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Guild Blog: How Stamp Duty Changes will Impact the Market?

In his third Budget as chancellor, Phillip Hammond announced that he will extend the cancellation of stamp duty for first-time homebuyers on properties up to £300,000 to first-time buyers of shared ownership properties valued up to £500,000.  He also stated that the measure would be retrospective so that any first-buyer who has bought a home since the last Budget will benefit.   The government has done much to enable first-time buyers the opportunity to get into the market and removing stamp duty on all shared equity purchases up to £500,000 is another … Continued

Guild Blog: First Time Buyers Benefit from Stamp Duty Tax Relief

  Yesterday marked a year that first-time buyers have benefited from the stamp duty tax relief. The money-saving tax relief, which is known as First Time Buyer Relief (FTBR), was introduced on 22 November 2017.  The Treasury announced that since the inception of the scheme, more than 180,500 first-time buyers have benefited, saving a total of £426 million pounds. Iain McKenzie, CEO of The Guild of Property Professionals, said: “The government’s effort to assist first-time buyers to get into the market is seeing fruit with the number of first-time buyers … Continued

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