4 Jun

NAEA in mortgage help call

NAEA in mortgage help call

The chancellor is under pressure to offer homeowners and first-time buyers temporary tax relief after calls from the National Association of Estate Agents (NAEA).

Among the cuts suggested by the organisation are tax relief on mortgage interest and a stamp duty holiday for those looking to get on the property ladder for the first time.

The NAEA maintains the moves might help the housing market.

Its chief executive Peter Bolton King says: "This would at least ease the difficulty that people in this country are facing and give them the confidence boost that is needed to the market to get back on a more positive footing."

Mr Bolton King said the interest rate alone, which will be reviewed by the Bank of England's monetary policy committee tomorrow, cannot help the property market recover.

The Council of Mortgage Lenders (CML) has also addressed the chancellor recently, outlining measures lenders are taking to reduce potential difficulties facing some mortgage borrowers in the wake of the credit crunch.
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