The Labour party wants to make it easier to own a home by adding the stamp exemption to shared home ownership. Shared home ownership enables individuals to purchase a share in a home, then slowly rent or purchase the remainder. Basically, stamp duty is a tax on home purchases. This would help because a home purchaser would only have to pay the tax on his share of the home. The government does not favor this plan, a suggested alternative was to pay the entire tax in stages.
Now that you've read this are you interested in talking to a mortgage adviser? Fill out the quick form below and you'll be contacted soon by an independent, regulated mortgage specialist for a free no obligation quote.
and £15,000 on your Mortgage
Get a custom rate and see how much you will save
by filling out the quick form below.