Stamp Duty abolished for all first-time buyers up to £300,000

Philip Hammond has just announced that he will abolish stamp duty for first time buyers up to £300,000 from today.

If purchasing at £300,000 this equates to a £5,000 saving or a £2,500 saving at £250,000.

Tom Hayman-Joyce comments “Very pleased to hear the chancellor is acting to help first time buyers achieve their house owning dream. This will help drive the whole housing market forward, by helping those selling properties under £300,000 to sell, so they can upsize themselves. Recently, this sector of the market has not been performing as well as it was, because of decrease a in investors due to increase stamp duty and reduced tax relief.”

Photograph of Parsley Cottage which is for sale at £275,000