Eurozone crisis could be a threat for future loans and mortgages.
Council of Mortgage Lenders (CML) said short-term prospects for the housing market were linked to the sudden change.
Martin Stewart, director of independent UK mortgage broker London Money, said: “Few could argue that the demand for property, already weak, has been dealt a further blow by the deterioration of the eurozone.” source: BBC
All this means a change in stamp duty too.
“…First-time buyers who bought properties valued up to £250,000 were exempt from paying 1% stamp duty until 24 March, but now the concession has come to an end….”
How does the future for first-time buyer look?
Uncertain is a good answer – but no one knows what tomorrow will bring!