 14 2007] A survey from HotProperty revealed that one third of those questioned thought the increase in inheritance tax allowance would make no difference to them.

In addition, 85 per cent called for the stamp duty threshold to be raised in order to make it easier for people to buy a house.

The findings will make uncomfortable reading if you are looking for someone to buy your property as they show a general unhappiness about the state of the market among buyers.

"The 2007 pre-budget report was disappointing for the property industry and for UK home-buyers, as our poll shows," said Shawn Luetchens, managing director of HotProperty.

"The increase to the inheritance tax threshold was a positive step, but… it was never going to deliver the relief taxpayers were looking for.

"What's more, stamp duty reforms were much anticipated and are still strongly backed by buyers. 85 percent of people want the threshold increased – even a small rise would have been a helping hand for first-time buyers who are at the lowest in a decade," added Mr Luetchens.

Fast property sale expert Julian King of UK property firm National Homebuyers adds, "The stamp duty amendments are a nice political point scoring exercise, but in reality it doesn't help the homeowner.

"Steps need to be taken to assist those who are looking to sell property quickly. Reckless lending practices of the lenders has put tens of thousands in hock and they need a solution.

"Selling a property on the open market is a slow, costly, laborious process. We are pleased that as UK leaders in quick house sales, National Homebuyers is ready to assist thousands more homeowners who are looking for a fast property sale.

"However, it's making sweeping changes that will assist first time buyers get on the market that will stop the increase in repossessions as sellers find that there is no-one available to buy their home".

Mr King is a director of National Homebuyers, the UK's largest quick property sale firm, guaranteeing to make an offer to purchase any property surveyed for vendors who need a quick property sale.

The Conservative Party recently revealed that it would raise the threshold for stamp duty from £125,000 to £250,000 if it came to power.

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