The Association of Mortgage Intermediaries (AMI) says the government must, as a matter of urgency, review the current Stamp Duty regime and increase competition in the mortgage market in the forthcoming Pre-Budget Report (PBR).

The trade body is calling on the government to increase competition in the mortgage market by drawing Building Societies and non-banking institutions back into lending, as well as review the current Stamp Duty regime and immediately extend the current Stamp Duty holiday until the housing market has recovered.

AMI is also calling for greater incentives around Shared Ownership schemes to help First Time Buyers onto the property ladder.

Robert Sinclair , director of AMI, said: “Government intervention has resulted in a consolidated mortgage market