The Government are keen to get the housing market back on track and people into homes that they can afford.  Here the ITN News announce the changes to stamp duty and get some words from the PM Gordon Brown.

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UK house prices have fallen 10.9% since last August, according to the Halifax.The Halifax are one of the biggest lenders in the UK and according to their findings house prices have fallen by 10.9% since last August.Prices in August fell by 1.8%, so that now the average price of a home in the UK is around £174,178, which also now means that the average UK home is exempt from stamp duty.Despite the help of the Government, the following months are going to be challenging for anyone trying to buy a home.The average price of a home in the UK is now the same that it was in February of 2006 and the recent change to the stamp duty policy should mean that many will now find buying more affordable, especially those who are looking outside of the South of England.With the pressure on income and the mortgage squeeze, prices are being driven down and will continue to go down until the Government manage to implement a tactic that stabilises the market and enables people to buy without landing themselves and the economy in more debt.If the current housing situation is working against you and you want to know what your options are for getting onto the property ladder then contact Click n Go Mortgages and talk to them about shared ownership mortgages. A shared ownership mortgage could help you to get onto the property ladder while sharing the cost of the property with your local housing association.

The Government has axed stamp duty on houses bought for below £175,000.In an attempt to get the property ladder back on track the Government has cut stamp duty on properties below £175,000.The Chancellor Alistar Darling has spoken out and said that he believes that the Government is “taking the right actions” to get the property market back on track.The plan by the government to cut stamp duty is only for the next 12 months or less, and is going to cost the Treasury around £600 million.The current stamp duty was set at £125,00, but the new changes will save someone buying a house for £175,000, or less, £1,750. This could be vital for first time buyers and just takes that extra strain off their purse strings.The Government have estimated that this reduction will apply to one third house sales and is all part of the Government’s plan to do all that they can and get to get things back to normal on the housing front.The Prime Minister has said that this is all part of Labour’s plan to help first time buyers and families to get onto the property ladder in difficult times.Conservatives have hit back as they promised to cut stamp duty for properties worth £250,000 or less and have called the Government’s attempt half hearted and an attempt to keep Gordon Brown in power for longer.The Government has however failed as yet to laid out how they intend to cover the £600 million loss that they are going to open themselves to once stamp duty is cut.Alistair Darling is going to reveal more in the Autumn pre-budget report, but much of the report will document how the Government plan to increase the availability of mortgage finance.Cutting stamp duty is a good step in the right direction but if this is not going to help you, then look into shared ownership mortgages. They help you to share the ownership of a property and ease your way onto the property ladder.If this sounds like something that you might be interested in, then contact Click n Go Mortgages and we can talk you through everything that you need to know about shared ownership mortgages.