6
Apr
New tax rules 'may benefit property seekers'
Individuals looking to go through the conveyancing process to secure a new home may
benefit from the tax changes recently unveiled by the
government.
Commenting on chancellor Alistair Darling's decision to raise the
level at which stamp duty kicks in for first-time buyers to
£250,000, moneysupermarket.com's Hannah Mercedes-Skenfield
said it may enable people to get on to the property ladder
sooner.
She remarked: "Even a one per cent saving can make a significant
difference to someone looking to buy their own home."
The expert went on to state that the alterations could allow
consumers to put down a deposit more quickly or to increase the
value of their lump sums, meaning they would be left in less
debt.
Following the announcement of the stamp duty changes, the Labour
Party received a mixed response, with some people suggesting it
should apply to all property buyers, not just those looking for
their first home.
