Family BS urges abolition of stamp duty for downsizers Mortgage Finance Gazette

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Stamp Duty for downsizers should be abolished and incentives provided for landlords to turn empty offices, shops and warehouses into living accommodation.

This is according to the latest survey on consumer financial sentiment from the Family Building Society.

Brownfield sites should also be developed according to over 50% of nearly 2,300 of the society’s members who took part in the survey.

Over 50% want stamp duty abolished while 48% support turning empty commercial properties into living accommodation before building is allowed on the Green Belt.

Commenting on the findings, Family Building Society director of marketing Alistair Nimmo said: “Clearly our members, as we do, believe that Stamp Duty is a disincentive to move and remains a real issue for all would-be house buyers, and many members would like it scrapped altogether.

“They can also see the advantages of building on brownfield sites while a surprisingly high number want to see abandoned warehouses, empty shops and offices converted into homes, before building on green belt.”

He also said many also wanted to see the planning process simplified and local residents to have a final say in certain planned developments.

The survey was conducted before July’s general election was called.