6 Mar

First-time buyers to be given a lifeline

First-time buyers to be given a lifeline

Those looking to secure their first property for sale in the UK could soon be given another lifeline with regards making the venture more affordable.

With the stamp duty holiday about to end on March 24th, many who did not move fast enough will have missed out on the chance to save themselves up to £2,500.

However, Nationwide Bank has now launched a deal which will see its mortgage customers given £1,000 towards the cost of their stamp duty payments.

Martyn Dyson, Nationwide's head of mortgages, said: "The loss of the stamp duty holiday has been a blow for first-time buyers as they now potentially have to save more than a thousand pounds on top of a deposit."

Stamp duty has been a contentious issue of late, with David Amstell, the founder of Briffy.com, labelling it as an "immoral tax". He also called for the government to cut stamp duty to help first-time buyers.ADNFCR-1222-ID-801311007-ADNFCR

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