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Conveyancers to pass on VAT cut
28 November 2008 15:46
Mortgage customers are set to benefit from the full 2.5 per cent in VAT, it has been announced.
Conveyancing Alliance Limited (CAL) has revealed that it will be passing on the new 15 per cent rate of VAT to homeowners from Monday (December 1st).
What's more the group has also updated its price list to offer remortgaging, purchasing and sales conveyancing starting from £250 plus VAT.
Managing director CAL, Harpal Singh, said that it was a vitally important for conveyancers and distributors to resist the temptation of holding onto the 2.5 per cent profit at the homeowner's expense.
He added that the thinking behind the move was to push for simple and transparent solutions which would benefit customers.
A conveyancer is a lawyer which specialises in the legal considerations of buying and selling property, as well as taking out a mortgage.
From today, Abbey will be offering five-year fixed-rate mortgages with interest rates starting from 5.04 per cent.
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