26
Mar
First-time buyers 'will benefit from Budget'
First-time buyers are among the people set to benefit from recent
Budget announcements.
This is according to Lovemoney.com, which suggested that the rise
in the threshold for stamp duty from £125,000 to £250,000
is a positive development for such property purchasers.
Ed Bowsher, head of consumer finance at the website, noted that the
majority of those looking to get on to the housing ladder will be
exempt from the tax as a result of the changes.
However, more could be done to assist people seeking to buy homes,
the expert added.
He commented: "First-time buyers would also like lower house
prices."
The government's decision to double the stamp duty threshold comes
three months after a tax holiday on residences worth less than
£175,000 came to an end.
This had been introduced following the credit crisis that began in
2007 and was an attempt to boost the housing market in the
UK.
