'Not much in Budget for first time buyers'

22-Mar-2007

Yesterday's Budget has offered first time buyers very little, an expert has claimed.

According to Helen Adams, managing director of FirstRungNow, although the decision to make zero-carbon homes exempt from stamp duty should be welcomed, initiatives for first time buyers in yesterday's Budget are limited.

Find out more about the house-buying process including stamp duty, home information packs and conveyancing click here.

Indeed, although the 2p reduction in income tax was broadly welcomed, Ms Adams did express concern over the move's potential effects on inflation.

"Overall, I'm rather disappointed on behalf of first time buyers," said Ms Adams.

"At FirstRungNow [we] have been campaigning for some time now that first time buyers should be exempt from stamp duty as it is inhibiting their ability to [buy] a first home," she added.

In related economic news, last month the UK's rate of inflation - as measured by the consumer prices index - rose to 2.8 per cent.

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