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‘Decorating, iPads or televisions; this is not what the payment break was designed for’ – Star Letter 22/05/2020

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  • 22/05/2020
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‘Decorating, iPads or televisions; this is not what the payment break was designed for’ – Star Letter 22/05/2020
Each week, Mortgage Solutions and its sister title Specialist Lending Solutions run a Star Letter feature, in which we collate the top comments posted under our articles.

 

The first comment was a reaction to the article: FCA considers 12-month mortgage payment holiday – reports 

Terry Arch said: “I am all for helping people out but, I have come across people who have spent their money on other things such as decorating, buying stuff for the garden, iPads or televisions.  

This is not what the payment break was designed for.  

We must not forget about the lenders cash flowThis could put those lenders at risk with no income. We need to think things through before making blanket statements,” he added. 

 

Scrap stamp duty 

The second comment was in response to last week’s reader comments, under the article: ‘Stamp duty should be replaced with property taxes’ – Star Letter 15/05/2020 

Michael Hall said: Window tax was dropped because of its unpopularity – and the fact owners bricked them up to save money – and it’s time for stamp duty to go the same way.  

Every potential house purchase not proceeded with because of the ridiculous ‘cost to move’ loses the Treasury a small fortune in VAT on the replacement of carpets, curtains, furniture and other renovations.  

He added: “But of course, this expenditure of moving pumps money into the economy. 

 

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