When Alistair Darling released his budget last week his strategy for providing stimulus to the housing market took the form of giving a direct incentive for First Time Buyers to step on the ladder by raising the level where Stamp Duty Land Tax is payable.
All first time buyers buying a property with a value up to £250,000 will save up to a maximum of £2,500 which they would otherwise have paid to the government in tax. For those buyers struggling to save for a deposit, that will be a massive help.
The stamp duty holiday is for a limited period as it is set to end on 25th March 2012. The measure, it is hoped will drive first time buyers to take action now enabling the whole of the housing market to gain momentum.
If you are a first time buyer who is keen to get on the first rung of the property ladder why not call into our office and have a chat with one of our friendly sales team - They will be happy to help you find a property that ticks all of your boxes!
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