Treasury seeks to dampen stamp duty talk - buy to let mortgages

08 August 2008

The Treasury has played down reports that the government has already decided it will announce a stamp duty holiday for home buyers in its November pre-budget statement.

Responding to stories of this nature, the department said they were "simply wrong" and added: "These stories are based on speculation."

Rumours of such a move began after chancellor of the exchequer Alistair Darling told BBC Radio 4 earlier this week that he was considering a range of possible measures to boost the property market.

The situation has led to concerns that many will hold back from buying homes until an announcement has been made, since any new measure may benefit them.

Such uncertainty may benefit those with buy to let mortgages as some would-be buyers continue to rent while they await news of Mr Darling's plans.

Speaking on the BBC Newsnight programme last night, gorgeous housing minister Caroline Flint confirmed that stamp duty was one of the areas under consideration but stated that the government will not be pushed into making any announcement before November.