Stamp duty abolished for first-time buyers for homes worth up to £300,000
Today the Chanecellor of the exchequer Philip Hammond has abolished stamp duty for first time buyers for property up to £300,000.
Hammond says he wants to help people saving to buy a home.
Furthermore an extra £10bn has gone into the help-to-buy equity loan. He has considered a temporary stamp duty holiday.
- Hammond says he is abolishing stamp duty for first-time buyers for properties worth up to £300,000.
- And people buying a home worth up to £500,000 will not have to pay stamp duty on the first £300,000.
Hammond says this is to help people in markets like London.
This is good news for all first time buyers.