22 Mar

First-time buyers to receive help from banks after stamp duty holiday ends

First-time buyers to receive help from banks after stamp duty holiday ends

The Halifax and The Co-operative Bank are attempting to help first-time buyers who have missed out on paying no stamp duty.

The government's holiday on the scheme ends this Saturday (March 24th) and means that anyone looking to get on to the property ladder will have to pay one per cent extra on a house worth between £125,000 and £250,000.

However, Halifax is offering a product where it will pay half of the stamp duty fee. It comes as part of a two-year fixed mortgage rate which can be accessed with a deposit of either ten or 15 per cent.

The Co-operative Bank has also launched a number of deals which are fee-free. This includes one which requires a ten per cent deposit and is on a lifetime tracker pegged at 4.09 per cent above the base rate.

Stephen Noakes, mortgage director at Halifax, said: "Over the last two years, the stamp duty exemption has helped 40 per cent of first-time buyers. Now that it's coming to an end, we're keen to do what we can to continue to support those buying their first home, and soften the blow of a stamp duty bill at what's already an expensive time."ADNFCR-1222-ID-801324122-ADNFCR

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