First-time buyers 'are big Budget winners'
25-Mar-2010
The new Budget announced by Alastair Darling yesterday (March 24th) is good news for
first-time buyers, according to Lovemoney.com.
In his final financial plan before the general election, the chancellor doubled the stamp duty threshold to £250,000 for those looking to get on the first rung of the property ladder.
Ed Bowsher, head of consumer finance at the website, admits it was a "dull Budget," but suggests
first-time buyers are among the few significant beneficiaries.
He believes the stamp duty legislation should see almost all people purchasing a home for the first time excluded from paying the tax.
However, Mr Bowsher did sound a word of warning, stating: "The chancellor's measure may boost house prices, so it's not unambiguously good news for young homebuyers."
Other announcements made in the Budget include guaranteeing everybody a basic bank account, imposing a ten per cent rise in duty on cider and continuing the planned increase in fuel duty from 2014.
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FSA proposal would make it tougher to secure first mortgage, says expert Lack of parental help is major problem for young property buyers First-time buyers faced with rising house prices in March
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