Rics gives a mixed review of the Budget
www.moneynews.co.uk > Housing market > Rics gives a mixed review of the Budget
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Money News |
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Rics gives a mixed review of the Budget
Thu 13th Mar 2008
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Regarding Alistair Darling's call for lenders to make long-term fixed-rate mortgages more appealing to consumers, Simon Rubinsohn, Rics chief economist, said many borrowers will continue to have a preference for interest rates that reflect economic conditions.
He also called for greater transparency on mortgage arrangement fees, which have risen significantly in recent years, proving "increasingly burdensome" for homeowners who are refinancing regularly.
Commenting on the chancellor's decision to reduce stamp duty for shared equity schemes, Rics senior economist David Stubbs said that although this was as a "sensible policy that will lessen the tax burden on financially stretched households", it would help too few people.
He called for the programme to be expanded to cover more people, such as first-time buyers who are struggling to get on the property ladder.
In other news from Rics, its latest UK housing market survey revealed that house prices fell at "near historical levels" in February.
Related News : Housing market |
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