Budget 2008 property matters

The proportion of stamp duty payable on the shared equity Open Market HomeBuy scheme will no longer be required until buyers own 80 percent of the equity in their home.

In addition, key workers qualifying to enter into shared ownership schemes will only need to borrow 50 per cent of the purchase price rather than 75 per cent previously.

Long-term fixed mortgages
The Treasury will consult further on how to achieve affordable long-term fixed-rate mortgages, reporting back at this year's Pre-Budget Report. The aim is to encourage more 10, 15 and 25-year mortgages, but details of how this will be achieved in a way that appeals to borrowers have still not been revealed.

Green homes
The zero carbon scheme for new homes will be extended to cover non-domestic buildings by 2019 and there will be an additional £26bn of funding for greener homes next year.

Levels and bases of, and reliefs from, taxation are subject to change.

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