The incentive introduced to attract First Time Buyers (FTBs) to the market is soon to be retracted.
What was termed the “Stamp Duty Holiday” in last years’ budget is due to come to an end on 24th March 2012.
Under the scheme, FTBs are able to claim relief from paying any Stamp Duty at all when they purchase their first property with a value of below £250,000.
With average house prices in the South West reaching £223,300 last quarter (source Land Registry via Exeter City Council http://www.exeter.gov.uk/index.aspx?articleid=1001), this creates the potential for FTBs to save and average of £2,233.
Surely during a time of economic uncertainty and stretched budgets, this makes the Stamp Duty Holiday a not to be missed opportunity?
However, with a little over 4 weeks left before the Stamp Duty Holiday comes to an end, is it too late to take advantage of this fantastic opportunity to put some extra money back into your pocket?
The answer is NO!
So long as you are able to locate a property within the next week and you are able to secure a mortgage offer soon after (if applicable) there is no reason (provided the seller is willing to co-operate) you can’t walk away with the keys to your new home on 23rd March or earlier (if at all possible).
Here at Morgan & Pope Solicitors, we are perfectly placed to enable you to achieve your dream of owning your home and helping you to save money at the same time.
Your case will be assigned to one of our dedicated First Time Buyer Lawyers, who will prioritise all cases that have the chance of achieving the 24th March deadline so as to give you the best chance of saving thousands of pounds.
So, clear your diary and make your local Estate Agent your first port of call on Saturday morning (or earlier of possible) to see if you can find your perfect home.
Then, immediately send an e-mail to our dedicated FTB e-mail address (firstname.lastname@example.org) or telephone us first thing on Monday morning (01392 274006) so that we can get the ball rolling and turn your dream of saving money into a reality!
Author – Charlotte McGregor