UK’s biggest mortgage lender pins rise on rush to defeat new stamp duty charges as bank group reveals profits nearly halved in first quarter Lloyds Banking Group – the UK’s biggest mortgage lender – has revealed a surge in activity by buy-to-let and moment-home buyers in the speed-up to tax changes in April.
António Horta-Osório,chief executive of the bailed-out bank, said mortgage activity had been strong ahead of the changes, and which came into force on 1 April and require buy-to-let and moment-home buyers to pay a 3% surcharge on stamp duty. He was speaking as the bank,which owns Halifax, reported its profits had almost halved in the first three months of the year.
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Source: theguardian.com