Stamp duty holiday 'made a real difference' to mortgage applicants

Date:Monday 10th May 2010
Author: Max Freedman

Mortgage applicants benefited from the stamp duty holiday last year and first-time buyers will continue to do so, says a property expert.

Director of MyMortgageDirect Catherine Hearnden suggested that the overall stamp duty holiday should not have been stopped as early as it was, but stressed that it is a positive thing that first-time buyers can still save some money with the help of the government's policy on the charge.

In her view, one factor that will not have affected mortgage figures much is the bad weather the UK has been experiencing, although the heavy snow may have had an impact earlier in the year.

She made her remarks after the Bank of England revealed that the number of loan approvals for house purchases increased in March to 48,901 from 46,882 in February.

Ms Hearnden explained: "I think we should expect to see this over the coming months. As long as we see growth, I don't think it matters if the growth slows a little bit now and again."