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