Tag: home buyer
Lending by bank of mum and dad reaches a record £10 billion
Research by estate agent Savills has found that the bank of mum and dad will finance nearly half of all first-time buyer purchases this year. The study found that total contributions are likely to reach £9.8 billion, which is equal to an average of just over £58,000 each for an estimated 169,000 first-time purchases. This...
What could you do with Boris Johnson’s make over budget?
With an investigation into the source of £58,000 said to have been paid towards the refurbishment of the prime minister’s flat at 11 Downing Street, estate and lettings agency Ascend Properties took a look at what the average UK homeowner could do with this sum. After a year spent largely at home, most people have...
Applications are open for the new Help to Buy: Equity Loan 2021 2023
The new phase of the government’s Help to Buy scheme is set to launch on 1 April 2021, with the existing scheme closing the previous day. With average house prices at a record high, many first-time buyers are struggling to afford their own property. The Help to Buy scheme assists buyers to purchase a new...
Buying a property during the Stamp Duty holiday
The temporary Stamp Duty holiday has been extended in an attempt to keep the property market active. In June 2020, the chancellor Rishi Sunak announced a temporary Stamp Duty holiday, cutting the rate of the tax on purchases of up to £500,000 to zero. The current rate of 0 per cent payable on the first...
What the Stamp Duty Land Tax Holiday extension means
What is the stamp duty holiday? Last year, the government temporarily increased the amount at which stamp duty is paid to £500,000, for property sales in England and Northern Ireland. The move was aimed at helping buyers who might have taken a financial hit because of Covid. It could save them as much as £15,000,...
What Do The Stamp Duty Changes Mean For You?
The announcement of a temporary stamp duty holiday on the first £500,000 of all property in England and Northern Ireland has been done in an attempt to boost the economy, but what will this mean for many people either considering buying or in the process of buying. Stamp Duty in England and Northern Ireland is...
