14 Feb

90% have not paid stamp duty in 2 years

90% have not paid stamp duty in 2 years

The stamp duty in the UK has led to 89 per cent of people in the country not having to pay the tax on houses priced below £250,000 in the last few years.

Latest figures from HSBC have shown that almost 9 out of ten first-time buyers have gained an advantage from the stamp duty holiday over the last two years, with only 11 per cent opting for homes above the threshold.

And with the stamp duty holiday set to end on March 24th, more people are now looking to take advantage of the break.

Peter Dockar, head of mortgages at HSBC, said: "We have seen a 20 per cent increase in approvals for first-time buyer loans in the first six weeks of the year as they rush to take advantage of the stamp duty holiday.

Earlier in the week, the Council of Mortgage Lenders said that there had been seven per cent more mortgages approved for first-time buyers in December compared to November.ADNFCR-1222-ID-801292716-ADNFCR

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