Stamp duty reform is at the top of the industry's wish list for the Autumn Budget, alongside more detail on the new first-time buyer scheme announced last month. The scheme would let borrowers get onto the ladder with a 2.5% deposit and mortgages of up to 95% loan-to-value, compared with a 5% deposit under Help to Buy, but industry players want clarity on how Your First Home and the proposed First Time Buyer ISA will work. Quilter's Ian Futcher says support for buyers must be paired with more housing supply and economic stability, while TAB's Duncan Kreeger calls the property market the worst he has seen in 20 years and urges a stamp duty holiday, deregulation of the private rented sector and scrapping the planned Mansion Tax. Trinity Financial's Aaron Strutt wants stamp duty reform and incentives for older people to downsize, and John Charcol's Nick Mendes says stamp duty should be abolished or given targeted relief for downsizers.
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