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Mortgage lenders asks Minister to back ‘phased approach’ to Stamp Duty deadline

New UK Finance CEO holds talks with Housing Secretary at Ministry covering Stamp Duty but also leasehold and cladding issues.

Nigel Lewis

postings stamp duty

A senior representative of the mortgage industry has been talking with housing secretary Robert Jenrick about the Stamp Duty holiday deadline, it has been revealed, calling for a ‘phased transition’.

David Postings (main pic), who is the new CEO of trade association UK Finance, told subscribers to his new blog yesterday that he had visited the Ministry of Housing, Communities and Local Government (MHCLG) to discuss several key issues including the Stamp Duty ‘cliff face’ but also the leasehold scandal, greening the housing stock and giving first time buyers greater access to the housing market.

Discussions also took place on how UK Finance, MHCLG and the Royal Institution of Chartered Surveyors (RICS) could work together on a cladding solution following the recent RICS consultation.

UK Finance told The Negotiator they could not comment on the private discussions between Postings and Jenrick, but instead released the following statement.

Significant volume

“The banking and finance industry continues to see a significant volume of housing transactions since the re-opening of the housing market,” a spokesperson said.

“As the Stamp Duty holiday and current help-to-buy schemes end at the end of Q1 2021, demand for mortgages and completion of property purchase will remain high over the next two months.

“We will continue to work with government to advocate for a phased transition to ending the current stamp duty relief on 31 March 2021.”

This will all be grist to the mill for MPs, several of whom are to get a chance to grill Jesse Norman, Financial Secretary to the Treasury, on the subject on Monday.

This debate has been prompted by an e-petition calling for a six-month extension of the stamp duty holiday signed by over 130,000 people and counting.

January 28, 2021

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