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Stamp duty cut for first-time buyers

Stamp duty cut for first-time buyers

Written by: Category: News November 22, 2017

stamp duty cut for first-time buyers

First-time homebuyers will no longer have to pay stamp duty for properties purchases up to £300,000.

First-time buyers are celebrating today after Mr Hammond abolished stamp duty for those first time buyers purchaser homes worth up to £300,000.

In order to get more people on the first rung of the housing ladder, the stamp duty cut is available on the first £300,000 of homes worth £500,000.

Todays announcement could result in big savings for young families struggling to get on the housing ladder, particularly in areas such as London.

It comes as the Conservative government faces growing pressure to appeal to younger voters forced to save for longer and longer to afford a deposit or rely on the so-called bank of mum and dad to help them.

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