Rain

Rain

max temp: 16°C

min temp: 15°C

ESTD 1874 Search

National: Helping buyers to get on to the property ladder

10:52 04 March 2014

New Homes

New Homes

Archant

Boost for first-time buyers

shares

As a sign of its commitment to helping first time buyers get onto the property ladder, Halifax has offered to pay the full stamp duty bill for first-time buyers purchasing properties up to the value of £250,000.

Designed to ease the burden for first time buyers making their way onto the property ladder; for the second consecutive year, Halifax will pay the entire stamp duty bill on purchases between £125,001 and £250,000, reducing a first time buyer’s costs by up to £2,500.

In addition, for first-time buyers who purchase a property below £125,001, they will receive £250 cashback.

Craig McKinlay, mortgage director, Halifax said: “We know that Stamp Duty can often be a cost that is overlooked, particularly by first time buyers who are focused on saving an initial deposit for a house. We helped ease the burden of Stamp Duty for over 14,000 first time buyers last year and we’re keen to do what we can to once again support those buying their first home, at what’s already an expensive time.”

Analysis by Halifax shows that 268,800 first-time buyers purchased a property last year, an increase of 23% compared to 2012.

First time buyers accounting for 44% of all property purchases in 2013 and 9 out of 10 first time buyers (91%) purchased a property below £250,000 in 2013[2]

Nationally almost half (46%) of home purchases by first time buyers were between £125,000 and £250,000.

shares

0 comments

Ashley Gogan, Bedford Lodge

A four-star hotel in Newmarket has appointed a new face to head up its conference and events service.

Sheepen Place office development scheme at night - artist's impression

Proposals have been submitted for two new office buildings planned for central Colchester.

Greene King chief executive Rooney Anand, left, shaking hands with Mike Tye, chief executive of the Spirit Pub Company, outside Spirit's headquarters in Burton uponTrent following the sale deal.

Jobs are at risk at Greene King following a major acquisition earlier this year.

EDF workers are unhappy over pay.

Hundreds of workers at energy giant EDF are to stage a 24-hour strike in a row over pay.

Amos Smith who is launching a new yoghurt called Mossy's from a secret family recipe.

A popular yogurt made to a secret family recipe has been revived by a young food entrepreneur.

Land next to Burger King is for sale

Tesco, Mothercare and Toys R Us could soon have a new neighbour at Copdock Mill

A city worker looks at a stock ticker screen at the London Stock Exchange in the City of London.

Volatile stock market conditions took their toll again today as the FTSE 100 Index plunged after sharp gains in the previous session.

The Director General of the British Chambers of Commerce, John Longworth, has met with the Suffolk Chamber of Commerce in Ipswich to hear of their work delivering support to firms across the region.

The Director General of the British Chambers of Commerce, John Longworth, met with the Suffolk Chamber of Commerce in Ipswich to hear of their work delivering support to firms across the region last week.

Sainsbury's supermarket was only one of Britain's big four supermarkets to grow sales in the last three months - but still saw its number two spot in the sector retaken by Asda.

Sainsbury’s was the only one of Britain’s big four supermarkets to grow sales in the last three months - but still saw its number two spot in the sector retaken by Asda, according to latest industry data.

Family law expert Georgina Hall, now a partner at Prettys

East Anglia law firm Prettys, which has offices in Ipswich and Chelmsford, has announced the promotion of family law expert Georgina Hall to partner, bringing the total number of partners in the firm to 10.

Most read

Most commented

Topic pages