Stamp duty cut has helped 16,000 first time buyers, May claims

Industry News | 09/01/18

Theresa May has announced that the stamp duty cut for first-time buyers has already helped 16,000 people in six weeks and is predicted to benefit one million first-time buyers over the next five years.

The government abolished stamp duty for all first-time buyer purchases up to £300,000 in November’s Budget. The relief is also available on the first £300,000 of the purchase price of properties up to £500,000, meaning an effective reduction of £5,000 for first-time buyers in high price areas such as London.
Source: financial reporter