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First-time home buyers save £284m because of stamp duty cut

More than 120,000 first-time home buyers have saved a total of £284m because of the cuts to stamp duty introduced last November, according to government figures. The first £300,000 of the price of a property is now exempt from tax for people entering the housing market for the first time. It means that the new stamp duty cost for first-time buyers is: • properties up £300k, no stamp duty • properties between …Read More

More than a million people have opened Help to Buy ISAs

More than a million people have opened a Help to Buy ISA, the government savings account designed to enable first time buyers to get on the property ladder. The scheme was launched on 1 December 2015 to provide potential buyers with the opportunity to save up to £200 a month with the government topping up their contributions by 25%, up to a maximum of £3,000. First-time house buyers across the …Read More

Help to Buy schemes used by over a million home buyers

Nearly 260,000 people have bought their home using Help to buy schemes and more than 870,000 have opened a Help to Buy ISA. The latest figures issued by the government show that: • over 259,000 completions have taken place using one or more of the Help to Buy schemes, most of these are first-time buyers • more than 215,000 (84% of total completions) first-time buyers are now on the housing ladder thanks …Read More

Government plans to unlock more brownfield land for new homes

The government has announced new measures to speed up the development of derelict and unused land for new homes. Housing and Planning Minister Gavin Barwell said local authorities across the country will have to produce and maintain up-to-date, publicly available registers of brownfield sites. The new registers will help housebuilders identify sites quickly, helping to unlock land for thousands of new homes. Communities will also be able to highlight local …Read More

Government publishes set of measures to boost housing market

The government has published a set of measures designed to boost the housing market and increase the number of homes to buy or rent. It’s hoped the proposals will remove some of the obstacles faced by local authorities and developers that prevent housing projects going ahead. The reforms are set out in the Housing White Paper. These are some of the main areas covered: Getting the right homes built in …Read More

Starter homes to be sold to first-time buyers at 20% discount

The government has announced plans to build thousands of starter homes on brownfield sites across the country. They will be built exclusively for first-time buyers between 23 and 40 years old and sold at a discount of at least 20% below market value. The scheme will be run by the Homes and Communities agency in a series of partnerships with local authorities. The first wave of 30 partnerships – selected …Read More

More than 220,000 home buyers have used Help to Buy

The latest government figures show that more than 220,000 people have now used the various Help to Buy schemes to purchase a new home. More than 180,000 of them are first time buyers. The average house price across the schemes is £191,000, showing that it is those buying smaller properties who are benefiting most. There are various Help to Buy schemes including Shared Ownership, Equity Loan, and London Help to …Read More