NAEA calls on Chancellor to regulate estate agents and exempt first-time buyers from Stamp Duty

NAEA Propertymark is calling on the Chancellor to exempt both first-time buyers and downsizers from Stamp Duty, and to scrap the 3% surcharge on the purchase of second homes.

In views submitted to Philip Hammond ahead of his Budget next month, the NAEA also says it wants to see a ‘Help to Buy’ type of scheme introduced for those buying secondhand property.

The NAEA has also reiterated its call for the regulation of estate agents.

In addition it wants to see improved guidance around the Consumer Protection Regulations.

Finally, it is calling for stringent codes of practice to ensure that “event fees” are brought to the attention of prospective buyers of properties such as leaseholds and retirement flats.

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3 Comments

  1. AgentV

    The lack of comments on this story compared to other stories on PIE today is just mind blowing…..is it a reflection of the current relevance of the organisation.

    I strongly urge the NAEA to start engaging with the majority of their smaller members and stand up for them.

    A very good start would be to make sure other larger members are not allowed to ridicule the businesses of their smaller counterparts, whilst still retaining membership of the same organisation. It makes everyone, including the organisation itself, look unprofessional.

     

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  2. VFMagents

    Did the NAEA have discussions with the Welsh Government and have any influence in the recently announced Land Transaction Tax for Wales, which will replace the UK Stamp Duty from April 2018?

    Looking at what they’re lobbying for from the Chancellor for stamp duty, if they did, it must have fallen on deaf ears.

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  3. forwardthinker

    Better late than never. Let’s see what happens…Our sale’s on flats and apartments are minimal, whilst the market for family houses are selling well. All positive and I hope Hammond listens

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