LiveMore comment on the King’s Speech

17 July 2024

Please find below, a comment on the King’s Speech from Simon Webb at LiveMore, the mortgage lender for the 50-90+ age group.

Simon Webb, managing director of capital markets and LiveMore, commented: “The King's speech today set out some unsurprising but commendable housebuilding targets from the Government, demonstrating a clear commitment to tackling the housing shortage. However, it is disheartening that the extension of the stamp duty exemption for all buyers has been neglected once again. This omission continues to place unnecessary financial burdens on those looking to move.

“The Government needs to take decisive action and revamp the current process to ease the pressure on older homeowners who are keen to downsize but find themselves stuck due to prohibitive costs. An urgent overhaul could significantly benefit these individuals and help release larger homes back into the market, thus providing a more balanced and efficient housing solution for everyone.”