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Labour pledges stamp duty help for first-time buyers General

Labour pledges stamp duty help for first-time buyers

28/04/2015 - 09:12:57
Buyer demand robust despite uncertainty over election General

Buyer demand robust despite uncertainty over election

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Steel fixings specialist wins second Queen’s Award General

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Tories to extend right-to-buy to fund building 400,000 brownfield homes General

Tories to extend right-to-buy to fund building 400,000 brownfield homes

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House building could be rocked by political uncertainty General

House building could be rocked by political uncertainty

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Top Story
Labour pledges stamp duty help for first-time buyers

A Labour government would scrap stamp duty for first-time buyers in England, Wales and Northern Ireland on homes worth less than £300,000.

The stimulus for first-time buyer would stay in place for three years and forms part of a package of measures that would also give local people who lived in an area for three years "first call" on half of new homes in their area.

Labour leader Ed Miliband said he would also introduce tax measures to help prevent foreign buyers from buying properties ahead of local people.

The stamp duty "holiday" on purchases would save the average qualifying first-time buyer around £5,000 and would cost a Labour Government £225m.

Miliband said the change will benefit nine in ten first-time buyers. The average price paid for a first home was £205,000 in February, according to the latest figures from the Office for National Statistics.

The plan would be funded by a clampdown on landlords who avoid tax, a cut in tax relief for landlords failing to maintain properties and increased taxes for foreign property investors.

Those from outside the EU would see stamp duty rise by at least 3%.

The Futures Group
New homes "Think Tank", The Futures Group, details how to rise to the challenge of delivering better homes for the consumer.
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Thermal Performance Part L1A 2013
Fabric and services options for energy and carbon compliance.

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