The Government currently offers a stamp duty reprieve for all properties below £175,000 but Halifax is offering to pay the tax for all first-time buyers above that level.
Any first-timers buying with Halifax will receive 1 per cent of the purchase price of the property on completion. It’s available on its five-year fixed rate mortgage up to 90 per cent LTV, effective from April 29.
A cheque will be issued directly by Halifax to the conveyancer following completion of the mortgage.
Halifax says: “As the UK’s largest mortgage lender, Halifax is showing its commitment to First Time Buyers by launching a unique and innovative product specifically designed to help them take their first steps on the housing ladder.”