Great News for First Time Buyers

It was announced by the Government on 22nd November 2017 that First-time buyers will no longer pay Stamp Duty on properties under £300,000, this measure is part of the government’s commitment to support first time buyers.

Introducing this tax relief will reduce the upfront costs and is likely to benefit younger people, and ensure that getting on the property ladder will remain accessible for many.

Possibly the biggest incentive to buy a new build is the Help to Buy Scheme  

The Government’s Help to Buy Scheme aims to help buyers who have a deposit of at least 5%. The Government will lend you up to 20% of the value of your new home (up to a maximum value of £600,000), so you only need to secure a 75% mortgage.  The equity loan in interest free for the first 5 years and you can repay the loan at any time.