Martin Tolhurst

Are you a first time buyer? Don't miss out on a £2,500 saving!!

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First time buyers were handed a pre-election boost in March 2010 worth up to £2,500 after the  Chancellor gave a stamp duty land tax holiday on homes costing up to £250,000 for first time buyers. The chancellor said: "The housing market has now stabilised and has begun a slow recovery. But many first-time buyers, particularly those without large deposits, still find it hard to get a mortgage. I want to help them, but do so in a way that is properly funded."

If you are a first-time buyer the threshold for when you start to pay stamp duty land tax is £250,000. This tax relief is only available if you have never owned any property in the world.The stamp duty land tax holiday comes to an end on 24th March 2012.

The stamp duty land tax holiday was welcomed by many first time buyers including Mr & Mrs White who are clients of QualitySolicitors Martin Tolhurst and purchased their first home in August 2011, "The stamp duty saving was especially helpful for us as we were first-time buyers and with many other things to pay for (such as furniture) it was a big relief that we didn't have stamp duty to worry about as well. We saved ourselves over £1,500 which was a great help and went towards buying new sofas!"

As long as you are a first time buyer and have never previously owned a property any where else in the world then you will not have to pay stamp duty land tax on a purchase price of up to £250,000. This is a saving of 1% of the purchase price of the property you want to buy.

QualitySolicitors Martin Tolhurst specialise in conveyancing and have a team of over 50 people who deal just with conveyancing matters. It is not too late for you take advantage of the stamp duty land tax savings but you need to act quickly so call us today to get the ball rolling.


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