The Budget: Stamp duty scrapped for first time buyers on property up to £300,000

 In Mortgages

Today marks a change in direction and helps our first time buyers get onto the housing market.

Stamp duty will be scrapped immediately for first-time buyers of homes below £300,000, as the Chancellor put Britain’s housing crisis at the heart of his Budget.

Philip Hammond said the move would cut the tax for 95 per cent of first-time buyers – and abolish it altogether for 80 per cent of them. Stamp duty would be axed on the first £300,000 of a purchase price up to £500,000 – a cut of up to £5,000.

Here at Abraham Associates we are here to help our first time buyers with their mortgage requirements. Call us today on 0208 953 2049.

 

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