Halifax pledge to ease Stamp Duty bill for FTB and homemovers
Halifax is offering to pay half of all homebuyers Stamp Duty fees for properties valued between £125,000 and £250,000.
This pledge, which could save buyers up to £1250, is available to first time buyers as well as homemovers and comes six weeks after the Government withdrew its Stamp Duty exemption for first time buyers.
A recent study from the high street lender revealed nearly half the properties bought in Q1 2012 were worth between £125,000 and £250,000 albeit there some significant regional variations; London, for example, saw just 39 per cent of homemovers purchase within this price range while East Anglia and the South West saw two out of every three move into a property in this bracket.
Stephen Noakes, Mortgage Director at Halifax, explains the reasons behind its pledge:
“Buying a home is one of the most expensive purchases many will ever make and the costs associated can place an extra burden on homemovers. Many initiatives launched over the last 12 months that are solely aimed at first time buyers, but more needs to be done to help movers across all rungs of the ladder, which is crucial in the creation of a vibrant housing market.
“We have seen over the last two years that support provided to buyers has a positive impact, with the Stamp Duty exemption helping over 40 per cent of first time buyers. We’re keen to assist homemovers to purchase their next home, and support with their Stamp Duty bill does just that.”
Content correct at time of publication