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Halifax Intermediaries to pay Stamp Duty bill for first-time buyers

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  • 30/04/2013
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Halifax Intermediaries to pay Stamp Duty bill for first-time buyers
Halifax's mortgage adviser arm, Halifax Intermediaries is set to pay the full Stamp Duty bill for first time buyers purchasing homes worth up to £250,000.

The intermediary lender will pay the bill on properties worth between £125,000 and £250,000, reducing a first time buyer’s costs by up to £2,500.

The offer is available through a range of “Stamp Duty Special” products in the Halifax Intermediaries mortgage range.

 

Products it can be applied to include the 60% LTV two-year fixed rate of 2.54% and the 85% LTV two-year fixed rate of 3.84%.

Ian Wilson, head of sales for Halifax Intermediaries said: “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 the largest cost and can be overlooked, particularly for buyers who are focused on saving an initial deposit for their first home. We are keen to eliminate this cost as part of our ongoing support of first time buyers.”

Halifax research suggests first time buyers accounted for 40% of all property purchases in 2012 and that 9 out 10 buyers bought below £250,000 in Q4.

Regional variations meant 72% in the South East and 68% in the South West bought below the £250,000 threshold but only 21% of first time buyers in London.

Lloyds Banking Group committed £6.5bn to first-time buyer lending in 2013.

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