The Institute of Professional Auctioneers and Valuers (IPAV) has today urged Minister for Finance Brian Cowen to change his mind about reforming the stamp-duty regime.

Mr Cowen has already ruled out any changes in next month’s budget, saying it is not his job to interfere in the property market.

However, in this pre-budget submission, the IPAV is calling for stamp duty to be abolished entirely for all first-time buyers in order to help them get a foot on the property ladder.

It is also seeking a doubling in the amount of mortgage interest relief for first-time buyers.

Elsewhere, the IPAV is urging Mr Cowen to reduce the number of stamp duty categories, as well as the rates at which the tax is imposed.

Posted: 11|6|06 at 5:03 pm. Filed under: Auction News.