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Halifax to pay FTB stamp duty on homes up to £250k

Halifax Intermediaries has offered to pay full stamp duty bills for first-time buyers on properties worth up to £250,000.
The deal will run until 7 July and applies to a 60 per cent LTV two-year fix at 2.54 per cent and an 85 per cent LTV two-year fix at 3.84 per cent.
Halifax Intermediaries head of sales Ian Wilson says: “Buying a home is one of the most expensive purchases many will ever make and the costs associated can place an extra burden on first-time buyers.
“Stamp duty can often be one of the largest costs that can be overlooked, particularly for buyers who are focused on saving an initial deposit for their first home.”
During April last year, the lender paid 50 per cent of stamp duty for FTBs for direct business written in branches.
Chadney Bulgin mortgage partner Jonathan Clark says: “With no HMRC stamp duty holiday for first-time buyers on the horizon, the introduction of these schemes is great news for brokers, especially as they have been available through the branch network.  It is further evidence of Halifax supporting brokers.”
In the 2010 Budget, Labour doubled the stamp duty threshold from £125,000 to £250,000 for first-time buyers.
In the 2011 Autumn Statement, Chancellor George Osborne did not extend the stamp duty holiday beyond its end date of March 2012, despite industry calls to do so.
The Government claimed the policy failed to increase the number of first-time buyers entering the market.



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