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Blog - Finance

Great news for first time buyers

Great news for first time buyers

Wednesday, November 22, 2017

Today’s Budget is great news for first time buyers as stamp duty is to be abolished with immediate effect for first-time buyers purchasing properties worth up to £300,000. Additionally, of particular importance in the South East where property is above average price, the first £300,000 of the cost of a £500,000 purchase by first-time buyers will be similarly exempt from stamp duty. This means that up to 80% of all first-time buyers will not pay stamp duty and is very welcome news – an early Christmas gift from the Chancellor, Philip Hammond.

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