Permanent tsb welcomes stamp duty reforms

Permanent tsb bank has welcomed the Government’s plans to abolish stamp duty for first time buyers announced today.

Niall O’Grady, head of marketing with Permanent tsb bank - said that the uncertainty regarding whether or not stamp duty would be reformed, and the extent of any such reform, had been a destabilising factor in the market in recent months.

"The mortgage market needs certainty and because of the public wrangling over stamp duty for the past nine months, that certainty has been absent," he said.

"Today’s announcement should draw a line under this whole issue and target a much needed incentive at the first time buyer sector in particular. In that context, it’s a very welcome development."