First-time buyers to benefit from SDLT relief

As we enter what is traditionally, and hopefully, the peak period for selling your house it is very clear that the government initiative announced in November’s autumn statement to give first time buyers the chance to benefit from a first time buyers SDLT exemption is having a marked effect.

Arguably the recent changes in the SDLT rules introduced over the last 3 years have all benefited the property market with volumes of transactions and market activity now increasing in many areas of the UK.

The first time buyers exemption can save the lucky ones who qualify as much as £5,000.00 as the first £300,000.00 is tax fee provided the first time buyers buy for less than £500,000.00.

This gives this group of people a real incentive to buy which then releases their sellers to buy further up the property ladder so generating movement throughout the property market.

 

This is not legal advice; it is intended to provide information of general interest about current legal issues.

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David Knapp

Partner, Head of Residential Property

David is Partner of the firm, head of residential property and a qualified solicitor. David has worked at Hart Brown for 37 years, joining the...

Partner, Head of Residential Property

David Knapp

David is Partner of the firm, head of residential property and a qualified solicitor.

David has worked at Hart Brown for 37 years, joining the firm in 1981. He graduated from the City of Birmingham Polytechnic in 1980, attended Guildford Law School in 1980 and qualified as a solicitor in 1984.

David's specialism in residential property and progression throughout the firm has enabled him to build many long-lasting relationships with clients he has helped over the years and continues to do so. He has a great deal of legal and life experience and enjoys interaction with those known to him as well as newly introduced people.

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