CPS Homes

Around 40 per cent of FTBs have not been required to pay stamp duty!

A significant number of first-time buyers (FTBs) in the UK have benefitted from the stamp duty holiday.

This is according to figures from Halifax that revealed an additional four-in-ten FTBs were exempt from paying the requirement due to the threshold being raised by the government from £125,000 to £250,000 over the course of the last two years.

As a result of the move, 95 per cent of those getting their foot on the first rung of the property ladder did not have to fork out for the added costs, which calculated at around 150,000 people finding the development to their advantage.

Martin Ellis, housing economist at Halifax, which is part of Bank of Scotland, observed: "The doubling in the starting threshold has been a significant benefit to those who have benefitted during a time of economic and financial difficulty for many."

He added London and the south-east, regions that were home to the highest percentage of FTBs not required to pay the duty, will be hit the most when the threshold returns to its usual level.

CPS Homes Cardiff Estate Agents has used this article from houseladder.co.uk

20 March 2012

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

Back

Around 40 per cent of FTBs have not been required to pay stamp duty!

A significant number of first-time buyers (FTBs) in the UK have benefitted from the stamp duty holiday.

This is according to figures from Halifax that revealed an additional four-in-ten FTBs were exempt from paying the requirement due to the threshold being raised by the government from £125,000 to £250,000 over the course of the last two years.

As a result of the move, 95 per cent of those getting their foot on the first rung of the property ladder did not have to fork out for the added costs, which calculated at around 150,000 people finding the development to their advantage.

Martin Ellis, housing economist at Halifax, which is part of Bank of Scotland, observed: "The doubling in the starting threshold has been a significant benefit to those who have benefitted during a time of economic and financial difficulty for many."

He added London and the south-east, regions that were home to the highest percentage of FTBs not required to pay the duty, will be hit the most when the threshold returns to its usual level.

CPS Homes Cardiff Estate Agents has used this article from houseladder.co.uk

20 March 2012

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

Back

Posts by date

Sign up for updates

By using this form, you agree with the storage and handling of your data in accordance with GDPR for the sole purpose of communication. We respect your privacy and will not share your data with third parties. For more information, please view our Privacy Policy.

cwtch tile