Budget Briefs

All today’s news on the website considers the implications of yesterday’s Budget.

The measures as they affect lenders and deposit takers are:

• Double stamp duty on Islamic mortgages to be ended

• Stamp duty on house purchase – no change

• Stamp duty on business property frozen. Duty on leases replaced with 1% charge on rent payments

• Government to study the creation of a market for long-term fixed rate mortgages

• Research is being conducted into increasing the supply of housing

• £250-£500 baby bonds introduced with child trust funds

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