It also argues that support for LTBs would underpin greater property turnover and provide benefits for overall market liquidity. But it is sceptical of the suggestion that stamp duty relief for LTBs would help – one of the pillars of a recent House of Lords report.
Ironically, the IMLA argues that such a policy could trigger more concerns about intergenerational unfairness, and while well-intentioned, may have unintended consequences and risks adding further complexity to the system.
The association believes lenders, intermediaries and the government all have a role to play in transforming the situation. It concludes that if a healthy housing market is one where households face a good choice of properties and can move easily between them, the UK fails this test when it comes to older people.
