Key players in the mortgage industry have been calling for stamp duty reform in the lead-up to the Budget.
In the Budget yesterday, there were some changes including scrapping multiple dwellings stamp duty relief and stamp duty for nominee purchases.
Prior to the Budget, some called for the Chancellor to scrap downsizer stamp duty to encourage people to move, thus freeing up more houses for other buyers, and many have said that stamp duty reform for first-time buyers is needed.
Rightmove has also said that stamp duty needs to better account for regional variation, with a more “localised approach needed”.
Propertymark has also suggested that last-time buyer stamp duty should be reformed, and lowering stamp duty on buy-to-let (BTL) property should also be examined.
The Homeowners Alliance has gone further and said that the tax should be scrapped for anyone buying a home to live in as “fruitless fiddling has done little to address the fundamental problem that stamp duty is a tax on homeownership that’s a major obstacle to the housing market functioning properly”.
With many aspects of stamp duty being called on for reform, we are asking in which area of the market is stamp duty reform most needed?
Where is stamp duty reform most needed?
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
