Mortgage advice: Buy before end of 2009 to avoid stamp duty

08-Sep-2009

House hunters, including first-time buyers, have been advised to complete the purchase of their new property as soon as possible.

This comes from Abbey, which reminded people getting onto the first rung of the property ladder, among others, to sign the papers for their new home before December 31st.

A stimulus package issued by the government, in which houses worth between £125,000 and £175,000 have been exempt from stamp duty since September last year, will conclude at the end of 2009.

This has prompted Nici Audhlam-Gardiner, director of Abbey home loans, to offer some first mortgage advice and encourage house hunters to avoid the one per cent tax.

"First-time buyers have been hit hard by the costs of climbing on to the ladder and for these people this is a golden opportunity to make a big saving," she said.

When moving into a new property, people should be sure to know their limits when it comes to DIY, according to Fiona Hodge, assistant editor at DIY Week.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

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