Property buyers hoping to secure their first home have been reminded that they have two months to go until the stamp duty holiday comes to an end. After the tax exemption finishes on March 24th, first-time buyers will have to pay an extra one per cent on purchases between £125,000 and £250,000, and three per cent on houses worth more than £250,000.
Wendy Evans Scott, president of the National Association of Estate Agents, said anybody who is currently in a chain and waiting to complete their purchase should make sure that others in the chain are aware of the tax holiday as well, which could help to get things moving faster.
“First time buyers are key to a healthy property market. We hope to see the number of people completing the purchase of their first home continuing to increase through February and March, as many FTBs are keen to purchase their first home before the tax exemption deadline,” she added.
