This means that if a customer is buying a house for £150,000, Halifax will pay £750 towards their stamp duty bill, up to a maximum of £1250 for those purchasing a £250,000 home. The product is available to all first-time buyers, but Halifax current account customers will also receive an additional £150 on completion.
Recent research from Halifax has demonstrated that four in ten first-time buyers have benefited from the Stamp Duty exemption that has been in place since March 2010.
Returning the starting threshold to £125,000 will result in nearly 45% of first-time buyers paying stamp duty. In comparison, just 5% of first time buyers have had to pay stamp duty over the last two years.
Stephen Noakes, mortgage director, Halifax said: "Over the last two years, the stamp duty exemption has helped 40% of first-time buyers. Now that it’s coming to an end, we’re keen to do what we can to continue to support those buying their first home, and soften the blow of a stamp duty bill at what’s already an expensive time."
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