Assumption Clause
Assumption Clause
A clause stating that the seller has passed to the buyer full responsibility for the mortgage on the property. Often, an assumption fee must be paid to the mortgage lender.
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Gordon Brown has today announced that Stamp duty is to be suspended for a year, on properties that cost up to £175,000 in a bid to boost the ailing housing market.
The long-awaited freeze on the unpopular levy is to take place from Wednesday.
It forms part of an emergency rescue package for hard-pressed home buyers and [...]
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