Since March last year, first time buyers wishing to purchase property worth less than £250,000 have been given a Stamp Duty holiday, but this is soon to change….
Get a foot on the Property Ladder with the Government FirstBuy scheme and only a 5% deposit
The Stamp Duty break for first time buyers has meant that anyone taking their first step on the property ladder by purchasing property worth less than £250,000 has been exempt from paying Stamp Duty. However, from 25th March 2012, first time buyers will be required to pay the same Stamp Duty as everybody else. This equates to 1% of the property price for property worth between £125,000 and £250,000.
However, if you’re a first time buyer who’s willing to move quickly, there’s still time to save money before the Stamp Duty break expires. Here are our favourite first time buys.