Lenders Back Proposed UK Tax Break

An imminent United Kingdom tax break for homebuyers included in the chancellor of the Exchequer's budget is considered "good" by the Council of Mortgage Lenders but somewhat below where it would need to be to take recent home price increases into account, the council said.The chancellor has raised the "stamp duty" exemption for property purchases of up to £120,000 (approximately $231,000), a threshold that the CML said is "still below the £150,000 [about $289,000] that would reflect a full index-linking in house price movements." The CML can be found on the Web at http://www.cml.org.uk.