Budget allows more first-time buyers to put their stamp on a property

Michael Lloyd

November 29, 2017

People can more confidently get their foot on the first rung of the property ladder now stamp duty has been removed for first-time buyers purchasing homes costing £300,000 or less, says estate agent group The Nottingham.

The Nottingham, comprised of Nottingham Estate Agency and Harrison Murray Estate Agency, is helping first-time buyers by offering a Help to Buy ISA with an interest rate of 2.25%.

Customers can cash in on a government bonus of 25% (up to a maximum of £3,000).

Responding to the Autumn Budget

Network property sales manager, Richard Bocock, said: “It’s well documented how difficult it is for first-time buyers to purchase property in the UK at present and that’s due to a number of factors, including a shortage of housing stock and of course the costs of buying a home.

“That has been particularly relevant to first-time buyers however while it’s still the case that there aren’t the numbers of affordable housing available to cater for the demand that exists, it is a very positive move to remove some of the cost which will allow them to use the money towards a deposit, and give them a fighting chance of getting themselves on the ladder.

“The housing market is always a hot topic when the Budget comes around so it’s very pleasing that a key aspect of that process – helping first-time buyers – has been looked at and acted upon.”

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