Property experts demand change on stamp duty

A number of "industry heavyweights" have added their support to the 1808 Coalition which is campaigning for the government to modernise stamp duty.

Recently set up by the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents, the coalition lobbies the government to extend the "holiday" on stamp duty, or make the temporary threshold of £175,000 permanent.

The Association of Mortgage Intermediaries (AMI), the Building Societies Association and the Council of Mortgage Lenders have all now added their weight to the campaign.

Other organisations offering support include the Home Builders Federation and the National Landlords Association.

Robert Sinclair, director of the AMI, said: "It is rare that the breadth of our industry comes together with such consensus on an issue. But the current stamp duty regime is distorting the market to such an extent that we feel compelled to speak out.

"The AMI is fully committed to supporting this industry campaign to reform the regime. We implore the government to not only listen but, to act in support of our request for change to this damaging tax."

Currently the stamp duty "holiday" is due to expire at the start of next year despite a recent NAEA showing a 91 per cent majority of estate agents say it should be extended

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