The Chancellor announced in his Budget Statement that Stamp Duty for first time buyers is to be withdrawn with immediate effect on any purchase under £300,000.
What does this mean?
At a purchase price of £175,000 a first time buyer will save £1,000.
This change is a positive initiative that can only benefit first time buyers. Some commentators have suggested that this may result in higher house price. We think this is unlikely in this area as the saving that a first time buyer will make is very small in relation to the purchase price.
Our advice to first time buyers is to step up your search for your dream home. Why not contact us on 0161 626 3471 and we will help you find your first home.